China: Woven Carpet Market 2024

Woven Carpet Market Size in China

In 2022, the Chinese woven carpet market decreased by -10.8% to $X, falling for the second consecutive year after six years of growth. In general, the total consumption indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -22.0% against 2020 indices. Woven carpet consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Woven Carpet Production in China

In value terms, woven carpet production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.8% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 21%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Woven Carpet Exports

Exports from China

In 2022, shipments abroad of woven carpets and other woven textile coverings increased by 44% to X square meters, rising for the second year in a row after three years of decline. Over the period under review, exports saw a relatively flat trend pattern. Over the period under review, the exports hit record highs at X square meters in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, woven carpet exports expanded to $X in 2022. The total export value increased at an average annual rate of +2.6% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 25% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

The United States (X square meters), Japan (X square meters) and Malaysia (X square meters) were the main destinations of woven carpet exports from China, together comprising 45% of total exports. Saudi Arabia, Germany, Australia, Vietnam, Chile, Iraq, South Korea, the Netherlands, the UK and South Africa lagged somewhat behind, together comprising a further 29%.

From 2012 to 2022, the biggest increases were recorded for Iraq (with a CAGR of +32.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for woven carpets and other woven textile coverings exports from China, comprising 26% of total exports. The second position in the ranking was held by Japan ($X), with an 11% share of total exports. It was followed by Australia, with a 4.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-4.1% per year) and Australia (+1.5% per year).

Export Prices by Country

The average woven carpet export price stood at $X per square meter in 2022, reducing by -29.1% against the previous year. Over the period under review, export price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, woven carpet export price decreased by -31.4% against 2019 indices. The growth pace was the most rapid in 2018 when the average export price increased by 46%. The export price peaked at $X per square meter in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per square meter), while the average price for exports to South Africa ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Iraq (+13.2%), while the prices for the other major destinations experienced more modest paces of growth.

Woven Carpet Imports

Imports into China

In 2022, the amount of woven carpets and other woven textile coverings imported into China contracted dramatically to X square meters, declining by -15.1% on the previous year. Overall, imports showed a abrupt downturn. The most prominent rate of growth was recorded in 2014 when imports increased by 26% against the previous year. As a result, imports reached the peak of X square meters. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, woven carpet imports fell to $X in 2022. In general, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 when imports increased by 28%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

India (X square meters), Turkey (X square meters) and Egypt (X square meters) were the main suppliers of woven carpet imports to China, together accounting for 80% of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +13.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest woven carpet suppliers to China were India ($X), Turkey ($X) and Egypt ($X), together accounting for 70% of total imports.

Among the main suppliers, India, with a CAGR of +8.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average woven carpet import price stood at $X per square meter in 2022, growing by 13% against the previous year. Overall, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, woven carpet import price increased by +18.9% against 2020 indices. The pace of growth was the most pronounced in 2015 an increase of 25% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per square meter), while the price for Iran ($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 Turkey (+11.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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