Industry Analysis & Industry Trends
Laying it all out
The industry has been adversely impacted by the declining residential and commercial construction sectors. Although building is expected to pick up, the industry will remain at its mercy. Firms that take the initiative to develop new and innovative products, merge with or acquire other firms, improve production processes, enhance supply links, introduce expanded product mixes and develop export and niche markets will be in a strong position to achieve solid growth in the future... purchase to read more
Industry Report - Starting a New Business Chapter
IBISWorld analysis of industry barriers to entry shows new firms have difficulty establishing their product in the marketplace due to a relatively high number of competitors promoting their products. This high number of operators makes it hard for small carpet and rug mills to obtain accounts from downstream manufacturers.
Also, a significant financial outlay is required to purchase plant and equipment necessary to produce the industry's products, and it is costly to develop and test new products. There are high advertising costs associated with promoting new products because well-established existing products may already have the loyalty of carpet brands and retailers... purchase to read more