Study #: 3993 | Published: 01/2021 | Pages: 178 | Individual User License: US$ 5,300

US demand for carpets and rugs is forecast to advance 1.1% annually to 11.6 billion square feet valued at $13.2 billion in 2024. Gains will be supported by such factors as:

  • increases in single-family housing starts – carpeting is installed in many newly built homes because of its low cost and consumer familiarity with the material
  • manufacturers’ efforts to offer products that meet specific performance properties, such as carpets that are pet-friendly or are engineered to be soft
  • the large installed base of carpeting, which must be replaced as carpets age and become worn or out-of-date – in most cases, older and worn carpets are replaced by similar products

However, more rapid demand advances will be restrained by:

  • strong competition from hard surface flooring – particularly luxury vinyl tile (LVT) – which is seeing rising use in residences as homeowners look to enhance the appearance and value of their properties, though area rugs will benefit from this trend to an extent as they are used with hard floors
  • a contraction in commercial construction spending due to the COVID-19 pandemic, which will negatively affect demand for carpet tile

Residential Market Remains Strong Despite COVID-19 Pandemic

The COVID-19 pandemic hurt both residential and commercial carpet and rug demand in 2020:

  • After a slight decline at the onset of the pandemic, residential carpet and rug demand recovered through the rest of the year as many homeowners – having plenty of time to consider the deficiencies of their residences – engaged in home improvement projects, such as the installation of carpet or the addition of rugs to change the look of a room.
  • The commercial market did not fare as well, as cash-strapped business owners put off remodeling and replacement projects (such as flooring replacement) and as new commercial construction spending fell because commercial lenders were more leery of investing in large-scale projects.

Broadloom Carpet to Remain Leading Product

Broadloom carpet – which held half of US carpet and rug demand by area in 2019 – will continue to account for the largest share of demand through 2024. Homebuilders and commercial specifiers will opt for the material because of its low cost, while homeowners will select broadloom carpet because of its softness, which many people find to be comforting. Manufacturers will expand product offerings of broadloom carpets with enhanced aesthetics and performance properties to promote sales.

Residential Market to Post Strong Gains

The residential market will account for nearly all demand gains through 2024. Solid growth in single-family housing starts will lead market advances, as homebuilders will continue to specify carpeting because of its modest cost and favorable aesthetics. Carpets and rugs will continue to see use in the remodeling and replacement segment, as homeowners add carpeting to bedrooms, home offices, and family rooms because of its ability to create a feeling of warmth underfoot and because of its sound deadening properties.


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Table of Contents

1. Executive Summary

2. About This Report

Report Details

Study Scope & Product Description

Impact of COVID-19 Pandemic

3. Overview

Historical Market Trends

Demand by Product

Area Demand

Market Value

Demand by Market

Shipments & Foreign Trade

Production

Imports

Exports

Pricing Trends

Competitive Products

Sustainability Trends

Recycling Activity

Recycled Content Use

Green Building Practices (LEED)

Indoor Air Quality Concerns

4. Tufted Carpets & Rugs

Scope & Product Description

Product Trends

Demand by Product

Broadloom

Vehicular Carpet

Carpet Tile

Scatter Rugs, Bath Mats, & Accent Rugs

Synthetic Turf

Demand by Market

Shipments & Foreign Trade

Market Share

5. Woven Carpets & Rugs

Scope & Product Description

Product Trends

Demand by Product

Axminster

Wilton (Jacquard)

Velvet

Demand by Market

Shipments & Foreign Trade

Market Share

6. Needlepunched & Other Carpets & Rugs

Scope & Product Description

Demand by Product

Needlepunched Carpets & Rugs

Other Carpets & Rugs

Demand by Market

Shipments & Foreign Trade

Leading Suppliers

7. Residential Carpets & Rugs

Demand by Product & Application

New Construction

Replacement & Remodeling

Building Types

Demand by Housing Type

Single-Family

Multifamily

Manufactured Housing

8. Commercial Carpets & Rugs

Demand by Product & Market Sector

New Construction

Replacement & Remodeling

Building Types

Demand by Building Type

Office, Trade & Lodging

Institutional

Industrial

Other Commercial Buildings

9. Transportation Equipment & Nonbuilding Carpets & Rugs

Demand by Product & Application

Motor Vehicle Flooring

Other (Recreational Vehicles, Aircraft, Ships, Trains, & Nonbuilding Applications)

10. Suppliers & Market Share

Key Findings & Industry Composition

Market Share

Mergers & Acquisitions

List of Industry Participants

11. Appendix

Scope

Definitions

Abbreviations

Freedonia Methodology

Study-Specific Methodology

Sources

Associations & Agencies

Related Studies & Reports

Macroeconomic Assumptions

Economic Environment

Demographic Trends

Consumer Spending

Consumer Financing

Building Construction

Residential Building Construction

Housing Completions

Residential Improvements & Repairs

Commercial Building Construction

Commercial Building Stock

Commercial Building Improvements & Repairs

Nonbuilding Construction Expenditures

Motor Vehicles

Recreational Boats, Recreational Vehicles, & Civilian Aircraft Shipments


List of Tables

2. About This Report

Table 2-1 | Annual Carpet & Rug Demand by Product, 2019 - 2024 (million square feet)

Table 2-2 | Annual Carpet & Rug Demand by Market, 2019 - 2024 (million square feet)

3. Overview

Table 3-1 | Carpet & Rug Market, 2009 - 2019 (million square feet)

Table 3-2 | Carpet & Rug Demand by Product, 2009 - 2029 (million square feet)

Table 3-3 | Carpet & Rug Demand, 2009 - 2029 (million dollars)

Table 3-4 | Carpet & Rug Demand by Market, 2009 - 2029 (million square feet & million dollars)

Table 3-5 | Carpet & Rug Supply & Demand, 2009 - 2029 (million square feet)

4. Tufted Carpets & Rugs

Table 4-1 | Tufted Carpet & Rug Demand by Product, 2009 - 2029 (million dollars & million square feet)

Table 4-2 | Broadloom Carpet & Rug Demand by Market, 2009 - 2029 (million square feet & million dollars)

Table 4-3 | Vehicular Carpet & Rug Demand, 2009 - 2029 (million square feet & million dollars)

Table 4-4 | Carpet Tile Demand by Market, 2009 - 2029 (million square feet & million dollars)

Table 4-5 | Scatter Rug, Bath Mat, & Accent Rug Demand by Market, 2009 - 2029 (million square feet & million dollars)

Table 4-6 | Synthetic Turf Demand by Market, 2009 - 2029 (million square feet & million dollars)

Table 4-7 | Tufted Carpet & Rug Demand by Market, 2009 - 2029 (million square feet)

Table 4-8 | Tufted Carpet & Rug Supply & Demand, 2009 - 2029 (million square feet)

5. Woven Carpets & Rugs

Table 5-1 | Woven Carpet & Rug Demand by Product, 2009 - 2029 (million dollars & million square feet)

Table 5-2 | Axminster Carpet & Rug Demand by Market, 2009 - 2029 (million square feet)

Table 5-3 | Wilton Carpet & Rug Demand by Market, 2009 - 2029 (million square feet)

Table 5-4 | Velvet Carpet & Rug Demand by Market, 2009 - 2029 (million square feet)

Table 5-5 | Woven Carpet & Rug Demand by Market, 2009 - 2029 (million square feet)

Table 5-6 | Woven Carpet & Rug Supply & Demand, 2009 - 2029 (million square feet)

6. Needlepunched & Other Carpets & Rugs

Table 6-1 | Needlepunched & Other Carpet & Rug Demand, 2009 - 2029 (million dollars & million square feet)

Table 6-2 | Needlepunched Carpet & Rug Demand by Market, 2009 - 2029 (million square feet)

Table 6-3 | Other Carpet & Rug Demand by Market, 2009 - 2029 (million square feet)

Table 6-4 | Needlepunched & Other Carpet & Rug Demand by Market, 2009 - 2029 (million square feet)

Table 6-5 | Needlepunched & Other Carpet & Rug Supply & Demand, 2009 - 2029 (million square feet)

7. Residential Carpets & Rugs

Table 7-1 | Residential Carpet & Rug Demand by Application & Product, 2009 - 2029 (million square feet)

Table 7-2 | New Residential Carpet & Rug Demand by Housing Type & Product, 2009 - 2029 (million square feet)

Table 7-3 | Residential Replacement & Remodeling Carpet & Rug Demand by Housing Type & Product, 2009 - 2029 (million square feet)

Table 7-4 | Residential Carpet & Rug Demand by Housing Type, 2009 - 2029 (million square feet)

Table 7-5 | Single-Family Housing Carpet & Rug Demand by Application, 2009 - 2029 (million square feet)

Table 7-6 | Multifamily Housing Carpet & Rug Demand by Application, 2009 - 2029 (million square feet)

Table 7-7 | Manufactured Housing Carpet & Rug Demand by Application, 2009 - 2029 (million square feet)

8. Commercial Carpets & Rugs

Table 8-1 | Commercial Carpet & Rug Demand by Application & Product, 2009 - 2029 (million square feet)

Table 8-2 | New Commercial Carpet & Rug Demand by Building Type & Product, 2009 - 2029 (million square feet)

Table 8-3 | Commercial Replacement & Remodeling Carpet & Rug Demand by Building Type & Product, 2009 - 2029 (million square feet)

Table 8-4 | Commercial Carpet & Rug Demand by Building Type, 2009 - 2029 (million dollars)

Table 8-5 | Office, Trade, & Lodging Carpet & Rug Demand by Application, 2009 - 2029 (million square feet)

Table 8-6 | Institutional Carpet & Rug Demand by Application, 2009 - 2029 (million square feet)

Table 8-7 | Industrial Carpet & Rug Demand by Application, 2009 - 2029 (million square feet)

Table 8-8 | Other Commercial Carpet & Rug Demand by Application, 2009 - 2029 (million square feet)

9. Transportation Equipment & Nonbuilding Carpets & Rugs

Table 9-1 | Transportation Equipment & Nonbuilding Carpet & Rug Demand by Application & Product, 2009 - 2029 (million square feet)

10. Suppliers & Market Share

Table 10-1 | US Carpets & Rugs Sales by Company, 2019 (million dollars)

Table 10-2 | Selected Mergers & Acquisitions

Table 10-3 | Selected Industry Participants

11. Appendix

Table 11-1 | Relevant Industry Codes

Table 11-2 | Relevant HS Codes

Table 11-3 | Abbreviations & Acronyms Used in Study

Table 11-4 | Macroeconomic Indicators, 2009 - 2029 (billion 2012 dollars)

Table 11-5 | Population & Households, 2009 - 2029 (million persons)

Table 11-6 | Personal Consumption Expenditures, 2009 - 2029 (billion 2012 dollars)

Table 11-7 | | Consumer Financing Environment, 2009 - 2019

Table 11-8 | Building Construction Expenditures, 2009 - 2029 (billion 2012 dollars & billion dollars)

Table 11-9 | Residential Building Construction Expenditures, 2009 - 2029 (billion 2012 dollars & billion dollars)

Table 11-10 | New Housing Indicators, 2009 - 2029

Table 11-11 | Residential Improvement & Repair Expenditures, 2009 - 2029 (billion 2012 dollars & billion dollars)

Table 11-12 | Commercial Building Construction Expenditures, 2009 - 2029 (billion 2012 dollars & billion dollars)

Table 11-13 | Commercial Building Stock by Type, 2009 - 2029 (billion 2012 dollars)

Table 11-14 | Commercial Building Improvement & Repair Expenditures, 2009 - 2029 (billion 2012 dollars & billion dollars)

Table 11-15 | Nonbuilding Construction Expenditures, 2009 - 2029 (billion 2012 dollars & billion dollars)

Table 11-16 | Motor Vehicle Indicators, 2009 - 2029

Table 11-17 | Recreational Boats, Recreational Vehicles, & Civilian Aircraft Shipments, 2009 - 2029 (000 units)


List of Figures

1. Executive Summary

Figure 1-1 | US Carpets & Rugs Market

2. About This Report

Figure 2-1 | Carpets & Rugs: Product Examples

Figure 2-2 | Annual Carpet & Rug Demand by Market, 2019 - 2024 (million square feet)

3. Overview

Figure 3-1 | Carpet & Rug Demand, 2009 - 2019 (million square feet)

Figure 3-2 | US Carpet & Rug Imports: Share by Source, 2019 (billion square feet)

Figure 3-3 | US Carpet & Rug Imports by Source, 2009 - 2019 (million square feet)

Figure 3-4 | US Carpet & Rug Exports: Share by Destination, 2019 (million square feet)

Figure 3-5 | Carpet & Rug Average Prices, 2009 - 2019 (dollars per square foot)

Figure 3-6 | Comparative Growth Rates for Selected Flooring Products, 2019 - 2024 (% CAGR)

4. Tufted Carpets & Rugs

Figure 4-1 | Tufted Carpets & Rugs: Product Examples

Figure 4-2 | Tufted Carpet Imports: Share by Source, 2019 (million square feet)

Figure 4-3 | Tufted Carpet & Rug Market Share by Company, 2019 (billion dollars)

5. Woven Carpets & Rugs

Figure 5-1 | Woven Carpets & Rugs: Product Examples

Figure 5-2 | Woven Carpet & Rug Imports: Share by Source, 2019 (billion square feet)

Figure 5-3 | Woven Carpet & Rug Market Share by Company, 2019 (billion dollars)

6. Needlepunched & Other Carpets & Rugs

Figure 6-1 | Needlepunched & Other Carpets & Rugs: Product Examples

Figure 6-2 | Needlepunched & Other Carpet & Rug Imports: Share by Source, 2019 (million square feet)

10. Suppliers & Market Share

Figure 10-1 | US Carpets & Rugs Market Share by Company, 2019 (billion dollars)

Figure 10-2 | US Carpets & Rugs Market: Leading Supplier, 2019

Figure 10-3 | US Carpets & Rugs Market: Second Leading Supplier, 2019

Figure 10-4 | US Carpets & Rugs Market: Third Leading Supplier, 2019

Figure 10-5 | US Carpets & Rugs Market: Fourth Leading Supplier, 2019

Figure 10-6 | US Carpets & Rugs Market: Fifth Leading Supplier, 2019

11. Appendix

Figure 11-1 | Annual Growth in Real GDP, 2000 - 2019, Compared to 1980 - 2005 Average (percent)

Figure 11-2 | Annual Population Growth, 2004 - 2019 (percent)

Figure 11-3 | New Housing Square Footage by Housing Type, 2004 - 2019


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