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The ongoing surge in residential Real estate signifies a sustained demand for carpets, bolstering the market and riding on the coattails of this expansion.
NEWARK, DELAWARE, UNITED STATES OF AMERICA, November 3, 2023 /EINPresswire / -- According to FMI, in 2022 the Middle East flooring and carpet ecosystem was valued at US$ 9,432.1 million. This is expected to increase to US$ 10,169.2 million by 2023. Demand for flooring and carpets in the Middle East is anticipated to grow at a 7.8% CAGR during the forecast period, reaching a valuation of US$ 21,521.3 million by 2033.
Manufacturers are able to introduce eye catching and innovative designs on carpets as a result of advancements in printing technology. This is anticipated to be a significant market trend. The Middle East flooring and carpet market is expected to increase during the forecast period due to manufacturers being encouraged to introduce goods with a variety of styles and patterns in response to the growing demand for novel carpet styles and designs.
The players are trying to minimize the constraints and concentrate on increasing production capabilities by using sophisticated machinery and technical advancements. The demand for strong aesthetics that are both natural looking and adaptable is driving the floor covering market in the Middle East.
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Key Takeaways from the Analysis
Saudi Arabia is anticipated to expand at a rate of 9% CAGR.
UAE's flooring and carpet business is expected to garner an 8.1% CAGR between 2023 and 2033.
The market in Qatar is expected to grow at a 9.4% CAGR until 2033.
From 2023 to 2033, Oman is anticipated to endure at a 4.9% CAGR.
Over the projected period, an 8.7% CAGR is expected for the landscape in Kuwait.
By 2023, the carpets category is projected to have grown to a market share of 32.9%.
The residential segment is likely to account for 35.2% of the global market in 2023.
“Consumers in the Middle East are inclined towards renovating the buildings with aesthetic carpets, laminates and rugs. This is boosting the demand for flooring and carpet made with innovative and smart features,” – Says Sneha Varghese (Senior Consultant, Consumer Products & Goods)
Competitive Landscape
A key tactic for participants in the Middle East flooring and carpet ecosystem is sustainability. They understand that consumers are becoming more and more interested in eco friendly goods and production methods. This entails minimizing energy use, cutting production waste, and obtaining sustainable materials.
Sustainable flooring options-like cork, bamboo, and recycled materials-are being pushed in line with the growing environmental consciousness of the region. Companies are demonstrating their dedication to sustainable practices by pursuing certifications such as LEED (Leadership in Energy and Environmental Design). This not only tackles environmental issues but also attracts consumers who value eco friendly and ethical decisions, which eventually improves the standing and competitiveness of Middle East manufacturers.
Key Companies Profiled
Al Sorayai Group
Abu Dhabi National Carpet Factory
Mac Carpet
Prado Egypt For Carpet
Gheytaran Carpet
Oriental Weavers
Standard Carpets Ind. LLC.
Saida Carpets
Dormina
Al Mira Carpet Factory
Abdullatif Carpets
Key Developments
In 2021, B.I.G. Yarns, a division of Beaulieu International Group, declared that they were working on EqoCycle, a fully recyclable PA6 yarn that has 75% recycled content and performs similarly to virgin PA6 yarn.
RAK Ceramics will supply kitchen and bathroom equipment and tiles to 26 residential units at Azizi's Riviera Waterfront project in Dubai by 2023. The project will make use of high end products from RAK Ceramics, such as its most modern porcelain tile line and its giant format tile maximus mega slab.
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Segmentation
By Product Type:
Carpets
Tufting
Woven
Rugs
Accent Rugs
Area Rugs
Others Rugs
Artificial Grass
Carpet Tiles
Vinyl Flooring
Laminate Parquet Flooring
By Material:
Polypropylene
Nylon
Polyester
Others
By Application:
Residential
Commercial offices
Retail
Hospitality
Healthcare and Hospitals
Education Institutes
Automotive
Industrial
Others
By Country:
Saudi Arabia
The UAE
Egypt
Turkiye
Iran
Qatar
Oman
Kuwait
Bahrain
Jordan
Rest of Middle East
Author By:
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
More Related Reports on Consumer Product Domain:
Flooring and Carpets Market Size : The global market is forecasted to reach $297,976.0 million in 2023, up from $283,995.4 million in 2022. By 2033, it is expected to further increase to an estimated $485,371.5 million, driven by a consistent growth trajectory with a 5.0% compound annual growth rate (CAGR) from 2023 to 2033.
Carpet Extraction Cleaner Market Share : The market is poised to achieve a value of $1,685.6 million in 2023, with a robust compound annual growth rate (CAGR) of 4.7% expected throughout the forecast period. By 2033, the market is projected to expand further, reaching an estimated size of $2,668.2 million.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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Future Market Insights, Inc.
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