MENA: Knotted Carpet Market 2024

Knotted Carpet Market Size in MENA

The MENA's knotted carpet market dropped to $X in 2022, shrinking by -6.2% against the previous year. Over the period under review, consumption, however, posted a resilient increase. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Knotted Carpet Production in MENA

In value terms, knotted carpet production contracted to $X in 2022 estimated in export price. In general, production, however, recorded a strong increase. The pace of growth appeared the most rapid in 2018 when the production volume increased by 60% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Knotted Carpet Exports

Exports in MENA

In 2022, approx. X square meters of knotted carpets and other knotted textile floor coverings were exported in MENA; which is down by -37.2% against 2021. Overall, exports showed a abrupt downturn. The pace of growth appeared the most rapid in 2017 with an increase of 22% against the previous year. Over the period under review, the exports hit record highs at X square meters in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, knotted carpet exports contracted markedly to $X in 2022. Over the period under review, exports recorded a deep reduction. The pace of growth was the most pronounced in 2021 with an increase of 28% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Egypt dominates exports structure, resulting at X square meters, which was approx. 84% of total exports in 2022. Turkey (X square meters) ranks second in terms of the total exports with a 7.5% share, followed by Iran (6.8%).

From 2012 to 2022, average annual rates of growth with regard to knotted carpet exports from Egypt stood at -12.1%. Turkey (-1.2%) and Iran (-6.1%) illustrated a downward trend over the same period. While the share of Turkey (+4.9 p.p.) and Iran (+2.9 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Egypt (-9.3 p.p.) displayed negative dynamics.

In value terms, Egypt ($X), Iran ($X) and Turkey ($X) constituted the countries with the highest levels of exports in 2022, together comprising 92% of total exports.

Iran, with a CAGR of -6.2%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in MENA stood at $X per square meter in 2022, increasing by 15% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The pace of growth was the most pronounced in 2019 when the export price increased by 30%. The level of export peaked at $X per square meter in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

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 Iran ($X per square meter), while Egypt ($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 Iran (-0.0%), while the other leaders experienced a decline in the export price figures.

Knotted Carpet Imports

Imports in MENA

In 2022, imports of knotted carpets and other knotted textile floor coverings in MENA reduced markedly to X square meters, which is down by -26.2% compared with the previous year. In general, imports recorded a deep downturn. The most prominent rate of growth was recorded in 2018 with an increase of 18%. The volume of import peaked at X square meters in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, knotted carpet imports rose sharply to $X in 2022. Over the period under review, imports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2013 when imports increased by 15%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, the United Arab Emirates (X square meters), distantly followed by Turkey (X square meters), Libya (X square meters), Qatar (X square meters), Egypt (X square meters), Jordan (X square meters) and Algeria (X square meters) were the major importers of knotted carpets and other knotted textile floor coverings, together generating 79% of total imports. Iraq (X square meters), Palestine (X square meters), Israel (X square meters), Kuwait (X square meters), Bahrain (X square meters) and Iran (X square meters) took a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Jordan (with a CAGR of +8.0%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported knotted carpets and other knotted textile floor coverings in MENA, comprising 48% of total imports. The second position in the ranking was held by Turkey ($X), with a 19% share of total imports. It was followed by Qatar, with an 8% share.

In the United Arab Emirates, knotted carpet imports contracted by an average annual rate of -3.2% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Turkey (-20.0% per year) and Qatar (+1.9% per year).

Import Prices by Country

The import price in MENA stood at $X per square meter in 2022, surging by 46% against the previous year. Over the period under review, the import price continues to indicate strong growth. The pace of growth was the most pronounced in 2021 when the import price increased by 65% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Iran ($X per square meter), while Algeria ($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 Libya (+8.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform