Carpet And Rug Market Overview in the USA

In 2019, the U.S. carpet and rug market decreased by -% to $ for the first time since 2016, thus ending a two-year rising trend. The market value increased at an average annual rate of +% over the period from 2013 to 2019; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2015 when the market value increased by % year-to-year. Carpet and rug consumption peaked at $ in 2018, and then reduced modestly in the following year.

In value terms, carpet and rug production fell slightly to $ in 2019. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of % year-to-year. As a result, production reached the peak level of $. From 2016 to 2019, production growth remained at a somewhat lower figure.

In 2019, after two years of growth, there was decline in consumption of carpets and rugs, when its volume decreased by -% to square meters. The total consumption volume increased at an average annual rate of +% over the period from 2013 to 2019; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2015 with an increase of % y-o-y. Carpet and rug consumption peaked at square meters in 2018, and then fell slightly in the following year.

The size of the carpet and rug market in the U.S. dropped to $ in 2019, approximately equating the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% over the period from 2013 to 2019; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2015 with an increase of % against the previous year. Carpet and rug consumption peaked at $ in 2018, and then declined in the following year.

Driven by increasing demand for carpet and rug in the U.S., the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +% for the period from 2019 to , which is projected to bring the market volume to square meters by the end of .

Driven by a growing demand, the share of imports in total supply in the U.S. increased significantly over the last six-year period (from % to %).

The U.S. remains a net importer of carpet and rug; in physical and value terms, imports consistently exceeded exports from 2013 to 2019. In 2019, there was a significant trade deficit of square meters, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.