Asia-Pacific: Knotted Carpet Market 2024

Knotted Carpet Market Size in Asia-Pacific

The Asia-Pacific knotted carpet market rose to $X in 2022, increasing by 4.3% against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Knotted Carpet Production in Asia-Pacific

In value terms, knotted carpet production amounted to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the production volume increased by 26%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Knotted Carpet Exports

Exports in Asia-Pacific

In 2022, overseas shipments of knotted carpets and other knotted textile floor coverings increased by 24% to X square meters, rising for the second year in a row after five years of decline. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 50%. Over the period under review, the exports reached the maximum at X square meters in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, knotted carpet exports rose markedly to $X in 2022. In general, exports, however, showed a noticeable setback. The pace of growth appeared the most rapid in 2021 when exports increased by 21% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China was the key exporter of knotted carpets and other knotted textile floor coverings in Asia-Pacific, with the volume of exports amounting to X square meters, which was near 52% of total exports in 2022. India (X square meters) held a 27% share (based on physical terms) of total exports, which put it in second place, followed by Pakistan (13%). The following exporters - Afghanistan (X square meters) and Nepal (X square meters) - together made up 5% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Afghanistan (with a CAGR of +7.8%), while the other leaders experienced a decline in the exports figures.

In value terms, India ($X) remains the largest knotted carpet supplier in Asia-Pacific, comprising 55% of total exports. The second position in the ranking was held by China ($X), with a 16% share of total exports. It was followed by Pakistan, with a 14% share.

From 2012 to 2022, the average annual growth rate of value in India totaled -1.6%. In the other countries, the average annual rates were as follows: China (-3.6% per year) and Pakistan (-3.9% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per square meter, with a decrease of -12% against the previous year. Over the period under review, the export price recorded a mild slump. The growth pace was the most rapid in 2019 an increase of 11% against the previous year. As a result, the export price attained the peak level of $X per square meter. From 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Nepal ($X per square meter), while China ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nepal (+5.3%), while the other leaders experienced a decline in the export price figures.

Knotted Carpet Imports

Imports in Asia-Pacific

In 2022, imports of knotted carpets and other knotted textile floor coverings in Asia-Pacific fell slightly to X square meters, leveling off at the previous year's figure. Over the period under review, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 36%. The volume of import peaked at X square meters in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, knotted carpet imports rose sharply to $X in 2022. Overall, imports showed a pronounced descent. The pace of growth was the most pronounced in 2021 with an increase of 38% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Malaysia (X square meters), distantly followed by Pakistan (X square meters), India (X square meters), Australia (X square meters), Singapore (X square meters), Nepal (X square meters), Japan (X square meters) and Taiwan (Chinese) (X square meters) were the major importers of knotted carpets and other knotted textile floor coverings, together making up 79% of total imports. The following importers - the Philippines (X square meters), Myanmar (X square meters), Vietnam (X square meters), Thailand (X square meters) and Hong Kong SAR (X square meters) - together made up 14% of total imports.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +20.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest knotted carpet importing markets in Asia-Pacific were Japan ($X), Australia ($X) and India ($X), together accounting for 61% of total imports.

In terms of the main importing countries, India, with a CAGR of +21.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per square meter, picking up by 8.9% against the previous year. Over the period under review, the import price, however, saw a mild contraction. The pace of growth was the most pronounced in 2013 when the import price increased by 10%. As a result, import price reached the peak level of $X per square meter. From 2014 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per square meter), while Nepal ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+9.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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