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.
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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.
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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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