Growing trend of converting natural grass field to artificial turf owing to less maintenance required has led to increase in its installation at sports field. The natural grass like surface made from synthetic fiber are called as artificial turf. Companies involved in the manufacture of artificial turf are focusing to diversify their product offerings based on its specific application. Due to this, manufacturers can target precise audience depending upon their requirements.
According to the Future Market Insights report, the global artificial turf market is estimated to be valued at US$ 3,803.1 Mn in 2017 and expected to reach US$ 6,660.6 Mn by the end of 2027. The market is expected to register an excellent CAGR of 5.8% during the forecast period 2017 – 2027. Increasing manufacturing of artificial turf directly get influenced by rising application at various field.
What are the market dynamics to drive demand for artificial turf across the globe?
- Growing consumer preference for artificial turf over natural grass
- Increasing applications of artificial turf
- Rising inclination of people towards sports events
- Availability of a variety in artificial turfs
- Increasing demand for artificial turf for landscaping application in commercial and residential places
- Increasing installation of artificial turfs at outdoors due to unfavorable climatic condition
- Major concern over water conservation
Where the market player find maximum application of artificial turf?
The rising inclination towards sports activities is likely to strengthen demand for artificial turf in coming years. The non-contact sports such as tennis, cricket, golf and badminton among others are observed to hold significance owing to its rising popularity among youth population. Thereby, offers potential opportunities for artificial turf makers for its application in non-contact sports. Moreover, contact sports like football, hockey and rugby among others are likely to drive the artificial turf market during the forecast.
Which region is likely to offer tremendous opportunities for artificial turf market?
The Asia-Pacific is expected to represent as a lucrative market for installation of artificial turf. The sale of artificial turf is expected to account for US$ 2,454.9 Mn by the end of forecast period. The APEJ market players are expected to account for maximum value share in the near future. This is highly attributed to growing commercial infrastructure coupled with rapid urbanization in the emerging economies like China, India and ASEAN countries. Among these Chinese key players in artificial turf are expected to account for nearly 50% of the total value share in this region.
Where can manufacturers find substantial growth to drive artificial turf market?
Artificial turfs are widely used for application such as contact and non-contact sports and landscaping (hotels, airport, recreation centers, roof top, residential balconies, etc.). Manufacturers are strongly focusing to offer artificial turf made from various infill material based on its application. This include sand, rubber and combination of both. Among these, combination of rubber and sand is expected to remain comparatively high in demand during the forecast period. The upcoming sports events in Western Europe like European Championship and Champions League Matches are highly likely to surge demand for artificial turf during the forecast period.
Who are the key market participants in artificial turf market?
Several manufacturing companies involved in making artificial turf are strongly focusing to establish long term partnership with the regional suppliers in order to gain high profitability margin and attract large customer base. Companies like Koninklijke Ten Cate N.V., Act Global LIMONTA SPORT S.p.A., SIS Pitches, POLYTAN GMBH, Fieldturf Inc, AstroTurf, LLC, All Victory Grass (Guangzhou) Co., GardenGrass, Fieldturf Inc. and ForeverLawn, Inc., among others to account for high amount of value share in the global artificial turf market.
Request Report Sample@ https://www.futuremarketinsights.com/reports/sample/rep-gb-2063