The global carpet market has experienced significant growth, surpassing a valuation of $73.9 billion with a forecasted CAGR of 4.6% from 2019 to 2026. A recent report by Allied Market Research, titled “Global Carpet Market by End User and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2019-2026,” provides a comprehensive insight into the various facets of this flourishing industry.
Durability, softness, stain resistance, and pet resistance have become pivotal attributes for modern carpets, driving the adoption of cutting-edge technologies and innovations. Breakthroughs such as nylon featuring cationic technology and 100% solution-dyed PET fiber have substantially enhanced the demand for carpets worldwide. Furthermore, collaborations with technologies like Magic Fresh have afforded carpet manufacturers a competitive edge in the market.
The advent of smart carpets, equipped with sensors for temperature, motion, and pressure detection, heralds a new era in the industry. These intelligent floor coverings can communicate with computers and other connected devices, predicting falls, detecting intruders, and even monitoring environmental threats such as chemical spills or fires.
The market segmentation based on material, end user, sales channel, price point, and region offers a nuanced understanding of the diverse dynamics at play. While North America currently commands the lion’s share of the market, the LAMEA region is poised to experience the fastest growth. Key industry players such as Armstrong Flooring, Inc., Balta Group, Shaw Industries Group, Inc., and others are driving innovation and shaping the market landscape.
With an increasing emphasis on environmental sustainability, there is a growing demand for eco-friendly materials in carpet manufacturing. Technological advancements have empowered manufacturers to create intricate designs, personalized options, and smart functionalities, catering to evolving consumer preferences and needs.
The report also underscores the pivotal roles played by the residential and commercial sectors in propelling carpet demand. The rising popularity of modular carpet tiles underscores the industry’s responsiveness to changing market demands. Additionally, consumers’ growing prioritization of health and wellness has fueled demand for anti-microbial and hypoallergenic carpets.
Emerging economies, particularly in Asia-Pacific and Latin America, present significant growth opportunities for the carpet market. The report provides detailed analysis, qualitative insights, and strategic recommendations for industry stakeholders, facilitating informed decision-making and market expansion strategies.
For those seeking a deeper understanding of the carpet market dynamics, the report offers an invaluable resource for procuring insights and analysis. With updates delivered promptly within 2-4 working days of order placement, it serves as a reliable guide for both internal and external stakeholders, supporting strategic planning and business development efforts.
source: www.textiles.einnews.com
