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Global trade of MMF floor coverings growing since 2015

09
Dec '19
Pic: Shutterstock
Pic: Shutterstock
The global trade of carpets and other textile floor coverings of man-made textile material has been growing with a high CAGR (compound annual growth rate), after witnessing a fall in 2015, according to data from TexPro. The trade has increased from $11,678.36 million in 2016 to $13,701.50 million in 2018 with a growth rate of 17.32 per cent.

The total trade gained 8.16 per cent in 2018 over the previous year. It is anticipated to reach $17,412.40 million in 2021 growing at a CAGR of 8.32 per cent from 2018, according to Fibre2Fashion's market analysis tool TexPro.

The global exports of carpets and other textile floor coverings of man-made textile material was $7,183.64 million in 2016 which reached $8,453.43 million in 2018 with a growth rate of 17.68 per cent. Overall increase of exports of carpets and other textile floor coverings of man-made textile material moved up by 8.66 per cent in 2018 over the previous year, and is anticipated to reach $10,791.10 million in 2021 with a CAGR of 8.48 per cent from 2018.

In terms of volume, the global exports of carpets and other textile floor coverings of man-made textile material was 1,062.38 thousand tonnes in 2016, which jumped 22.48 per cent to 1,301.15 thousand tonnes in 2018. Overall export of carpets and other textile floor coverings of man-made textile material rose by 7.95 per cent in 2018 over the previous year. It is expected to reach 1,763.61 thousand tonnes in 2021 growing at a CAGR of 10.67 per cent from 2018.

In value terms, China ($3,071.15 million),  Turkey ($2,066.03 million), Belgium ($982.95 million), Netherlands ($437.85 million) and Iran ($374.41 million) were the key exporters of carpets and other textile floor coverings of man-made textile material across the globe in 2018, together comprising 82.01 per cent of total export. These were followed by India ($292.39 million), US ($240.45 million), Germany ($142.48 million) and Canada ($97.75 million).

From 2013 to 2018, the most notable rate of growth in terms of export, amongst the main exporting countries, was attained by China (158.25 per cent), Iran (40.73 per cent) and Turkey (15.96 per cent).

Fibre2Fashion News Desk (RKS)


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