Global Tufted Carpet Market 2024

Tufted Carpet Market Size

The global tufted carpet market declined dramatically to $X in 2022, which is down by -20.8% against the previous year. In general, the total consumption indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +47.9% against 2016 indices. As a result, consumption reached the peak level of $X, and then contracted rapidly in the following year.

Tufted Carpet Production

In value terms, tufted carpet production shrank to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate noticeable growth. The most prominent rate of growth was recorded in 2019 when the production volume increased by 31%. As a result, production attained the peak level of $X. From 2020 to 2022, global production growth remained at a somewhat lower figure.

Tufted Carpet Exports

Exports

In 2022, global tufted carpet exports shrank to X square meters, which is down by -6.6% on 2021 figures. The total export volume increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2017 when exports increased by 9.8% against the previous year. The global exports peaked at X square meters in 2021, and then fell in the following year.

In value terms, tufted carpet exports contracted to $X in 2022. The total export value increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2021 when exports increased by 15%. As a result, the exports reached the peak of $X, and then contracted in the following year.

Exports by Country

The biggest shipments were from China (X square meters), the Netherlands (X square meters), Belgium (X square meters) and Turkey (X square meters), together finishing at 59% of total export. India (X square meters) held the next position in the ranking, followed by the United States (X square meters). All these countries together held near 12% share of total exports. The following exporters - Egypt (X square meters), Vietnam (X square meters), Germany (X square meters), the United Arab Emirates (X square meters) and the UK (X square meters) - together made up 14% of total exports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +30.9%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, China ($X), the Netherlands ($X) and Belgium ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising 46% of global exports. India, the United States, Turkey, Germany, Vietnam, Egypt, the UK and the United Arab Emirates lagged somewhat behind, together accounting for a further 36%.

Vietnam, with a CAGR of +29.3%, 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 global leaders experienced more modest paces of growth.

Export Prices by Country

The average tufted carpet export price stood at $X per square meter in 2022, flattening at the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average export price increased by 5.1% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per square meter in 2012; however, from 2013 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 the United States ($X per square meter), while Turkey ($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 Egypt (+5.5%), while the other global leaders experienced more modest paces of growth.

Tufted Carpet Imports

Imports

In 2022, global imports of tufted carpets and other tufted textile floor coverings contracted to X square meters, dropping by -7.8% against 2021 figures. The total import volume increased at an average annual rate of +2.6% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 18% against the previous year. As a result, imports attained the peak of X square meters, and then contracted in the following year.

In value terms, tufted carpet imports shrank to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 20% against the previous year. As a result, imports reached the peak of $X, and then fell in the following year.

Imports by Country

In 2022, the United States (X square meters) and the UK (X square meters) were the key importers of tufted carpets and other tufted textile floor coveringsacross the globe, together comprising 27% of total imports. It was followed by Germany (X square meters) and Canada (X square meters), together creating a 12% share of total imports. The following importers - the Czech Republic (X square meters), Japan (X square meters), the Netherlands (X square meters), Australia (X square meters), Russia (X square meters), Spain (X square meters), Iraq (X square meters), Belgium (X square meters) and Poland (X square meters) - together made up 28% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Iraq (with a CAGR of +18.5%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest tufted carpet importing markets worldwide were the United States ($X), the UK ($X) and Germany ($X), together accounting for 35% of global imports. Canada, Australia, the Netherlands, Japan, Spain, Poland, the Czech Republic, Belgium, Russia and Iraq lagged somewhat behind, together accounting for a further 30%.

Among the main importing countries, Iraq, with a CAGR of +10.2%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average tufted carpet import price amounted to $X per square meter, waning by -2.6% against the previous year. Over the period under review, the import price saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2021 when the average import price increased by 2.1% against the previous year. Over the period under review, average import prices hit record highs at $X per square meter in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Canada ($X per square meter), while Iraq ($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 Netherlands (+1.4%), while the other global leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :