An Incisive, In-depth Analysis on the Middle East Flooring And Carpet Market
This study offers a comprehensive, 360 degree analysis on the Middle East Flooring And Carpet market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Middle East Flooring And Carpet market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Middle East Flooring and Carpet Market: Market gesture
In terms of value, the Middle East flooring and carpet market is anticipated to expand at a CAGR of 5.3 % during the forecast period, and is expected to be valued more than US$ 10 Mn by 2026 end. Among all product type segments in the Middle East flooring and carpet market, revenue from the carpet tile segment is anticipated to lead with a CAGR of 7.3 %( 2016–2026). This segment is expected to show continuous growth and anticipated to account more than 21 % of the total market share over the forecast period. The carpet segment is estimated to account for major value share in 2016, owing to continuous development in construction sector and launch of innovative designing floor technologies, which is expected to fuel growth in this segment over the forecast period.
Middle East Flooring and Carpet Market: The driving factors
Increasing end-use applications and product and process innovations in the flooring and carpet designs and technologies are the identified market opportunities in the region. Increasing demand in end-use industries such as growth in the automotive industry and increasing the popularity of artificial grass in sports fields and other outdoor applications are the factors expected to fuel the growth of Middle East flooring and carpet market over the forecast period. Increasing investments in construction sector between 2014 and 2020 is another factor expected served as another major growth driver for the flooring and carpet market in the Middle East.
Nylon segment will occupy a lion share of the market
The Nylon segment is expected to contribute comparatively high revenue among the material type segments over the forecast period, and is estimated to account for more than 40% value share of the overall Middle East market by 2016 end. Other material type segment is also expected to witness favorable revenue growth in the Middle East flooring and carpet market, registering a CAGR of 5.4% over the forecast period. The advent of new synthetic and natural fibers such as, olefins, acrylic, sisal fibre, and seagrass are expected to drive growth of other material type segment over the forecast period.
Hospitality and automotive application segments to swing the wind
Amongst application type segments, residential segment is expected to be dominate the market in terms of revenue share and expected to be valued more than 2000 Mn by 2016 end. Hospitality and Automotive application segments are expected to register comparatively higher growth rate than other application segments over the forecast period.
Qatar and Kuwait to be the game changers
Markets in Qatar and Kuwait are expected to grow significantly over the forecast period, growth of hospitality sector in these countries due to upcoming events such as Qatar FIFA World Cup 2022 are expected to drive carpet and flooring market in near future. Growing population and hospitality and tourism needs and various developments in commercial, residential, industrial and retail infrastructure are expected to fuel the growth of Middle East flooring and carpet market to a significant extent over the forecast period.
Among countries in the region, Saudi Arabia is estimated to account for a majority in terms of revenue share at 32.0% in 2016, followed by Egypt and Turkey. Qatar and Kuwait markets are expected to expand at a CAGR of 6.4% and 5.9% respectively and expected to register higher growth in terms of value over the forecast period.
The green products are fast gaining ground in the market
The stakeholders of the market such as Mac Carpet, Beaulieu International Group N.V, Tarkett S.A, Balta Group etc, Al Sorayai Group, Mohawk Industries, Oriental Weavers Group, Interface, Inc and Al Abdullatif Industrial Investment Company are revamping policies to meet up the new demand of the customers. They are rolling out new environment friendly products to stay in the competition.
This report by Future Market Insights on the Middle East Flooring and Carpet Market for the period 2016–2026 presents an outlook of the market across the globe. The primary objective of the report is to offer updates on market opportunities in the Middle East Flooring and Carpet Market. The report is categorically divided into four sections namely, by product type, by material, by region and by application to understand and offer insights on the Middle East Flooring and Carpet Market. The report provides analysis of the Middle East Flooring and Carpet Market in terms of market value (US$ Mn).
The report starts with an overview of the Middle East Flooring and Carpet Market. This section includes an analysis of key trends, drivers and restraints from the supply, demand and macroeconomic perspectives. Impact analysis of key growth drivers based on the weighted average model is included in the report to better equip and arm clients with crystal-clear and decision-making insights. The sections that follow analyse the Middle East Flooring and Carpet Market on the basis of the product type, material application and region present a comprehensive forecast in terms of value for the next 10 years.
By Product Type
To deduce market size, the report considers data points such as country wise divisions of the market within the region. The report also considers data gathered from the application segment, and by projects market data procured from the material section and also vividly analyses inducts qualitative inputs from primary respondents arrive at a suitable market estimate. The forecast presented in the report evaluates the total revenue that is expected to be generated across the Middle East Flooring and Carpet Market over the forecast period (2016–2026). When developing the market forecast, the starting point involved sizing up the current market, which forms the basis for forecasting how the market is anticipated to take shape during the forecast period. Given the characteristics of the market, we have triangulated the data on the basis of various analysis based on both supply side and demand side. We not only conduct forecasts in terms of CAGR but also analyse the market on the basis of key parameters such as Year-on-Year (Y-o-Y) growth to understand the predictability of the market and identify the right opportunities in the Middle East Flooring and Carpet Market.
As previously highlighted, the market for Middle East Flooring and Carpet Market is split into various sub-segments or categories, on the basis of region, material, application, and product type; all these sub-segments or categories have been analysed in terms of Basis Points (BPS) to understand the individual segments’ relative contribution to market growth. This detailed level of information is important for identification of many key trends in the Middle East Flooring and Carpet Market.
Another key feature of this report is the analysis of the Middle East Flooring and Carpet Market by countries. The application and material and its revenue forecast in terms of absolute dollar opportunity. This is usually overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the Middle East Flooring and Carpet Market. In order to understand key growth segments in terms of growth and performance of the Middle East Flooring and Carpet Market Future market, Insights has developed a market attractiveness index to help providers identify real market opportunities.
In the final section of the report, the Middle East Flooring and Carpet Market competitive landscape are included to provide report audiences with a dashboard view of the market players and company analysis, based on categories of providers across the value chain, their presence in the Middle East Flooring and Carpet Market portfolio and key differentiators.
From the horse’s mouth:
Through primary research we interacted with several retail majors and exporters. The market is somewhat dependent on exports and also the domestic consumption is also high in this market. A slew of technologies is also changing the face of the Middle East flooring and carpet market. The market is developing with time and will grow significantly within the foreseen period.
The abundance of new technologies is benefitting the industry and it is also draining jobs from the market. Massive demand and mushrooming artificial materials in the market is a major drawback for the weavers who are still dependent on their skills and not on technology.
The market is massively dependent on the retail joints and the ecommerce has not yet clawed into the middle-east flooring and carpet market.