The production of carpets and rugs in South Korea saw fluctuations between 2014 and 2022, with notable highs in 2015 (84.59B KRW) and lows in 2020 (63.13B KRW). From 2021 to 2024, there's a consistent decline, with the value expected to drop to 71.8B KRW in 2024. The average Compound Annual Growth Rate (CAGR) from 2023-2028 is forecasted at -1.21%, indicating a steady decline.
Variation Analysis
- 2021: 18.79% increase YoY
- 2022: -1.39% decrease YoY
- 2023: -1.38% decrease YoY
Future trends to watch include potential impacts of economic recovery, shifts in consumer preferences towards eco-friendly materials, and technological advances in production processes. Monitoring these factors is crucial for anticipating further market changes.
