Tufted Textile Fabric Market

The global tufted textile fabric market is forecasted to experience growth in consumption over the next eight years, with a CAGR of +8.0%. Despite a decrease in consumption in 2022, the market is expected to rebound and reach 120M square meters in volume and $181M in value by 2030. Japan leads in both consumption and production, while China dominates in exports. The average tufted textile fabric import price grew by 22% in 2022, and global exports saw a notable decline in volume and value.

Market Forecast

Driven by rising demand for tufted textile fabric worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +8.0% for the period from 2022 to 2030, which is projected to bring the market volume to 120M square meters by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +8.2% for the period from 2022 to 2030, which is projected to bring the market value to $181M (in nominal prices) by the end of 2030.

Consumption

World Consumption of Tufted Textile Fabrics

After two years of growth, consumption of tufted textile fabrics decreased by -34% to 65M square meters in 2022. In general, consumption recorded a relatively flat trend pattern. Over the period under review, global consumption attained the peak volume at 98M square meters in 2021, and then reduced markedly in the following year.

The global tufted textile fabric market revenue contracted markedly to $97M in 2022, which is down by -19.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a noticeable curtailment. Over the period under review, the global market hit record highs at $152M in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Consumption By Country

Japan (32M square meters) constituted the country with the largest volume of tufted textile fabric consumption, comprising approx. 49% of total volume. Moreover, tufted textile fabric consumption in Japan exceeded the figures recorded by the second-largest consumer, China (6.7M square meters), fivefold. The United States (2.9M square meters) ranked third in terms of total consumption with a 4.5% share.

From 2012 to 2022, the average annual growth rate of volume in Japan stood at +12.1%. The remaining consuming countries recorded the following average annual rates of consumption growth: China (+0.2% per year) and the United States (-4.6% per year).

In value terms, Japan ($29M) led the market, alone. The second position in the ranking was held by the United States ($9.6M). It was followed by China.

From 2012 to 2022, the average annual rate of growth in terms of value in Japan totaled +7.3%. The remaining consuming countries recorded the following average annual rates of market growth: the United States (-3.3% per year) and China (-1.4% per year).

In 2022, the highest levels of tufted textile fabric per capita consumption was registered in Japan (253 square meters per 1000 persons), followed by the Netherlands (67 square meters per 1000 persons), Nepal (41 square meters per 1000 persons) and the United States (8.6 square meters per 1000 persons), while the world average per capita consumption of tufted textile fabric was estimated at 0.1 square meters per 1000 persons.

From 2012 to 2022, the average annual rate of growth in terms of the tufted textile fabric per capita consumption in Japan amounted to +12.3%. In the other countries, the average annual rates were as follows: the Netherlands (+6.4% per year) and Nepal (+31.2% per year).

Production

World Production of Tufted Textile Fabrics

Global tufted textile fabric production shrank to 36M square meters in 2022, declining by -5.6% compared with the previous year's figure. Overall, production continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2021 with an increase of 13%. Global production peaked at 60M square meters in 2012; however, from 2013 to 2022, production remained at a lower figure.

In value terms, tufted textile fabric production reduced to $64M in 2022 estimated in export price. Over the period under review, production recorded a abrupt setback. The growth pace was the most rapid in 2021 when the production volume increased by 6.7%. Over the period under review, global production hit record highs at $115M in 2013; however, from 2014 to 2022, production failed to regain momentum.

Production By Country

China (16M square meters) constituted the country with the largest volume of tufted textile fabric production, accounting for 46% of total volume. Moreover, tufted textile fabric production in China exceeded the figures recorded by the second-largest producer, the United States (2.7M square meters), sixfold. India (2.3M square meters) ranked third in terms of total production with a 6.5% share.

From 2012 to 2022, the average annual growth rate of volume in China stood at -4.2%. The remaining producing countries recorded the following average annual rates of production growth: the United States (-5.4% per year) and India (+8.5% per year).

Imports

World Imports of Tufted Textile Fabrics

In 2022, supplies from abroad of tufted textile fabrics decreased by -43.5% to 43M square meters for the first time since 2019, thus ending a two-year rising trend. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 40% against the previous year. Global imports peaked at 77M square meters in 2021, and then fell remarkably in the following year.

In value terms, tufted textile fabric imports fell significantly to $59M in 2022. Over the period under review, imports showed a mild descent. The growth pace was the most rapid in 2017 when imports increased by 37%. Over the period under review, global imports hit record highs at $89M in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports By Country

Japan prevails in imports structure, recording 32M square meters, which was near 74% of total imports in 2022. Nepal (1,238K square meters), Cambodia (917K square meters), the UK (870K square meters), China (737K square meters) and Cuba (716K square meters) held a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to tufted textile fabric imports into Japan stood at +9.8%. At the same time, Nepal (+42.0%), Cambodia (+38.7%), Cuba (+27.2%) and the UK (+19.1%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in the world, with a CAGR of +42.0% from 2012-2022. By contrast, China (-6.9%) illustrated a downward trend over the same period. Japan (+43 p.p.), Nepal (+2.8 p.p.), Cambodia (+2 p.p.) and the UK (+1.6 p.p.) significantly strengthened its position in terms of the global imports, while China saw its share reduced by -2.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($28M) constitutes the largest market for imported tufted textile fabrics worldwide, comprising 48% of global imports. The second position in the ranking was taken by China ($9.1M), with a 15% share of global imports. It was followed by Nepal, with a 5.5% share.

In Japan, tufted textile fabric imports expanded at an average annual rate of +4.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (+0.1% per year) and Nepal (+50.3% per year).

Import Prices By Country

In 2022, the average tufted textile fabric import price amounted to $1.4 per square meter, growing by 22% against the previous year. Overall, the import price, however, recorded a noticeable decrease. Global import price peaked at $1.8 per square meter in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($12 per square meter), while Cambodia ($0.6 per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.6%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Tufted Textile Fabrics

In 2022, global exports of tufted textile fabrics contracted to 15M square meters, declining by -13.2% against the previous year. In general, exports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2021 when exports increased by 9.5%. Over the period under review, the global exports reached the maximum at 36M square meters in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, tufted textile fabric exports contracted to $26M in 2022. Over the period under review, exports saw a abrupt slump. The pace of growth was the most pronounced in 2021 with an increase of 28% against the previous year. The global exports peaked at $63M in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports By Country

China prevails in exports structure, amounting to 10M square meters, which was approx. 70% of total exports in 2022. It was distantly followed by Thailand (1,016K square meters) and Belgium (880K square meters), together generating a 13% share of total exports. Turkey (410K square meters), Japan (401K square meters), the Netherlands (319K square meters) and the United States (318K square meters) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to tufted textile fabric exports from China stood at -6.4%. At the same time, Turkey (+28.2%), Thailand (+26.7%), the United States (+8.9%) and Belgium (+1.8%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the world, with a CAGR of +28.2% from 2012-2022. By contrast, Japan (-16.6%) and the Netherlands (-18.9%) illustrated a downward trend over the same period. While the share of China (+14 p.p.), Thailand (+6.6 p.p.), Belgium (+3.8 p.p.), Turkey (+2.7 p.p.) and the United States (+1.8 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Japan (-4.2 p.p.) and the Netherlands (-5.1 p.p.) displayed negative dynamics.

In value terms, China ($16M) remains the largest tufted textile fabric supplier worldwide, comprising 60% of global exports. The second position in the ranking was taken by the United States ($1.8M), with a 7% share of global exports. It was followed by Thailand, with a 5.7% share.

In China, tufted textile fabric exports declined by an average annual rate of -7.1% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United States (+13.3% per year) and Thailand (+21.5% per year).

Export Prices By Country

In 2022, the average tufted textile fabric export price amounted to $1.8 per square meter, increasing by 6% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 17% against the previous year. Over the period under review, the average export prices reached the maximum at $1.8 per square meter in 2013; afterwards, it flattened through to 2022.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($5.8 per square meter), while Turkey ($1.3 per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform