Saudi Arabia Carpet and Rugs Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Saudi Arabian carpet and rugs market is expected to witness significant growth in the forecast period.

Key Highlights

• Some of the major factors driving the market include the changing consumer preferences, increasing focus on interior decoration in households, evolving lifestyles, and rising consumer income levels. Furthermore, the increased spending on renovation and remodeling activities on the existing buildings is also one of the major factors fueling the demand in the market.
• Saudi Arabia exports carpet to more than 70 countries. Currently, on a yearly basis, it produces nearly 120-130 million sq. m of carpet, with an annual consumption of around 70 million sq. m.
• Carpet and rugs are used for their artistic and functional properties, and they also provide a protective layer to floors. The market is expected to grow significantly due to the growing interest in the products for interior decoration. Homeowners are increasingly expressing their interest toward comfortable houses and beautiful interiors, which is expected to fuel the demand in the market during the forecast period.

Key Market Trends

Increasing Construction Activities in the Residential Sector

The country is witnessing a steady increase in the residential construction sector, which is driving the demand for carpet and rugs. The increasing investments in new housing construction activities and the rapid increase in home renovation projects are driving the growth of the in the Saudi Arabian carpet and rugs market.

The growth is majorly driven by the expansions in building construction activities and rising spending on building improvements and repair activities. In terms of renovation, there exists a large base of installed carpet and rugs, many of which are subject to high levels of wear and tear and, thus, may eventually require replacement.

According to the Saudi Arabia’s Ministry of Housing, an estimated 3.0 million houses have to be built by 2025, in order to address the housing shortage in the country. The growing residential construction sector is expected to create demand for carpet and rugs.

Tufted Carpet Account for the Highest Demand in the Market

Saudi Arabia is a prominent market for wall to wall tufted carpet. Tufted carpets account for most of the demand, because of the low cost, ease of installation, favorable aesthetic and performance properties, and increasing demand from consumers for wall to wall carpeting.

Tufted carpet is springy. Hence, it is ideal for rooms with heavy furniture. The increasing building construction activities and rising number of new housing units in the country may result in the high demand for tufted carpet during the forecast period, due to the moderate cost and aesthetic appeal of these carpets.

Competitive Landscape

The Saudi Arabian carpet and rugs market is moderately consolidated, with the presence of some of the top players, such as Al Sorayai, Al Abdullatif, Balta Group, Oriental Weavers, and AL Sadoun. There is an increasing competition in the market from the small and medium players, along with international companies trying to capture the market share by innovating and designing new products. International companies, such as Merinos Carpet, Balta Group, and Oriental Weavers, are giving tough competition to the local players in the Saudi Arabian market by selling their products through the retail and e-commerce channels.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support