Europe carpet market is expected to reach USD
60.31billion by 2022, according to a new report by Grand View Research, Inc.
Rising expenditure towards home improvement and residential floor replacement
in developed markets of Germany and Spain is expected to fuel the demand for
soft covering flooring material, particularly, carpet.
Rising environmental concerns
over green house gas emissions has resulted in a shifting preference towards
the development of biodegradable and sustainable products. In January 2015,
Niaga established partnership with DSM for the development of carpet technology
with 100% recycling and 95% energy reduction processes.
Demand for nylon exceeded 315.0
million square meters in 2014 and is expected to foresee significant gains
owing to increased acceptance of polyamides for providing good wear properties.
Over the past few years, companies including ROLS have increased their
expenditure for incorporating nylon along with wool and yarn to manufacture
tailored base product forms.
UK carpet demand, by raw
material, 2012-2022, (Million Square Meters)
Browse full research report on
Europe
Carpet Market
Further key findings from
the report suggest:
- Europe carpet
demand was 665.7 million square meters in 2014 and is expected to exceed
800 million square meters by 2022.Improvement in residential sector of
Eastern European countries including Russia and Turkey on account of
increasing spending by builders is expected to promote the importance of
flooring including carpets.
- Demand for
woven carpets is expected to grow at a CAGR of 2.5%, in terms of volume,
from 2015 to 2022. These products are expected to maintain a significant
chunk of market on account of providing excellent mechanical strength.
- Non-residential
sector generated demand of over 250.0 million square meters in 2014 and is
expected to witness growth in light of rising importance of carpet as good
insulation material in retail outlets and commercial offices. However,
high price and low durability of soft flooring materials as compared to
ceramic as well as wood laminate material is expected to have a negative
impact.
- Spain is
expected to witness growth at a CAGR of 2.6%, in terms of volume, from
2015 to 2022 on account of increasing housing sector output as a result of
rising number of new housing permits in Greater Madrid.
- European
market is highly fragmented on account of large number of manufacturers
across the region. Regulatory support intended for promoting recycling of
flooring materials in Europe is expected to increase result in shifting
preference of manufacturers.Key industry participants include Agnella SA,
Balta Group, Brintons, Creatuft NV, Associated Weavers International Group
NV, Dekowe GmbH &Co.KG, Fletco and Egetæpper A/S.
For
more information: http://www.grandviewresearch.com