Artificial Turf Market Size, $4,067.36 Million by 2028 Lead
New York, Jan. 21, 2022 (GLOBE NEWSWIRE) — According to our new research study on “Artificial Turf Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Material (Polyethylene, Polypropylene, Polyamide, and Others) and Application (Residential, Commercial, and Sport)”, published by The Insight Partners. The global artificial turf market growth is driven by the growing demand for artificial turf from the sports industry and increasing demand for artificial turf from the commercial and residential sectors.
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|Market Size Value in||US$ 2,847.28 million in 2021|
|Market Size Value by||US$ 4,067.36 million by 2028|
|growth rate||CAGR of 5.2% from 2021 to 2028|
|No. of Pages||138|
|No. of Charts & Figures||69|
|Historical data available||yes|
|Segments covered||Material and Application|
|Regional scope||North America; Europe; Asia Pacific; Latin America; MEAS|
|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|
Artificial Turf Market: Competition Landscape and Key Developments
Some of the leading players in the global artificial turf market are The Dow Chemical Company; Tarket; Act Global; CCGrass; TenCate Grass; SIS pitches; Victoria Plc; Green Fields BV; HATKO; and Hellas Construction, Inc.
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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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.
Asia Pacific accounted for the largest share of the global artificial turf market in 2020. The demand for artificial turf is increasing in this region due to the rising use of artificial turf in the residential sector, which is expanding substantially. The artificial turf has various advantages, such as less water use and chemicals and low maintenance. Hence, its demand form sports facilities is increasing. Additionally, market players in APAC are expanding their product portfolio through strategic mergers and acquisitions of small and medium-scale companies. All these factors are contributing to the growth of the artificial turf market in the region.
Increasing Demand for Artificial Turf in Commercial and Residential Sector:
There is a high demand for artificial turf in the residential and commercial application sectors. With various advantages, artificial turf has become a valid substitute for lawns. They are used in backyards, edgings, pavers, medians, and poolside areas and are used to create commercial and residential playgrounds, focusing on children’s safety.
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Artificial turf is extensively used for airport ground cover. In 2017, London City Airport installed a particular type of artificial turf from the Danish company. Further, various developed and developing countries are experiencing rapid urbanization, leading to the significant growth of the construction sector globally, thereby fueling demand for low-maintenance products, especially artificial turf.
Artificial Turf Market: Segmental Overview
Based on the material, the artificial turf market is segmented into polyethylene, polypropylene, polyamide, and others. The polyethylene segment held the largest share of the global artificial turf market in 2020. There are various types of polyethylene with a wide range of densities. Polyethylene is one of the most commonly used materials in the artificial turf industry. It is suitable for a variety of applications. Polyethylene grass finds application in front and backyards, sports fields, etc.
Based on the application, the global artificial turf market has been classified into the residential, commercial, and sports segments. The sports segment held the largest market share in 2020. There is a high demand for artificial turf due to easy maintenance and more playing time from the sports industry. Moreover, market growth is attributed to introducing high-quality artificial turf products by players approved by various associations, such as the Federation Internationale de Football Association (FIFA).
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Impact of COVID-19 Pandemic on Artificial Turf Market:
The pandemic has affected economies and industries in various countries. The unprecedented rise in the number of COVID-19 cases and the subsequent lockdown of numerous manufacturing facilities have influenced the growth of the various markets. In the Middle East and African countries, the distribution network was significantly disrupted, which affected the sales of artificial turfs. According to Synthetic Grass Warehouse, artificial turf contractors are experiencing gains in sales up to 30% from 2020. Sports field applications represented 63% of the installed turf in 2020 and are anticipated to remain the largest application segment over the forecast period. However, the use of turf in landscape applications is growing at a fast pace and is likely to open growth opportunities for the artificial turf market in the near future. The global marketplace is recovering from its losses. Manufacturers can overcome the demand and supply gap due to the revival of their operations.
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