Artificial Turf Market to exceed USD 4.8 billion in 2030, at a CAGR of 6.3%

Published: June, 2024
| Chemicals & Material

According to Intent Market Research, the Artificial Turf Market is expected to grow from USD 3.7 billion in 2023-e to USD 4.8 billion by 2030, growing at a CAGR of 6.3%

Increasing water scarcity and more areas across the world being affected by drought, maintaining a lush lawn has become difficult. Also, the increasing awareness of environmental degradation has led people to minimize the usage of chemical-based fertilizers and pesticides. With designers and architects continuously finding innovative ways to utilize artificial turfs, it has managed to find its way into everyone's life. The users have found uses for it in the form of wallpaper, or head-rests for beds, among other things. Manufacturers have also found ways to weave in fiber optics into synthetic turf, essentially modifying synthetic playing fields into huge jumbotrons.

Nylon-based artificial turfs are popular for athletic applications and heavy foot traffic areas because they retain their original shape and are resistant to high temperatures and melting. Innovations in materials that retain color, and resist wear and melting are boosting the market growth of artificial turf. Manufacturers are focusing on outdoor sports when innovating installation techniques and infill materials.

 

Source: Intent Market Research Analysis

Artificial turf is becoming increasingly popular for household applications, offering homeowners a low-maintenance and attractive alternative to natural grass. It's also great for creating safe and durable play areas for children. Its soft surface is perfect for play equipment, and its durability can withstand heavy foot traffic. Artificial turf can also be used to create outdoor entertaining spaces around fire pits or as patio extensions without the high maintenance requirements of natural grass.

Asia Pacific has witnessed higher growth in the forecast period due to increasing constructions supported by foreign multinational investments. Growing tourism and hospitality industries are also driving the consumption of artificial turf in commercial applications. Rapid urbanization and the construction of commercial playgrounds are likely to support market growth.

Artificial turf market growth is propelled by strategic initiatives such as mergers & acquisitions and partnerships adopted by the major market players.  Some prominent players in the global artificial turf market are Act Global, Co-Creation Grass, Condor, Dow, ForestGrass, Global Syn-Turf, Polytan, Shaw Industries, SIS Group, SpectraTurf, Sports Group, Tarkett and TenCate.  

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