Artificial Turf Market To Reach USD 4.20 Billion By 2027
New York, October 21, 2020 (GLOBE NEWSWIRE) – Growing demand for landscape applications and sports is the main driving force behind the artificial turf market.
The global artificial turf market is projected to reach $ 4.20 billion by 2027. Due to the lower water consumption and chemicals, the low maintenance requirements, the lack of irrigation and the lower weather resistance, the market is being driven by an increased demand for artificial turf in sports facilities. The environmentally friendly properties of artificial turf and the increasing disposable income are likely to increase the demand for artificial turf in various developing countries. The use of artificial turf for recreational and landscaping purposes is expected to provide important incentives for industry players to gain a foothold in the industry.
With increasing globalization, the growth of the construction sector becomes a critical factor favoring the market. The artificial turf market has seen demand from houses, sports fields, stadiums and industrial gardens in construction projects.
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The marketing strategies of the players in the sector include the production of high quality artificial turf approved by ITF, FIFA, FIH, etc. The global artificial turf market is driven by companies pursuing strategies such as better growth plans, alliances and new products, partnerships, diverse branding, investments, mergers and acquisitions, and R&D.
Other important findings of the report suggest
- Hybrid artificial turf technology will open up new growth opportunities for market participants in artificial turf in the near future.
- The rise of the global artificial turf market is being driven by key factors such as durability, cost efficiency and low maintenance that have resulted in the product becoming increasingly used in residential areas. In order to maximize the growth of this sector, additional environmental benefits such as reduced use of water and pesticides contribute. Companies develop advanced technologies for the development of artificial turf.
- In recent years, most of the major players in the market have invested heavily in R&D initiatives and have contributed to the invention of several innovative products. Key players expand their product portfolio through strategic mergers and acquisitions of small and medium-sized companies. An intense rivalry between the players is therefore expected in the forecast period.
- In April 2017 Ten Cate Grass acquired the Synthetic Grass Warehouse. This acquisition helps Ten Cate Grass become a key player in the fast growing landscaping segment as a provider of artificial turf.
- In August 2019, AstroTurf acquired Nagle Athletic Surfaces Inc.The acquisition allowed the company to increase its market share as Nagle Athletic Surfaces, Inc. has an extensive product range.
- The most important participants include Tarkett, Koninklijke Ten Cate NV, Shaw Sports, CoCreation Grass Corporation, Domo Sports Grass, Polytan, Act Global, SIS -stellstellen, Limonta Sport SpA and Edel Grass BV.
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Segments Covered in the Report:
For this report, reports and data have segmented the artificial turf industry global report by installation type, base material, application, infill material, pile height and by region for this study:
Installation Type Outlook (Revenue, USD Billion; 2019-2027)
Baseline Material Outlook (Revenue, $ Billion; 2017-2027)
Application Outlook (Revenue, $ Billion; 2017-2027)
Infill Material Outlook (Revenue, Billion USD; 2017-2027)
- Petroleum based
- Sand based
Pile Height Outlook (Revenue, $ Billion; 2017-2027)
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Regional Outlook (Revenue, Billion USD; 2017-2027)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Saudi Arabia
- Rest of MEA
- Latin America
- Rest of LATAM
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