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Artificial Turf Market Size, Share & Forecast 2024-2033
Artificial Turf Market Size
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According to The Business Research Company's, The artificial turf market size has grown strongly in recent years. It will grow from $4.94 billion in 2023 to $5.41 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to sports infrastructure development, landscaping and aesthetic appeal, water conservation, weather resistance, urbanization and limited green spaces, reduced maintenance costs.
The artificial turf market size is expected to see rapid growth in the next few years. It will grow to $8 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The growth in the forecast period can be attributed to climate change considerations, rising sports events, commercial and residential construction, public parks and recreational spaces, health and safety concerns. Major trends in the forecast period include advancements in turf technology, advancements in technology and materials, environmentally friendly turf solutions, pet-friendly turf solutions, focus on safety and performance.
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Market Drivers and Trends:
The replacement of natural grass with artificial turf in sports stadiums is expected to propel the growth of the artificial turf market. Artificial turf offers social and health benefits in terms of the capacity to sustain heavy use and accessibility of the sports stadiums Stadium authorities are increasingly adopting plans to replace natural grass surfaces with synthetic turf to provide high-quality sports ground surfaces. For instance, according to the National Football League, a sports association in the United States, in April 2021, Bank of America Stadium has done the transition from natural grass to artificial turf in time before the Carolina Panthers pre-season, which was scheduled in August 2021. The decision to the replacement of the natural grass with artificial field turf was made to guarantee a consistent surface for not only the Panthers but also for other events. This will be made even for the Charlotte Football Club of Major League Soccer, which will begin playing at BOA in 2022, college football games, and concerts. Therefore, the replacement of natural grass with artificial turf in sports stadiums is driving the growth of the artificial turf market.
Technological advancement and continuous innovations are shaping the artificial turf market. This trend is being followed by the companies operating in the turf or grass industry to provide exceptional quality and real value for their customers with standout products including unmatched lifetime warranties, commitment to sustainability and the industry's leading safety ratings. For instance, in February 2021, SYNLawn, a US-based manufacturer of artificial grass unveiled its new category of product enhancements and offerings which will include soy content, additional color options, advanced drainage, and Super Yarn technology. Super Yarn technology represents a significant step forward in the development of synthetic turf products. By combining three incredible features into one extruded grass yarn formulation, SYNLawn's Super Yarn technology transforms the turf industry. Super Yarn is the first of its kind artificial grass fiber, combining Sanitized antimicrobial technology with DualChill IR reflective technology and StatBlock anti-static technology at the molecular level.
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Major Key Players of the Market:
Taishan Sports Industry Group Co. Ltd., DuPont Inc., Shaw Industries Group Inc., Tarkett S.A., CoCreation Grass Co. Ltd., Victoria PLC, TenCate Grass B.V., SIS Pitches Limited, Limonta Sport S.p.A., ForeverLawn Inc., Edel Grass B.V., Sprinturf LLC, CCGrass, Synthetic Grass Warehouse, Act Global LLC, Nurteks Hali Sanayi ve Ticaret A.S., GreenFields BV, Hatko Sport Inc., Domo Sports Grass, GrassTex, Sporturf, Challenger Turf Inc., K&B JUNWOO Co. Ltd., ForestGrass, Rekortan GmbH, Matrix Turf Inc., SportsGrass, Soccer Grass, Condor Grass, Artificial Grass Direct, Easigrass, Artificial Lawn Company, Beaulieu International Group, Controlled Products LLC
Artificial Turf Market 2024 Key Insights:
• The artificial turf market size is expected to see rapid growth in the next few years. It will grow to $8 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%.
• Rising Sports Stadiums' Shift From Natural Grass Fuels Artificial Turf Market Growth
• Technological Advancements Redefining Quality Standards In Artificial Turf Market
• Western Europe was the largest region in the artificial turf market in 2023
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