Despite competition from the hard flooring market, the value of the European rug and carpet market is set to rise over the next four years. A report by Grand View Research estimates that it will grow over 3% every year, to reach approximately £46.22 billion in 2025.
Where will the rise come from?
The UK is set to play a significant part in this rise, along with Denmark and Germany. This is somewhat surprising considering the slight drop in the UK market value during 2020-2021 due to Covid-19. People were using office buildings less, construction dramatically decreased, and there were fewer funds available for refurbishments. Currently, the market size of the UK Carpet & Rug Manufacturing Industry is £934.1m in 2021, measured by revenue.
However, there are many factors that influence potential market growth and have caused experts to predict the future rise. These include…
Sustainability is no longer a unique selling point and is now a necessity in the carpet industry. This will only increase in importance over the next few years.
Recycled materials are now at the heart of manufacturing processes in the European Market, with carpets that are at the end of one life cycle being reused to create new, exciting products.
Commercial carpet sector
The commercial carpet sector in particular is set to experience growth. A Future Market Insights report predicted that application in education, hospital and healthcare sectors will continue to create sustained opportunities for flooring and carpet industry manufacturers during the forecast period.
What does this mean for the UK industry?
Due to Brexit, the pound has been depreciating against the Euro. This raises the cost of imports coming in from overseas, but also makes UK manufactured products more price competitive and attractive to overseas retailers. This will hopefully help the UK carpet industry to rise in value in the coming years.
Furthermore, small companies like Heckmondwike FB and our sister company Paragon Carpet Tiles are making leaps and bounds in sustainable innovations. For example, our zero waste policy and use of recycled materials fit the market forecast. For over 50 years, we have been market leaders in pioneering the use of fibre bonded technology in the education sector. Our mission is to continue innovating for many years to come, whilst sticking to our honest Yorkshire roots.
For more information about our UK manufactured, fibre bonded carpets, contact our expert team on 01924 406 161 or email [email protected]