Knotted Carpet Market

The article provides a comprehensive analysis of the global market for knotted carpets and other knotted textile floor coverings. Forecasts indicate an upward consumption trend, with an anticipated CAGR of +3.0% by 2030. Key insights include Turkey as the largest consumer and producer, with significant growth rates. Imports and exports are also examined, along with pricing trends showing increases in average export prices. Overall, the article offers valuable information on market trends, key countries, and growth opportunities in the knotted carpet industry.

Market Forecast

Driven by increasing demand for knotted carpets and other knotted textile floor coverings worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +3.0% for the period from 2022 to 2030, which is projected to bring the market volume to 521M square meters by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.7% for the period from 2022 to 2030, which is projected to bring the market value to $36.6B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Knotted Carpets And Other Knotted Textile Floor Coverings

After two years of growth, consumption of knotted carpets and other knotted textile floor coverings decreased by -2.1% to 410M square meters in 2022. The total consumption volume increased at an average annual rate of +2.1% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. Over the period under review, global consumption attained the maximum volume at 419M square meters in 2021, and then shrank in the following year.

The global knotted carpet market size shrank modestly to $27.3B in 2022, falling by -2.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. Global consumption peaked at $29.8B in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Consumption By Country

The country with the largest volume of knotted carpet consumption was Turkey (160M square meters), accounting for 39% of total volume. Moreover, knotted carpet consumption in Turkey exceeded the figures recorded by the second-largest consumer, China (42M square meters), fourfold. The third position in this ranking was held by the United States (32M square meters), with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in Turkey totaled +8.0%. In the other countries, the average annual rates were as follows: China (+0.8% per year) and the United States (-2.4% per year).

In value terms, the United States ($10.9B), Turkey ($9.5B) and Germany ($1.1B) appeared to be the countries with the highest levels of market value in 2022, with a combined 79% share of the global market.

Among the main consuming countries, Turkey, with a CAGR of +8.7%, recorded the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of knotted carpet per capita consumption was registered in Turkey (1,868 square meters per 1000 persons), followed by South Korea (316 square meters per 1000 persons), Brazil (125 square meters per 1000 persons) and Germany (103 square meters per 1000 persons), while the world average per capita consumption of knotted carpet was estimated at 52 square meters per 1000 persons.

In Turkey, knotted carpet per capita consumption increased at an average annual rate of +6.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (+1.8% per year) and Brazil (+7.4% per year).

Production

World Production of Knotted Carpets And Other Knotted Textile Floor Coverings

After two years of growth, production of knotted carpets and other knotted textile floor coverings decreased by -4.1% to 424M square meters in 2022. Over the period under review, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by 12%. As a result, production attained the peak volume of 447M square meters. From 2019 to 2022, global production growth failed to regain momentum.

In value terms, knotted carpet production dropped to $25.5B in 2022 estimated in export price. In general, production, however, showed a pronounced expansion. The most prominent rate of growth was recorded in 2019 when the production volume increased by 29% against the previous year. As a result, production attained the peak level of $44.9B. From 2020 to 2022, global production growth remained at a lower figure.

Production By Country

Turkey (161M square meters) constituted the country with the largest volume of knotted carpet production, accounting for 38% of total volume. Moreover, knotted carpet production in Turkey exceeded the figures recorded by the second-largest producer, China (51M square meters), threefold. Egypt (27M square meters) ranked third in terms of total production with a 6.3% share.

In Turkey, knotted carpet production increased at an average annual rate of +8.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (+0.8% per year) and Egypt (-8.9% per year).

Imports

World Imports of Knotted Carpets And Other Knotted Textile Floor Coverings

Global knotted carpet imports declined modestly to 30M square meters in 2022, which is down by -2.7% against 2021 figures. In general, imports saw a slight shrinkage. The growth pace was the most rapid in 2021 with an increase of 11%. Global imports peaked at 35M square meters in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, knotted carpet imports rose remarkably to $955M in 2022. Overall, imports showed a perceptible descent. The most prominent rate of growth was recorded in 2021 when imports increased by 20%. Over the period under review, global imports attained the peak figure at $1.2B in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports By Country

In 2022, the United States (7.5M square meters), distantly followed by the UK (4.8M square meters), Canada (1.9M square meters) and Brazil (1.5M square meters) were the key importers of knotted carpets and other knotted textile floor coverings, together constituting 52% of total imports. Malaysia (846K square meters), Pakistan (726K square meters), Germany (680K square meters), Indonesia (567K square meters), the Netherlands (554K square meters), Australia (515K square meters), Italy (515K square meters) and Singapore (453K square meters) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +22.8%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($415M) constitutes the largest market for imported knotted carpets and other knotted textile floor coverings worldwide, comprising 43% of global imports. The second position in the ranking was held by Germany ($67M), with a 7% share of global imports. It was followed by the UK, with a 6.7% share.

From 2012 to 2022, the average annual growth rate of value in the United States stood at +2.8%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (-7.5% per year) and the UK (+1.6% per year).

Imports By Type

Carpets and other textile floor coverings; knotted, of textile materials (other than wool or fine animal hair), whether or not made up represented the key type of knotted carpets and other knotted textile floor coverings in the world, with the volume of imports recording 19M square meters, which was approx. 64% of total imports in 2022. It was distantly followed by carpets and other textile floor coverings; knotted, of wool or fine animal hair, whether or not made up (11M square meters), mixing up a 36% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key imported products, was attained by carpets and other textile floor coverings; knotted, of textile materials (other than wool or fine animal hair), whether or not made up (with a CAGR of -0.9%).

In value terms, carpets and other textile floor coverings; knotted, of wool or fine animal hair, whether or not made up ($663M) constitutes the largest type of knotted carpets and other knotted textile floor coverings imported worldwide, comprising 69% of global imports. The second position in the ranking was taken by carpets and other textile floor coverings; knotted, of textile materials (other than wool or fine animal hair), whether or not made up ($292M), with a 31% share of global imports.

From 2012 to 2022, the average annual rate of growth in terms of the value of carpets and other textile floor coverings; knotted, of wool or fine animal hair, whether or not made up imports amounted to -2.6%.

Import Prices By Type

In 2022, the average knotted carpet import price amounted to $32 per square meter, increasing by 13% against the previous year. Over the period under review, the import price, however, showed a mild shrinkage. Global import price peaked at $39 per square meter in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Prices varied noticeably by the product type; the product with the highest price was carpets and other textile floor coverings; knotted, of wool or fine animal hair, whether or not made up ($61 per square meter), while the price for carpets and other textile floor coverings; knotted, of textile materials (other than wool or fine animal hair), whether or not made up totaled $15 per square meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by carpets and other textile floor coverings; knotted, of textile materials (other than wool or fine animal hair), whether or not made up (-0.5%).

Import Prices By Country

In 2022, the average knotted carpet import price amounted to $32 per square meter, with an increase of 13% against the previous year. Over the period under review, the import price, however, saw a slight shrinkage. Over the period under review, average import prices hit record highs at $39 per square meter in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Germany ($98 per square meter), while Brazil ($2.5 per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+4.0%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Knotted Carpets And Other Knotted Textile Floor Coverings

In 2022, approx. 44M square meters of knotted carpets and other knotted textile floor coverings were exported worldwide; declining by -18.6% against the previous year's figure. Over the period under review, exports showed a deep contraction. The growth pace was the most rapid in 2021 when exports increased by 29% against the previous year. The global exports peaked at 90M square meters in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, knotted carpet exports fell modestly to $1B in 2022. In general, exports saw a pronounced slump. The growth pace was the most rapid in 2021 with an increase of 20% against the previous year. Over the period under review, the global exports hit record highs at $1.7B in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports By Country

Egypt represented the major exporting country with an export of about 18M square meters, which amounted to 41% of total exports. China (8.9M square meters) ranks second in terms of the total exports with a 20% share, followed by India (8.9%) and Pakistan (4.7%). Malaysia (1.6M square meters), Turkey (1.6M square meters), Iran (1.4M square meters), Jordan (1M square meters), the United States (0.8M square meters) and the United Arab Emirates (0.7M square meters) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to knotted carpet exports from Egypt stood at -12.2%. At the same time, Jordan (+298.0%), Malaysia (+39.1%) and the United Arab Emirates (+8.3%) displayed positive paces of growth. Moreover, Jordan emerged as the fastest-growing exporter exported in the world, with a CAGR of +298.0% from 2012-2022. China and India experienced a relatively flat trend pattern. By contrast, Turkey (-1.2%), Pakistan (-1.3%), the United States (-2.9%) and Iran (-6.5%) illustrated a downward trend over the same period. While the share of China (+11 p.p.), India (+4.5 p.p.), Malaysia (+3.6 p.p.), Jordan (+2.3 p.p.), Pakistan (+2.1 p.p.) and Turkey (+1.6 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Egypt (-32 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($311M) remains the largest knotted carpet supplier worldwide, comprising 30% of global exports. The second position in the ranking was taken by China ($93M), with a 9% share of global exports. It was followed by Egypt, with an 8.6% share.

In India, knotted carpet exports declined by an average annual rate of -1.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (-3.6% per year) and Egypt (-13.3% per year).

Exports By Type

Carpets and other textile floor coverings; knotted, of textile materials (other than wool or fine animal hair), whether or not made up represented the major type of knotted carpets and other knotted textile floor coverings in the world, with the volume of exports accounting for 33M square meters, which was near 75% of total exports in 2022. It was distantly followed by carpets and other textile floor coverings; knotted, of wool or fine animal hair, whether or not made up (11M square meters), generating a 25% share of total exports.

Exports of carpets and other textile floor coverings; knotted, of textile materials (other than wool or fine animal hair), whether or not made up decreased at an average annual rate of -8.2% from 2012 to 2022. Carpets and other textile floor coverings; knotted, of wool or fine animal hair, whether or not made up experienced a relatively flat trend pattern. From 2012 to 2022, the share of carpets and other textile floor coverings; knotted, of wool or fine animal hair, whether or not made up increased by +12 percentage points.

In value terms, the largest types of exported knotted carpets and other knotted textile floor coverings were carpets and other textile floor coverings; knotted, of wool or fine animal hair, whether or not made up ($674M) and carpets and other textile floor coverings; knotted, of textile materials (other than wool or fine animal hair), whether or not made up ($366M).

Carpets and other textile floor coverings; knotted, of wool or fine animal hair, whether or not made up, with a CAGR of -2.2%, recorded the highest rates of growth with regard to the value of exports, among the main exported products over the period under review.

Export Prices By Type

In 2022, the average knotted carpet export price amounted to $23 per square meter, rising by 23% against the previous year. Over the last decade, it increased at an average annual rate of +3.0%. The most prominent rate of growth was recorded in 2019 when the average export price increased by 37%. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by the product type; the product with the highest price was carpets and other textile floor coverings; knotted, of wool or fine animal hair, whether or not made up ($62 per square meter), while the average price for exports of carpets and other textile floor coverings; knotted, of textile materials (other than wool or fine animal hair), whether or not made up stood at $11 per square meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by carpets and other textile floor coverings; knotted, of textile materials (other than wool or fine animal hair), whether or not made up (+1.5%).

Export Prices By Country

The average knotted carpet export price stood at $23 per square meter in 2022, increasing by 23% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.0%. The most prominent rate of growth was recorded in 2019 an increase of 37%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was India ($79 per square meter), while Jordan ($2.1 per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+4.5%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform