DUBLIN--(BUSINESS WIRE)--The "Artificial Turf Market - Global Outlook & Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The artificial turf market is expected to reach a volume of 2863.56 million square feet and a revenue of USD 12.68 billion by 2027, growing at a CAGR of 7.75% by revenue during the forecast period.
The emergence of hybrid technology and artificial turf with anti-bacterial properties & natural components, including cork and others, is leading to the development of the market. The growth is attributed to the constant innovation by the artificial turf players in the market and the development of an upgraded product with better features and functionality. The application of the product is no longer limited to just sports but has expanded to other areas like landscaping purposes for indoor and outdoor settings. The vendors are increasingly emphasizing the usage of biodegradable materials to develop eco-friendly solutions. Moreover, the advent of recyclable products and customized products offers significant growth opportunities to the top artificial turf manufacturers in the industry.
The following factors are likely to contribute to the growth of the artificial turf market:
- R&D Activities and Advancement in Technologies
- Growing Need for Environmental Protection
- Increasing Participation in Sports
- Cost-Effectiveness in Long Run
- Greater Resiliency in All Weather Conditions
Key Highlights
- Increasing the participation of women will positively impact the artificial turf industry growth Special initiatives are being taken to encourage women's participation in sports. For instance, the UK government is implementing several initiatives, such as organizing women's sports conferences to create awareness about the benefits of sports and fitness activities.
- The low maintenance cost of artificial turf as it eliminates the need for pesticides, fertilizers, and irrigation, is driving demand in the artificial grass market. Artificial turf does not require mowing, eliminating the need to purchase expensive lawnmowers.
- The property of Artificial turfs to withstand extreme weather conditions is driving the global artificial grass turf market. For instance, artificial turf prevents the sports arena from getting muddy in the rainy season, while it prevents grass freezing in winters.
The artificial turf market is segmented by:
- Installation Type
- Fiber Base Material
- Application
- Infill Material
- Pile Height
- Distribution Channel
- Geography
Vendor Landscape
- The key players in the artificial turf industry are Controlled Products, Shaw Industries, SportGroup, Tarkett, TenCate Grass Group, and Victoria PLC.
- The key players heavily invest in research and development to launch innovative products. Tarkett has over 150 employees dedicated to the R&I center, one of the largest artificial turf companies.
- Fostering partnerships with other vendors in high-demand regions will benefit smaller vendors in the market.
Key Vendors
- Controlled Products
- Shaw Industries
- SportGroup
- Tarkett
- TenCate Grass
- Victoria PLC
Other Prominent Vendors
- Act Global
- CCGrass
- Creative Recreation Solutions (CRS)
- Diamond Artificial Grass
- ForeverLawn
- Global Syn-Turf
- K&B JUNWOO
- Matrix Turf
- Nurteks
- RhinoTurf Synthetic Turf
- SIS Pitches
- Sports & leisure Group
- Soccer Grass
- Tru-lawn
- ForestGrass
Key Questions Answered:
1. What is the market size of the global artificial turf market?
2. What are the key trends driving artificial turf sales?
3. Who are the leading players in the artificial turf industry?
4. Why is demand for rubber infill materials high in the Artificial turf industry?
What is the demand outlook for the North American artificial turf market?
Market Dynamics
Opportunities & Trends
- R&D Activities & Technological Advancements
- Growing Need for Environmental Protection
Growth Enablers
- Increasing Participation in Sports
- Cost Effectiveness in Long Run
- Greater Resiliency in All Weather Conditions
Restraints
- Volatility in Raw Material Prices
- High Upfront & Installation Cost
- High Surface Temperature of Artificial Turf
For more information about this report visit https://www.researchandmarkets.com/r/6jv0dx
