Artificial Turf Market- New Study Reveals Growing Demand from Sports, Commercial, and Residential Sectors Fuels Market

Global Artificial Turf Market Projected to Reach US$ 4,067.36 Million by 2028, Fueled by Growing Demand from Sports, Commercial, and Residential Sectors

NEW YORK, UNITED STATES, April 5, 2023 /EINPresswire.com/ -- According to our new research study, titled "Artificial Turf Market Forecast to 2028 – COVID-19 Impact and Global Analysis – By Material and Application," the artificial turf market was valued at US$ 2,768.21 million in 2020 and is projected to reach US$ 4,067.36 million by 2028. It is expected to grow at a CAGR of 5.2% from 2021 to 2028. The market's projected growth during the forecast period is attributed to the growing demand for artificial turf from the sports industry and increasing demand for artificial turf from the commercial and residential sectors.

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The demand for artificial turf has been on the rise in recent years, with various factors contributing to its growth. One of the key drivers of demand is the sports industry, which has seen a significant increase in the use of artificial turf due to its low maintenance and durability. Additionally, the residential and commercial sectors have also been adopting artificial turf as a substitute for natural grass, with its benefits such as low water use and low maintenance being major factors.

The Asia Pacific region has been leading the demand for artificial turf, with market players expanding their product portfolios through strategic mergers and acquisitions of small and medium-scale companies. The polyethylene segment holds the largest share of the global artificial turf market, and the sports segment has been the largest application segment in 2020, followed by the commercial and residential segments.

Increasing Demand for Artificial Turf in Commercial and Residential Sector

There is a high demand for artificial turf in the residential and commercial application sectors. With various advantages, artificial turf has become a valid substitute for lawns. They are used in backyards, edgings, pavers, medians, and poolside areas and are used to create commercial and residential playgrounds, focusing on children's safety.

Artificial turf is extensively used for airport ground cover. In 2017, London City Airport installed a particular type of artificial turf from the Danish company. Further, various developed and developing countries are experiencing rapid urbanization, leading to the significant growth of the construction sector globally, thereby fueling demand for low-maintenance products, especially artificial turf.

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Artificial Turf Market: Segmental Overview

Based on the material, the artificial turf market is segmented into polyethylene, polypropylene, polyamide, and others. The polyethylene segment held the largest share of the global artificial turf market in 2020. There are various types of polyethylene with a wide range of densities. Polyethylene is one of the most commonly used materials in the artificial turf industry. It is suitable for a variety of applications. Polyethylene grass finds application in front and backyards, sports fields, etc.

Based on the application, the global artificial turf market has been classified into the residential, commercial, and sports segments. The sports segment held the largest market share in 2020. There is a high demand for artificial turf due to easy maintenance and more playing time from the sports industry. Moreover, market growth is attributed to introducing high-quality artificial turf products by players approved by various associations, such as the Federation Internationale de Football Association (FIFA).

Impact of COVID-19 Pandemic on Artificial Turf Market

The pandemic has affected economies and industries in various countries. The unprecedented rise in the number of COVID-19 cases and the subsequent lockdown of numerous manufacturing facilities have influenced the growth of the various markets. In the Middle East and African countries, the distribution network was significantly disrupted, which affected the sales of artificial turfs. According to Synthetic Grass Warehouse, artificial turf contractors are experiencing gains in sales up to 30% from 2020. Sports field applications represented 63% of the installed turf in 2020 and are anticipated to remain the largest application segment over the forecast period. However, the use of turf in landscape applications is growing at a fast pace and is likely to open growth opportunities for the artificial turf market in the near future. The global marketplace is recovering from its losses. Manufacturers can overcome the demand and supply gap due to the revival of their operations.

Artificial Turf Market: Competition Landscape and Key Developments

Some of the leading players in the global artificial turf market are The Dow Chemical Company; Tarkett; Act Global; CCGrass; TenCate Grass; SIS Pitches; Victoria Plc; GreenFields BV; HATKO; and Hellas Construction, Inc.

Key Developments:

1. In 2020, FieldTurf, a Tarkett Sports company, announced the acquisition of the assets of Grass Manufacturers Pty Limited (Grassman), an Australian artificial turf manufacturer.
2. In 2021, Act Global announced the launch of custom turnkey solutions to aid private schools and institutions in planning, designing, and installing a synthetic turf sports field that fits their budget and meets their athletic and community needs.

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