NEWARK, Del, June 16, 2023 (GLOBE NEWSWIRE) -- According to Future Market Insights, the artificial turf market size is expected to reach US$ 4,671.82 million by 2023, and ultimately to US$ 10,120 million by 2033, growing at an 8% CAGR. A bocce ball court, tennis court, putting green, or patio are all ideal recreational areas for artificial turf. The surface is highly resistant to wear and tear and can withstand high foot traffic. A variety of patterns and odd shapes can be created with this material because of its ease of cutting and shaping.
Long-term value and cost efficiency are major advantages of artificial turf. The investment, while it may seem expensive at first, can actually enhance the value of an individual's home over a period of several years. After considering the relatively small amount of time and money spent on maintenance, the grass pays for itself in a couple years after the cost of installation and installation.
A wide range of infill materials, as well as technological innovations, will likely increase the demand for artificial turf. For instance, Tadley Schools plan to build three-dimensional artificial turf pitches (ATPs) with associated facilities. In addition to offering turf products, artificial grass companies provide expert installation services as well. The packages are customized to fit customers' specific needs. Additionally, the company provides assistance and advice after the installation has been completed.
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For instance, In Brimpton Road, Baughurst, the Hurst School is looking for the construction of the pitch including fencing, gates, storage containers, floodlighting, hard-standing areas, and vehicular access. LED floodlights will be installed around the pitch at a height of 15 meters. The Hurst Community College, formerly known as the Hurst Secondary School, has proposed building a 3G artificial turf pitch south of the main campus.
Key Takeaways:
- In North America, artificial turf sales are expected to grow at a CAGR of 4.7% during the forecast period.
- The artificial turf market in Europe is forecast to grow at a CAGR of 4.6% in the forecast period.
- Germany's stadium demand is expected to grow at a CAGR of 3.9% over the next few years.
- In 2023, South Korea and Japan will dominate the global artificial turf market with over 4% market share.
- The growing disposable incomes and aesthetic appearances of India will result in a CAGR of 5%.
“A growing demand for artificial turf in various construction projects and a desire for aesthetics are expected to drive market growth for artificial turf. The ease of installation and maintenance will likely create opportunities in the coming years,” - says an analyst at FMI.
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Competitive Landscape:
Artificial turf companies rely on both organic and inorganic strategies to expand and penetrate new markets. Partnerships, mergers, and new product launches are a few of these strategies.
The key industry players are:
- Dow Dupont
- Tarkett
- Shaw Industries
- Victoria PLC
- Controlled Products
- ACT Global
- Sport Group
- Tigerturf
- SIS Pitches
- Matrix Turf
Market Developments Include:
- In May 2023, the Georgian Bluffs Council will review a proposal for converting the Derby Community Center into an indoor synthetic turf facility through a public-private partnership. The Georgian Bluffs committee of the whole meeting agenda features a report outlining Ontario Sports Development's proposal for potential alternative use of the Kilsyth facility. As part of its affiliation with Brampton North Soccer, Ontario Sports Development proposed operating the Derby Community Centre for at least ten years to support and provide a facility for artificial turf indoors for a reasonable price for local groups of people.
- In May 2023, a Montreal-based company, FieldTurf, will replace natural turf on a baseball field and a softball field with artificial turf for up to $1.7 million. FieldTurf's contract was unanimously approved by the school board on May 8. Across the street from North Royalton High School and Middle School are these two fields.
More Valuable Insights Available:
Future Market Insights offers an unbiased analysis of the global artificial turf market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the artificial turf market, the market is segmented based on infill material (rubber, rubber & sand, sand, and others), and application (contact sports, non-contact sports, leisure, and landscaping) across five major regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
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Market by Categorization:
By Infill Materials:
- Rubber
- Sand
- Others
By Application:
- Contact Sports
- Non-Contact Sports
- Leisure
- Landscaping
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa (MEA)
Table of Content (ToC):
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
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About the Chemicals and Materials Division at Future Market Insights (FMI):
The chemicals and materials team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 billion+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
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