Scandinavia: Knotted Carpet Market 2024

Knotted Carpet Market Size in Scandinavia

The Scandinavia knotted carpet market shrank markedly to $X in 2022, waning by -15.5% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Knotted Carpet Production in Scandinavia

In value terms, knotted carpet production contracted slightly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a remarkable increase. The pace of growth appeared the most rapid in 2014 with an increase of 131%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Knotted Carpet Exports

Exports in Scandinavia

In 2022, shipments abroad of knotted carpets and other knotted textile floor coverings increased by 1.6% to X square meters, rising for the third consecutive year after two years of decline. In general, exports enjoyed a strong expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 98%. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

In value terms, knotted carpet exports stood at $X in 2022. Overall, exports posted a remarkable increase. The most prominent rate of growth was recorded in 2021 when exports increased by 66% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

Sweden dominates exports structure, amounting to X square meters, which was near 96% of total exports in 2022. The following exporters - Norway (X square meters) and Finland (X square meters) - together made up 4.3% of total exports.

Sweden was also the fastest-growing in terms of the knotted carpets and other knotted textile floor coverings exports, with a CAGR of +12.9% from 2012 to 2022. At the same time, Finland (+8.3%) and Norway (+3.5%) displayed positive paces of growth. From 2012 to 2022, the share of Sweden increased by +4.1 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) remains the largest knotted carpet supplier in Scandinavia, comprising 96% of total exports. The second position in the ranking was held by Finland ($X), with a 2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Sweden stood at +11.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Finland (+14.0% per year) and Norway (+2.8% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per square meter in 2022, rising by 13% against the previous year. Overall, the export price, however, showed a slight curtailment. The most prominent rate of growth was recorded in 2016 an increase of 15%. The level of export peaked at $X per square meter in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Finland ($X per square meter), while Norway ($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 Finland (+5.2%), while the other leaders experienced a decline in the export price figures.

Knotted Carpet Imports

Imports in Scandinavia

In 2022, supplies from abroad of knotted carpets and other knotted textile floor coverings decreased by -25.9% to X square meters for the first time since 2019, thus ending a two-year rising trend. In general, imports recorded a pronounced setback. The most prominent rate of growth was recorded in 2021 when imports increased by 32% against the previous year. Over the period under review, imports attained the peak figure at X square meters in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, knotted carpet imports shrank markedly to $X in 2022. Overall, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 63%. As a result, imports reached the peak of $X, and then fell markedly in the following year.

Imports by Country

Sweden represented the major importer of knotted carpets and other knotted textile floor coverings in Scandinavia, with the volume of imports finishing at X square meters, which was near 71% of total imports in 2022. It was distantly followed by Norway (X square meters) and Finland (X square meters), together constituting a 29% share of total imports.

Imports into Sweden decreased at an average annual rate of -3.0% from 2012 to 2022. At the same time, Finland (+2.5%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +2.5% from 2012-2022. By contrast, Norway (-3.4%) illustrated a downward trend over the same period. While the share of Finland (+3.5 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Norway (-1.6 p.p.) and Sweden (-1.9 p.p.) displayed negative dynamics.

In value terms, Sweden ($X) constitutes the largest market for imported knotted carpets and other knotted textile floor coverings in Scandinavia, comprising 66% of total imports. The second position in the ranking was held by Norway ($X), with a 26% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Sweden was relatively modest. In the other countries, the average annual rates were as follows: Norway (-1.9% per year) and Finland (+1.0% per year).

Import Prices by Country

In 2022, the import price in Scandinavia amounted to $X per square meter, growing by 13% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2021 when the import price increased by 24% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Norway ($X per square meter), while Sweden ($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 Sweden (+3.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform