Carpet Market 2024: Estimated to Reach $73.9 Billion by 2026, Growing at 4.6% CAGR From 2019 to 2026

North America leads in terms of carpet market revenue share and is expected to retain its dominance during the carpet market analysis.

WILMINGTON, NEW CASTLE, DELAWARE 19801 USA, UNITED STATES, June 28, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, " Global Carpet Market by End User and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2019-2026,". The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends. The carpet market size was valued at $51.9 billion in 2018, and is expected to reach $73.9 billion by 2026, registering a CAGR of 4.6% from 2019 to 2026.

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Durability, softness, stain and pet resistance attributes have become basic prerequisite for carpets. Adoption of new technologies and innovations have resulted in significant improvement in carpet performance while providing elegant patterns and color options to help keeping carpet industry on the forefront of design. Innovations in fabrics such as introduction of nylon featuring cationic technology which reduces the number of dye sites in the fiber and aids in stain resistibility has significantly increased the overall demand of carpets.

In addition, 100% solution-dyed PET fiber aids in reduction of shedding and stands up to foot traffic over time. Furthermore, invention of 6 nylon fiber material have resulted in strength, resiliency, colorfastness, abrasion resistance, cleanability soil resistance, and dyeing flexibility of carpets. Collaboration with Magic Fresh technology which aids in neutralizing common household odors has provided a competitive edge for carpet manufactures. As a result advancement in carpet fibers is expected to propel the overall carpet market growth.

Smart carpets are poised to gain wide traction in the upcoming years. Smart carpets are intelligent floor coverings which communicates with computers and other connected devices with the help of sensors technology. Smart fabrics are now being used in carpets that can detect the temperature, motion, vibration and pressure signs. These smart carpets have a network of optical fibers, which aids in mapping the walking pattern of an individual. The carpets are equipped to predict a fall or a sudden incident from the patterns of walking. Furthermore, these smart carpets can warn of intruders by observing unusual patterns and can also detect environmental threats, like chemical spills or fires.

The global carpet market is segmented into, material, end user, sales channel, price point and region. Based on material, the global market is studied across nylon, olefin, polyester and others. Depending on end user, the market is bifurcated residential and commercial. Based on sales channel, the global market is studied across hypermarket & supermarket, specialty store and online sales channel. Depending on price point the global market is classified into economy and luxury.

Based on regions, North America garnered the major share in 2019, holding more than two-fifths of the total market. At the same time, LAMEA would manifest the fastest CAGR of 6.7% from 2019 to 2026. The other regions covered in the report include Europe and Asia-Pacific.

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Some of the key players operating in the carpet market includes, Armstrong Flooring, Inc., Balta Group, Beaulieu International Group N.V., Shaw Industries Group, Inc., Brumar, Dorsett industries, Mannington Mills, Inc., Mohawk Industries, Inc., Tarkett S.A., and The Dixie Group among others.

𝐄𝐱𝐩𝐥𝐨𝐫𝐢𝐧𝐠 𝐆𝐫𝐨𝐰𝐭𝐡 𝐏𝐫𝐨𝐬𝐩𝐞𝐜𝐭𝐬 𝐚𝐧𝐝 𝐃𝐞𝐦𝐚𝐧𝐝 𝐓𝐫𝐞𝐧𝐝𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐂𝐚𝐫𝐩𝐞𝐭 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

𝐒𝐡𝐢𝐟𝐭 𝐭𝐨𝐰𝐚𝐫𝐝𝐬 𝐒𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐥𝐞 𝐚𝐧𝐝 𝐄𝐜𝐨-𝐅𝐫𝐢𝐞𝐧𝐝𝐥𝐲 𝐌𝐚𝐭𝐞𝐫𝐢𝐚𝐥𝐬:
○ With increasing awareness about environmental issues, there's a growing demand for carpets made from sustainable and eco-friendly materials such as recycled fibers, natural fibers like wool or jute, and bio-based materials.
○ Consumers are increasingly looking for products that have minimal environmental impact, driving manufacturers to innovate and offer eco-friendly alternatives.

𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧 𝐢𝐧 𝐃𝐞𝐬𝐢𝐠𝐧 𝐚𝐧𝐝 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲:
Advancements in technology have enabled carpet manufacturers to create innovative designs and patterns, catering to diverse consumer preferences.
○ Digital printing techniques allow for more intricate designs and customization options, meeting the demand for unique and personalized carpets.
○ Smart carpets embedded with sensors for temperature control, sound insulation, and even monitoring health metrics are gaining traction, especially in commercial spaces.

𝐑𝐞𝐬𝐢𝐝𝐞𝐧𝐭𝐢𝐚𝐥 𝐚𝐧𝐝 𝐂𝐨𝐦𝐦𝐞𝐫𝐜𝐢𝐚𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬:
○ The residential market remains a significant driver of carpet demand, with factors such as home renovations, new construction projects, and changing interior design trends influencing consumer choices.
○ In the commercial sector, demand for carpets is driven by factors like office space expansions, renovations, and the growing hospitality industry.
○ Modular carpet tiles are becoming increasingly popular in commercial settings due to their ease of installation, maintenance, and design flexibility.

𝐇𝐞𝐚𝐥𝐭𝐡 𝐚𝐧𝐝 𝐖𝐞𝐥𝐥𝐧𝐞𝐬𝐬 𝐂𝐨𝐧𝐬𝐢𝐝𝐞𝐫𝐚𝐭𝐢𝐨𝐧𝐬:
○ Consumers are increasingly prioritizing health and wellness, leading to a demand for carpets that contribute to indoor air quality and comfort.
○ Anti-microbial and hypoallergenic carpets are gaining popularity, particularly in healthcare facilities and residential spaces where allergies or sensitivities are a concern.

𝐆𝐥𝐨𝐛𝐚𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬:
○ Emerging economies, particularly in Asia-Pacific and Latin America, are witnessing rapid urbanization and infrastructure development, driving demand for carpets in both residential and commercial sectors.
○ The Middle East and North Africa region also present growth opportunities, particularly in the hospitality and tourism sectors.
○ Trade dynamics, including tariffs and regulations, can influence market growth and demand patterns globally.

𝐊𝐞𝐲 𝐁𝐞𝐧𝐞𝐟𝐢𝐭𝐬 𝐟𝐨𝐫 𝐂𝐚𝐫𝐩𝐞𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭:

○ The carpet report provides an extensive analysis of the current and emerging carpet market trends.
○ The report provides detailed qualitative and quantitative analysis of the current trends and future estimations that help evaluate the prevailing carpet market opportunity.
○ Carpet market forecast is offered along with information related to key drivers, restraints, and opportunities.
○ The carpet market analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
○ The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth.

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𝐑𝐞𝐚𝐬𝐨𝐧𝐬 𝐭𝐨 𝐛𝐮𝐲 𝐂𝐚𝐫𝐩𝐞𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭:

• Procure strategically important competitor information, analysis, and insights to formulate effective R&D strategies.
• Recognize emerging players with potentially strong product portfolio and create effective counter-strategies to gain competitive advantage.
• Classify potential new clients or partners in the target demographic.
• Develop tactical initiatives by understanding the focus areas of leading companies.
• Plan mergers and acquisitions meritoriously by identifying Top Manufacturer.
• Develop and design in-licensing and out-licensing strategies by identifying prospective partners with the most attractive projects to enhance and expand business potential and Scope.
• Report will be updated with the latest data and delivered to you within 2-4 working days of order.
• Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
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𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 "𝐀𝐌𝐑 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:

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https://www.alliedmarketresearch.com/silk-market

○ Wallpaper Market is projected to reach $3.2 billion by 2031
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