Market Trends of Turkey Floor Covering Industry
This section covers the major market trends shaping the Turkey Floor Covering Market according to our research experts:
Global Recognition and Demand for Turkish Carpets are Driving the Market
The Turkish carpet industry has a great recognition around the world. The superior quality that the carpets hold has made them one of the top producers and exporters and accounts for around a 15% market share in the carpet trade worldwide, ranking second, behind China. Turkey's carpet export trade increased staggeringly over a period. The exports accounted for nearly USD 10 billion over the past five years, of which, around USD 2.2 billion worth exports of carpets and other flooring materials were made during 2018. During 2014-2017, the value of carpet exports from Turkey dropped slightly, and later picked up in the mid of 2017.
Growing Construction Activities in the Middle Eastern Countries are Contributing to the Market Growth
According to the Turkey Exporters Assembly (TİM) Carpet Sector Council, the Middle Eastern countries are the main importers of the Turkish carpets. The United States is also one of the main importers and accounted for USD 282 million, followed by Saudi Arabia with USD 210 million, Germany with USD 57 million, and Iraq with USD 45 million during the first half of 2019. The United Kingdom, Egypt, the United Arab Emirates, Libya, Iran, Kuwait, Israel, and Belgium were also among the other important markets for the carpet industry.
