Wilmington, Delaware, United States, May 11, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The global rubber flooring market stood at US$ 42.3 Mn in 2022 and the global market is anticipated to reach US$ 77.1 Mn by 2031 at a CAGR of 6.9% between 2023 and 2031.
Growing environmental consciousness and market demand for more environmentally-friendly flooring materials are accelerating global rubber flooring market. Rise in construction activities across the world is expected to offer attractive opportunities for rubber flooring makers.
The antibacterial, slip-resistant, and low maintenance features of these floors are expected to drive market demand of rubber flooring. Hygiene and cleanliness are given priority in public places such as airports, schools, and hospitals, which is likely to increase market demand. Rubber flooring producers rely on creating extremely effective and cutting-edge products in order to increase sales.
Businesses are putting a lot of effort into product development, innovation, and strategic alliances to stay competitive. However, availability of several flooring materials, including plastic and wood, is likely to hamper industry growth in the next few years.
Tensile strength, resistance to slippage, and ease of maintenance have made rubber flooring an attractive solution for residential, commercial, and industrial applications. The three main varieties of rubber flooring are recycled rubber flooring, synthetic rubber flooring, and styrene-butadiene rubber flooring,
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Key Findings of Market Report
- Low-maintenance and hard-wearing flooring solutions that can handle heavy foot traffic are required in commercial settings such as public buildings, retail establishments, and offices, restaurants and hotels. Rubber flooring is one option that satisfies these requirements. Additionally, it is durable, cost-effective, and ecologically friendly. Rubber flooring is a slip-resistant and sound-absorbing material that makes it a secured and relaxing option for workers, customers, and visitors in commercial settings. Given that it comes in a range of hues and designs, it offers architects and designers a versatile flooring solution.
Global Rubber Flooring Market: Growth Drivers
- Global shift toward sustainability is a major factor bolstering the rubber flooring industry. As more people become environmentally concerned, there is a growing need for strong and lasting flooring goods across the world. Customers are seeking products that have less impact on the environment. Rubber flooring lessens waste and aids in the preservation of natural resources. It is becoming more popular, as it is constructed of recycled materials, the need for frequent replacements is further diminished by the extended lifespan of rubber flooring. Consequently, it has a wide range of applications in the building industry.
- Demand for rubber flooring is anticipated to be driven by expansion in the construction industry, particularly in developing countries. Flooring that is long-lasting and low-maintenance is usually used in construction. Rubber flooring products are becoming more popular, as these have minimal detrimental impact on the environment. Tire rubber and other recyclable resources are used to make rubber flooring. This lessens waste and aids in resource conservation, which is anticipated to propel the global industry.
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Global Rubber Flooring Market: Regional Landscape
- The market in Asia Pacific is anticipated to be driven by increase in consumer demand for sustainable and ecologically-friendly rubber flooring products. Rubber flooring is mostly produced in India, Australia, Japan, and China in the Asia Pacific region.
Global Rubber Flooring Market: Key Players
- American Biltrite, Inc.
- Roppe Corporation
- Artigo S.p.A.
- Mondo S.p.A.
- Gerflor Group
- Mats, Inc.
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Global Rubber Flooring Market: Segmentation
By Type
- Recycled Rubber Flooring
- Synthetic Rubber Flooring
- Styrene-butadiene Rubber Flooring
- Others
End-use
- Commercial
- Industrial
- Residential
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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