09 January 2020
Visiongain’s new report Artificial Turf Market Report 2020-2030: Forecasts by Material (Nylon, Polypropylene, Polyethylene), Application (Commercial, Residential, Sports), and by region and analysis of leading companies operating in this industry.
The global artificial turf market is anticipated to surpass USD 5 billion by 2030 while growing at a lucrative CAGR of 5.7% during the forecast period from 2020 to 2030.
Artificial turfs, from Olympic stadiums and professional league arenas to grade school sports fields, are replacing natural turfs all over the world. Artificial turf resembles natural grass surfaces and offers a variety of benefits including all-time usefulness, flexibility & planning, and low maintenance. Since artificial turf is recyclable, it needs less water and eliminates the use of pesticides and fertilizers, and has a low environmental impact. These factors result in increased application of artificial turfs across businesses, homes, golf courses, public spaces, and municipalities.
Also, artificial turfs provide a lush view while requiring minimal resources & maintenance thus saving millions of gallons of water annually. The market for artificial turfs from developed and emerging economies is anticipated to witness lucrative growth due to growing disposable income. This aspect will impact the use of artificial turf for landscaping purposes positively. Therefore, for the artificial turf industry to thrive in the coming years, there are healthy growth prospects.
Artificial turf is made from polyethylene materials which represented the largest market share in terms of both volume and revenue in the year 2018 and similar dominance is anticipated over the projected period. The factors contributing to their increased popularity are superior product characteristics such as durability, softness, and resilience.
In the year 2018, the sports segment dominated the global artificial turf market and is anticipated to grow at a lucrative CAGR of xx% over the forecast period. Increasing interest by young people around the globe in outdoor sports has provided room for building new stadiums and sports fields which is further fueling the growth of the artificial turf industry.
The construction of sports grounds and stadiums for famous outdoor sports in the area, including rugby and tennis, has supported the growth of the industry. However, several football players have suffered from anterior cruciate ligament injuries on turf fields over the past few years, which is anticipated to challenge market growth.
In the year 2018, Europe dominated the global artificial turf market owing to the presence of several large sports fields, the transition from natural grass to synthetic grass, & the growing popularity of outdoor sports among the young generation.
Factors such as the presence of a large number of sports stadiums and numerous leading manufacturers of artificial turf based in the area support the development of the European market. Some of Europe's leading manufacturers of artificial turf include SportGroup, Tarkett, Victoria PLC, and SIS Pitches. However, the Asia Pacific region is anticipated to grow with the highest CAGR over the forecast period. Rapid urbanization, high infrastructure investment and an increasing number of commercial playground surfaces in the region were expected to drive the region's artificial turf market.
Some of the key artificial turf market players include Act Global, Artificial Grass.com, Avalon Grass, CC Grass, CoCreation Grass Corporation, CONDOR Group, Controlled Products, LLC (GrassTex), FieldTurf, ForestGrass, ForeverLawn, Global Syn-Turf, Inc., Shaw Industries Group, Inc., Sport Court Carolina, Sportfield Deutschland Holding GmbH (AstroTurf), Synlawn Artificial Grass, Synthetic Turf International, Tarkett S.A., The DOW Chemical Company, TigerTurf, Victoria PLC (Avalon Grass) among other prominent players.
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