U.S.: Woven Carpet Market 2024

Woven Carpet Market Size in the U.S.

In 2022, after ten years of growth, there was significant decline in the U.S. woven carpet market, when its value decreased by -16.5% to $X. In general, consumption, however, recorded a resilient expansion. As a result, consumption reached the peak level of $X, and then declined notably in the following year.

Woven Carpet Production in the U.S.

In value terms, woven carpet production reached $X in 2022. Overall, the total production indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +8.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.5% against 2020 indices. The pace of growth was the most pronounced in 2014 when the production volume increased by 133% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Woven Carpet Exports

Exports from the U.S.

After five years of growth, overseas shipments of woven carpets and other woven textile coverings decreased by -20% to X square meters in 2022. In general, total exports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +43.2% against 2016 indices. The growth pace was the most rapid in 2021 with an increase of 29% against the previous year. As a result, the exports attained the peak of X square meters, and then plummeted in the following year.

In value terms, woven carpet exports declined to $X in 2022. Over the period under review, total exports indicated a buoyant expansion from 2012 to 2022: its value 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. Based on 2022 figures, exports increased by +64.4% against 2016 indices. The most prominent rate of growth was recorded in 2021 with an increase of 21% against the previous year. As a result, the exports reached the peak of $X, and then fell in the following year.

Exports by Country

Canada (X square meters) was the main destination for woven carpet exports from the United States, accounting for a 77% share of total exports. Moreover, woven carpet exports to Canada exceeded the volume sent to the second major destination, Mexico (X square meters), more than tenfold. The third position in this ranking was taken by the UK (X square meters), with a 2.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Canada amounted to +9.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+1.9% per year) and the UK (-1.5% per year).

In value terms, Canada ($X) remains the key foreign market for woven carpets and other woven textile coverings exports from the United States, comprising 79% of total exports. The second position in the ranking was taken by the UK ($X), with a 3.7% share of total exports. It was followed by Mexico, with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Canada totaled +10.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-1.2% per year) and Mexico (+5.3% per year).

Export Prices by Country

In 2022, the average woven carpet export price amounted to $X per square meter, picking up by 9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per square meter), while the average price for exports to Mexico ($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 (+4.2%), while the prices for the other major destinations experienced more modest paces of growth.

Woven Carpet Imports

Imports into the U.S.

In 2022, after seven years of growth, there was significant decline in purchases abroad of woven carpets and other woven textile coverings, when their volume decreased by -23.3% to X square meters. Overall, imports, however, recorded strong growth. The pace of growth appeared the most rapid in 2021 with an increase of 34%. As a result, imports attained the peak of X square meters, and then declined remarkably in the following year.

In value terms, woven carpet imports declined to $X in 2022. In general, imports, however, recorded a buoyant expansion. The growth pace was the most rapid in 2021 when imports increased by 37% against the previous year. As a result, imports attained the peak of $X, and then fell in the following year.

Imports by Country

In 2022, Turkey (X square meters) constituted the largest woven carpet supplier to the United States, accounting for a 51% share of total imports. Moreover, woven carpet imports from Turkey exceeded the figures recorded by the second-largest supplier, India (X square meters), twofold. Egypt (X square meters) ranked third in terms of total imports with a 7.7% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey totaled +20.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+10.4% per year) and Egypt (+6.5% per year).

In value terms, the largest woven carpet suppliers to the United States were Turkey ($X), India ($X) and Egypt ($X), together comprising 83% of total imports.

In terms of the main suppliers, Turkey, with a CAGR of +18.3%, recorded the highest growth rate of the value of imports, 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, with an increase of 11% against the previous year. Over the period under review, the import price, however, recorded a noticeable downturn. The pace of growth appeared the most rapid in 2014 when the average import price increased by 19% against the previous year. As a result, import price attained the peak level of $X per square meter. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per square meter), while the price for Pakistan ($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 Pakistan (+2.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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