MENA: Tufted Carpet Market 2024

Tufted Carpet Market Size in MENA

The MENA's tufted carpet market contracted markedly to $X in 2022, reducing by -39.2% against the previous year. Over the period under review, consumption, however, posted strong growth. As a result, consumption attained the peak level of $X, and then dropped significantly in the following year.

Tufted Carpet Production in MENA

In value terms, tufted carpet production contracted significantly to $X in 2022 estimated in export price. Overall, production, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of 65% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Tufted Carpet Exports

Exports in MENA

In 2022, overseas shipments of tufted carpets and other tufted textile floor coverings decreased by -4.8% to X square meters for the first time since 2016, thus ending a five-year rising trend. In general, exports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2019 when exports increased by 39%. The volume of export peaked at X square meters in 2021, and then dropped slightly in the following year.

In value terms, tufted carpet exports shrank modestly to $X in 2022. Over the period under review, exports, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2021 when exports increased by 25% against the previous year. As a result, the exports reached the peak of $X, and then fell modestly in the following year.

Exports by Country

Turkey represented the major exporter of tufted carpets and other tufted textile floor coverings in MENA, with the volume of exports resulting at X square meters, which was approx. 64% of total exports in 2022. It was distantly followed by Egypt (X square meters) and the United Arab Emirates (X square meters), together creating a 32% share of total exports. Saudi Arabia (X square meters) took a relatively small share of total exports.

Turkey was also the fastest-growing in terms of the tufted carpets and other tufted textile floor coverings exports, with a CAGR of +15.5% from 2012 to 2022. At the same time, the United Arab Emirates (+9.0%) and Egypt (+8.2%) displayed positive paces of growth. Saudi Arabia experienced a relatively flat trend pattern. From 2012 to 2022, the share of Turkey increased by +21 percentage points.

In value terms, the largest tufted carpet supplying countries in MENA were Turkey ($X), Egypt ($X) and the United Arab Emirates ($X), with a combined 94% share of total exports.

Among the main exporting countries, Egypt, with a CAGR of +14.2%, recorded the highest growth rate of the value of exports, 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 MENA amounted to $X per square meter, surging by 1.5% against the previous year. In general, the export price, however, showed a noticeable decrease. The most prominent rate of growth was recorded in 2021 when the export price increased by 11% against the previous year. The level of export peaked at $X per square meter in 2014; however, from 2015 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 Saudi Arabia ($X per square meter), while Turkey ($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 Egypt (+5.5%), while the other leaders experienced mixed trends in the export price figures.

Tufted Carpet Imports

Imports in MENA

In 2022, approx. X square meters of tufted carpets and other tufted textile floor coverings were imported in MENA; which is down by -11.8% compared with 2021. Overall, imports, however, enjoyed a strong increase. The growth pace was the most rapid in 2019 when imports increased by 23%. Over the period under review, imports attained the peak figure at X square meters in 2021, and then fell in the following year.

In value terms, tufted carpet imports dropped to $X in 2022. Total imports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +36.8% against 2016 indices. The growth pace was the most rapid in 2014 with an increase of 27%. The level of import peaked at $X in 2021, and then declined in the following year.

Imports by Country

In 2022, Iraq (X square meters) represented the key importer of tufted carpets and other tufted textile floor coverings, mixing up 30% of total imports. It was distantly followed by the United Arab Emirates (X square meters), Libya (X square meters), Israel (X square meters), Kuwait (X square meters) and Qatar (X square meters), together constituting a 45% share of total imports. Turkey (X square meters), Morocco (X square meters), Algeria (X square meters), Egypt (X square meters), Palestine (X square meters), Bahrain (X square meters) and Oman (X square meters) followed a long way behind the leaders.

Imports into Iraq increased at an average annual rate of +18.5% from 2012 to 2022. At the same time, Algeria (+20.7%), Kuwait (+14.9%), Bahrain (+12.2%), Libya (+11.4%), Israel (+10.8%), Palestine (+10.8%), Oman (+8.7%), the United Arab Emirates (+6.6%), Morocco (+6.0%) and Qatar (+2.5%) displayed positive paces of growth. Moreover, Algeria emerged as the fastest-growing importer imported in MENA, with a CAGR of +20.7% from 2012-2022. By contrast, Turkey (-4.3%) and Egypt (-10.1%) illustrated a downward trend over the same period. While the share of Iraq (+19 p.p.), Kuwait (+3.5 p.p.), Libya (+2.9 p.p.), Israel (+2.5 p.p.) and Algeria (+2.3 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Qatar (-3.6 p.p.), Turkey (-9.3 p.p.) and Egypt (-14.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest tufted carpet importing markets in MENA were the United Arab Emirates ($X), Iraq ($X) and Israel ($X), with a combined 36% share of total imports. Kuwait, Turkey, Libya, Morocco, Qatar, Egypt, Algeria, Palestine, Oman and Bahrain lagged somewhat behind, together accounting for a further 36%.

In terms of the main importing countries, Algeria, with a CAGR of +15.4%, recorded 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

The import price in MENA stood at $X per square meter in 2022, surging by 2.6% against the previous year. Overall, the import price, however, saw a pronounced contraction. The most prominent rate of growth was recorded in 2013 an increase of 7.4%. Over the period under review, import prices hit record highs at $X per square meter in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per square meter), while Iraq ($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 (+0.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform