Global demand for woven carpets and rugs is forecast to expand 9.8% p.a. between 2014 – 2018. Azerbaijan, Greece, Morocco, Turkey, and the United States are considered the highest potential markets in the coming years.
According to recently published research conducted by a leading international market research company, Global Research & Data Services, the expansion of the global woven carpet and rug industry is forecast to reach 9.8% p.a. in the coming years. Between 2007 and 2013 the market increased with an average annual growth of 4.0%. Currently, woven carpets and rugs of man-made materials cover the largest part of the world market accounting for 56.1% of the demand while the remaining market share is divided between carpets and rugs of fine animal hair and wool (18.3%), hand made carpets and rugs (5.6%), coconut fibre (coir) carpets and rugs (2.0%), and other woven carpets and rugs (18.2%).
China, Japan, Turkey, the United Kingdom, and the United States represent the largest woven carpet and rug markets while the strongest annual growth is forecast to occur in Morocco (19.0%), Greece (18.5%), Azerbaijan (18.4%), Estonia (16.7%), and Kyrgyzstan (16.3%). Woven carpet and rug market size compared to market growth in different countries
Based on in-house analysis and an advanced model which takes into consideration the actual market size, trends, forecast market growth, and changes in the market environment, Global Research and Data Services calculates the Market Potential Rates, the predicted market potential of the country in the coming years. The larger the Market Potential Rate, the more potential the market has in the coming years; and conversely, the smaller the rate, the less potential the market is considered to have in the future. Based on these Market Potential...