The
Middle East flooring and carpet market comprises different floor types
including tiles, wood, vinyl sheets, laminates, and area rugs that provide
durability, aesthetics, comfort, and easy maintenance for indoor and outdoor
applications in residential as well as commercial settings. The increasing
preference for aesthetically pleasing and durable flooring options is driving
the demand in the region.
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 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 demand for
Middle
East Flooring and Carpet Market Size has increased manifold in the
Middle East region owing to rapid urbanization, growth of housing and
hospitality sectors. The key players are expanding their product portfolios and
focusing on new product development along with enhancing their distribution
networks in different Middle Eastern countries to capitalize on the market
opportunities. The growing construction activities for commercial and
residential buildings coupled with rising disposable income are fueling the
growth of flooring and carpet market in the Middle East region.
Market key trends
One of the major trend gaining traction in the Middle East flooring and
carpet market is the increased adoption of bio-based materials. Several
manufacturers are using materials like coir, sisal, seagrass made from
renewable agricultural byproducts to develop eco-friendly flooring solutions.
The bio-based flooring products provide comparable performance attributes to
traditional petroleum-based products and help lower carbon footprint. This
trend is driven by the rising environmental awareness and strict regulations
regarding use of plastics and synthetic materials in the construction industry.
Porter’s Analysis
Threat of new entrants: High initial
investments and established brand loyalty of existing players make entry
difficult for new players.
Bargaining power of buyers:
Buyers have moderate bargaining power due to availability of substitute
products.
Bargaining power of suppliers: Suppliers have moderate bargaining power owing to availability of
substitute raw materials.
Threat of new substitutes:
Substitute products like laminates and wood flooring pose moderate threat.
Competitive rivalry:
Intense competition among existing players.
Geographical Regions
The Middle East flooring and carpet market in terms of value is concentrated in
UAE and Saudi Arabia. UAE dominates the market owing to large residential and
commercial infrastructure and growing tourism industry.
Iran is emerging as the fastest growing regional market due to rising
construction spending driven by economic reforms and recovery from sanctions.
Increasing urbanization and improved standards of living are boosting demand
for modern flooring solutions in Iran.
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East Flooring and Carpet Market
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