Sports Flooring Market: Introduction
In terms of value, the global sports flooring market is anticipated to expand at a CAGR of ~6% from 2020 to 2030. The demand for indoor sports activities has been increasing in North America and Europe due to extreme weather conditions. Governments and private sports clubs in these regions are investing significantly in indoor sports complexes. The growth in public awareness about the link between physical activity and health is also projected to drive the demand for indoor sports activities. There has been a significant rise in participation in indoor sports activities in North America and Europe over the past few years. This can be ascribed to increase in household income and growth in expenditure on recreational activities. The rise in awareness about fitness and personal care is encouraging people to spend on gym memberships; and yoga, Zumba, and dance activities. This trend is likely to continue in the near future.
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Rise in Environmental Concerns to Hamper Sports Flooring Market
PVC, polyurethane, rubber, and polypropylene are used to manufacture sports flooring. The usage of these products leads to air pollution, as these products are derived from crude oil. Manufacture of PVC flooring creates dioxins, which are carcinogenic bio-accumulative toxins. These substances pose a health risk to anyone exposed to them. The lifespan of sports flooring ranges from 10 years to 20 years. After use, PVC, polyurethane, rubber, and polypropylene are recycled or dumped into the landfill. However, PVC flooring is not biodegradable. It leads to pollution in landfill. Furthermore, these products are derived from crude oil, and crude oil production and processing industry is the one of the leading industries that causes pollution. Thus, rise in environmental concerns is anticipated to restrain the sports flooring market during the forecast period.
Artificial Turf Flooring to Offer Lucrative Opportunities for Sports Flooring Market
In terms of product type, the global sports flooring market has been divided into PVC flooring, wood flooring, polyurethane flooring, rubber flooring, polypropylene flooring, artificial turf flooring, and others. Polypropylene surface is used in artificial turf flooring. It minimizes the risk of friction between skin and the playing surface. As a result, demand for artificial turf flooring is high in sports such as soccer, football, lacrosse, baseball, and hockey. Wood flooring is another key segment of the sports flooring market. Wood provides healthier indoor air, as it does not produce any volatile organic compound.
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Outdoor Application to Dominate Sports Flooring Market
In terms of application, the global sports flooring market has been bifurcated into outdoor and indoor. In terms of value and volume, the outdoor segment constituted significant share of the global sports flooring market in 2019. The demand for outdoor sports flooring is high in sports clubs, public facilities, schools, and other educational institutes. Outdoor facilities require lower investment vis-à-vis indoor facilities, as the latter requires extra lights, ventilation, and infrastructure. This increases the cost of facilities. Hence, demand for outdoor sports facilities is higher. This is estimated to drive the outdoor segment in the near future.
Rise in Number of Commercial Physical Activity Centers to Drive Global Market
In terms of end use, the global sports flooring market has been divided into commercial and residential. The commercial segment is anticipated to dominate the market during the forecast period due to rise in investment in commercial physical activity centers. The growth in investment in sports facilities is projected to propel the global sports flooring market during the forecast period. Governments of various developed countries in North America and Europe have been investing significantly in development of sports and recreational facilities for the general public in order to promote physical activities and sports. This is expected to boost the global sports flooring market.
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High Demand for Sports Flooring for Football Fields
In terms of sport, the global sports flooring market has been segregated into track & field (running, jumping, and throwing), football, basketball, volleyball, badminton, tennis, gym, dance, & aerobic studio, and others. In terms of value and volume, the football segment constituted a significant share of the global sports flooring market in 2019.
North America to be Lucrative Region of Sports Flooring Market
Based on region, the global sports flooring market has been split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is the leading region in terms of sports activities in the world. The U.S. has won the most gold medals in Olympics to date. It has won more than 2,500 Olympics medals. The U.S. is anticipated to be a lucrative country of the sports flooring market in North America during the forecast period, owing to the increase in awareness about fitness and rise in inclination toward sports activities in the country.
Competition Landscape of Sports Flooring Market
The global sports flooring material market is highly fragmented. The top players such as Shaw Industries Group, Inc., Tarkett Group, Interface, Inc., LG HAUSYS, and Bauwerk Boen Group cumulatively held more than 20% share of the global market in 2018. Leading players have taken initiatives to expand their presence through acquisitions, increase of production capacities, and strategic partnerships. Other Key manufacturers operating in the global sports flooring market are Kiefer USA, EPI Group, Aacer Flooring, LLC, SnapSports, Flexcourt Athletics, Conica AG, Mats Inc., KLIKFLEX FLOORING, and Rephouse Ltd.
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