Global Carpet & Rug Sector to Reach USD 39.1 Bn by 2021, States New Lucintel Study Published at MarketPublishers.com14 Dec 2016 • by Natalie Aster
LONDON – The global carpet and rug market seems to have a bright future, mainly supported by the presence of a host of opportunities in the non-residential, residential, and transportation segments. Worldwide, the carpet and rug marketplace is poised to gain traction, registering a 2.6% CAGR through to 2021 to see its value amounting to USD 39.1 billion by the end of the forecast period.
The key stimulators of growth of the market are the rapid development and expansion of the construction and transportation industry and an upsurge in renovation activities. Customers are gravitating towards bold attractive colours and non-geometrical designs of rugs and carpets, which also contributes to an increase in market demand.
Amid the product types, woven, tufted, and knotted make up the leading segments. The tufted segment will likely capture the largest share of demand in 2021. Knotted carpets and rugs are anticipated to see the most rapid growth in the offing owing to the soaring demand for ecologically friendly carpets and rugs produced from biodegradable and renewable natural fibers.
With respect to end-use sectors, the residential segment is poised to continue to take the lead and demonstrate the fastest growth in terms of both value and volume. The demand for carpets and rugs is expected to be spurred by expanding housing renovation and new residential construction over the forecast period.
New report “Growth Opportunities in the Global Carpet and Rug Market” elaborated by Lucintel draws up a comprehensive picture of the market. It covers market background and classifications. The study provides market size estimates and segmentation by product type and material type, keeping track of major market trends from 2010 to 2015, globally and region-wise. It provides market trends across the major regional markets by volume and value; gives an overview of macroeconomic trends; and offers detailed market forecast to 2021. The report pinpoints key growth opportunities and includes a strategic analysis; includes a comprehensive examination of the key competitors. Furthermore, the research publication includes detailed company profiles of the 10 dominant market participants.
More new research reports by the publisher can be found at Lucintel page.