The growing incidence in demand for landscape applications and sports are the major driving forces for the market.
Market Size – USD 2.78 Billion in 2019, Market Growth - CAGR of 5.2%, Market Trends – The rise in the trend of customer's interest in sports and aesthetic appeals.
The Global Artificial Turf Market is projected to reach USD 4.20 billion by 2027. Owing to less water use and chemicals, low maintenance, no irrigation, and weather resistance, the market is being powered by an increased incidence in demand for artificial turf at sports facilities. The environmental friendly qualities of the artificial turf, along with the increasing disposable income, are expected to increase demand for artificial turf in different developing countries. The application of artificial Turf in the sense of leisure and landscaping is expected to provide key incentives for industry players to gain a foothold in the industry.
With globalization rising, construction sector growth is becoming a critical factor which favors the market. Artificial Turfs are extremely in demand for homes, sports fields, stadiums, and commercial gardens in construction projects.
Marketing strategies embraced by industry players include the manufacture of high-quality artificial Turf, which is approved by FIFA, ITF, FIH, etc. The global artificial Turf market will be powered by companies embracing strategies such as better growth plans, alliances, new products, partnerships, diverse branding, investments, mergers acquisitions, and RD.
Key participants include Tarkett, Koninklijke Ten Cate NV, Shaw Sports, CoCreation Grass Corporation, Domo Sports Grass, Polytan, Act Global, SIS Pitches, Limonta Sport S.p.A., Edel Grass B.V., among others.
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Further key findings from the report suggest
- The introduction of hybrid artificial Turf technology is expected to offer new growth opportunities to market players in the near future.
- The rise of the global market for artificial Turf is propelled by main factors such as longevity, cost-effectiveness, and low maintenance have led to the product's growing penetration in residential applications. To maximize the growth of this sector, added environmental benefits like less usage of water and pesticides are assisting. Companies are designing advanced technologies for developing artificial turf.
- In recent years, all of the major market players have invested heavily in RD initiatives, contributing to the invention of several innovative products. Major players aim to enhance their product portfolio by strategic mergers and acquisitions of small and medium-scale companies. In the coming years, therefore, an intense rivalry among players is expected.
- In April 2017, Ten Cate Grass acquired Synthetic Grass Warehouse. This acquisition helps Ten Cate Grass to become a major player in the rapidly growing landscaping segment as an artificial turf supplier.
- In August 2019, AstroTurf acquired Nagle Athletic Surfaces Inc. The acquisition helped the company grow its market share as Nagle Athletic Surfaces, Inc. has an extensive product range.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/artificial-turf-market
For this report, Reports and Data have segmented the global Artificial Turf industry report based on Installation type, Base Material, application, Infill Material, Pile Height, and by region for this study:
Installation Type Outlook (Revenue, USD Billion; 2019-2027)
- Wall Cladding
Base Material Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
Infill Material Outlook (Revenue, USD Billion; 2017-2027)
Pile Height Outlook (Revenue, USD Billion; 2017-2027)
- 10mm 25mm
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Asia Pacific
- Latin America
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