United Kingdom: Knotted Carpet Market 2024

Knotted Carpet Market Size in the UK

For the fifth year in a row, the UK knotted carpet market recorded growth in sales value, which increased by 15% to $X in 2022. Overall, the total consumption indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.1% 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 +72.4% against 2017 indices. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in years to come.

Knotted Carpet Production in the UK

In value terms, knotted carpet production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of 20% against the previous year. Knotted carpet production peaked at $X in 2020; afterwards, it flattened through to 2022.

Knotted Carpet Exports

Exports from the UK

Knotted carpet exports from the UK dropped to X square meters in 2022, which is down by -8.8% on the previous year. Over the period under review, exports, however, enjoyed resilient growth. The pace of growth appeared the most rapid in 2021 when exports increased by 243% against the previous year. The exports peaked at X square meters in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, knotted carpet exports rose remarkably to $X in 2022. In general, exports continue to indicate a noticeable decline. The pace of growth appeared the most rapid in 2021 with an increase of 39% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Netherlands (X square meters) was the main destination for knotted carpet exports from the UK, with a 62% share of total exports. Moreover, knotted carpet exports to the Netherlands exceeded the volume sent to the second major destination, Germany (X square meters), ninefold. The third position in this ranking was taken by France (X square meters), with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands stood at +33.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+6.8% per year) and France (+19.2% per year).

In value terms, the Netherlands ($X) emerged as the key foreign market for knotted carpets and other knotted textile floor coverings exports from the UK, comprising 31% of total exports. The second position in the ranking was held by the United States ($X), with a 12% share of total exports. It was followed by France, with a 5.8% share.

From 2012 to 2022, the average annual growth rate of value to the Netherlands amounted to +38.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+2.5% per year) and France (+9.3% per year).

Export Prices by Country

The average knotted carpet export price stood at $X per square meter in 2022, jumping by 20% against the previous year. Overall, the export price, however, saw a drastic downturn. The pace of growth appeared the most rapid in 2020 an increase of 70% against the previous year. The export price peaked at $X per square meter in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per square meter), while the average price for exports to the Netherlands ($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 Netherlands (+3.7%), while the prices for the other major destinations experienced more modest paces of growth.

Knotted Carpet Imports

Imports into the UK

After four years of growth, purchases abroad of knotted carpets and other knotted textile floor coverings decreased by -2% to X square meters in 2022. Over the period under review, imports, however, showed modest growth. The growth pace was the most rapid in 2019 with an increase of 50%. Imports peaked at X square meters in 2021, and then dropped modestly in the following year.

In value terms, knotted carpet imports soared to $X in 2022. The total import value increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X square meters), Turkey (X square meters) and India (X square meters) were the main suppliers of knotted carpet imports to the UK, together accounting for 92% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +7.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and Turkey ($X) were the largest knotted carpet suppliers to the UK, together comprising 69% of total imports.

In terms of the main suppliers, China, with a CAGR of +9.6%, 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

The average knotted carpet import price stood at $X per square meter in 2022, increasing by 25% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. Over the period under review, average import prices reached the maximum at $X per square meter in 2015; however, from 2016 to 2022, import prices stood at a somewhat 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 Pakistan ($X per square meter), while the price for Turkey ($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 Iran (+5.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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