Manufacturing industries have been affected significantly by the public and health safety measures that were put in place during the early stages of COVID-19. What started as a promising and innovative year for the carpet business came to a halt. It plummeted by 6% this past first quarter and 30% at the second.
However, the carpet industry eventually saw the light and started picking up around the third quarter. Analysts expect the carpet and rugs industry to rise at a considerable 4% CAGR from 2020 to 2025.
Overall, it’s good news for the carpet and rug suppliers that have been continuously developing more colors and innovations all through 2020—and they’re just getting started.
Consumer Demand Soars
With various safety measures put in place by governments worldwide and people have to spend more time at home, more and more residents are starting to look into improving their homes.
From DIYs to professional services, homeowners are seeking to update floorings with new carpets. Whether it is only to brighten the rooms or to amp the home’s value—or both—carpets and rugs are getting consumers’ attention.
The increasingly dry and cold weather in specific locations has also influenced the growth of the carpet and rug economy since they provide insulation for floors.
The timing is right as well, with long-time manufacturers Rawson Carpet Solutions producing promising, cutting-edge carpet tiles that homeowners can get their hands on. Some companies are even developing stain-resistant features. Now you can greet 2021 in style, save with moderate carpeting prices, and enjoy easy installation.
The carpet industry also owes its rising potential to the growing construction industry due to urbanization and consumer interest in interior decoration.
These factors are just some of the reasons why you could be looking at a healthy economy for the carpet industry for the next couple of years. As research reveals, consumers also believe that the normalcy they once knew won’t be back anytime soon, which encourages them to make their homes a place where they can destress and be comfortable.
COVID-19 has also influenced homeowners’ behavior in other ways. Everyone—homeowners, business owners, building managers—are trying to keep their surfaces clean, including their flooring. As such, many people are removing old and outdated carpets in order to improve the cleanliness of their spaces and replacing them with updated, easier-to-clean carpeting.
Global Competitiveness
As rugs are still one of the most common types of flooring, the demand on carpeting manufacturers is not just to keep producing what works. The focus is to utilize technological innovations by integrating them with existing products and using them to new ones as well.
North America is currently the leading producer in the carpets and rugs industry. Here are some of the major players in the carpet industry:
• Dixie Group Incorporation
• Ikea Group
• Oriental Weavers
• Mohawk Industries Inc.
• Interface Inc.
• Tai Ping Carpets International Limited
• Victoria PLC
• Milliken and Company
• Tarkett SA
• Home Depot Inc.
Small and medium carpet companies are also playing the field of advanced product development. Acquisitions and merging companies are likely to proceed as part of the vital strategies in meeting global demand.
Price Hikes and Backlogs
COVID
-19 hit everyone hard. Due to safety implementations, many businesses, including the manufacturing industry, had to cease operations. Plants would shut down for long periods, causing a significant amount of pending production. Aside from the lockdown, social distancing within the production line and workers not being able to come in to work slowed the process. Consequently, prices were raised from 3–8% as the result of the holdup.
Carpet Solutions by the Best
Carpets are an all-time favorite flooring choice because of their numerous benefits. They’re versatile and can be mixed and matched with the looks or rooms. They are shock absorptive, warm, and quiet to walk on. Today, consumers have a vast selection available to them, depending on their needs.
However, that’s not the end of carpet functionality. Suppliers create more color choices and add innovative features on carpets that you may soon see at retail shops.
- Engineered Floors is coming up with ColorBurst, a variable color technology that uses layers to create natural visuals.
- Anderson Tuftex successfully created the Colorpoint Platinum Technology in tailored loop styles of carpeting to produce intense colors and natural textural effects.
- Envision66 by the Dixie Group brought durability and affordability with its nylon program in expansion.
- Nature’s Carpet brought in 100% pure New Zealand wool to incorporate with broadlooms for a natural, more sustainable, and health-friendly variety.
- MOHAWK’s ColorMax has brought clarity and definition to carpeting that can be compared to the color quality of what you see on television.
- Primus PET-SuraSoft Fibre is the combination of durability and softness into carpets. If you like flecked tweed, seeing it will remind you of stones and their natural color.
- SOUTHWIND gives birth to the ColorSurgeSD for color separation that won’t overwhelm the room.
Increasing Shares
Carpets have been gradually replacing hard floorings over the last decade. Some studies say that close to 35% of households are making the switch. Carpets are making their way into family bedrooms and recreation rooms because of their relaxing feel under the feet.
Homeowners in UK are spending so much time building their homes that renovation is taking five years on average. It’s crucial that homeowners feel relaxed in their own homes. They are willing to buy premium carpet products for at least two rooms, aside from spending on other finishing touches. Because homeowners are now willing to spend so much on what they want, conversions are looking solid.
In Conclusion
COVID-19 may have brought the world to its knees, but not everyone has to stay down. The carpet and rug industry shows so much promise and still rising because of how the pandemic influenced this retail market. Consumers now have the time to replace the flooring with carpets, and they’re asking for a wide array of selections. Suppliers continue to dazzle and inspire with innovative designs for various needs in offices, schools, and even outdoors. Prices may have risen, but there’s no stopping homeowners from doing home renovations.