CarpetBacking Material Market: Introduction
In terms ofvalue, the global carpet backingmaterial market is anticipated to expand at a CAGR of ~5% from 2019 to 2027. Carpetbacking material is used as a protective coat for carpets. Carpets can bemanufactured in two ways: handmade or machine made. Different types of carpetsinclude hand woven, tufted, and needle felt. Woven carpet is made on a loomthat is quite alike to a loom for weaving fabric. The production process oftufted carpets varies compared to that of woven carpets.
Increase in Adoption of CarpetProducts in Global Construction Industry to Boost Carpet Backing MaterialMarket
The globalbuilding & construction industry is projected to expand significantly overthe next few years, due to rise in urbanization and population across theworld. Changing lifestyle is also anticipated to drive the global constructionindustry in the next few years. Increase in population and economic growth haveled to a rise in investment in housing and infrastructure development acrossthe globe. High wear resistance, low maintenance, better moisture resistance,and good esthetics are some of the attributes of carpet products. Hence,consumption of carpets is high in the construction industry.
Theconstruction industry in Europe is expected to expand at a rapid pace duringthe forecast period. Europe is estimated to become the sixth-largestconstruction industry in the world by 2030. Growthrate of the construction industry in India is likely to be twice that in Chinaby 2024, owing to the increase in urban population and rise in governmentinvestments in infrastructure development in India. According to the WorldBank, investment in infrastructure development in the Middle East is estimatedto rise by approximately US$ 100 Bn by 2031.
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Primary Backing to be LeadingProduct Type
In terms ofproduct type, the primary backing segment is projected to expand at a CAGR ofmore than 4.5% during the forecast period.This can be ascribed to the increase in infrastructure development activitiesas well as rise in consumption of carpet for floor decorative purposes. Oflate, demand for carpet products manufactured using primary carpet backingmaterial has been rising significantly in the U.S. and developing countries.This trend is likely to continue during the forecast period, owing to theupcoming projects in the building & construction industry across the globe.
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Tufted Carpet to be Dominant CarpetType Segment of Carpet Backing Material Market
Based oncarpet type, the global carpet backing material market has been segregated intohand woven carpets, tufted carpets, needle felt carpets, and others (includingnon-woven carpets). In terms of consumption, tufted carpets was the leadingcarpet type segment of the global carpet backing material market in 2018. Thistrend is expected to continue in the near future. Demand for tufted carpets isanticipated to rise significantly in the region due to the emerging trend ofusing different types of carpet materials in residential and commercialconstruction activities. In terms of revenue, tufted carpets is estimated to beone of the lucrative segments of the carpet backing material market in the nearfuture.
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Residential to be Major Applicationof Carpet Backing Material
Based onapplication, the global carpet backing material market has been bifurcated intoresidential and commercial. The residential segment held a prominent share ofthe global carpet backing material market in 2018. Carpetproducts are widely employed in the residential replacement sector. Theresidential segment is expected to expand at a rapid pace during the forecastperiod. The new residential sector is anticipated to expand significantlyduring the forecast period. Revival of the building & construction industryis projected to propel the demand for carpets across the globe during theforecast period.
Asia Pacific to be Lucrative Regionof Carpet Backing Material Market
In terms ofconsumption, North America dominated the global carpet backing material marketin 2018. Themarket in the region is likely to expand at a strong pace from 2019 to 2027. Growthin the tourism sector, improvement of the economy, and changing lifestyles areprojected to boost air travel in North America during the forecast period. Thisis likely to drive the demand for carpet backing material in the next fewyears. Europe is also considered a high potential region of the global carpetbacking material market, led by the rise in demand for tufted carpets inGermany, the U.K., and Russia & CIS. This is expected to drive the marketin the region in the near future. Presence of established manufacturers incountries such as Germany, France, and the U.K. is boosting the demand forcarpet backing material in the region. Stringent regulations imposed by the EUhave compelled manufacturers to develop eco-friendly and sustainable carpetproducts.
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Competition Landscape
The globalcarpet backing material market is highly fragmented. The top players such as Shaw Industries Group, Inc.,Tarkett, Interface, Inc., Wacker Chemie AG, Balta Industries NV, The DowChemical Company cumulatively held more than 40% shareof the global market in 2018.
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