Global Artificial Turf Market to 2025 – by Material, Application and Geography – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Artificial Turf Market – Forecast (2020-2025)” report has been added to ResearchAndMarkets.com’s offering.
The Artificial Turf Market is forecast to reach $7 billion by 2025, growing at a CAGR of 6.84% during 2020-2025. The boom in the demand for landscaping and water savings have significantly increased the demand for artificial turfs in the market.
The multiple trends such as cooler temperatures, potential urban wildlife habitat, healthy soils that can sequester carbon, stormwater infiltration, and much lower installation costs are fueling market growth. The report covers Artificial Turf Market size by material and applications, Artificial Turf Market share by top 5 companies and also the market share by start-ups during the forecast period.
Europe dominates the Artificial Turf market owing to increasing demand from applications such as contact sports and landscaping.
The contact sports segment held the major share in the application segment. The high demand is attributed to lower installation costs and newer generation materials being used in the market.
By material, polyethylene and nylon are the major segments.
Artificial Turf Market Drivers
Rapid growth of technology has helped synthetic grass yarn grow with leaps and bounds making it more acceptable in sports and homes alike. Primary stakeholders of this technology like FIFA and UEFA Champions League have taken great interest in it, giving it a much-needed boost. Stronger fibers which are more environmentally friendly, sustainable and yet high-performance solutions are being developed as well.
Growing demand for Water Saving & Waste Elimination
The total amount of synthetic turf installed in North America manages to save more than 3 billion gallons of water. But water conservation is not the only benefit. Crumb rubber, manufactured from recycled tires, is now used as infill for synthetic grass; this has caused over a 100 million used tires to stay out of landfills.
Growing demand from landscaping and leisure
With more and more areas across the globe being affected by drought maintaining a lush lawn has become an expensive affair. Also, the rising awareness of environmental degradation has led people to reduce the use of chemical-based fertilizers and pesticides. With designers and architects continuously finding different ways to use synthetic grass, it has managed to find its way in everyone’s life. Many have found uses for it in the form of wallpaper, or head-rests for beds, among other things. Manufacturers have also found ways to weave in fiber optics into synthetic turf, essentially converting synthetic playing fields into huge jumbotrons.
Artificial Turf Market Challenges
Volatile raw material prices
In the second half of 2018, the oil market exhibited high volatility not only in terms of price levels but also time spreads and quality spreads. After reaching highs of $81/b and $71/b in October, monthly Brent and WTI prices ended the year in December at $57/b and $49/b respectively. At the same time, time spreads switched from backwardation to contango, as inventories rose above their 5-year average and the prospects for global demand worsened amid supplies increasing. The spreads between light sweet-medium sour crude also exhibited wide volatility, with the Brent-Dubai and WTI-Dubai spreads collapsing signaling a shortage of heavier sour crude globally.
Artificial Turf Market Landscape
Major players in the Artificial Turf Market are Victoria PLC (Avalon Grass), Sportfield Deutschland Holding GmbH (AstroTurf), CoCreation Grass Corporation, FieldTurf, Global Syn-Turf, Inc., Controlled Products, LLC (GrassTex), ForestGrass, Synlawn Artificial Grass , The Dow Chemical Company (DOW), and TigerTurf, among others.
For more information about this report visit https://www.researchandmarkets.com/r/r8oa7g