Mexico: Woven Carpet Market 2024

Woven Carpet Market Size in Mexico

The Mexican woven carpet market soared to $X in 2022, surging by 25% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +62.0% against 2020 indices. Woven carpet consumption peaked in 2022 and is expected to retain growth in years to come.

Woven Carpet Exports

Exports from Mexico

In 2022, approx. X square meters of woven carpets and other woven textile coverings were exported from Mexico; falling by -10% on the previous year. In general, exports faced a precipitous decline. The most prominent rate of growth was recorded in 2020 when exports increased by 218%. Over the period under review, the exports attained the maximum at X square meters in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, woven carpet exports surged to $X in 2022. Overall, exports faced a abrupt decrease. The most prominent rate of growth was recorded in 2020 when exports increased by 679% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X square meters) was the main destination for woven carpet exports from Mexico, with a 87% share of total exports. Moreover, woven carpet exports to the United States exceeded the volume sent to the second major destination, Peru (X square meters), more than tenfold. Japan (X square meters) ranked third in terms of total exports with a 2.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled -12.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (-20.2% per year) and Japan (-6.4% per year).

In value terms, the United States ($X) remains the key foreign market for woven carpets and other woven textile coverings exports from Mexico, comprising 92% of total exports. The second position in the ranking was held by Peru ($X), with a 1.1% share of total exports. It was followed by Japan, with a 1% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at -5.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (-17.4% per year) and Japan (-13.4% per year).

Export Prices by Country

In 2022, the average woven carpet export price amounted to $X per square meter, increasing by 93% against the previous year. Over the period under review, the export price saw a prominent increase. The pace of growth appeared the most rapid in 2016 an increase of 189% against the previous year. As a result, the export price reached the peak level of $X per square meter. From 2017 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Dominican Republic ($X per square meter), while the average price for exports to Costa Rica ($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 the Dominican Republic (+26.8%), while the prices for the other major destinations experienced more modest paces of growth.

Woven Carpet Imports

Imports into Mexico

In 2022, approx. X square meters of woven carpets and other woven textile coverings were imported into Mexico; surging by 10% on the year before. Overall, total imports indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +2.3% 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 +20.8% against 2020 indices. The pace of growth was the most pronounced in 2018 when imports increased by 37% against the previous year. Imports peaked at X square meters in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, woven carpet imports surged to $X in 2022. Over the period under review, total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.1% 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 +69.9% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of 44% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

Turkey (X square meters), China (X square meters) and India (X square meters) were the main suppliers of woven carpet imports to Mexico, with a combined 88% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +23.4%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest woven carpet suppliers to Mexico were Turkey ($X), India ($X) and China ($X), with a combined 89% share of total imports.

Turkey, with a CAGR of +24.7%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average woven carpet import price amounted to $X per square meter, jumping by 15% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.7%. The most prominent rate of growth was recorded in 2013 when the average import price increased by 28% against the previous year. Over the period under review, average 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.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per square meter), while the price for China ($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 (+10.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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