U.S.: Knotted Carpet Market 2024

Knotted Carpet Market Size in the U.S.

In 2022, the U.S. knotted carpet market increased by 1.9% to $X, rising for the second year in a row after two years of decline. In general, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Knotted Carpet Production in the U.S.

In value terms, knotted carpet production fell slightly to $X in 2022. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 4.8% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Knotted Carpet Exports

Exports from the U.S.

Knotted carpet exports from the United States was estimated at X square meters in 2022, flattening at 2021 figures. Over the period under review, exports, however, recorded a pronounced slump. The most prominent rate of growth was recorded in 2013 when exports increased by 52% against the previous year. As a result, the exports attained the peak of X square meters. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, knotted carpet exports contracted to $X in 2022. In general, exports, however, saw a slight setback. The pace of growth appeared the most rapid in 2020 with an increase of 60% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Canada (X square meters) was the main destination for knotted carpet exports from the United States, with a 55% share of total exports. Moreover, knotted carpet exports to Canada exceeded the volume sent to the second major destination, the Netherlands (X square meters), tenfold. Turkey (X square meters) ranked third in terms of total exports with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Canada stood at +14.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+14.2% per year) and Turkey (+1.9% per year).

In value terms, Canada ($X) remains the key foreign market for knotted carpets and other knotted textile floor coverings exports from the United States, comprising 55% of total exports. The second position in the ranking was taken by Turkey ($X), with a 9.3% share of total exports. It was followed by the UK, with a 4.4% share.

From 2012 to 2022, the average annual growth rate of value to Canada totaled +5.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (-3.5% per year) and the UK (-4.9% per year).

Export Prices by Country

The average knotted carpet export price stood at $X per square meter in 2022, declining by -6% against the previous year. Over the period under review, the export price, however, recorded mild growth. The most prominent rate of growth was recorded in 2020 when the average export price increased by 53% against the previous year. As a result, the export price reached the peak level of $X per square meter. From 2021 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per square meter), while the average price for exports to Pakistan ($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 Australia (+11.2%), while the prices for the other major destinations experienced more modest paces of growth.

Knotted Carpet Imports

Imports into the U.S.

In 2022, supplies from abroad of knotted carpets and other knotted textile floor coverings increased by 18% to X square meters, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Imports peaked at X square meters in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, knotted carpet imports surged to $X in 2022. The total import value increased at an average annual rate of +2.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, imports reached the peak figure at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, India (X square meters) constituted the largest supplier of knotted carpet to the United States, accounting for a 68% share of total imports. Moreover, knotted carpet imports from India exceeded the figures recorded by the second-largest supplier, Pakistan (X square meters), sixfold. The third position in this ranking was taken by Turkey (X square meters), with a 9.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from India amounted to +4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Pakistan (-2.9% per year) and Turkey (+4.0% per year).

In value terms, India ($X) constituted the largest supplier of knotted carpets and other knotted textile floor coverings to the United States, comprising 60% of total imports. The second position in the ranking was taken by Pakistan ($X), with a 14% share of total imports. It was followed by Nepal, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India amounted to +5.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Pakistan (-1.5% per year) and Nepal (+4.1% per year).

Import Prices by Country

In 2022, the average knotted carpet import price amounted to $X per square meter, growing by 4.4% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average import price increased by 9.8% against the previous year. As a result, import price attained the peak level of $X per square meter. From 2018 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Nepal ($X per square meter), while the price for China ($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 Nepal (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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