|
RELEASED: OCTOBER 2008
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 2003-2007:
In 2007, the UK market for carpets increased by a moderate 1% in nominal terms, consolidating stronger growth of 6% recorded in the previous year. In 2007, the value of the market reached a review period high of an estimated £1356.9 million. During the five year review period, the market fluctuated moderately, with declines of 1% and 2% recorded in 2003 and 2005 respectively.
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. Although trading conditions remain tough and carpets have come under increased pressure from alternative materials some growth opportunities continue to exist in the market. However, the current economic downturn, and in particular the downturn in new housebuilding output combined with the trend towards laminate and wood flooring, this is expected to further exert downward pressure on the market.
MARKET FORECAST 2008-2012:
The UK carpets market is anticipated to decline in real terms by a significant 9% in 2008 and 4% in 2009. This is mainly a reflection of the current economic downturn, the slowdown 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. However the current downturn in the housing market, combined with the uncertain economic conditions, and the banks’ tighter lending criteria, may also generate some demand for carpets, as more people are likely to invest in home improvement instead of moving houses.
The current economic downturn is predicted to last at least 18 months, although the impact of the downturn could potentially be felt for longer in the construction industry, and therefore the carpet market. However UK construction output is expected to return to growth in the medium turn, albeit at moderate levels, providing a positive impetus for UK carpets demand. indeed, between 2009 and 2012, UK apparent consumption is forecast to increase by 3% in real terms between 2009 and 2012
NOTE TO EDITORS:
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
MBD WELCOMES PRESS ENQUIRIES:
Press releases on the latest MBD market research reports can be sent to editors and journalists involved in trade magazines.
Full press releases are available, please email your request, along with the magazine title you are writing for, to pressoffice@mbdltd.co.uk.
|
