July 14, 2024

The Global Middle East Flooring And Carpet Market Growth Accelerated By Increased Urbanization

Flooring and carpets are essential for home and commercial environments in the Middle East region. Carpets help keep indoor spaces warm and offer aesthetics, while various types of flooring including vinyl, wood, laminate and tiles provide durability and versatility for different room functions. The growing construction of residential and commercial buildings coupled with rising disposable incomes has amplified the demand for innovative and attractive flooring solutions.

The global Middle East Flooring and Carpet Market is estimated to be valued at US$ 8.93 Bn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
According to estimates, over 80% of the region’s population will be living in urban centers by 2030 compared to 60% in 2000. This has spawned a flurry of residential and commercial construction activities to accommodate the growing urban populace. Moreover, shifting lifestyle trends towards modern aesthetics have boosted the sales of designer flooring materials like laminates, luxury vinyl tiles and plush broadloom carpets. Leading manufacturers are launching innovative product lines incorporating latest textures, styles and installation techniques to capitalize on the opportunities arising from heightened urbanization.

Segment Analysis

The Middle East flooring and carpet market is dominated by the residential segment. Rising infrastructure development coupled with growing construction activities of residential buildings and dwellings has been fueling the demand for flooring and carpets in the region. The non-residential segment, which includes demand from public buildings, malls, institutes, hospitals etc. is also gaining rapid traction. Within the non-residential sector, demand for carpets is especially high from hospitality and tourism industry due to rapid growth in hospitality infrastructure projects.

Key Takeaways

The Middle East Flooring And Carpet Market Size is expected to witness high growth. The global Middle East Flooring and Carpet Market is estimated to be valued at US$ 8.93 Bn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030.

The UAE dominates the Middle East flooring and carpet market currently. It accounts for over 35% of the total regional market revenues led by robust infrastructure development, tourism expansion and rapid urbanization in the country. However, Saudi Arabia is emerging as a high growth hotspot with growing investments towards infrastructure modernization under Vision 2030 initiatives. Rise in construction of commercial and residential real estate is fueling demand for quality floorings and carpets from Saudi Arabia.

Key players
Key players operating in the Middle East flooring and carpet market are Al Sorayai Group (Saudi Arabia), Abdullatif Carpets (Saudi Arabia), Al Mira Carpet Factory (Saudi Arabia), Abu Dhabi National Carpet Factory (UAE), Mac Carpet (Egypt), Prado Egypt For Carpet (Egypt), Gheytaran Carpet (Iran), Oriental Weavers (Egypt), Standard Carpets Ind.LLC., Saida Carpets (Jordan), Dormina (Turkey), International Players (Mohawk Industries, Interface Middle East, Beaulieu Flooring, Tarkett S.A., Balta Group, and Shaw Industries Group, Inc.). The market is highly fragmented with the presence of several regional and local players. However, rising consumer inclination towards imported and branded products is helping key international companies to garner higher market share.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it