MENA: Woven Carpet Market 2024

Woven Carpet Market Size in MENA

After three years of growth, the MENA's woven carpet market decreased by -3.5% to $X in 2022. The total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2021, and then dropped in the following year.

Woven Carpet Production in MENA

In value terms, woven carpet production shrank to $X in 2022 estimated in export price. Overall, production, however, posted a strong increase. The growth pace was the most rapid in 2018 with an increase of 107% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Woven Carpet Exports

Exports in MENA

In 2022, after six years of growth, there was significant decline in shipments abroad of woven carpets and other woven textile coverings, when their volume decreased by -14.3% to X square meters. Total exports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by 19% against the previous year. The volume of export peaked at X square meters in 2021, and then reduced in the following year.

In value terms, woven carpet exports dropped to $X in 2022. Total exports indicated a temperate 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. The growth pace was the most rapid in 2021 with an increase of 17% against the previous year. As a result, the exports reached the peak of $X, and then declined in the following year.

Exports by Country

Turkey prevails in exports structure, recording X square meters, which was approx. 88% of total exports in 2022. It was distantly followed by Iran (X square meters), creating a 9.7% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to woven carpet exports from Turkey stood at +5.4%. At the same time, Iran (+6.7%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing exporter exported in MENA, with a CAGR of +6.7% from 2012-2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest woven carpet supplier in MENA, comprising 81% of total exports. The second position in the ranking was held by Iran ($X), with a 15% share of total exports.

In Turkey, woven carpet exports expanded at an average annual rate of +3.1% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in MENA amounted to $X per square meter, standing approx. at the previous year. Over the period under review, the export price recorded a pronounced descent. The most prominent rate of growth was recorded in 2021 an increase of 9.3%. The level of export peaked at $X per square meter in 2013; however, from 2014 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 Turkey stood at $X per square meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (+0.8%).

Woven Carpet Imports

Imports in MENA

In 2022, the amount of woven carpets and other woven textile coverings imported in MENA declined to X square meters, which is down by -14.6% compared with 2021 figures. The total import volume increased at an average annual rate of +2.4% 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 with an increase of 48%. As a result, imports reached the peak of X square meters, and then fell in the following year.

In value terms, woven carpet imports contracted to $X in 2022. In general, imports recorded a mild descent. The most prominent rate of growth was recorded in 2021 when imports increased by 33% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

The United Arab Emirates (X square meters) and Iraq (X square meters) represented roughly 47% of total imports in 2022. Libya (X square meters) held the next position in the ranking, distantly followed by Iran (X square meters), Kuwait (X square meters) and Algeria (X square meters). All these countries together took approx. 33% share of total imports. Yemen (X square meters) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Iran (with a CAGR of +15.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest woven carpet importing markets in MENA were the United Arab Emirates ($X), Iraq ($X) and Libya ($X), together comprising 39% of total imports. Kuwait, Yemen, Iran and Algeria lagged somewhat behind, together comprising a further 13%.

In terms of the main importing countries, Yemen, with a CAGR of +2.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in MENA stood at $X per square meter in 2022, with an increase of 2.8% against the previous year. In general, the import price, however, showed a perceptible shrinkage. The pace of growth was the most pronounced in 2019 when the import price increased by 5.1% against the previous year. Over the period under review, import prices reached the maximum at $X per square meter in 2012; however, from 2013 to 2022, import prices remained at a 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 Kuwait ($X per square meter), while Iran ($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 Yemen (-1.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform