Asia Pacific Area Rugs Market Forecast to 2028 - Regional Analysis - by Type and End-Use

The Asia Pacific area rugs market is expected to grow from US$ 3,610.69 million in 2023 to US$ 4,657.66 million by 2028. It is estimated to grow at a CAGR of 5.2% from 2023 to 2028.

New Product Launches and Product Innovations Fuels Asia Pacific Area Rugs Market

The players operating in the Asia Pacific area rugs market are focusing on adopting different strategies, such as investments in research and development activities and new product launches, to stand out as strong competitor in the market. Manufacturers are developing area rugs that meet increasing consumer demand for high-product quality and durability. With the growth in building remodeling, renovation, and residential and non-residential construction activities, manufacturers are also producing high-quality products to keep up with the growing consumer demand for area rugs. The area rugs will be designed for cutting-edge performance along with broadloom qualities and textures, with plush, thick piles and greater density. The new product launches and product innovations in the Asia Pacific area rugs market are expected to offer more lucrative opportunities for market growth during the forecast period.

Asia Pacific Area Rugs Market Overview

In Asia Pacific, the construction industry is expected to be driven by high spending on the development of the commercial sector. Asia Pacific is the world’s largest region in terms of infrastructure investment. An increase in commercial projects in emerging countries such as India, China, Indonesia, Vietnam, and the Philippines will positively contribute to the market growth. According to real estate Asia, the investment in the Southeast Asia real estate market reached ~US$ 19 billion in 2022, which was the highest in the decade. Vietnam and Indonesia surpassed the average investment in the last 10 years. The growing demand for aesthetically pleasing durable, and easy-to-maintain products such as carpets and rugs is expected to drive the market in Asia Pacific over the forecast period. Area rugs are highly utilized in all major commercial sectors of Asia Pacific, such as corporate, healthcare, education, retail, and hospitality. The market is competitive and dynamic because of the significant presence of manufacturers and associated nonresidential construction businesses in the region. Thus, the growing building & construction industry in the region is boosting the nonresidential sector growth, propelling the Asia Pacific area rugs market growth.

Asia Pacific Area Rugs Market Revenue and Forecast to 2028 (US$ Million)

Asia Pacific Area Rugs Market Segmentation

The Asia Pacific area rugs market is segmented into type, end-use, and country.

Based on type, the Asia Pacific area rugs market is segmented into wool, nylon, synthetic fibers, and others. The synthetic fibers segment held the largest share of the Asia Pacific area rugs market in 2023.

Based on end-use, the Asia Pacific area rugs market is segmented into residential and nonresidential. The nonresidential segment held the largest share of the Asia Pacific area rugs market in 2023.

Based on country, the Asia Pacific area rugs market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific area rugs market in 2023.

Amer Rugs Inc, Faze Three Ltd, Golden Carpets Ltd, Maa Collections, Nodi Handmade Rugs Ltd, Riviere Rugs Ltd, and Riztex USA Inc are some of the leading companies operating in the Asia Pacific area rugs market.

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