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RELEASED: MARCH 2010
After researching the UK carpets market development and taking into account various other factors the following conclusions can be drawn from MBD's report:
MARKET REVIEW 2005-2009:
In 2009, the UK market for carpets declined by an estimated 10% to £1.17 billion, consolidating the 5% decline recorded in 2008. This is largely a reflection of the adverse economic climate and reduced construction output, in particular in the residential and office sector. The tighter lending criteria imposed by banks and reduced disposable income and consumer confidence also exerted a downward pressure on the carpets market during the latter part of the review period. Prior to that, growth of 6% and 1% was recorded in 2006 and 2007 respectively. Overall, the market contracted by a cumulative 8% between 2005 and 2009. Despite increased competition from alternative flooring, most notably laminate and engineered wood flooring, carpet continued to account for around 60% of the total UK floorcoverings market during the review period.
MARKET FORECAST 2010-2014:
In 2010, the UK carpets market is anticipated to decline in real terms by a marginal amount, reflecting the continued economic uncertainties and slow recovery anticipated in the housing market as well as in new construction output. Carpets also continue to face the threat of substitution by smooth floorcoverings, which has become increasingly popular in recent years. Nonetheless, MBD expect economic conditions to start to improve in 2011. Indeed the UK market for carpets is anticipated to increase moderately in real terms year-on-year between 2011 and 2014, with annual growth levels projected to fluctuate between 1% and 4% in real terms. Overall MBD expects the UK market for carpets to increase by 6% in real terms compared with 2009, to £1247.8 million in the latter year.
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MBD specialises in business to business market research. The range of reports and industries in which we operate in constantly expanding (our portfolio comprises of more that 140 titles). All our reports are written by in-house market consultants.
Click here for full details of the UK Carpets Market Research Report
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