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.
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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.
The Covid-19 pandemic has a vital impact on the growth of the global Carpet Market and altered several market scenarios. The lockdown across various countries and ban on international travel has disrupted the supply chain and revenue chain. The report includes a thorough analysis of the Covid-19 pandemic on the growth of the global 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.
• The Dixie Group among
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Reason to Buy:
• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the global Carpet market.
• Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography.
• The key findings and recommendations highlight crucial progressive industry trends in the Carpet Market, thereby allowing players to develop effective long-term strategies in order to garner their market revenue.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those restraining the growth to a certain extent.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.
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