Israel: Tufted Carpet Market 2024

Tufted Carpet Market Size in Israel

In 2022, the Israeli tufted carpet market decreased by -6.6% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption, however, continues to indicate a resilient expansion. Tufted carpet consumption peaked at $X in 2021, and then shrank in the following year.

Tufted Carpet Exports

Exports from Israel

In 2022, tufted carpet exports from Israel reduced markedly to X square meters, waning by -18.8% on the previous year. Over the period under review, exports recorded a deep downturn. The growth pace was the most rapid in 2019 when exports increased by 68% against the previous year. As a result, the exports attained the peak of X square meters. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, tufted carpet exports contracted sharply to $X in 2022. In general, exports recorded a noticeable reduction. The pace of growth was the most pronounced in 2019 with an increase of 48% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Palestine (X square meters), the UK (X square meters) and Canada (X square meters) were the main destinations of tufted carpet exports from Israel, together accounting for 63% of total exports.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of +38.7%), while shipments for the other leaders experienced a decline.

In value terms, Palestine ($X) remains the key foreign market for tufted carpets and other tufted textile floor coverings exports from Israel, comprising 40% of total exports. The second position in the ranking was held by the UK ($X), with a 20% share of total exports. It was followed by Canada, with a 15% share.

From 2012 to 2022, the average annual growth rate of value to Palestine stood at +2.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-14.6% per year) and Canada (+39.0% per year).

Export Prices by Country

The average tufted carpet export price stood at $X per square meter in 2022, surging by 4.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.9%. The growth pace was the most rapid in 2020 an increase of 47%. The export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per square meter), while the average price for exports to Greece ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+19.3%), while the prices for the other major destinations experienced more modest paces of growth.

Tufted Carpet Imports

Imports into Israel

In 2022, overseas purchases of tufted carpets and other tufted textile floor coverings decreased by -7.5% to X square meters for the first time since 2019, thus ending a two-year rising trend. In general, imports, however, showed a resilient increase. The pace of growth was the most pronounced in 2016 when imports increased by 110% against the previous year. Imports peaked at X square meters in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, tufted carpet imports fell to $X in 2022. Over the period under review, imports, however, continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2013 when imports increased by 50%. Over the period under review, imports reached the peak figure at $X in 2021, and then declined in the following year.

Imports by Country

In 2022, China (X square meters) constituted the largest tufted carpet supplier to Israel, accounting for a 69% share of total imports. Moreover, tufted carpet imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X square meters), eightfold. The Netherlands (X square meters) ranked third in terms of total imports with a 3.5% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +13.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+15.3% per year) and the Netherlands (+1.1% per year).

In value terms, China ($X) constituted the largest supplier of tufted carpets and other tufted textile floor coverings to Israel, comprising 63% of total imports. The second position in the ranking was held by Turkey ($X), with an 8.7% share of total imports. It was followed by the Netherlands, with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +14.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+13.8% per year) and the Netherlands (-0.4% per year).

Import Prices by Country

In 2022, the average tufted carpet import price amounted to $X per square meter, stabilizing at the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 49%. Over the period under review, average import prices hit record highs at $X per square meter in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per square meter), while the price for Vietnam ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+1.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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