by The Middle East flooring and carpet market provides a variety of floorings like tiles, wood, laminates, vinyl sheets and carpets. Flooring and carpets plays a key role in enhancing the aesthetic appeal and functionality of residential and commercial spaces. Carpets offer benefits such as thermal insulation, sound absorption and cushioning. The vinyl sheets and laminate floors are easy to maintain and clean and come in diverse styles and designs.
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
The increasing new residential and commercial construction projects across Middle Eastern countries is fueling the demand for flooring and carpet solutions in the region. The key players are expanding their product portfolio and focusing on global expansion by entering into partnerships with local players to tap growth opportunities in the fast-growing Middle East Flooring and Carpet Market Size.
Key players operating in the Middle East flooring and carpet market 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.
Market drivers
One of the key drivers for the growth of Middle East flooring and carpet market is the increasing construction activities in the region. The governments of Middle Eastern countries are undertaking various infrastructure projects and introducing favorable policies to attract foreign investments which is positively impacting the growth of construction sector. Further, the growing population and rising disposable income are increasing the sales of premium and designer flooring and carpet products in residential as well as commercial applications. This is anticipated to continue driving the Middle East flooring and carpet market during the forecast period.
The current geopolitical tensions and conflicts in the Middle East are significantly impacting the growth of the Middle East Flooring and Carpet Market Size in the region. Political instability, security issues and economic uncertainty arising from conflicts have weakened consumer confidence and spending power. Construction activity has also slowed down as many projects get delayed or cancelled. This has reduced demand for flooring and carpet products that are primarily used in residential and commercial buildings. However, infrastructure development remains a key priority for governments to boost economic growth. Some nations are making targeted investments in large public works like transport networks, utilities and urban regeneration projects which provides opportunities for flooring and carpet suppliers. To sustain growth in this volatile environment, companies must diversify their supply chains, markets and manufacturing footprints across borders. They also need to build strong local partnerships and adapt product portfolios to cater to changing consumer preferences. Closer coordination with government agencies to support ‘Buy National’ campaigns can help offset risks from political risks. Overall, long term demand remains robust given the region’s rising population and urbanization. But future strategies will need to factor geopolitical stability and its impact on construction activities.
The flooring and carpet market in the Middle East is concentrated in GCC nations like Saudi Arabia, United Arab Emirates and Qatar where oil wealth has driven significant infrastructure and real estate development over the past decade. These nations account for over 60% of the total regional revenues. However, North African markets like Egypt and Morocco are emerging as fastest growing areas thanks to large population bases and government initiatives to boost tourism and FDI. Egypt in particular stands to gain from the new administrative capital project which is expected to triple the urban space of Cairo over the coming years. The tourism sectors in Morocco and Egypt also continue to expand rapidly driving demand for quality flooring and soft furnishings in hospitals.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
