Reports And Data
Artificial Turf Market Driven by Safety Concerns, Sustainability Demands, and Technological Innovations in Sports and Landscaping Sectors
— Reports And Data
NEW YORK, USA, UNITED STATE, May 5, 2023 /EINPresswire.com/ — The global artificial turf market size is expected to reach USD 4.10 Billion in 2021 and register a revenue CAGR of 6.9% during the forecast period. Rising concern for athlete or player’s safety owing to rising demand from sports and athletics segment, along with various technological innovations is driving revenue growth of the artificial turf market revenue growth. Rising demand for eco-friendly, or sustainable artificial grass especially from an environmentally conscious population is also expected to drive market revenue growth of artificial turf over the forecast period.
The global artificial turf market has witnessed significant growth in recent years, and is expected to continue its growth trajectory during the forecast period. According to industry experts, the market size is anticipated to reach USD 4.10 Billion in 2021, with a revenue CAGR of 6.9% during the forecast period. One of the key drivers of market growth is the rising concern for athlete safety in sports and athletics segments, which has led to an increased demand for artificial turf. Technological innovations in the industry have also contributed to market growth.
In addition, there is a growing demand for eco-friendly and sustainable artificial grass, especially among environmentally conscious consumers. This trend is expected to drive market revenue growth of artificial turf over the forecast period. For example, TenCate Grass, a leading producer, retailer, and installer of artificial turf based in the Netherlands, recently launched a program for the recycling of end-of-life artificial grass in the U.S. This program, which utilizes ExxonMobil’s cutting-edge recycling Exxtend technology and Cyclyx’s experience in feedstock processing, is the first of its kind in the U.S. and has already been in use in the Netherlands. The company intends to extend the recycling program worldwide.
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Key Players covered in this report are
Tarkett, P.K. Versi Turf Private Limited, Namgrass, TenCate Grass, SIS Pitches, Edel Grass, Artificial Grass Liquidators, Victoria PLC, CCGrass, and Limonta Sport S.p.A.
Some Key Highlights from the Report
The polyethylene, polypropylene, and nylon segments of the global artificial turf market are determined by the base material. Over the projection period, the polyethylene segment is anticipated to provide a significant amount of revenue. The market for polyethylene artificial turf is growing, especially for commercial uses, due to factors including the realistic-looking grass, good water absorption properties, a great balance of toughness and ductile strength, as well as cheap maintenance costs. Due to its softness, realism, and lack of moisture absorption, polyethylene grass is ideal for front and backyard applications, sports, and pets.
According to geographical analysis, the European artificial turf market will have the greatest revenue share in 2021. The artificial turf market in this region is experiencing revenue growth as a result of factors including growing government initiatives and the implementation of numerous laws and regulations pertaining to the safety of sports and players. Another important element influencing the market’s revenue growth in this region is the existence of large corporations engaged in several strategic initiatives as well as Research & Development (R&D) projects for the introduction of novel products. Over the course of the projected period, North America is anticipated to have significant revenue growth.
TenCate Grass Holding, which was owned by Royal TenCate and controlled by a group led by Gilde Buy Out Partners, was bought by Crestview Partners on September 14, 2021. TenGate generates over USD 600 million in annual income by offering artificial grass and other landscaping services, mostly to the sports market. One of the target’s clients is the NFL’s New England Patriots.
Installation Type Outlook (Revenue, USD Billion; 2019-2030)
Flooring
Wall Cladding
Base Material Outlook (Revenue, USD Billion; 2019-2030)
Polyethylene
Polypropylene
Nylon
Application Outlook (Revenue, USD Billion; 2019-2030)
Commercial
Residential
Landscaping
Others
Infill Material Outlook (Revenue, USD Billion; 2019-2030)
Rubber-Based
Plant-Based
Sand-Based
Application Outlook (Revenue, USD Billion; 2019-2030)
Residential
Commercial
End-use Outlook (Revenue, USD Billion; 2019-2030)
Building & Construction
Automotive & Transportation
Electrical & Electronics
Others
Key Regional Markets Covered in the Report:
North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, Spain, France, BENELUX, Rest of Europe)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
The Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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Major Points covered in this report are as below:
• The Artificial Turfindustry development trends and marketing channels are analyzed. The feasibility of new investment projects are assessed and overall research conclusions offered.
• With the tables and figures, the report provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.
• Development policies and plans, manufacturing processes and cost structures are also analyzed. This report also states import/export consumption, supply and demand figures, cost, price, revenue and gross margins.
• The Artificial TurfMarket report provides key statistics on the market status of the Artificial Turfmanufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
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