The market is expected to generate an incremental $ opportunity of US$ 2,112.7Mn between 2022 and 2032
Category: Chemicals & Materials Published Date : October 2022 ID: CVC-00392 Format: PDF Pages: 280
Artificial Turf Market Size Analysis
According to a recent survey conducted by ChemView Consulting, the Global Artificial Turf Market grew at a CAGR of 4.3% between 2017-2021 and is estimated to be US$ 3,278.1Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 5.1% and is expected to reach a valuation of US$ 5,390.8Mn by 2032 end.
The market is expected to do well because of the demand for attractive artificial lawns in gated communities and societies. Homeowners in urban areas are more likely to spend money on parks and grounds. Furthermore, these amenities are frequently considered crucial for any property’s aesthetic value. Artificial turfs are becoming increasingly popular in residential settings as they eliminate the touch with toxic chemicals and fertilizers needed for natural grass.
Developing eco-efficient solutions is a constant focus for industry players as artificial turf, and other flooring materials continue to advance. This includes using biodegradable materials like polylactic acid (PLA) fiber type and cost-effective manufacturing procedures.
EXPANSION OF HOTELS AND AIRPORTS AFFECTS ARTIFICIAL TURFS SALES
Global expansion of hotels, eateries, and airports is anticipated to fuel market growth. Artificial turf is utilized more frequently in these infrastructures for various purposes, including rooftops, swimming pools, and balcony decoration. Thus, the market for artificial turfs is projected to experience continuous growth due to the hospitality sector’s ongoing expansion.
The market is anticipated to be driven by the rising popularity of sporting events for games like football, cricket, hockey, golf, and others, as well as future international sporting events. As a result, the market will benefit from an increase in international athletic events, including games of cricket and football, among others. Because they are more resilient and do not lose their sheen even after repeated use, artificial turfs are increasingly being employed to prepare the fields that host various sports.
STRINGENT REGULATIONS ACROSS VARIOUS COUNTRIES REGARDING THE USAGE OF INFILL MATERIAL USED IN ARTIFICIAL TURF ARE HAMPERING THE GROWTH OF THE MARKET
Strict rules are hampering the market’s expansion in several nations, restricting the infill material used in artificial turf. For instance, with a six-year transition time, the European Chemical Agency (ECHA) has suggested that the European Union (EU) outlaw the synthetic granules used as infill in artificial turf. According to projections, this will impede market expansion in several European nations.
Artificial turf does not catch fire, but its high surface temperature melts quickly if exposed to direct sunlight or if something hot, like charcoal, falls on it. Other than this, elements like the unstable pricing of the raw materials used to make artificial turf and the high product price are likely to hamper the market growth.
GROWING DEMAND FOR ARTIFICIAL TURF IN PUBLIC SPACES FOR WATER-SAVING LANDSCAPE SOLUTIONS IS EXPECTED TO DRIVE DEMAND OVER THE PROJECTED PERIOD
Over the anticipated period, demand for artificial turf in public places for water-saving landscaping solutions is anticipated to increase. The parties involved in the development, use, testing, and consultation of synthetic grass products are represented by the Synthetic Turf Council. Such organizations’ promotional efforts will probably help the industry grow.
Market Segments Covered in Report
By Region and Country:
Why is Polyethylene increasing in demand globally?
In terms of volume and revenue, artificial turf made from polyethylene materials held the biggest market share. This dominance is expected to last for the duration of the forecasted period. The products’ superior qualities, such as their robustness, softness, and durability, make them more and more popular in end-user applications.
What is the significance of the Commercial Segment?
Over the forecast period, the commercial segment is anticipated to experience the fastest CAGR of 6.0%. In addition to other public utility spaces, hotels, amusement parks, and gardens frequently use artificial turf for commercial applications. Globally expanding commercial construction is probably going to support market expansion. The growth of the synthetic turf industry is predicted to be accelerated by urban development in important geographic areas and an increase in commercial playgrounds.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
Due to the presence of international manufacturers and a sizable number of domestic players who provide application-specific products, the global artificial turf market is moderately competitive. When making R&D investments, the players prioritize increasing the product’s longevity and toughness to withstand the competitive environment.
The key developments in the Global Artificial Turf Market:
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Application, Material, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|