Artificial Turf Market Size to Reach $4.07 Bn by 2028 | The Insight Partners
Artificial Turf Market Size is expected to grow at a CAGR of 5.2% from 2021 to 2028
Pune, India, Nov. 09, 2023 (GLOBE NEWSWIRE) — According to our new research study, titled “Artificial Turf Market Forecast to 2028 – COVID-19 Impact and Global Analysis – By Material and Application,” the artificial turf market was valued at US$ 2.85 Billion in 2021 and is projected to reach US$4.07 Billion by 2028. It is expected to grow at a CAGR of 5.2% from 2021 to 2028. The market’s projected growth during the forecast period is attributed to the growing demand for artificial turf from the sports industry and increasing demand for artificial turf from the commercial and residential sectors.
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Artificial Turf Market: Competition Landscape
Some of the leading players in the global artificial turf market are The Dow Chemical Company; Tarkett; Act Global; CCGrass; TenCate Grass; SIS Pitches; Victoria Plc; GreenFields BV; HATKO; and Hellas Construction, Inc.
Artificial Turf Market Report Scope, Segmentations, Regional & Country Scope:
|Market Size Value in||US$ 2.85 Billion in 2021|
|Market Size Value by||US$ 4.07 Billion by 2028|
|Growth rate||CAGR of 5.2% from 2021 to 2028|
|No. of Pages||138|
|No. of Tables||59|
|No. of Charts & Figures||69|
|Historical data available||Yes|
|Segments covered||Material and Application|
|Regional scope||North America; Europe; Asia Pacific; Latin America; MEA|
|Country scope||US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Companies Covered||The Dow Chemical Company; Tarkett; Act Global; CCGrass; TenCate Grass; SIS Pitches; Victoria PLC; GreenFields BV; HATKO; and Hellas Construction, Inc|
The artificial turf market is a highly competitive one due to the presence of regional and global players. It is expected to continue to be a lucrative market in the coming years due to the growing demand for artificial turfs in various sports, residential, and commercial applications. It is manufactured from synthetic fibers. The quality of artificial turf mainly depends on the use of high-quality raw materials and apt equipment and the application of production expertise. The quality of the raw materials plays a vital role in the optimum performance of turf.
Based on the material, the global artificial turf market is segmented into polyethylene, polypropylene, polyamide, and others. The polyethylene segment held the largest market share in 2020. Polyethylene is the most popular type of plastic used globally. It is highly resistant to water absorption, does not hold pet odors, and has a good combination of toughness and ductile strength. It is suitable for a variety of applications. Polyethylene grass is ideal for front and backyard applications, sports, and pets due to a combination of softness, realism, and the lack of moisture absorption.
The global artificial turf market is segmented into five main regions: North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South and Central America (SCAM). In 2020, Asia Pacific held the largest revenue share in the global artificial turf market. The demand for artificial turf at sports facilities is increasing in this region as artificial turf requires less water use and chemicals, low maintenance, no irrigation, and is weather resistant. In addition, with rising globalization, the surge in the construction industry is becoming a key factor favoring the APAC artificial turf market.
The report includes the segmentation of the global artificial turf market as follows:
By material, the global artificial turf market is segmented into polyethylene, polypropylene, polyamide, and others. Based on the application, the market is categorized into residential, commercial, and sport. By geography, the market is broadly classified into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South and Central America (SCAM). North America includes the US, Canada, and Mexico. Europe includes Germany, France, the UK, Italy, Russia, and the Rest of Europe. Asia Pacific includes China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The Middle East & Africa (MEA) includes South Africa, Saudi Arabia, UAE, and the Rest of MEA. South and Central America includes Brazil, Argentina, and the Rest of SCAM.
- In 2021, Act Global announced the launch of custom turnkey solutions to aid private schools and institutions in planning, designing, and installing a synthetic turf sports field that fits their budget and meets their athletic and community needs.
- In 2020, FieldTurf, a Tarkett Sports company, announced the acquisition of the assets of Grass Manufacturers Pty Limited (Grassman), an Australian artificial turf manufacturer.
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Impact of COVID-19 Pandemic on Artificial Turf Market
The COVID-19 pandemic severely affected many industries worldwide, including the chemicals & materials industry. The ongoing pandemic has affected the growth of the artificial turf market severely. Due to the shutdown of manufacturing units, disruption of supply chains, and raw material shortage, a massive slump in product sales was witnessed. However, the lockdown restrictions are being slowly lifted in various countries, which is expected to positively impact the chemicals & materials industries, including the artificial turf market, during the forecast period. Furthermore, the rising penetration of e-commerce platforms is projected to boost the sales of artificial turfs over the coming years.
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