Reports and Data's latest report states that the global Knotted Carpets and Rugs Market is predicted to achieve a size of USD 163.75 Billion by 2028 and exhibit a revenue compound annual growth rate (CAGR) of 4.4% over the forecast period. The market is expected to be driven by high consumer spending on home renovation and interior design, as well as rapid globalization and urbanization.
Carpets and rugs serve both artistic and functional purposes in homes and offices by enhancing the overall appeal and providing a protective layer for floors. They are particularly important in regions with colder climates, where they trap warmth. As homeowners seek plush and comfortable homes to enhance their living experiences, the demand for carpets and rugs has increased significantly. The global Knotted Carpets and Rugs Market revenue growth is expected to be propelled by the growing number of residential and commercial projects worldwide and the increasing emphasis on the aesthetic aspects of interiors.
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Top Profiled Companies in the Global Knotted Carpets and Rugs Market Report:
Victoria Plc., Tarkett S.A., Ikea Group, Interface Inc., Mohawk Industries, Inc., Milliken Company, Oriental Weavers, Dixie Group Incorporation, Tai Ping Carpets International Limited, and Home Depot Inc.
Driving Factors of Knotted Carpets and Rugs Market:
- Home renovation and remodeling: One of the primary drivers of the Knotted Carpets and Rugs Market is home renovation and remodeling. As homeowners renovate and update their homes, they often replace old or worn carpets and rugs with new ones.
- Growth of the construction industry: The growth of the construction industry also plays a significant role in the Knotted Carpets and Rugs Market. As more homes, apartments, and commercial buildings are constructed, the demand for carpets and rugs increases.
- Increase in disposable income: As disposable income increases, consumers are more likely to purchase high-quality carpets and rugs for their homes.
- Growing preference for eco-friendly products: With the growing concern for the environment, consumers are increasingly looking for eco-friendly and sustainable products. This has led to an increase in demand for carpets and rugs made from natural fibers such as wool and cotton.
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Further market segmentation
Type Outlook (Revenue, USD Billion; 2018–2028)
- Woven Carpets and Rugs
- Knotted Carpets and Rugs
- Needle-punched Carpets and Rugs
- Tufted Carpets and Rugs
- Others
Material Outlook (Revenue, USD Billion; 2018–2028)
- Polyester
- Nylon
- Polypropylene
- Others
Application Outlook (Revenue, USD Billion; 2018–2028)
- Residential
- Commercial
- Others
Distribution Channel Outlook (Revenue, USD Billion; 2018–2028)
- Supermarket/Hypermarkets
- Online
- Specialty Stores
- Others
Key Takeaways of the Global Knotted Carpets and Rugs Market Report:
- A comprehensive overview of the global Carpets and Rugs industry.
- Accurate market projections in terms of market size, share, and volume.
- Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
- Deep-dive analysis of the upcoming market trends.
- Qualitative and quantitative analyses of the global Knotted Carpets and Rugs Market.
- Elaborate study of the leading regional markets in the global Knotted Carpets and Rugs Market.
- Complete overview of the market’s competitive landscape.
- Brief look at the company profiles and portfolios.
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