Rubber is often used to make up flooring in many areas of the world, but some areas of Asia have seen prices rise significantly.
In China, rubber prices have jumped up to more than 2,000 yuan ($3,200) per kilogram.
Rubber is also used in the production of flooring for homes in Japan, Korea, Taiwan and Vietnam.
Prices in Australia have risen to nearly 3,000 US cents per kilo.
In India, prices have also increased dramatically, rising by about 10% in the past year, according to an analysis by research firm Gartner.
Rubber floors in India are made of materials such as rubber cement and rubber resins, and require the use of chemicals.
“Indians are the largest consumer of rubber floorings worldwide, and their demand is increasing,” the company said.
In Australia, there is also a rise in demand for rubber floor material in residential buildings.
There has been a 10% increase in demand in the last 12 months for rubber floors, according a report by Gartners.
“Australia is a country of rubber producers, where the rubber floors industry has grown from around 100,000 workers in 1998 to around 1.5 million in 2015, and the rubber floor industry accounts for more than 25% of the Australian economy,” Gartens report said.
“Although rubber floors are not a very widely used flooring material in Australia, this trend is expected to continue.”
“This growth in demand is primarily due to the rise in prices, which have been consistently increasing over the past several years,” the report said, adding that rubber prices are rising in Australia because of a weak global economy.
“While rubber floors have been the most commonly used floor covering in Australia for over 30 years, they are experiencing a boom in popularity due to increasing demand from the growing number of homes built on them.”
While rubber prices can rise as a result of demand for the material, there are other factors that are contributing to its rise.
Gartners said it is “extremely important” that the industry be protected from climate change, adding: “As a result, a global price on rubber is not feasible.”
“There is currently no sustainable solution for the supply of rubber,” it added.
“We are seeing the impact of the lack of an effective policy to protect the rubber industry from climate effects on the rubber producers.”