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Carpets & Floorcoverings Market Report 2009
Key Note Publications Ltd, Jan 2009, Pages: 100
The UK market for carpets and floorcoverings, which includes both the domestic and contract sectors, was estimated to be worth just under £6bn in 2008, an overall growth of 9.2% since 2004. This has been a relatively healthy period for the industry, with some positive manufacturing statistics and retail demand — which, although prone to dip in times of economic slowdown and caution, has reflected healthy interest in other years. The market fell in 2005, but 2006 and 2007 were marked by a strong pick-up.
Within the carpet sector, a move towards higher-quality products has helped somewhat in maintaining value growth. Carpets remain popular with consumers, and there is also demand in the commercial sector. The comforts of carpet are still important, but conversely there has been an increasing interest in other kinds of floors, particularly hard flooring such as wood and tiles. Vinyl sales have also remained strong, as the durability of vinyl and its relative cheapness maintain its appeal.
There has been some decline in interest in DIY, and this has dampened enthusiasm for laminate flooring and led to flat sales in this sector, over the period. However, this position now appears to have stabilised, and equally, an increased consumer interest in real wood floors — now extremely competitively priced — has helped to support value gains. As a result laminate floors, which now mimic real wood and stone alternatives more authentically, are gaining in popularity. There seems to be a strong future for wood flooring, although the market is becoming increasingly competitive and crowded.
Within the tiling sector, ceramic tiles that replicate natural stones such as limestone, slate and terracotta are becoming more popular, along with the authentic alternatives. One DIY retailer even offers competitively priced Travertine marble flooring for DIY installation, which is indicative of the growth in this sector, and reflects consumer interest for higher-quality products.
At the time this Market Report was published (January 2009) the sector is entering a difficult period, with leading retailers reporting sales declines into 2008. This is a reversal of some years of healthy growth for the leading multiple specialists, such as Carpetright, Allied Carpets and Topps Tiles. The slowdown in 2008 reflects the current stagnation of the housing market and the fear of recession. The slowdown in new house builds is also a concern for the flooring market. Although 200,000-240,000 new houses are targeted for construction each year over the next decade or so, the reality is likely to fall short of these targets in the short term, at least.
The flooring market is durable, however, and there is strong consumer interest, even in times of caution. This may be a particularly difficult period for small, independent flooring retailers and manufacturers, but the market is expected to bounce back between 2010 and 2013.
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