Artificial Grass Market Analysis and Global Forecast

Posted on 2021-04-06 by MarketsandMarkets in Agriculture // 0 Comments

The global artificial grass market was valued at USD 3.00 Billion in 2016 and is projected to grow at a CAGR of 6.8% from 2017, to reach USD 4.45 Billion by 2022. The artificial grass market is driven by factors such as increased applications in the landscaping segment, recycling of artificial grass pitches, and development of different solutions for producing infill materials and yarn technology.

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Based on application, the landscaping segment is projected to grow at the highest CAGR from 2017 to 2022, making it a key revenue pocket for the artificial grass industry players. Due to an increase in the number of playground areas, lawns, gardens, and airports and several benefits such as natural look, aesthetic appeal, and low maintenance costs, artificial grass is gaining popularity in the landscaping segment for both, developed and developing markets.

Based on installation, the wall cladding segment is projected to grow at the highest CAGR from 2017 to 2022. A growing number of wall cladding installations of artificial grass in the exteriors and interiors of hotels, commercial spaces including reception areas, hospitals, terrace walls, pool areas, and porch areas is expected to drive the market during the forecast period.

In terms of value, Asia Pacific and South America are projected to be the fastest-growing regions for the artificial grass market during the forecast period. Countries such as India, China, Argentina, and Paraguay offer significant opportunities for the growth of the artificial grass market. Growing manufacturing base of artificial grass in these countries, growing popularity of sports, government support and encouragement for the implementation of artificial grass in sports fields and other commercial applications, coupled with water conservation concerns are some of the major factors that are expected to drive the growth of the artificial grass market in these regions.

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The market for artificial grass is dominated by key players such as DowDuPont (US), Tarkett (France), Controlled Products (US), Shaw Industries Group (US), and Victoria PLC (UK). Other artificial grass companies include Act Global (US), SportGroup (Germany), TigerTurf (New Zealand), SIS Pitches (UK), Matrix Turf (US), Nurteks Hali (Turkey), Soccer Grass (Brazil), Limonta (Italy), Sportlink (Brazil), and El Espartano (Argentina).

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