The global Carpet Yarn Market was valued at $19.30 billion in 2023 and is projected to grow to $27.41 billion by 2030, registering a CAGR of 5.14% during the forecast period (2024–2030).
Carpet Yarn Market Overview
The Carpet Yarn Market is experiencing significant growth, driven by the resurgence of the tourism and hospitality sectors post-pandemic and increasing consumer preference for sustainable and eco-friendly carpets. Despite challenges such as raw material volatility and stiff competition, advancements in manufacturing technology and the adoption of innovative processes are fueling market expansion.
Market Scope
- Market Size in 2023: USD 19.30 billion
- Market Size in 2030: USD 27.41 billion
- CAGR (2024–2030): 5.14%
- Segment Scope:
- By End-User: Residential Use, Industrial Use, Other Use
- By Distribution Channel: Direct Sales, Indirect Sales
- Regional Scope: North America, Europe, Asia Pacific, Middle East & Africa, South America
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Market Drivers
- Growing Demand from Textile and Industrial Sectors: Increased adoption of carpets in commercial areas such as showrooms, offices, and restaurants is boosting the demand for carpet yarn.
- Shift Towards Sustainability: The rising preference for carpets made from bio-based, recycled, and eco-friendly materials is driving growth in sustainable carpet yarn production.
- Technological Advancements: Innovations in machinery and automation processes are enhancing production efficiency and capacity.
Market Trends
- ESG Integration: Companies are focusing on Environmental, Social, and Governance (ESG) compliance, gaining recognition for sustainable practices.
- Recycling Initiatives: Increased recycling of carpet waste and nylon materials to produce eco-friendly yarns.
- Customization: The demand for personalized and stylish carpets for residential and commercial use is rising, particularly in emerging markets.
Segmentation
- By End-User:
- Residential Use
- Industrial Use (dominant segment due to growing industrialization and commercial projects)
- Other Use
- By Distribution Channel:
- Direct Sales (dominant channel for cost efficiency)
- Indirect Sales (expected to grow exponentially with expanding e-commerce platforms)
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Key Players
- Aquafil S.p.A. (Italy)
- Swicofil AG (Switzerland)
- Canan Textile (Turkey)
- Spin Group (U.S.)
- HYOSUNG ADVANCED MATERIALS (South Korea)
- Shaw Industries Group, Inc. (U.S.)
- BONAR YARNS & FABRICS LTD. (U.K.)
- Bikaner Woolen Mills Private Limited (India)
- National Spinning Company (U.S.)
- CLC Industries Ltd (India)
- Kingbird (U.K.)
- Meridian Specialty Yarn Group (U.S.)
- Geetanjali Woollens Pvt. Ltd. (India)
- Gulsan Holding (Turkey)
Regional Analysis
- Asia Pacific: The region dominates the market, driven by the textile boom in India and Bangladesh. Increasing demand for personalized carpets in residential and industrial applications further supports growth.
- Middle East & Africa: Rapid expansion in the hospitality sector, including premium hotels and vacation villas, is fueling demand.
- North America & Europe: The regions are witnessing a shift toward localized production to mitigate supply chain disruptions, promoting regional market stability.
Key Questions Answered
- What is the projected market size of the Carpet Yarn Market by 2030?
- Which region holds the largest market share in the forecast period?
- What are the primary drivers of market growth?
- How are technological advancements influencing the Carpet Yarn Market?
- Who are the leading players, and what strategies are they adopting?
For the complete analysis, visit the following link:https://www.stellarmr.com/report/Carpet-Yarn-Market/744
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024-2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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