Market Research Report
Turkey Carpet and Rugs Market - Growth, Trends, and Forecasts (2020 - 2025)
|Published by||Mordor Intelligence Pvt Ltd||Product code||945924|
|Published||Content info||120 Pages
Delivery time: 2-3 business days
|Turkey Carpet and Rugs Market - Growth, Trends, and Forecasts (2020 - 2025)|
|Published: June 1, 2020||Content info: 120 Pages||
The Turkish carpets have gained worldwide demand with their unique designs and the influential Greeks patterns. The carpets which are thicker and are made of wool, cotton, and silk have demand in the western countries and are widely used in religious places in the Middle Eastern countries. The demand for carpet and rugs is high in residential purposes followed by commercial and hospitality industries. Hotels, corporate offices, and mosques are the major end-users of carpets in Turkey and the machine-made carpets are also gaining more significance from the past few years with their easy to installation, and clean have helped them to expand to hotels and commercial business segments. The Hand-tufted carpets have gained recognition and constitute the high portion of exports as they can be produced in a faster manner and offers varieties in terms of designs, textures, and finishes. The richer and luxurious- feel experience to they give the customers have also made them competitively priced in the market, to help faster penetration. Hand-knotted carpets are often considered as premium category products. Unlike other flooring products, the replacement demand for carpets is higher than the new demand as the average life of carpets is around 5-6 years. Replacement demand in mosques is higher than other segments, as the carpets are most frequently replaced every two or three years driving the market.
Increasing Demand for Turkish Carpets Worldwide is Driving the Market
Turkey accounts for more than 65% of the world's machine-made carpet production and more than 60% of them are produced in the southern province of Gaziantep, Turkey. The country is aiming to surpass China as the leading exporter by increasing exports and sales of handmade, machine-made, and tufting machine-made variant carpets. The total export value of Turkish carpets was USD 2.2 billion during 2018 and the difference between China and Turkey was USD 0.6 billion for the year.
Middle Eastern Countries are the Highest Market for Turkey Carpet Exports in 2018
Turkey carpets are famous for their quality and have been occupying a major share in decorating homes around the globe as they sold their products to around 176 countries worldwide. The Middle Eastern countries ranked in first place among the country groups with high Turkey carpet imports in 2018 with USD 720 million worth export value followed by the American countries with USD 604 million export value. The European countries occupy the third-highest export value with exports amounting to USD 443 million.
The report covers major players operating in Turkey Carpet and Rugs market along with their product portfolio, key financials, and developments. Carpet and Rugs market is transforming with many technological advancements through product innovation and process automation. The key market players are focusing on improving their production capacity which will help them to increase exports.