Increasing Application of Artificial Turfs across Businesses, Homes, Golf Courses, Public Spaces, and Municipalities: Aiding the Artificial Turf Market Growth
The artificial turf market was worth $3.25 billion in 2017 and is expected to be worth $8.56 billion by 2026, growing at a CAGR of 10.5% 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, ease of preparation, and low maintenance, among others.
As artificial turfs are recyclable, require less water, and reduce the use of pesticides and fertilizers, they have a low impact on the environment. As a result of these factors, artificial turf is finding increased application across businesses, homes, golf courses, public spaces, and municipalities. Moreover, these turfs provide a lush, attractive landscape solution that requires minimal resources and maintenance while saving millions of gallons of water each year.
The demand for artificial turf from developing and emerging economies is expected to be high owing to the people's increasing disposable income. This factor will positively influence the use of artificial turf for landscaping purposes. Therefore, there are healthy growth opportunities for the artificial turf market to flourish in the coming years.
Market Synopsis
Polyethylene 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 is the most preferred choice of turf material as a result of various factors such as softness, durability, and resiliency. However, the polyamides segment is expected to witness a high growth rate during the forecast period. Factors such as a high melting point, a long color holding capacity, and excellent wear resistance are some of the important factors that will support the growth of the segment.
Asia Pacific will continue to be the most profitable market for artificial turf manufacturers to invest in.
Europe stood as the world's 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 contribute to the market's growth in Europe. Some of the leading artificial turf manufacturers headquartered in Europe include SportGroup, Tarkett, Victoria PLC, and SIS Pitches, among others. However, Asia-Pacific is expected to emerge as the fastest-growing segment in the coming years. Rapid urbanization, high investment in infrastructure, and the growing number of commercial playground surfaces in the region are expected to drive the artificial turf market in the region.
Report Scope by Segments
The report elucidates the detailed outline of the global artificial turf market by categorizing the market in terms of material type, installation, application, and geography.
Key players profiled in the report include Tarkett, Dowdupont, Shaw Industries, Victoria PLC, Sports Group, ACT Global, SIS Pitches, Tigerturf, Matrix Turf, Soccer Grass, and Nurteks Hali, among others.
Key questions are answered in this report.
What was the size of the global artificial turf market in 2017, and what is the forecast for 2026?
What are the current trends in the artificial turf market?
What are the various valuable opportunities for the players in the market?
Which is the largest regional market for artificial turf?
Which region is expected to have the fastest growth and why?
What are the future prospects for the artificial turf market?
What are the major drivers and restraints influencing the market's growth?
What are the new innovations by the leading players?
What are the key strategies adopted by the leading players in the market?
Frequently Asked Question:
The market for Artificial Turf Market is expected to reach USD$ 8.56 Bn in 2026.
The Artificial Turf Market is expected to see significant CAGR growth over the coming years, at 10.5%.
The report is forecasted from 2018 -2026.
The base year of this report is 2017.
Tarkett, Dowdupont, Shaw Industries, Victoria PLC, Sports Group, ACT Global, SIS Pitches, Tigerturf, Matrix Turf, Soccer Grass. are some of the major players in the global market.
