Global Carpets & Rugs Market Share Likely to Reach At a CAGR of 4.7% By 2030

According to Custom Market Insights, The global carpets and rugs market size was estimated to be worth USD 77 billion in 2021 and is projected to reach USD 120 billion by 2030, with a CAGR of around 4.7% between 2022 and 2030. The analysis examines the market’s drivers and restraints as well as the effects they have on demand over the forecast period for carpets and rugs. The paper also looks at international opportunities in the market for carpets and rugs globally.

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Carpets & Rugs Market: Overview

Especially when the child is at home or school, carpets and rugs serve as a safety measure to reduce falls and prevent catastrophic injuries in addition to enhancing the attractiveness of the house and its surroundings. As construction activity rises in both developed and emerging nations, demand for these materials keeps rising.

Due to their affordability and ease of installation, carpets and rugs are typically put in new residences. Residential carpet demand for ultra-softness is propelling global revenue growth. The demand for rugs is also being fueled by the trend of adding plush rugs for warmth to living rooms and bedrooms to create a cozy atmosphere. Innovative luxury rugs that enhance their look without compromising their durability and stain resistance are being marketed and promoted by manufacturers more and more.

Growth Factors

The development of naturally biodegradable materials like jute is promoting market profit expansion. The eco-friendliness of carpets and rugs is enhanced by the use of materials like sisal and sea glass, and the product’s efficiency is improved by the use of chemical additives like antibacterial agents, flame retardants, and pest control agents. The revenue of the global carpet market over the projection period, particularly during the global blockade, was also impacted by the availability of a variety of products through online sales channels, along with the growing trend of online shopping due to the numerous benefits offered.

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Segmental Overview

Due to its affordable price and simple and quick manufacturing method, the tufted carpet and rug market is anticipated to increase gradually during the projection period. Tufting can be constructed in a variety of styles and is appropriate for all types of yarn. Most people know tufted carpets for their durability, dependability, and durability. Usually, these are utilized for wall carpeting. These are perfect for areas with heavy furniture because they are elastic as well.

Regional Overview

Due to the significant amount of commercial and residential remodeling projects underway there and the region’s growing purchasing power, North America accounted for the greatest portion of global sales in 2021. The US building and housing sector’s explosive growth is a key factor in the market’s revenue growth. Additionally, the widespread practice of publishing original interior design-related content on social media platforms has aided in the expansion of this business in the area.