Middle East Carpet Industry Set to Bloom, Projecting US$ 21,521.3 Million and 7.8% CAGR by 2033
Middle East Carpet Industry Set to Bloom, Projecting US$ 21,521.3 Million and 7.8% CAGR by 2033
In 2022, the Middle East flooring and carpet market was estimated to be worth US$ 9,432.1 million. The sector is projected to be valued at US$ 10,169.2 million by the end of 2023. Sales of carpet and flooring products in the Middle East are anticipated to increase at a 7.8% CAGR during the projection period, reaching US$ 21,521.3 million by 2033.

The research goes deeply into the murkiest crevices of the Middle Eastern markets and presents some really important and futuristic statistics that are closely related to the genetic behaviour of the market. According to the analysis, the Middle Eastern flooring and carpet industry would expand significantly over the course of the projected year.

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Weavers originated in this part of the world. There are some of the most well-known magicians in some parts of the world. The flooring and carpet market in the Middle East is booming and offers a wide range of goods. The area of the world is slowly becoming one of the main tourist destinations, and the real estate market in this area is booming.

The report delves deep into the darkest corners of the markets spread across the Middle East and tables some very crucial and futuristic data which are close-knitted with the genetic behaviour of the market. The report says that the Middle East flooring and carpet market will grow manifold within the forecast period. Within the assessment period the market will shine and rise it will record more than 5% CAGR.

This region of the globe is a cradle of weavers. Some of the best-known hands who can weave magic are available in part of the world. A plethora of products is available in this expanding middle-east flooring and carpet market. The portion of the world is steadily rising as one of the major tourism hubs also the real estate segment of this region is on fire.

The economy is thriving and basking with a wave new investment. This entire economic resurgence is pushing ahead the width of the middle-east flooring and carpet market. The market exports some of the best quality, artificial grass, carpets, rugs, variety of laminated floorings and carpet titles to different parts of the world. The demand of these of niche products are maximum in different parts of the globe and as per this market analysis, the demand for these luxury products will surge in the coming few years. As per the report, the middle-east flooring and carpet market will cater commercial as well as the domestic customers.

The market is extremely challenging as most of the customers of this segment do have an eye for details and they are eager to shell out some extra bucks to get the best possible products from the market. To cope up with this new breed of customers the manufacturers are polishing their skills and tabling custom made products to stay afloat in this competitive market. Lucrative discounts, advanced 3D technology is introduced in the market to enhance the customer outreach.

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The major stakeholders of the market are steadily revamping their manufacturing policies to meet the elevated environment-friendly standards issued by the government.  As per the application type, the market is fragmented into commercial, residential offices, hospital and healthcare, industrial application, automotive and retail. Several raw materials are used in this market and they are Polypropylene, polyester, other materials and nylon. The rise of the new luxury conscious customers, expanding the economy of the region and expanding demand for these products in educational institutes, hospitals and hospitality will drive the market forward in within the assessment period predicts the report.

Segment Analysis

  • The nylon section will dominate more than 40% of the market share until the end of 2016 apart from this the other material segment of the market will also contribute significantly to the growth of the Middle East flooring and carpet market
  • The residential segment will push the market ahead in 2016. The automotive application and hospitality segment will also show positive results in the assessment period

Regional Analysis

Qatar and Kuwait will be significant contributors to the growth of the Middle East flooring and carpet market. As Qatar will be the hosting mega football event in the year 2022, thus it will affect the market periphery of the flooring and carpet. Apart from this other country of this region such as UAE, Egypt, Iran, Kuwait, Bahrain, Oman and Turkey will also showcase good development in the market.

Vendor Insights

Some of the prime players who are operating in this segment are Cerner Corporation, Care Fusion Corporation, Kirby Lester LLC, Swisslog Holdings AG etc.

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