At 5.2% CAGR, the Asia Pacific Area Rugs Market is projected to be worth US$ 4,657.66 million by 2028, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific area rugs market was valued at US$ 3,610.69 million in 2023 and is expected to reach US$ 4,657.66 million by 2028, registering a CAGR of 5.2% from 2023 to 2028. Strong growth of residential construction sector and increasing use of area rugs in interior designs are the critical factors attributed to the Asia Pacific area rugs market expansion.        

Nowadays, factors such as increasing urbanization, rising disposable income, and changing lifestyle preferences of consumers have resulted in consumers investing a high amount in home decor and furnishings to enhance the aesthetics of homes. This has also resulted in increasing demand for area rugs to decorate interior spaces. Area rugs are one of the highly used home accessories in interior design projects. Area rug gives a stylish look and effortlessly transforms a room. Area rugs also have a unique demeanor of bringing together all of the decorative elements. There are various advantages of area rugs, such as protection of the floor from damage, noise reduction, comfort, easier to clean, enhances decor and brightens rooms. Modern area rugs are blended with prints, photos, and graphics to showcase furniture and complement the look of a room. Adding an area rug to the living room effortlessly changes the appearance of the room and anchors furniture. Area rugs with pads under the rugs offer a more efficient and affordable option to warm up the home. Area rugs are warmer than hard floors and have a higher insulating value as they trap warmth and make space cozier. Area rugs are available in different shapes, textures, designs, sizes and colors, and they can be custom-made to meet the specifications of the user. All these advantages of area rugs are driving their use in interior designs. In addition, the growth in home renovation and remodeling activities is also driving the demand for area rugs. Further, there is also a high use of area rugs in interior designs in hotels and commercial buildings. Therefore, the increasing use of area rugs in interior designs is mainly driving the Asia Pacific area rugs market growth.

On the contrary, availability of substitute products hampers the Asia Pacific Area Rugs Market.  

Based on type, the Asia Pacific area rugs market is segmented into wool, nylon, synthetic fibers, and others. The synthetic fibers segment held 52.6% share of Asia Pacific Area Rugs Market in 2023, amassing US$ 1,897.84 million. It is projected to garner US$ 2,499.15 million by 2028 to expand at 5.7% CAGR during 2023–2028. 

Based on end-use, the Asia Pacific area rugs market is segmented into residential and nonresidential. The nonresidential segment held 69.2% share of Asia Pacific Area Rugs Market in 2023, amassing US$ 2,500.44 million. It is projected to garner US$ 3,238.93 million by 2028 to expand at 5.3% CAGR during 2023–2028.

Based on country, the Asia Pacific area rugs market has been categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 41.0% share of Asia Pacific Area Rugs Market in 2023. It was assessed at US$ 1,479.78 million in 2023 and is likely to hit US$ 1,897.93 million by 2028, exhibiting a CAGR of 5.1% during 2023–2028.      

Key players operating in the Asia Pacific area rugs market are Amer Rugs Inc, Faze Three Ltd, Golden Carpets Ltd, Maa Collections, Nodi Handmade Rugs Ltd, Riviere Rugs Ltd, and Riztex USA Inc, among others.  

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