GCC: Tufted Carpet Market 2024

Tufted Carpet Market Size in GCC

The GCC tufted carpet market reached $X in 2022, increasing by 5.3% against the previous year. Overall, consumption recorded a buoyant increase. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Tufted Carpet Production in GCC

In value terms, tufted carpet production rose rapidly to $X in 2022 estimated in export price. The total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.2% 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 -10.1% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 68%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Tufted Carpet Exports

Exports in GCC

In 2022, shipments abroad of tufted carpets and other tufted textile floor coverings increased by 7.9% to X square meters, rising for the third consecutive year after two years of decline. Total exports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +6.8% 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 +48.0% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 32% against the previous year. The volume of export peaked in 2022 and is likely to see gradual growth in the immediate term.

In value terms, tufted carpet exports contracted rapidly to $X in 2022. Total exports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.0% 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 +31.5% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 43% against the previous year. As a result, the exports reached the peak of $X, and then contracted significantly in the following year.

Exports by Country

The United Arab Emirates was the main exporting country with an export of about X square meters, which accounted for 84% of total exports. It was distantly followed by Saudi Arabia (X square meters), mixing up a 15% share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the tufted carpets and other tufted textile floor coverings exports, with a CAGR of +9.0% from 2012 to 2022. Saudi Arabia experienced a relatively flat trend pattern. From 2012 to 2022, the share of the United Arab Emirates increased by +16 percentage points.

In value terms, the United Arab Emirates ($X) remains the largest tufted carpet supplier in GCC, comprising 79% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 19% share of total exports.

In the United Arab Emirates, tufted carpet exports expanded at an average annual rate of +6.3% over the period from 2012-2022.

Export Prices by Country

The export price in GCC stood at $X per square meter in 2022, shrinking by -23.1% against the previous year. Over the period under review, the export price saw a mild contraction. The most prominent rate of growth was recorded in 2014 an increase of 8.6% against the previous year. Over the period under review, the export prices hit record highs at $X per square meter in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per square meter), while the United Arab Emirates stood at $X per square meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+1.8%).

Tufted Carpet Imports

Imports in GCC

Tufted carpet imports shrank to X square meters in 2022, waning by -3.2% compared with 2021 figures. Total imports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +7.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +105.9% against 2013 indices. The growth pace was the most rapid in 2014 with an increase of 29% against the previous year. The volume of import peaked at X square meters in 2021, and then contracted in the following year.

In value terms, tufted carpet imports declined to $X in 2022. Total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +39.2% against 2016 indices. The growth pace was the most rapid in 2014 with an increase of 47%. The level of import peaked at $X in 2021, and then fell in the following year.

Imports by Country

The United Arab Emirates represented the largest importing country with an import of around X square meters, which finished at 42% of total imports. Kuwait (X square meters) took the second position in the ranking, followed by Qatar (X square meters), Bahrain (X square meters) and Oman (X square meters). All these countries together held approx. 58% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Kuwait (with a CAGR of +14.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported tufted carpets and other tufted textile floor coverings in GCC, comprising 30% of total imports. The second position in the ranking was held by Kuwait ($X), with a 12% share of total imports. It was followed by Qatar, with a 7.4% share.

In the United Arab Emirates, tufted carpet imports expanded at an average annual rate of +4.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Kuwait (+9.9% per year) and Qatar (+0.7% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per square meter, standing approx. at the previous year. In general, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the import price increased by 16%. The level of import peaked at $X per square meter in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per square meter), while Qatar ($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 Qatar (-1.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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