Artificial Turf Market Size to reach USD 6.93 Bn at CAGR of 9.8 % by 2029: Competitive Landscape, Opportunities, Hubs
Artificial Turf Market
Artificial Turf Market revenue is expected to grow at a CAGR of 9.8% from 2022 to 2029, reaching nearly USD 6.93 Bn.
North America held the largest Artificial Turf Market share in value and volume during 2021 and is expected to grow at a significant rate for the forecast period.”
— Maximize Market Research
PUNE, MAHARASHTRA, INDIA, November 11, 2022 /EINPresswire.com/ — According to the “Artificial Turf Market” report published by Maximize market Research, the market is expected to grow from USD 3.28 billion in 2021 to USD 6.93 billion in 2029 , at a CAGR of 9.8 percent for the forecast period from 2022 to 2029.
Artificial Turf Market Scope and Research Methodology
The report is a detailed analysis of the Artificial Turf Market by country, regional and global presence. Using data over a span of 10 years, current and future trends in the Artificial Turf Market are presented in the report along with growth rate and market size forecasts. Regional analysis of the market is conducted at local, regional and global levels for a better understanding of the market penetration, competitive structure, pricing and demand analysis. The report also covers the strategies followed by key players and gives their analysis on the basis of their growth in the last five years in the industry that helps investors and major companies decide their investment and strategic business stance.
The report has covered the global major players, regional players and local players with their strategic intents and revenue, financial status, portfolio, technological advancements, mergers and acquisitions, joint venture and strategic alliances.
New entrants in the market are also listed with an analysis of their growth prospects and future business outlook. Such analysis acts as a guide for stakeholders, investors, market players and followers and new entrants with an overall view of the Artificial Turf Market for formulating investment approaches and marketing tactics.
For a segment-wise analysis of the Artificial Turf Market, it is divided by material type, installation type, infill material and application for understanding the factors affecting the market growth positively and negatively. This provides a clear picture of the goods and services being offered in the Artificial Turf Market that aids the decision-making process for businesses. The bottom-up approach was employed to validate the market size and its estimation by different segments. Data was collected employing both primary and secondary data collection methods. Surveys, administering questionnaires and telephonic interviews with industry specialists, market leaders, entrepreneurs and marketing professionals were included in the primary methods. Secondary data was meticulously collected from a curated selection of sources for maximum reliability of the inferences. This includes official databases of various organizations and government sites, industry journals, white papers, annual reports, releases of product manufacturers and suppliers in the industry along with paid databases. SWOT analysis was conducted to provide the strengths and weaknesses of the Artificial Turf Market while PESTLE was employed to understand the potential impact of the micro-economic factors affecting the Artificial Turf Market.
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Artificial Turf Market Overview
Artificial turf is a man-made substitute for lawn installation or real turf grass. It is used as a surfacing material, replacing real grass in areas where it cannot grow or when the cost of maintaining real grass is high. This synthetic faux grass is made using synthetic fibers for the blades and the backing material of the turf. Both these components are achieved using nylon, polypropylene and polyethylene. Applications of artificial turf include sports stadiums and arenas in commercial settings or as playgrounds and lawns in backyards for residential properties.
Artificial Turf Market Dynamics
Residential and commercial construction industries have been witnessing growth over the past decades, especially in sports. Sports stadiums, fields, commercial gardens and residential houses have been built. The high maintenance and growing cost of grass are increasing the need for artificial turf. Such developments are expected to increase demand for high-quality artificial turf, boosting the Artificial Turf Market growth. Water-scarce regions which lack the conditions for growing grass are also expected to witness an increase in the demand for artificial turf.
The Artificial Turf Market is experiencing an increase in its applications. Airports are adopting artificial turfs for runway lighting in artificial landing surfaces for aircraft. Degradation of environmental conditions has resulted in a rise in the usage of artificial turf given its low maintenance and its effort for reducing the usage of harmful fertilizers and pesticides. Advancements in the Artificial Turf Market are also expected to drive market growth for the forecast period. Enhanced quality equipped with features such as anti-microbial technology is expected to be a major Artificial Turf Market driver.
Since the blades of the artificial turf are subject to wear and tear, the rubber granules are expected to be a major source of rubber pollution. Small pieces from the synthetic material get mixed in the environment in the form of micro-plastic. Along with this, the high cost of Artificial Turf with its installation is expected to hamper the Artificial Turf Market growth.
Artificial Turf Market Regional Insights
North America held the largest Artificial Turf Market share in value and volume during 2021 and is expected to grow at a significant rate for the forecast period. The regional Artificial Turf Market growth is led by US and Canada with their growing use of Astro turf and their installation both indoors and outdoors. Increased government expenditure on construction in these nations for building new schools, colleges and universities is expected to drive the Artificial Turf Market growth.
The European Regional Artificial Turf Market was led by the UK for the year 2021. This increase in demand is attributed to the application of artificial turf in a wide range of end-user industries such as aviation and the construction of hospitals, offices and airports. For the forecast period, the Asia-Pacific region is set to exhibit the fastest growth. The presence of several developing economies in the region is fueling the growth of the construction industry. Building community parks, backyards, patios and commercial spaces are driving the regional Artificial Turf Market growth.
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Artificial Turf Market Segmentation
By material type:
By installation type:
By infill material:
Artificial Turf Market Key Manufacturers:
Challenger Industries Inc.
Creative Recreation Solutions (CRS)
Global Syn Turf
Ten Cate Grass
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Key questions answered in the Artificial Turf Market are:
What is artificial turf?
What is the growth rate of Artificial Turf Market for the next five years?
What is the nature of competition in Artificial Turf industry in developed and developing economies?
Who are the key players in the Artificial Turf Market?
Who are the market leaders in Artificial Turf in Europe
Who are the market leaders in Artificial Turf in USA and Canada
Who are the market leaders in Artificial Turf in India, China, Japan and South Korea?
What are the factors affecting growth in the Artificial Turf Market?
Who held the largest market share in Artificial Turf Market?
What are the factors for the growth of Asia-Pacific region in Artificial Turf Market?
Market Share, Size & Forecast by Revenue | 2022−2029
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
Market Segmentation – A detailed analysis by Route of administration, Application, Facility of use and Region and Region
Competitive Landscape—Top Key Vendors and Other Prominent Vendors
Maximize Market Research is leading chemical and material research firm, has also published the following reports:
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Turf Protection Chemicals Market-The Turf Protection Chemicals Market size is expected to reach USD 8.94 billion by 2029 at a CAGR of 4.7 percent during the forecast period. The Turf Protection Chemicals Market is expected to be driven by expansion of sports activities and rising need for artificial turf due to increasing demand in commercial and residential construction industry.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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November 11, 2022, 09:29 GMT
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