Portugal: Tufted Carpet Market 2024

Tufted Carpet Market Size in Portugal

In 2022, the Portuguese tufted carpet market decreased by -13% to $X for the first time since 2018, thus ending a three-year rising trend. Overall, the total consumption indicated a pronounced increase from 2012 to 2022: its value 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. Over the period under review, the market attained the peak level at $X in 2021, and then contracted in the following year.

Tufted Carpet Production in Portugal

In value terms, tufted carpet production dropped to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.1% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2013 when the production volume increased by 18% against the previous year. Tufted carpet production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Tufted Carpet Exports

Exports from Portugal

In 2022, overseas shipments of tufted carpets and other tufted textile floor coverings increased by 3.9% to X square meters, rising for the second year in a row after three years of decline. In general, exports continue to indicate a perceptible expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 29% against the previous year. The exports peaked at X square meters in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, tufted carpet exports reached $X in 2022. The total export value increased at an average annual rate of +4.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 27% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

The UK (X square meters), Spain (X square meters) and the United States (X square meters) were the main destinations of tufted carpet exports from Portugal, with a combined 60% share of total exports. Turkey, Morocco, France, Angola, Italy, Switzerland, Germany, Belgium, the United Arab Emirates and the Netherlands lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +55.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Spain ($X) and Italy ($X) appeared to be the largest markets for tufted carpet exported from Portugal worldwide, together accounting for 46% of total exports. The United States, France, Belgium, Germany, Switzerland, the Netherlands, Angola, Morocco, Turkey and the United Arab Emirates lagged somewhat behind, together comprising a further 42%.

Turkey, with a CAGR of +33.1%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average tufted carpet export price amounted to $X per square meter, waning by -2.8% against the previous year. In general, export price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tufted carpet export price increased by +90.7% against 2017 indices. The most prominent rate of growth was recorded in 2019 an increase of 28% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per square meter in 2021, and then fell modestly in the following year.

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 Italy ($X per square meter), while the average price for exports to Turkey ($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 Germany (+15.0%), while the prices for the other major destinations experienced more modest paces of growth.

Tufted Carpet Imports

Imports into Portugal

After two years of growth, supplies from abroad of tufted carpets and other tufted textile floor coverings decreased by -4.6% to X square meters in 2022. Overall, imports, however, showed buoyant growth. The growth pace was the most rapid in 2013 when imports increased by 45%. Imports peaked at X square meters in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, tufted carpet imports declined to $X in 2022. Over the period under review, total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +8.0% 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 +22.4% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 34% against the previous year. Imports peaked at $X in 2021, and then reduced in the following year.

Imports by Country

Belgium (X square meters), Spain (X square meters) and China (X square meters) were the main suppliers of tufted carpet imports to Portugal, with a combined 49% share of total imports. Egypt, the Netherlands, Vietnam, Germany, France, India, Italy, the UK and Denmark lagged somewhat behind, together accounting for a further 49%.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +161.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X) constituted the largest supplier of tufted carpets and other tufted textile floor coverings to Portugal, comprising 33% of total imports. The second position in the ranking was held by Belgium ($X), with a 15% share of total imports. It was followed by the Netherlands, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain stood at +14.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+8.1% per year) and the Netherlands (+8.4% per year).

Import Prices by Country

In 2022, the average tufted carpet import price amounted to $X per square meter, declining by -4.4% against the previous year. In general, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 16% against the previous year. The import price peaked at $X per square meter in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Spain ($X per square meter), while the price for Egypt ($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 Spain (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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