Mexico: Tufted Carpet Market 2024

Tufted Carpet Market Size in Mexico

After four years of growth, the Mexican tufted carpet market decreased by -0.2% to $X in 2022. The market value increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Tufted carpet consumption peaked at $X in 2021, and then dropped in the following year.

Tufted Carpet Production in Mexico

In value terms, tufted carpet production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.1% over the period 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 2014 when the production volume increased by 23%. Tufted carpet production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Tufted Carpet Exports

Exports from Mexico

In 2022, shipments abroad of tufted carpets and other tufted textile floor coverings increased by 3% to X square meters for the first time since 2019, thus ending a two-year declining trend. Overall, total exports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -26.9% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 71% against the previous year. As a result, the exports attained the peak of X square meters. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, tufted carpet exports surged to $X in 2022. In general, exports saw a prominent expansion. The most prominent rate of growth was recorded in 2019 with an increase of 50%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X square meters) was the main destination for tufted carpet exports from Mexico, with a 99.9% share of total exports. It was followed by Canada (X square meters), with less than 0.1% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +19.0%.

In value terms, the United States ($X) remains the key foreign market for tufted carpets and other tufted textile floor coverings exports from Mexico, comprising 99.9% of total exports. The second position in the ranking was held by Canada ($X), with less than 0.1% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +21.7%.

Export Prices by Country

The average tufted carpet export price stood at $X per square meter in 2022, growing by 12% against the previous year. Overall, export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tufted carpet export price increased by +14.0% against 2019 indices. The most prominent rate of growth was recorded in 2016 an increase of 45%. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per square meter), while the average price for exports to Canada stood at $X per square meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+3.2%).

Tufted Carpet Imports

Imports into Mexico

In 2022, tufted carpet imports into Mexico shrank modestly to X square meters, falling by -4.5% on the year before. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 37%. Over the period under review, imports attained the maximum at X square meters in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, tufted carpet imports declined slightly to $X in 2022. Over the period under review, imports recorded a perceptible slump. The growth pace was the most rapid in 2018 when imports increased by 19% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, the United States (X square meters) constituted the largest tufted carpet supplier to Mexico, with a 58% share of total imports. Moreover, tufted carpet imports from the United States exceeded the figures recorded by the second-largest supplier, China (X square meters), threefold. The Netherlands (X square meters) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to -3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+9.0% per year) and the Netherlands (+19.6% per year).

In value terms, the United States ($X) constituted the largest supplier of tufted carpets and other tufted textile floor coverings to Mexico, comprising 55% of total imports. The second position in the ranking was taken by China ($X), with a 21% share of total imports. It was followed by the Netherlands, with a 9.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled -5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+9.6% per year) and the Netherlands (+20.7% per year).

Import Prices by Country

In 2022, the average tufted carpet import price amounted to $X per square meter, remaining stable against the previous year. Over the period under review, the import price continues to indicate a mild setback. The growth pace was the most rapid in 2015 an increase of 23% against the previous year. Over the period under review, average import prices reached the peak figure at $X per square meter in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per square meter), while the price for Germany ($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 (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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