"Increasing Application of Artificial Turfs across Businesses, Homes, Golf Courses, Public Spaces and Municipalities Aiding the Artificial Turf Market Growth"
The artificial turf market stood at US$ 3.25 Bn in 2017 and expected to reach US$ 8.56 Bn in 2026 growing at a CAGR of 10.5% during the forecast period from 2017 to 2026. Artificial turfs are replacing natural turfs across the world everywhere from Olympic stadiums and professional league arenas to grade school sports fields. Artificial turfs resemble natural grass surfaces and offer various benefits such as all-weather utility, versatility & preparation and low maintenance among others. As artificial turfs are recyclable, require less water, and reduce the use of pesticides & fertilizers, they have a low impact on the environment. As a result of these factors, artificial turfs are finding increased application across businesses, homes, golf courses, public spaces and municipalities. Moreover, these turfs provide a lush, attractive landscape solution and at the same time requires minimal resources and maintenance while saving millions of gallons of water each year. The demand for artificial turfs from developing and emerging economies expected to be on the high owing to increasing disposable income of the people. This factor will positively influence the use of artificial turfs for landscaping purposes. Therefore, there lies healthy growth opportunities for the artificial turf market to flourish in the coming years.
"Polyethylene Segment stood as the Largest Material Segment in 2017"
In terms of material type, the polyethylene segment accounted for the largest share in 2017. Globally, it the most preferred choice of turf material as a result of various factors such as softness, durability and resiliency. However, the polyamides segment expected to witness a high growth rate during the forecast period. Factors such as high melting point, long color holding capacity and excellent wear resistance are some of the important factors that will support the growth of the segment.
"Asia Pacific to Remain the Most Lucrative Market for Investment for Artificial Turf Manufacturers"
Europe stood as the largest market for artificial turf in 2017. Factors such as the presence of a large number of sports stadiums and many leading artificial turf manufacturers headquartered in the region compliments the market growth in Europe. Some of the leading artificial turf manufacturers headquartered in Europe includes, SportGroup, Tarkett, Victoria PLC and SIS Pitches among others. However, Asia Pacific expected to emerge as the fastest growing segment in coming years. Rapid urbanization, high investment in infrastructure and growing number of commercial playground surfaces in the region expected to drive the artificial turf market in the region.
Key players profiled in the report include Tarkett, Dowdupont, Shaw Industries, Victoria PLC, Sport Group, ACT Global, SIS Pitches, Tigerturf, Matrix Turf, Soccer Grass and Nurteks Hali among others.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Artificial Turf market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
ATTRIBUTE | DETAILS |
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Research Period | 2022-2032 |
Base Year | 2023 |
Forecast Period | 2024-2032 |
Historical Year | 2022 |
Unit | USD Million |
Segmentation | |
Material
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Installation
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Application
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report