In 2023, Singapore imported tufted carpets and floor coverings valued at approximately 24.659 million USD. From 2024 to 2028, the forecasted figures show a slight but consistent decline, from 24.596 million USD in 2024 to 24.346 million USD by 2028. This represents a marginal year-on-year decrease of around 0.26% to 0.29%. Over the last two years, there’s been a steady downward trend, while the compounded average growth rate (CAGR) over the next five years suggests a subtle average annual reduction.
Future trends to watch include possible shifts in market demand due to changes in consumer preferences for sustainable and eco-friendly flooring options. This could impact the import volume and value of synthetic tufted carpets. Additionally, fluctuations in raw material prices and potential trade policy changes may affect this sector.
