Europe Carpet Market Growth & Trends
The Europe carpet market size is expected to reach USD 73.89 billion by 2030 to expand at a CAGR of 4.3% from 2023 to 2030 according to a new report by Grand View Research, Inc. The growing application of the product in residential and non-residential sectors on account of its high market visibility for soft flooring products and good insulation properties, such as floor insulation, is projected to positively influence the market growth.
Woven carpets offer designers, architects, and end-users’ distinctive advantages over other flooring options in terms of aesthetics, value, and performance. These strong woven carpets are either made by hand or a machine, but both processes typically use the same method. The growing interest toward handmade woven products is one of the reasons for booming trends.
The high demand for residential and non-residential applications in various countries, including Germany, France, Russia, Italy, and the U.K., will fuel the product demand for Europe market in the next few years. This could be attributed to the heavy deployment of carpets as flooring materials in production units, commercial firms, and non-residential offices across Europe.
Germany is the main leader in imports, accounting for around one billion euro worth annually. The key market drivers include development in the transportation and construction industries, along with rise in renovation activities. Also, the buyers are increasingly moving towards attractive and bold colors and non-geometrical exclusive patterns, which also aids to drive demand in the market.
The rising trends include an increase in the demand for eco-friendly products, growing acceptance of carpet tiles, and inclination towards contemporary area carpets. Furthermore, the demand for exclusively high-quality handmade products will remain high, therefore the industry is expected to witness growth in regional markets for the next few years.
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Europe Carpet Market Report
Europe Carpet Market Report Highlights
- Propylene fabrics have witnessed a rise in demand for durable applications, including geotextile, automotive, and construction industries, mostly in China and India. Furthermore, the growing elderly population mainly in the U.S., Japan, and Europe will possibly spur fully-grown incontinence product demand, which in turn, is projected to drive the propylene non-woven textile market over the coming years.
- Tufted segment dominated the Europe market, accounted for over 49.52% of the overall volume in 2022. Adhesives and other pigment materials are used in them to enhance the mechanical strength of the fiber. Also, they can be molded into different textures and sizes, which, in turn, is expected to have a positive impact on European market growth over the forecast period.
- Demand in residential application accounted for USD 33,363.6 million in 2022 and is expected to reach USD 43,430.6 million by 2030, growing at a CAGR of 3.4% from 2023 to 2030. Demand in residential application is likely to exhibit high growth on account of rising housing completions at a double-digit pace soon. Carpets are installed in newly constructing residential places owing to their reasonable cost, favorable aesthetics, and ease of installation. The residential replacement segment will witness growth owing to consumer’s tendency to replace the older carpet with the new one.
- Increasing demand for used polyester fiber is one of the key drivers in the market. European buyers are gradually opting for sustainable fabrics, which are made from reused materials. Rising awareness regarding environmental protection is the main factor enhancing the demand for viable textiles. Accessibility of sustainable clothing in a varied range of bright colors, attractive prints, and stylish designs is further supplementing the product demand.
