Feb 24, 2020 (KD Market Insights via COMTEX) -- Carpet Market by Material (Nylon, Olefin, Polyester and Others), End User (Residential and Commercial), Sales Channel (Hypermarket & Supermarket, Specialty Store and Online sales Channel) and Price Point (Economy and Luxury): Global Opportunity Analysis and Industry Forecast, 2019-2026
The Global Carpet Market is expected to grow at a CAGR of 4.6% during the forecast period 2019-2026. As per the analysis, the market was valued at $51.9 billion in the year 2018, and is expected to reach $73.9 billion by the year 2026.
Carpet is a floor covering in textile form that is made from wool or other synthetic materials such as polyester, nylon, polypropylene, acrylics, etc. Product advancements by carpet manufacturers allow increased durability and cost effectiveness in the carpet manufacturing. There are various techniques involved in the manufacturing of the carpet such as tufted, knitting or weaving.
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The major applications of carpets are to provide insulation from the floors especially in cold regions, and to provide aesthetic look to the room owing to increasing focus on interiors by end-users in both commercial and residential segment. Carpets are used to keep place cozy and warm and carpet floor helps in absorbing moisture, pet dander, dust & dirt trapping and noise among others. In recent times, the transportation industry accounted as the major end-user of carpets.
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