Carpets and rugs have a broader scope in the global market as these are used is in every household and hotel. These are used for decorating a room, insulating a person's feet from cold, and reducing sound from walking. Rugs are smaller in size than carpets. They can be of different colors by using different dyed fibers, and can be of different patterns, and motifs to decorate the surface. Carpets and rugs are for industrial, residential, and commercial establishments such as hotels, or in private homes.
COVID-19 Scenario Analysis:
COVID-19 has severely affected the whole economy and business sector.
Due to COVID-19, retailers are facing problems with the supply of inventory and cannot meet the consumer demand.
North America is the largest producer of carpets and rugs but due to safety measure and government restriction, the exports are stopped and has caused excess inventory that can be a problem for the company.
The COVID-19 has caused a reduction in the demand for a product that has impacted the manufacturer and employees of the companies.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Changes in lifestyle with rapid urbanization is the factor that majorly drives the growth of the global carpets and rugs market. Apart from that increase in disposable income, leaning toward interior decoration, and rise in the people liking toward luxuries boost the growth of the global market. However, the cost of the raw material impacts the growth of carpets and rugs market. Contrarily, the investment in real estate sectors and renovating activities can be an opportunity for the growth of the market.
The global rugs and carpets market trends are as follows:
The market key players are launching their portfolio with the new release on spring trends books. Oriental Weavers, a carpet company of Egypt has launched its 2020 spring trend book featuring the colors, design to watch, and emerging lifestyle decorating direction.
The book identifies the five key interior design trends as interpreted by the Oriental Weavers design team—Imperfect Organic, Artisanal hand, In touch, Culture Collaboration, and Modern History. Each trend is defined with the photography and area rugs from the company’s collection, as well as material used and designer insights. Carpet manufactures are focusing on producing eco-friendly products owing to increase in awareness regarding environment protection.
Key Benefits of the Report:
This study presents the analytical depiction of the global rugs and carpets industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global rugs and carpets market share.
The current market is quantitatively analyzed to highlight the global rugs and carpets market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed global rugs and carpets market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Rugs and Carpets Market Research Report:
What are the leading market players active in the rugs and carpets market?
What the current trends will influence the market in the next few years?
What are the driving factors, restraints, and opportunities in the market?
What future projections would help in taking further strategic steps?
Rugs & Carpets market by Type Report Highlights
Key Market Players
Tarkett S.A, Ikea Group, Genie Carpet Manufacturers, Tai Ping Carpets International Limited, Mohawk Industries Inc., Oriental Weavers Carpets Co., Beaulieu International Group, Dixie Group Inc., Victoria PLC., Shaw Industries Group Inc.