CA Carpet Recycling Declined in Q4, '24 Rate Expected to be 38%

Dalton, GA, April 23, 2025-CARE has shared the following highlights of the California Carpet Stewardship Program in Q4 2024:

• The fourth quarter saw a seasonal decrease in both gross collections and recycled output. The overall 2024 recycling rate will be nominally 38% and well ahead of our 34% target for 2024. Full year results are being compiled.
• 2024 markets remained challenging. New tariffs, the future of which is unclear, could have a very negative impact on the US auto sector, a key outlet market for post-consumer carpet.
• Consumer sentiment has dropped to the lowest level since the pandemic.
• Sales in Q4 were 12.3 million square yards, below budget and setting a new low for sales.
• Overall, 74% of total expenses were paid out in the form of subsides, and 77% of all those subsidies were paid to California recyclers.
• Revenue exceeded expenses, and the fund balance ended the quarter at $7 million, up by $5 million (+230%) versus Q4 2023. However, there is a steep mountain to climb to reach the goal of about $20 million by the end of 2025.