Northern America: Knotted Carpet Market 2024

Knotted Carpet Market Size in Northern America

In 2022, the North American knotted carpet market increased by 2.1% to $X, rising for the second year in a row after two years of decline. Overall, consumption showed a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Knotted Carpet Production in Northern America

In value terms, knotted carpet production shrank to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the production volume increased by 4.4% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Knotted Carpet Exports

Exports in Northern America

In 2022, overseas shipments of knotted carpets and other knotted textile floor coverings increased by 4.1% to X square meters, rising for the third consecutive year after two years of decline. Overall, exports, however, showed a noticeable decrease. The most prominent rate of growth was recorded in 2013 when exports increased by 47% against the previous year. As a result, the exports reached the peak of X square meters. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, knotted carpet exports shrank to $X in 2022. Over the period under review, exports, however, continue to indicate a slight reduction. The growth pace was the most rapid in 2020 with an increase of 53%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States was the largest exporter of knotted carpets and other knotted textile floor coverings in Northern America, with the volume of exports finishing at X square meters, which was approx. 89% of total exports in 2022. It was distantly followed by Canada (X square meters), achieving an 11% share of total exports.

Exports from the United States decreased at an average annual rate of -2.7% from 2012 to 2022. At the same time, Canada (+2.4%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in Northern America, with a CAGR of +2.4% from 2012-2022. While the share of Canada (+4.1 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United States (-4.1 p.p.) displayed negative dynamics.

In value terms, the United States ($X) remains the largest knotted carpet supplier in Northern America, comprising 82% of total exports. The second position in the ranking was taken by Canada ($X), with an 18% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States amounted to -1.8%.

Export Prices by Country

The export price in Northern America stood at $X per square meter in 2022, reducing by -9.3% against the previous year. Overall, the export price, however, saw a mild expansion. The pace of growth was the most pronounced in 2020 an increase of 48% against the previous year. As a result, the export price attained the peak level of $X per square meter. From 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Canada ($X per square meter), while the United States stood at $X per square meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+1.0%).

Knotted Carpet Imports

Imports in Northern America

In 2022, purchases abroad of knotted carpets and other knotted textile floor coverings increased by 18% to X square meters, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +2.9% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, knotted carpet imports soared to $X in 2022. The total import value increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of import peaked at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

The United States was the largest importing country with an import of around X square meters, which accounted for 80% of total imports. It was distantly followed by Canada (X square meters), making up a 20% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to knotted carpet imports into the United States stood at +2.7%. At the same time, Canada (+4.2%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of +4.2% from 2012-2022. From 2012 to 2022, the share of Canada increased by +2.3 percentage points.

In value terms, the United States ($X) constitutes the largest market for imported knotted carpets and other knotted textile floor coverings in Northern America, comprising 94% of total imports. The second position in the ranking was taken by Canada ($X), with a 6.2% share of total imports.

In the United States, knotted carpet imports increased at an average annual rate of +2.8% over the period from 2012-2022.

Import Prices by Country

The import price in Northern America stood at $X per square meter in 2022, growing by 3.3% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the import price increased by 11% against the previous year. Over the period under review, import prices reached the maximum at $X per square meter in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($X per square meter), while Canada stood at $X per square meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+0.2%).

Source: IndexBox Platform

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