North America Carpet Tile Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The North American carpet tile market is anticipated to register a CAGR of more than 4% during the forecast period, 2021-2026.

Due to the COVID-19 pandemic, the North American region was under the pressure of lockdown from mid-February 2020, which restricted the construction of housing and building projects. The lockdown restrictions limited the new purchases of carpet tile flooring owing to uncertainty in the economy and purchasing power parity in North America. However, the market is anticipated to bounce back during the forecast period due to the slowly changing situation and customers’ approach toward the pandemic.

Carpet tiles are used as a common alternative to rolled carpets and are used mainly in commercial buildings such as schools, libraries, airports, and corporate offices. In addition, carpet tiles are easier to install than traditional tiles and can be installed on a variety of floors like concrete, timber, and other surfaces. These tiles are wear-resistant, sound-proof, waterproof, anti-static, flame-retardant, anti-fouling, dimensionally stable, non-deformable, non-discoloring, extremely convenient to fit, and have other advantages, which are required for commercial buildings. In addition, carpet tiles act as insulation and help trap heat in cold weather, increasing their demand in cold countries. Innovation in the industry is related to eco-friendly carpet tile manufacturing. Their flexibility in terms of ease of installation, high level of customizability in terms of design and size, optimum pricing, and certain other attributes such as noise insulation and easy maintenance make their demand high. The growth of the market is driven by key factors such as manufacturing activity, market situation and demand, risks of the market, new trends, and new technologies and their implementation.

The North American carpet tile market has witnessed substantial growth over the last few years, and the growth of the market is attributed to several factors. Increasing consumer inclination toward interior aesthetics, coupled with the rising per capita disposable income of consumers, is anticipated to propel the growth of the market during the forecast period. One of the major factors driving the market is the expansion of the transportation and construction industries. Consumers are making a move toward non-geometrical designer patterns and attractive bold colors in carpet tiles, which is likely to drive the North American carpet tile market. Increased demand for environment-friendly carpets and increased adoption of carpet tiles are likely to boost the market further. In recent years, developments have focused on making the products more environment-friendly, versatile, and durable, as well as easier to install and maintain.

Key Market Trends

The Residential Segment in North America is Driving the Market

Growing disposable income and comparative advantages over other flooring solutions lead to an increase in home renovation projects, such as the removal of worn or out-of-style carpets and rugs, which may spur the demand. The installation of new carpeting can improve a home’s appearance and boost its value. Carpet tiles and carpets are often installed in newly built houses because of their moderate cost, ease of installation, and favorable aesthetics. Residential remodeling and replacement will continue to account for the largest share of carpet and rug demand as homeowners replace older or worn carpets and rugs with newer products that offer enhanced visuals or improved stain resistance.

The United States is Dominant in the Market

The United States has been the leading North American carpet tile market and is expected to continue the same trend over the forecast period. The rapid expansion of the construction and housing activities across the region, particularly in the United States, is one of the primary factors expected to foster the growth of the carpets and carpet tile market in the growth of the market in the United States. Apart from that, increasing renovation and remodeling activities in the real estate sector in the United States have resulted in the massive demand for carpet tiles over the last few years. The region has a high rate of innovation, which helps in propelling market growth. High disposable income leads to a high level of investments and better standards of living. The United States is one of the countries generating the highest revenue for the market.

Competitive Landscape

The report covers major international players operating in the North American carpet tile market. In terms of market share, few of the major players currently dominate the market. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping into new markets.

Additional Benefits:

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