Latin America and the Caribbean: Knotted Carpet Market 2024

Knotted Carpet Market Size in Latin America and the Caribbean

The Latin American knotted carpet market stood at $X in 2022, picking up by 4.1% against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Knotted Carpet Production in Latin America and the Caribbean

In value terms, knotted carpet production expanded slightly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the production volume increased by 21% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Knotted Carpet Exports

Exports in Latin America and the Caribbean

Knotted carpet exports declined sharply to X square meters in 2022, with a decrease of -17.9% against 2021. Over the period under review, exports saw a slight decline. The most prominent rate of growth was recorded in 2013 with an increase of 41%. Over the period under review, the exports reached the peak figure at X square meters in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, knotted carpet exports contracted to $X in 2022. In general, exports, however, continue to indicate measured growth. The most prominent rate of growth was recorded in 2016 with an increase of 155% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

The shipments of the four major exporters of knotted carpets and other knotted textile floor coverings, namely Panama, Chile, Peru and Brazil, represented more than two-thirds of total export. It was distantly followed by Mexico (X square meters), Argentina (X square meters) and Colombia (X square meters), together generating an 18% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Chile (with a CAGR of +10.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest knotted carpet supplying countries in Latin America and the Caribbean were Chile ($X), Peru ($X) and Brazil ($X), with a combined 74% share of total exports.

Chile, with a CAGR of +11.0%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per square meter, surging by 13% against the previous year. Overall, the export price recorded resilient growth. The most prominent rate of growth was recorded in 2016 an increase of 101% against the previous year. Over the period under review, the export prices hit record highs at $X per square meter in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Chile ($X per square meter), while Panama ($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 Brazil (+7.3%), while the other leaders experienced more modest paces of growth.

Knotted Carpet Imports

Imports in Latin America and the Caribbean

In 2022, purchases abroad of knotted carpets and other knotted textile floor coverings decreased by -25% to X square meters for the first time since 2019, thus ending a two-year rising trend. Total imports indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +65.9% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 67%. As a result, imports reached the peak of X square meters, and then fell remarkably in the following year.

In value terms, knotted carpet imports declined to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 38% against the previous year. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Brazil was the main importing country with an import of about X square meters, which finished at 74% of total imports. It was distantly followed by Chile (X square meters), constituting a 12% share of total imports. Guyana (X square meters) and Cayman Islands (X square meters) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to knotted carpet imports into Brazil stood at +7.3%. At the same time, Cayman Islands (+17.4%) and Chile (+16.3%) displayed positive paces of growth. Moreover, Cayman Islands emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +17.4% from 2012-2022. By contrast, Guyana (-10.8%) illustrated a downward trend over the same period. While the share of Brazil (+18 p.p.) and Chile (+7.8 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Guyana (-11 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest knotted carpet importing markets in Latin America and the Caribbean were Brazil ($X), Chile ($X) and Cayman Islands ($X), together comprising 52% of total imports.

Cayman Islands, with a CAGR of +17.0%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per square meter, with an increase of 21% against the previous year. In general, the import price, however, showed a noticeable descent. Over the period under review, import prices attained the maximum at $X per square meter in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Cayman Islands ($X per square meter), while Brazil ($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 Guyana (+11.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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