ALBANY, N.Y., July 26, 2021 /PRNewswire/ -- The global carpet backing material market has witnessed slow but steady pace of innovations. However, in the recent years, market participants have been mainly focused on the development of more sustainable and greener carpet backing materials, which help improve the overall functionality of carpets. In order to obtain a competitive advantage, some firms in the present market environment are concentrating on growing their production capa3cities through product innovation and new investments. Technological advancements have played a significant role in enhancing the quality of final products, such as improving tuft bind and pattern definition.
Some of the most significant developments such as spunlaid polyester nonwovens, use of digital printing technology in the carpet industry combined with product promotional techniques techniques have emphasized on the significance of carpet components. This factor is likely to fuel the growth of the carpet backing material market during the forecast period. Furthermore, as carpet backing materials have an influence on the entire quality as well as performance of carpets, they play a critical role in influencing customer purchase preferences. There is a high demand for carpet backing materials from residential as well as commercial buildings. Thus, the global carpet backing material market is expected to reach around US$ 11 Bn by 2027, expanding at a CAGR of 5% during the forecast period.
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Key Findings of Market Report
- Manufacturers Experimenting with Materials to Launch Innovative Products
Technological innovations and developments are mostly focused on the creation of environment-friendly carpets. Several firms are increasingly concentrating on improving materials used in the making of carpet backings to provide sustainable goods. These materials are in high demand, since carpet backings are being highly utilized to improve carpet insulation, increase softness, and reduce noise. In the recent years, sustainability has remained a significant factor that is likely to impact the development of new carpet backings. Spunlaid polyester nonwovens have become a popular carpet backing material in the past few years due to their increased resilience. Furthermore, the introduction of sophisticated digital printing technology is predicted to drive the manufacturing of carpet backings, resulting in significant expansion of the carpet backing material market.
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- Rise in Demand for Carpets Due to Rapid Urbanization to Widen Market Reach
Due to increased urbanization and population explosion around the world, the building &construction sector is expected to grow considerably in the upcoming years, mostly driven changing lifestyle. Globally, rising population and economic expansion have resulted in augmented investment in infrastructure and housing development. Carpets possess characteristics such as attractive aesthetics, improved moisture resistance, minimal maintenance, and high wear resistance. As a result, the demand for carpets is likely to increase in the building & construction sector.
Carpet Backing Material Market: Growth Drivers
- The material science segment has advanced at break-neck speed in recent years, resulting in a surge in interest in novel carbon-negative carpet backing materials. The introduction of these substances is likely to increase the demand for carpet backing materials significantly.
- Considerable increase in the number of construction activities, notably in the Asia Pacific and the Middle East, is projected to add to the growth of the market in the forthcoming years
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Carpet Backing Material Market: Key Competitors
- Associated Weavers Europe NV/SA
- Shaw Industries Group, Inc.
- The Dow Chemical Company
- Continental Flooring Company
- Carpet &Rug Backing (CRB)
- Wacker Chemie AG
Carpet Backing Material Market: Segmentation
- Primary Backing
- Secondary Backing
- Bonding Agents
- Hand Woven Carpets
- Tufted Carpets
- Needle Felt Carpets
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