Asia-Pacific: Woven Carpet Market 2024

Woven Carpet Market Size in Asia-Pacific

The Asia-Pacific woven carpet market declined modestly to $X in 2022, shrinking by -3.5% against the previous year. The market value increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Woven Carpet Production in Asia-Pacific

In value terms, woven carpet production expanded slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.1% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 16%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Woven Carpet Exports

Exports in Asia-Pacific

In 2022, overseas shipments of woven carpets and other woven textile coverings increased by 10% to X square meters, rising for the third year in a row after two years of decline. The total export volume increased at an average annual rate of +2.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by 31% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.

In value terms, woven carpet exports reduced to $X in 2022. The total export value increased at an average annual rate of +4.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when exports increased by 31% against the previous year. As a result, the exports attained the peak of $X, and then fell in the following year.

Exports by Country

China (X square meters) and India (X square meters) dominates exports structure, together creating 86% of total exports. It was distantly followed by Bangladesh (X square meters), generating a 7.7% share of total exports. Indonesia (X square meters) held a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Bangladesh (with a CAGR of +24.5%), while the other leaders experienced more modest paces of growth.

In value terms, India ($X), China ($X) and Bangladesh ($X) were the countries with the highest levels of exports in 2022, together accounting for 94% of total exports.

Bangladesh, with a CAGR of +20.6%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per square meter, waning by -16% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.6%. The most prominent rate of growth was recorded in 2018 an increase of 21%. Over the period under review, the export prices reached the maximum at $X per square meter in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was India ($X per square meter), while Indonesia ($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 India (+4.7%), while the other leaders experienced mixed trends in the export price figures.

Woven Carpet Imports

Imports in Asia-Pacific

Woven carpet imports contracted to X square meters in 2022, almost unchanged from 2021 figures. The total import volume increased at an average annual rate of +2.6% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 15%. As a result, imports attained the peak of X square meters, leveling off in the following year.

In value terms, woven carpet imports stood at $X in 2022. The total import value increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 18%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

Japan (X square meters), Afghanistan (X square meters) and Australia (X square meters) represented roughly 56% of total imports in 2022. Malaysia (X square meters) took a 7.9% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (5.3%) and China (4.7%). Bangladesh (X square meters), India (X square meters), Indonesia (X square meters), Thailand (X square meters), New Zealand (X square meters) and the Philippines (X square meters) held a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Afghanistan (with a CAGR of +19.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Australia ($X) and Afghanistan ($X) were the countries with the highest levels of imports in 2022, with a combined 62% share of total imports.

In terms of the main importing countries, Afghanistan, with a CAGR of +15.6%, 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, almost unchanged from the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by 4.3% against the previous year. The level of import peaked at $X per square meter in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was New Zealand ($X per square meter), while the Philippines ($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 Indonesia (+6.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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