Report Code : A05858
Last few years have seen radical change in consumer preference. The transition is now drifting towards vinyl flooring which is now perceived as more durable, extremely affordable, pet friendly alternative for carpets.
Himanshu Vig
Lead Analyst, Consumer Goods at Allied Market Research
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 global carpet market size was $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.
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. Such innovative attributes of carpet and economical price points are expected to further boost the revenue growth of overall market.
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. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA
Key Findings of the Carpet Market :
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.
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Carpet Market by Material (Nylon, Olefin, Polyester, Others), by End User (Residential, Commercial), by Sales Channel (Hypermarket and Supermarket, Specialty Store, Online sales Channel), by Price Point (Economy, Luxury), and Region: Global Report opportunity Analysis and Industry Forecast, 2019-2026
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