Allied Analytics LLP
The rubber flooring market witnessed significant growth during the forecast period. This can be attributed to increased demand from various end-use industries including commercial, residential, sports and healthcare sectors.
WILMINGTON, Del., Oct. 08, 2024 (Globe Newswire) — Allied Market Research analyzes the market for rubber by type (natural and synthetic rubber) and distribution channel (direct sales, distributors and wholesalers, retailers). We have published a report titled “Flooring Materials Market”. and Online Retail Platforms), and Applications (Commercial, Residential, Industrial): Global Opportunity Analysis and Industry Forecast, 2024-2032.” According to the report, the rubber flooring market was valued at $1.1 billion in 2023 and is estimated to reach $1.6 billion by 2032, growing at a CAGR of 4.3% from 2024 to 2032. .
Key determinants of growth
Additionally, increasing awareness about the benefits of rubber flooring such as durability, safety, and sustainability is driving the market growth. Additionally, the rubber flooring industry has experienced significant expansion due to technological advances, resulting in innovative rubber flooring options with enhanced functionality. Additionally, the implementation of strict regulations encouraging the use of environmentally friendly materials, economic progress, urbanization, and diverse infrastructure contributed to this growth.
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Report scope and details:
Report scope
detail
Forecast period
2024-2032
base year
2023
Market size in 2023
$1.1 billion
Market size in 2032
$1.6 billion
CAGR
4.3%
Number of pages in the report
220
Target segment
Type, distribution channel, application, and region
driver
Increasing demand for sustainable recycled materials Development of electric and hybrid vehicles Growing awareness and demand for environmentally friendly materials.
opportunity
Growing interest in residential rubber flooring Opportunity to offer highly customized and aesthetically appealing products
restraints
Initial cost is high
Synthetic rubber segment is expected to maintain its leading position throughout the forecast period
Based on type, the synthetic rubber segment dominated the Rubber Flooring Market in 2023, capturing the majority of the market share. Owing to its versatility, durability, and cost-effectiveness, it is expected to continue leading the market throughout the forecast period. Synthetic rubber has consistent quality and customizable properties to meet diverse application needs across industries. Their high resistance to abrasion, chemicals and environmental factors makes them ideal for a variety of demanding environments. Additionally, advances in synthetic rubber manufacturing technology have improved its performance properties, driving its adoption and solidifying its position as the dominant choice in the rubber flooring market.
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The distributors and wholesalers segment held the highest market share in 2023.
By distribution channel, distributors and wholesalers dominated the global rubber flooring market by 2023, capturing more than a quarter of the market share. The company’s significant market presence is due to its extensive network and efficient ability to meet the diverse requirements of its customers. These channels offer a diverse range of products, making rubber flooring solutions easily accessible to contractors, retailers, and end users. Value-added services such as bulk purchasing options, inventory management, and logistics support increase customer satisfaction and loyalty and strengthen our advantage in the rubber flooring market.
Commercial segment is expected to grow at the fastest CAGR during the forecast period
By application, the commercial sector dominated the global rubber flooring market, capturing half of the market share in 2023. The commercial sector holds the highest market share in the rubber flooring market due to high foot traffic and the demand for durable and resilient flooring. Rubber flooring’s safety features, ease of maintenance, and aesthetic versatility make it ideal for offices, retail spaces, and hospitality industries. Their durability and low maintenance make them cost-effective over time, making them even more popular in commercial environments.
North America will have the highest market share in terms of revenue in 2023
Regionally, North America held the highest market share in terms of revenue in 2023, accounting for more than two-fifths of the rubber flooring market share. The region’s robust construction industry, strict safety regulations, and increasing adoption of sustainable building materials contributed to its market dominance. Additionally, the proliferation of trends in renovation and remodeling projects in the commercial and residential sectors has increased the demand for rubber flooring solutions. Additionally, North America’s strong and stable economy, technological advancements, and changing consumer preferences have contributed to establishing the region as a leader in the rubber flooring market.
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Key market players: –
This report offers an in-depth analysis of key companies operating in the global Rubber Flooring Market. These players are adopting various strategies such as product launches, acquisitions, agreements and partnerships to increase their market share and maintain a dominant share in different regions. The report helps to introduce the competitive scenario by highlighting business performance, business segments, product portfolio, and strategic moves of market players.
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About us:
Allied Market Research (AMR) is the full-service market research and business consulting division of Allied Analytics LLP, based in Wilmington, Delaware. Allied Market Research provides unparalleled quality of market research reports and business intelligence solutions to global corporations and small businesses. Allied Market Research has a focused perspective providing business insights and consulting to help clients make strategic business decisions and achieve sustainable growth in their respective market areas. I am.
We have professional corporate relationships with a variety of companies. It helps in mining market data which helps generate accurate research data tables and check the best accuracy of market predictions. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality data and help clients succeed in every way possible. All data presented in the reports we publish are extracted through primary interviews with top executives from leading companies in the sector. Our secondary data sourcing methodology includes in-depth online and offline research and discussions with knowledgeable industry experts and analysts.
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