As in keeping with a research survey carried out using ESOMAR-certified consulting firm future market insights (FMI), the worldwide artificial turf market is predicted to attain us$ in 2021. The growing adoption of artificial turns for landscaping in residential and industrial buildings is predicted to facilitate a boom.
As per FMI, the market will extend at 5.9% CAGR over the forecast length 2021-2031 in evaluation to a CAGR of 1.8% registered between 2016 and 2020.
Artificial turfs are more and more used in hotels, eating places, residential homes, and airports for numerous landscaping applications which include redecorating balconies, rooftops, swimming swimming pools, youngsters’ playgrounds, and lawns. Hence, with the growth of urban infrastructure aligned with modern-day lifestyle, the call for artificial turf is expected to propel within the coming years.
Due to its advanced traits which include excessive durability, much less upkeep, and a low substitute rate over natural grass, artificial turfs are regularly used in touch sports together with rugby, soccer, hockey, and cricket gambling fields and stadiums.
Therefore, an increasingly wide variety of stadiums the world over and upcoming worldwide sports activities inclusive of ICC world cup 2023, FIFA global cup 2022, and others are predicted to boost the sales of artificial turf over the following ten years.
“Manufacturers inside the market are emphasizing on growing third-technology turfs the use of hybrid technology for growing progressive merchandise with shock pads and anti-bacterial homes to address the increasing call for from landscaping and sports activities region,” says the FMI analyst.
Key Companies Profiled
- Dow Dupont
- Shaw Industries
- Victoria PLC
- Controlled Products
- ACT Global
- Sport Group
- SIS Pitches
- Matrix Turf
What are the key restraints impeding the income of artificial turf?
Stringent rules across numerous countries concerning the use of infill material used in artificial turf are hampering the boom of the market. As an instance, the European chemical enterprise (ECHA) has proposed the European Union (EU) prohibit the artificial granules used as infill in artificial turfs, with six years transition period. This is projected to preclude the market boom in several European nations.
Artificial turf does not flame up, but due to its excessive floor temperature, it melts effortlessly if it is exposed to severe reflected daylight from any window or something hot falls in it together with charcoal. Apart from this, factors consisting of volatility in charges of raw material for the production of artificial turf and the excessive value of the product are possible to bog down the market increase.
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