The latest market report published by Credence Research, Inc. “Global Rubber Floor Tiles Market: Growth, Future Prospects, and Competitive Analysis, 2015 – 2027”. The market for rubber floor tiles is expected to grow from US$ 2,077.1 million in 2020 to US$ 2,851.2 million by 2027 with a CAGR of over 4.0% during the forecast period from 2021 to 2027.
Global Rubber Floor Tiles Market, 2020 – 2027 (USD Million)
Browse the full report at https://www.credenceresearch.com/report/rubber-floor-tiles-market
The market’s potential for growth is being fueled by the increasing availability of various types of rubber tiles as a result of organized retailer penetration. In the ever-expanding global retail industry, a wide range of retail outlets, such as hypermarkets, supermarkets, and specialized stores, are being introduced. Because busy lifestyles and work schedules make convenience and comfort more important to customers, large organized retail locations focus on carrying more types and brands of rubber floor tiles under one roof to provide consumers with more options. Rubber floor tiles are also available in home furnishing specialty stores. The importance of organized businesses offering branded rubber items and other home furnishing products has grown as client brand awareness has increased. Customers can learn about different brands and compare the prices, quality, and design of various items thanks to organized retailing. As a result, the expansion of organized retailing is expected to have a positive impact on the rubber floor tile market in the coming years.
Furthermore, the production of rubber tiles is an extremely energy-intensive process; significant cost-related difficulties affecting the sector include power, gas, and transportation prices. Power and fuel must be available at reasonable prices on a consistent basis for the rubber tile industry to grow. Volatile and unstable markets have significant negative consequences, which are felt primarily by industrial businesses.
Commercial end-use is expected to account for the majority of the market throughout the forecast period.
The commercial end-use category generated the most revenue in 2020. The market is expected to be driven by rising demand for exceptionally durable and cost-effective rubber floor tiles for use in high-traffic commercial and industrial sectors over the forecast period. The commercial flooring rubber floor tiles market has been greatly boosted by the development of novel products and simple installation techniques. As a result of its improved qualities, rubber flooring is becoming a cost-effective and environmentally friendly solution in a variety of industries, including healthcare and institutional facilities. Over the forecast period, the residential end-use category is expected to grow at the fastest CAGR. Because of its luxury and scratch resistance, the rising housing sector in emerging nations such as India is expected to stimulate demand for the product.
During the forecast period, Asia Pacific is expected to have the largest share of the ceramic tile market.
Because of the region’s rapid socioeconomic development, Asia Pacific is the most appealing market for rubber floor tiles. Rubber tile materials are in high demand in this region due to an increase in the number of new housing units and massive infrastructure spending. The increase in demand for rubber floor tiles in countries as a result of the significant increase in construction possibilities in Asia Pacific countries is also driving the growth of the ceramic tiles market in the Asia Pacific region.
Global Rubber Floor Tiles Market Key Players:
Some of the key players are Altro USA, Inc., Gerflor, LX Hausys, Mannington Mills Inc., Mohawk Carpet Corporation, Mondo, Nora systems, Inc., Polyflor Ltd and Tarkett S.A.
Global Rubber Floor Tiles Market by Construction Type, 2015 – 2027
- New Construction
- Replacement and Renovation
Global Rubber Floor Tiles Market by Product Type, 2015 – 2027
- Interlock Rubber Floor Tiles
- Non-Interlock Rubber Floor Tiles
Global Rubber Floor Tiles Market by End-users, 2015 – 2027
Global Rubber Floor Tiles Market by Company
- Altro USA, Inc.
- LX Hausys
- Mannington Mills Inc.
- Mohawk Carpet Corporation
- Nora systems, Inc.
- Polyflor Ltd
- Tarkett S.A.