June 16, 2024
Middle East Flooring and Carpet Market

The Middle East Flooring and Carpet Market is Estimated to Witness High Growth Owing to Rising Adoption of Green Building Technologies

The Middle East flooring and carpet market comprises a wide variety of flooring types including resilient flooring, non-resilient flooring, and carpets and rugs. Flooring plays a vital role in furnishing commercial and residential spaces as it enhances aesthetic appeal, provides comfort, and improves durability. Flooring products offer advantages such as floor protection, acoustic performance, thermal insulation, easy maintenance, longevity, and slip resistance. The growing construction industry in the region along with rising expenditure on home improvement and renovation projects is driving the demand for various types of flooring solutions.

Middle East flooring and carpet market is estimated to be valued at US$ 10.29 Bn in 2024 and is expected to exhibit a CAGR of 34% over the forecast period 2024 To 2031.

Key Takeaways

Key players operating in the Middle East Flooring and Carpet Market Demand are AliveCor Inc., Altoida Inc., Amgen Inc., Human API, Fitbit, Inc., Biogen Inc, Bayer AG, Akili Interactive Labs, Evidation Health, Inc., GlaxoSmithKline Plc, and Eli Lilly and Company, among others. The key players are focusing on adopting green building technologies and innovation to provide eco-friendly flooring solutions.

The market is expected to witness significant growth opportunities due to the rising adoption of green building technologies in line with the sustainability goals of various Middle Eastern countries. Consumer preference for carbon-neutral and recycled flooring materials is expected to drive demand.

Technological advancements such as the development of smart floors integrated with advanced sensing capabilities are expected to boost the market growth. flooring manufacturers are investing in R&D to develop eco-friendly flooring materials with self-cleaning, anti-microbial, and longer lifespan.

Market drivers

The robust growth of the construction sector across countries such as UAE, Saudi Arabia, and Qatar is the prime driver of the Middle East flooring and carpet market. According to research, the Middle eastern construction industry is expected to grow at a CAGR of 6.6% during 2020-2025. The rising infrastructure development projects including commercial buildings, malls, hotels, hospitals are stimulating the demand for various types of flooring. Furthermore, the growing population, urbanization, and rising disposable income are increasing consumer spending on home renovation and decoration, thereby propelling the flooring market in the region.

Current challenges in Middle East Flooring and Carpet Market

The Middle East Flooring and Carpet Market Demand faces challenges related to availability of raw materials, high costs, and preference of customers towards other flooring solutions like tiles, wood etc. The raw materials like wool, nylon, cotton etc are mostly imported which increases production costs. Moreover, maintenance of carpets is difficult in hot weather conditions of Middle East countries. This has led customers to shift towards other easy to maintain flooring options. However, the market players are focusing on advanced technologies and new product designs to overcome these challenges.

SWOT Analysis

Strength: The Middle East region has high disposable income and infrastructure development which drives the demand for flooring and carpets.

Weakness: Dependence on imports of raw materials increases production costs.

Opportunity: Growing construction activities in GCC countries offers new construction projects for flooring suppliers.

Threats: Competition from substitute flooring materials like tiles, wood etc. Changing customer preferences towards low maintenance options.

Geographical regions of value concentration

Around 60% of the total market value is concentrated in Gulf Cooperation Council (GCC) countries like Saudi Arabia, UAE, Kuwait, Oman and Qatar. This is due to major infrastructure and construction activities taking place in these oil rich nations.

Fastest growing region

Turkey is expected to be the fastest growing region during the forecast period. It is a major exporter and producer of carpets to Middle Eastern markets. Investments in new production facilities and technology by Turkish manufacturers will aid its market growth.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it