Dublin, Dec. 21, 2023 (GLOBE NEWSWIRE) -- The "Artificial Turf Market by Material Type (Nylon, Polypropylene, Polyethylene), Filament Type (Monofilament, Multi-Filament), End-Use Industry (Building & Construction, Automotive, Artificial Grass), and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The latest comprehensive research on the Artificial Turf Market reveals remarkable insights into the sector's current state and future prospects on a global scale. The current market valuation stands at USD 76.6 billion in 2022 and is anticipated to surge to USD 114.3 billion by 2028, registering a sterling compound annual growth rate (CAGR) of 6.5% from 2023 to 2028.
The demand for artificial turf spans across various industries including building & construction, automotive, and notably, the artificial grass segment. The latter is expected to experience the highest CAGR in the forecasted period. This uptick is attributed to the increasing number of sports facilities and the growing popularity and development of contact sports worldwide.
Innovations in filament technology have led to the dominance of the Multi-filament segment, known for its durability and versatility. This solution has garnered attention for its widespread applications from sports fields to urban landscapes.
Growth Drivers and Market Trends
- Widespread Adoption in Contact Sports: Thanks to its resilient nature and suitability for rough play, artificial turf is heavily favored in sports such as football and hockey, boosting its adoption rate.
- Sustainability and All-Weather Durability: Artificial turf's ability to withstand various weather conditions and its low maintenance requirements position it as a sustainable alternative to natural grass.
- Asia Pacific Market Expansion: This region is showing exponential growth, with China as a significant contributor to this market expansion.
The detailed analysis included in the report elaborates on critical dynamics influencing the market such as water conservation benefits, all-weather utility, and the challenges posed by initial installation costs and microplastic release concerns. It also explores expanding applications and emerging technologies that may serve as pivotal opportunities in the sector.
Competitive Landscape and Strategic Insights
An in-depth competitive assessment has uncovered market share, growth strategies, and a diverse range of services offered by leading players. The analysis provides a comprehensive understanding of the market dynamics and strategic maneuvers employed by these frontrunners.
Companies Mentioned
- Act Global
- Beaulieu International Group
- Bellinturf
- Ccgrass
- Dupont
- Edel Grass
- Engineered Floors LLC
- Fieldturf
- Hatko
- Home Depot Product Authority LLC
- Interface, Inc.
- Lowe's Companies, Inc.
- Mannington Mills, Inc.
- Milliken
- Mohawk Industries, Inc.
- Oriental Weavers
- Royalty Carpet Mills, Inc.
- Shaw Industries Group, Inc.
- Sis Pitches
- Synlawn
- Tai Ping
- Tarkett
- The Dixie Group
- Tigerturf
- Victoria plc
For more information about this report visit https://www.researchandmarkets.com/r/mxvj3y
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
