by 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 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 demand for flooring and carpets 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.
The Middle East Flooring and Carpet Market Demand 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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
