Saudi Arabia: Tufted Carpet Market 2024

Tufted Carpet Market Size in Saudi Arabia

In 2023, the Saudi tufted carpet market increased by X% to $X for the first time since 2020, thus ending a two-year declining trend. Overall, consumption continues to indicate moderate growth. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2023, consumption failed to regain momentum.

Tufted Carpet Production in Saudi Arabia

In value terms, tufted carpet production declined significantly to $X in 2023 estimated in export price. In general, production continues to indicate a pronounced shrinkage. The growth pace was the most rapid in 2017 when the production volume increased by X%. Tufted carpet production peaked at $X in 2019; however, from 2020 to 2023, production failed to regain momentum.

Tufted Carpet Exports

Exports from Saudi Arabia

In 2023, overseas shipments of tufted carpets and other tufted textile floor coverings decreased by X% to X square meters for the first time since 2020, thus ending a two-year rising trend. Overall, exports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2022 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X square meters in 2013; however, from 2014 to 2023, the exports failed to regain momentum.

In value terms, tufted carpet exports contracted notably to $X in 2023. Over the period under review, exports recorded a abrupt curtailment. The growth pace was the most rapid in 2022 when exports increased by X%. The exports peaked at $X in 2013; however, from 2014 to 2023, the exports failed to regain momentum.

Exports by Country

Bahrain (X square meters) was the main destination for tufted carpet exports from Saudi Arabia, with a X% share of total exports. Moreover, tufted carpet exports to Bahrain exceeded the volume sent to the second major destination, Nepal (X square meters), threefold. Jordan (X square meters) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Bahrain totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nepal (X% per year) and Jordan (X% per year).

In value terms, Bahrain ($X), Kuwait ($X) and Jordan ($X) constituted the largest markets for tufted carpet exported from Saudi Arabia worldwide, with a combined X% share of total exports. Bangladesh, Nepal, India and Turkey lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Nepal, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average tufted carpet export price stood at $X per square meter in 2023, shrinking by X% against the previous year. In general, export price indicated slight growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, tufted carpet export price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2017 an increase of X%. As a result, the export price attained the peak level of $X per square meter. From 2018 to 2023, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was Kuwait ($X per square meter), while the average price for exports to Nepal ($X per square meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Kuwait (X%), while the prices for the other major destinations experienced a decline.

Tufted Carpet Imports

Imports into Saudi Arabia

In 2023, overseas purchases of tufted carpets and other tufted textile floor coverings decreased by X% to X square meters, falling for the third year in a row after four years of growth. In general, imports posted temperate growth. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Imports peaked at X square meters in 2020; however, from 2021 to 2023, imports failed to regain momentum.

In value terms, tufted carpet imports stood at $X in 2023. Overall, imports recorded a modest expansion. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2015; however, from 2016 to 2023, imports remained at a lower figure.

Imports by Country

China (X square meters), the United Arab Emirates (X square meters) and Jordan (X square meters) were the main suppliers of tufted carpet imports to Saudi Arabia, together accounting for X% of total imports.

From 2012 to 2023, the biggest increases were recorded for Jordan (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United Arab Emirates ($X) and Jordan ($X) constituted the largest tufted carpet suppliers to Saudi Arabia, together accounting for X% of total imports.

Among the main suppliers, Jordan, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average tufted carpet import price amounted to $X per square meter, flattening at the previous year. Over the period under review, the import price saw a mild downturn. The growth pace was the most rapid in 2014 an increase of X% against the previous year. As a result, import price attained the peak level of $X per square meter. From 2015 to 2023, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per square meter), while the price for Vietnam ($X per square meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by India (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform