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Stair Nosing Market to Surpass US$ 2 Billion by 2031 Driven by Growing Construction Industry

Stair Nosing Market to Surpass US$ 2 Billion by 2031 Driven by Growing Construction Industry

Stair nosings are non-slip strips that are installed on the leading edges of stair treads to prevent slips and falls. Increasing construction of residential and commercial spaces along with rising safety regulations globally drive the demand for stair nosings.

The global stair nosing market is estimated to be valued at US$ 1.26 billion in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period from 2024 to 2031

Key Takeaways

Key players operating in the stair nosing market are Sartorius, Merck KGaA, Thermo Fisher Scientific Inc., GENERAL ELECTRIC, Danaher Corporation. Key players are focusing on developing lightweight, non-slip and durable stair nosings through innovations to increase their market share.

The global construction industry has witnessed steady growth over the past few years on account of rapid urbanization and increasing investments in infrastructure development projects. This growth of the construction industry has resulted in higher demand for Stair Nosings Market Growth.

Technological advancements such as use of durable thermoplastics elastomers and linear slip-resistant surfaces in stair nosings have improved product quality and safety. 3D printing technology is also being used to manufacture customized stair nosings.

Market Trends

Increasing adoption of recycled thermoplastics - Leading companies are focusing on incorporating recycled thermoplastics such as recycled polyvinyl chloride (PVC) to manufacture stair nosings. This is expected to drive sustainable construction.

Growth of e-commerce platforms - Online platforms for architectural and construction supplies have increased the ease of purchasing products including stair nosings. This has positively impacted the sales and market reach of stair nosing manufacturers.

Market Opportunities

Rising infrastructure spending in developing countries - Countries in Asia Pacific and Middle East are expected to invest heavily in infrastructure development over the coming years. This presents an opportunity for stair nosing providers to tap into construction booms in these regions.

Demand for innovative product features - Manufacturers can focus on developing intelligent stair nosings integrated with sensors and lighting systems. There is also scope for designing customizable and modular stair nosings made of novel materials.

Impact of COVID-19 on Stair Nosing Market Growth

The COVID-19 pandemic adversely impacted the growth of stair nosing market globally. Nationwide lockdowns and supply chain disruptions negatively affected the construction industry which is a major end-user of stair nosing. As construction sites were shut down during lockdowns, demand and supply of stair nosing reduced drastically. Manufacturers faced issues such as lack of raw materials, manpower shortages and delayed/cancelled projects. This led to a steep decline in market revenue in 2020. However, with easing of lockdowns and initiation of vaccination drives, the market is recovering gradually. The construction industry is bouncing back, restarting delayed projects which is fueling demand recovery. To prevent virus spread, emphasis on maintaining hygiene and social distancing at construction sites is accelerating replacement/installation of safer stair nosing products. Focus on commercial and residential construction is also supporting market growth. Though short-term challenges persist, long-term outlook remains positive as the demand for anti-slip stair nosing to enhance workplace safety is expected to rise globally post pandemic.

Europe Currently Holds Largest Share in Stair Nosing Market

Europe currently holds the largest share in global stair nosing market in terms of value. Presence of major players, stringent safety regulations and increased focus on infrastructure development are major factors contributing to Europe’s dominance. Countries like Germany, UK, France have healthy construction and renovation activities which drives significant demand. Government initiatives to develop public infrastructure and increase building retrofitting are propelling the European market. Asia Pacific is poised to be the fastest growing regional market during the forecast period. Rapid urbanization, strong GDP growth and rising investments in commercial and industrial sectors across China, India are fueling demand. Increasing awareness regarding benefits of using anti-slip stair nosing materials is also supporting market expansion in Asia Pacific.

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