The artificial turf market was valued at US$ 2,847.28 million in 2021 and is projected to reach US$ 4,067.36 million by 2028. It is expected to grow at a CAGR of 5.2% from 2021 to 2028.
Artificial turf is manufactured from synthetic fibers and made to imitate natural grass. Players in the artificial turf market are focusing on various strategies, such as new product launches, expansion, and mergers and acquisitions, to fulfill the customer demand. Moreover, research and development activities and advancements in technologies for recycling artificial turf are likely to offer more opportunities for the growth of this market during the forecast period.
The artificial turf market is classified based on the application into the residential, commercial, and sports segments. In 2020, the sports segment held the largest share of the global artificial turf market. It is also commonly used in sports stadiums and arenas. Artificial turf help in increasing playing and practice time, as athletes can train daily without concern about the weather on these fields, and it is also designed by keeping the safety of athletes in mind. There is a high demand for artificial turf from the sports industry.
Asia Pacific led the global artificial turf market in 2020. An increase in the consumer demand for having an aesthetic look to their garden and rising renovation and decoration trends are bolstering the demand for artificial turfs in this region. Additionally, the rise in residential and commercial infrastructural facilities across the region is substantially driving the artificial turf market.
Some of the leading market players are The Dow Chemical Company; Tarkett; Act Global; CCGrass; TenCate Grass; SIS Pitches; Victoria PLC; GreenFields BV; HATKO; and Hellas Construction, Inc. These players operating in the artificial turf market focus on various strategies.
The size of the global artificial turf market has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves to obtain an overview and forecast of this regional market concerning all the market segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights into the topic. Participants typically involved in this process include industry experts, such as VPs, business development managers, market intelligence managers, national sales managers, and external consultants, such as valuation experts, research analysts, and key opinion leaders, specializing in this market.