In 2023, the import value of felt carpets and floor coverings to Singapore stood at $9.164 million US Dollars. From 2024 to 2028, the forecasted import values reveal a consistent downward trend. Specifically, the import value is expected to decrease from $8.647 million in 2024 to $6.798 million in 2028. Year-on-year, the import value is projected to decline by approximately 5.5% in 2025, 5.7% in 2026, 5.9% in 2027, and 6.2% in 2028. Over the five-year period, the Compound Annual Growth Rate (CAGR) is calculated to be around -5.9%.
Future trends to watch for include potential shifts in consumer preferences towards sustainable and alternative flooring options, fluctuations in international trade policies, and advancements in manufacturing technologies that could impact both supply and demand dynamics in the felt carpet and floor coverings market.
