Scandinavia: Tufted Carpet Market 2024

Tufted Carpet Market Size in Scandinavia

The Scandinavia tufted carpet market reduced modestly to $X in 2022, declining by -3.1% against the previous year. The market value increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X, and then contracted in the following year.

Tufted Carpet Production in Scandinavia

In value terms, tufted carpet production amounted to $X in 2022 estimated in export price. In general, production, however, saw a slight shrinkage. The most prominent rate of growth was recorded in 2016 when the production volume increased by 105%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Tufted Carpet Exports

Exports in Scandinavia

In 2022, overseas shipments of tufted carpets and other tufted textile floor coverings increased by 2% to X square meters for the first time since 2017, thus ending a four-year declining trend. Overall, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 36% against the previous year. Over the period under review, the exports attained the peak figure at X square meters in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, tufted carpet exports fell slightly to $X in 2022. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by 31%. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Sweden dominates exports structure, recording X square meters, which was near 94% of total exports in 2022. The following exporters - Norway (X square meters) and Finland (X square meters) - each reached a 5.9% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to tufted carpet exports from Sweden stood at +3.5%. At the same time, Norway (+6.9%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +6.9% from 2012-2022. By contrast, Finland (-20.2%) illustrated a downward trend over the same period. Sweden (+23 p.p.) significantly strengthened its position in terms of the total exports, while Finland saw its share reduced by -24.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) remains the largest tufted carpet supplier in Scandinavia, comprising 94% of total exports. The second position in the ranking was held by Finland ($X), with a 3.2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Sweden amounted to +2.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Finland (-16.8% per year) and Norway (+10.9% per year).

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per square meter, declining by -4.1% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the export price increased by 28%. As a result, the export price reached the peak level of $X per square meter, and then contracted slightly in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Finland ($X per square meter), while Norway ($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 Finland (+4.2%), while the other leaders experienced mixed trends in the export price figures.

Tufted Carpet Imports

Imports in Scandinavia

Tufted carpet imports fell slightly to X square meters in 2022, declining by -3.6% compared with the previous year. The total import volume increased at an average annual rate of +3.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 14%. Over the period under review, imports attained the peak figure at X square meters in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, tufted carpet imports reduced to $X in 2022. The total import value increased at an average annual rate of +1.7% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 21% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Sweden was the largest importer of tufted carpets and other tufted textile floor coverings in Scandinavia, with the volume of imports accounting for X square meters, which was approx. 61% of total imports in 2022. Norway (X square meters) ranks second in terms of the total imports with a 20% share, followed by Finland (19%).

From 2012 to 2022, average annual rates of growth with regard to tufted carpet imports into Sweden stood at +4.1%. At the same time, Finland (+4.6%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +4.6% from 2012-2022. Norway experienced a relatively flat trend pattern. Sweden (+4.7 p.p.) and Finland (+2.3 p.p.) significantly strengthened its position in terms of the total imports, while Norway saw its share reduced by -7% from 2012 to 2022, respectively.

In value terms, Sweden ($X) constitutes the largest market for imported tufted carpets and other tufted textile floor coverings in Scandinavia, comprising 57% of total imports. The second position in the ranking was taken by Norway ($X), with a 24% share of total imports.

In Sweden, tufted carpet imports increased at an average annual rate of +2.3% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Norway (-0.5% per year) and Finland (+3.4% per year).

Import Prices by Country

The import price in Scandinavia stood at $X per square meter in 2022, which is down by -1.8% against the previous year. Over the period under review, the import price continues to indicate a mild curtailment. The pace of growth appeared the most rapid in 2021 an increase of 6.2% against the previous year. Over the period under review, import prices attained the maximum at $X per square meter in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Norway ($X per square meter), while Sweden ($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 Norway (-0.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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