Artificial Turf Market Poised for 8% CAGR Expansion in Forecast period from 2023 to 2033

Artificial turf, also known as synthetic grass or fake grass, has emerged as a revolutionary alternative to natural grass in various applications such as landscaping, sports fields, residential lawns, and commercial spaces. Artificial turf offers numerous advantages, including durability, low maintenance requirements, water conservation, and aesthetic appeal. As a result, the global artificial turf market has experienced remarkable growth in recent years and is expected to continue its upward trajectory. In this article, we delve into the flourishing artificial turf market, highlighting key factors driving its expansion, major applications, technological advancements, and market trends.

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.

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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.

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%.

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"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 FMI analyst.

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:

1. Dow Dupont
2. Tarkett
3. Shaw Industries
4. Victoria PLC
5. Controlled Products
6. ACT Global
7. Sport Group
8. Tigerturf
9. SIS Pitches
10. 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.

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Artificial Turf Market by Category

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)

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Report: https://www.futuremarketinsights.com/reports/artificial-turf-market

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.