The Middle East Flooring And Carpet Market Is Estimated To Witness High Growth Owing To Rapid Urbanization
Middle East flooring and carpet market The Middle East flooring and carpet market is estimated to be valued at US$ 8.93 Bn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: The Middle East flooring and carpet market consists of products like carpets, rugs, tiles, and wood that are used for a variety of indoor and outdoor applications. Carpets are most commonly used flooring products that provide warmth, luxury, and noise reduction. They are widely used in residential as well as commercial spaces like hotels, offices, restaurants etc. Market Dynamics: Rapid urbanization in the Middle East region is the major driver of the market. According to the United Nations, around 80% of the Middle East population will be living in urban areas by 2050. This rapid urban migration is increasing the demand for residential and commercial infrastructure development which is...