The Latest Artificial Turf Industry Statistics Explained
The global Artificial Grass Turf Market size was valued at USD 3.8 billion in 2021.
The statistic that the global Artificial Grass Turf Market size was valued at USD 3.8 billion in 2021 indicates the total monetary value of artificial grass turf products sold worldwide during that year. This figure reflects the significant demand for artificial grass turf in various applications such as sports fields, landscaping, residential lawns, and commercial spaces. The market size suggests that there is a growing trend towards the use of artificial grass turf due to its low maintenance requirements, durability, and environmental benefits. This information is essential for stakeholders in the artificial grass turf industry, including manufacturers, suppliers, investors, and policymakers, as it provides valuable insights into the market’s economic scale and potential opportunities for growth and innovation.
The market is projected to reach USD 6.1 billion by the end of 2028.
The statistic ‘The market is projected to reach USD 6.1 billion by the end of 2028’ indicates a forecasted total value of the market in terms of US dollars by the conclusion of the year 2028. This estimation suggests anticipated growth and expansion in the market sector, potentially due to factors such as increasing demand, technological advancements, economic conditions, or other relevant drivers. It serves as a benchmark for stakeholders to understand the expected market size and can be utilized for strategic planning, decision-making, and investment purposes.
The CAGR of the artificial turf market is expected to be 6.2% between 2021 to 2028.
The Compound Annual Growth Rate (CAGR) of 6.2% projected for the artificial turf market from 2021 to 2028 indicates the average annual growth rate over this period. This means that the market is expected to increase by 6.2% each year on average. CAGR is a valuable metric for understanding the steady growth rate of a market over a specified period, providing a more accurate representation of growth trajectory compared to simple annual growth rates. In the case of the artificial turf market, a CAGR of 6.2% suggests a positive outlook for the industry with consistent growth opportunities anticipated in the coming years.
As of 2021, the Asia-Pacific region presents substantial growth in the industry due to vast urbanization and commercial infrastructural projects.
The statistic stated indicates that as of 2021, the Asia-Pacific region is experiencing significant growth in various industries attributed to extensive urbanization and commercial infrastructural projects taking place in the region. This growth suggests a robust economy with increased opportunities for businesses to thrive, create jobs, and contribute to the overall development of the region. The urbanization trend signifies a shift towards more concentrated populations in cities, leading to higher demand for goods and services, which in turn drives growth in industries such as construction, real estate, manufacturing, and services. Additionally, the substantial investment in commercial infrastructural projects highlights the region’s commitment to modernizing its infrastructure to support business activities and improve the quality of life for its residents. Overall, the statistic reflects a positive outlook for the Asia-Pacific region’s economic and industrial landscape in 2021.
The market in Europe is expected to dominate, thanks largely to high demand from countries like Germany and the UK.
This statistic suggests that the European market is projected to have a significant influence and control over the overall market, primarily due to strong consumer demand from countries such as Germany and the UK. These countries are expected to drive growth and consumption within the market, leading to a dominant position for Europe as a whole. This highlights the importance of these key markets in shaping trends and performance within the industry, indicating potential opportunities for businesses looking to target these high-demand regions for expansion and market penetration.
Residential application accounted for around 45% of global artificial turf market revenue in 2016.
The statistic indicates that residential applications, such as home lawns and gardens, represented approximately 45% of the total global revenue generated from the artificial turf market in 2016. This suggests that a significant portion of the artificial turf market revenue was driven by consumers purchasing synthetic grass for their residential properties. The data highlights the growing popularity of artificial turf among homeowners for enhancing the aesthetics and functionality of their outdoor spaces. This trend may be influenced by factors such as increasing awareness of environmental concerns, desire for low maintenance landscaping solutions, and advancements in artificial turf technology.
The global artificial grass market size was evaluated to be $2.5 billion in 2018.
The statistic indicates that the global artificial grass market was valued at $2.5 billion in the year 2018. This figure represents the total revenue generated by the sale of artificial grass products worldwide during that year. The size of the market reflects the demand for artificial grass landscaping solutions across various sectors such as residential, commercial, and sports. The evaluation of market size is important for stakeholders in the industry to understand the scope and potential of the artificial grass market, enabling them to make informed business decisions and strategize for growth and development in this sector.
By 2023, the global artificial grass market is expected to reach a marked revenue of $4.5 billion.
The statistic states that by the year 2023, it is anticipated that the global artificial grass market will achieve a revenue milestone of $4.5 billion. This implies a significant growth projection in the artificial grass industry, signaling a rising demand for synthetic turf products across various sectors such as residential, commercial, and sports fields. The estimated revenue figure reflects the anticipated increase in adoption of artificial grass due to factors like water conservation, lower maintenance costs, and improved durability compared to natural grass. This statistic suggests a lucrative market opportunity for businesses operating in the artificial grass sector, and underlines the potential for continued expansion and innovation in the industry over the coming years.
The nylon artificial grass segment is expected to register a CAGR of 5.6% during 2018-2025.
This statistic indicates that the nylon artificial grass segment is projected to experience a compound annual growth rate (CAGR) of 5.6% between the years 2018 and 2025. This suggests a steady and consistent growth rate for the nylon artificial grass market over this period. The CAGR reflects the annualized growth rate of an investment over a specified time frame, in this case, highlighting the anticipated growth trajectory of the nylon artificial grass segment in the coming years. The forecasted CAGR of 5.6% indicates positive market expansion and potential opportunities within the nylon artificial grass industry during the specified timeframe.
The global artificial grass market reached a value of US$ 3.8 Billion in 2020.
The statistic states that in 2020, the global artificial grass market was valued at US$ 3.8 billion, representing the total revenue generated by the sales of artificial grass products worldwide during that year. This figure indicates the significant size and economic importance of the artificial grass industry, which is driven by various factors such as increasing demand for low-maintenance landscaping solutions, growing investments in residential and commercial construction projects, and rising awareness about the environmental benefits of artificial turf. The market value of US$ 3.8 billion reflects the scale of consumer adoption and industry investment in artificial grass products, highlighting the trend towards sustainable and aesthetically pleasing landscaping solutions globally.
By 2026, the artificial turf market value is expected to surpass $3.5 billion.
The statistic “By 2026, the artificial turf market value is expected to surpass $3.5 billion” indicates a projected significant growth in the artificial turf industry over the coming years. This forecast suggests that the market for artificial turf, typically used in sports fields, residential lawns, and commercial landscaping, is going to experience substantial expansion, driven by factors such as increasing awareness of water conservation, growing emphasis on sustainability, and the desire for low-maintenance landscaping solutions. The projected value of over $3.5 billion by 2026 reflects the anticipated increase in demand for artificial turf products and services, signaling a lucrative opportunity for businesses operating in this sector and highlighting the evolving preferences of consumers towards more eco-friendly and efficient alternatives to natural grass.
North America held the largest market share in 2018, with a value of US$1.12 billion.
The statistic indicates that in 2018, North America accounted for the highest market share compared to other regions, with a total value of US$1.12 billion. This suggests that North America was the dominant market in terms of revenue generated within the specified industry or sector during that year. The large market share signifies a significant level of economic activity and demand, potentially driven by factors such as a large population, high levels of consumer spending, advanced infrastructure, or strong business environment. Understanding the distribution of market share across regions can provide insights into the overall dynamics of the industry and help businesses make informed decisions regarding strategic planning, resource allocation, and market expansion efforts.
The commercial applications sector dominated the artificial turf market by occupancy, with over 35% market share in 2019.
The statistic indicates that in 2019, the commercial applications sector held the largest portion of the artificial turf market, accounting for over 35% of market share. This suggests that businesses, institutions, and public spaces such as sports facilities, schools, and parks were the primary users and consumers of artificial turf during that year. The dominance of the commercial applications sector in the market highlights the widespread adoption of artificial turf in various industries to fulfill landscaping and recreational needs, reflecting a strong demand for synthetic grass in areas beyond residential use.
The artificial grass market in South America is growing at a CAGR of 9.82% since 2018.
This statistic indicates that the artificial grass market in South America has been experiencing a Compound Annual Growth Rate (CAGR) of 9.82% since 2018. This means that the market size for artificial grass in South America has been increasing steadily at an average rate of 9.82% per year over the specified time period. A CAGR is a useful measure for indicating the annual growth rate of an investment or market expansion, providing insight into the overall trend of growth over time. The consistent growth rate suggests a positive and expanding demand for artificial grass in South America, likely driven by factors such as urban development, landscaping trends, and environmental concerns.
Artificial Grass Turf Market in the Middle East and Africa is projected to grow at a CAGR of 9% during the forecast period 2021-2026.
This statistic indicates that the market for artificial grass turf in the Middle East and Africa is expected to experience a Compound Annual Growth Rate (CAGR) of 9% over the forecast period from 2021 to 2026. This suggests a steady and consistent annual growth rate in the demand for artificial grass turf products in the region. Factors driving this growth may include increasing awareness of the benefits of artificial grass over natural grass, such as low maintenance requirements and water conservation, as well as the growing popularity of artificial grass in various applications such as landscaping, sports fields, and residential lawns. The projected growth rate highlights a potentially lucrative market opportunity for businesses operating in the artificial grass turf industry in the Middle East and Africa.
The sport segment held the highest percentage of volume share, nearly 52.00% in 2019.
In 2019, the sport segment captured the highest proportion of volume share, accounting for almost 52.00% of the total market. This statistic suggests that sport-related products or services were the most popular or widely consumed among consumers during that year. The dominance of the sport segment in terms of volume share indicates a strong demand or preference for sports-related goods or activities compared to other segments within the market. This information could be valuable for businesses operating in the sports industry, helping them make informed decisions regarding product development, marketing strategies, and investment opportunities to capitalize on the market trend towards sport-related products.
Infilled artificial grass segment accounted for 64.4% of the total market volume in 2019.
This statistic indicates that infilled artificial grass segments made up a significant portion of the total market volume in 2019, comprising 64.4%. This suggests that infilled artificial grass, which is artificial grass filled with materials like sand or rubber to provide better support and cushioning, was a popular choice among consumers during that year. This statistic highlights the dominance of infilled artificial grass products in the market and shows that they were in high demand compared to other types of artificial grass options. Additionally, it reflects the market trend towards more advanced and specialized artificial grass segments that offer enhanced performance and durability for various applications.
The global Artificial Turf Market size was USD 2.7 billion in 2020.
The statistic that the global Artificial Turf Market size was USD 2.7 billion in 2020 provides a quantitative measure of the total value of artificial turf products sold worldwide during that year. This figure reflects the economic significance of the artificial turf industry, indicating a substantial market demand for synthetic grass surfaces used in various applications such as sports fields, landscaping, and residential lawns. The market size helps stakeholders, including manufacturers, investors, and policymakers, understand the scale of the artificial turf industry, track its growth over time, and make informed decisions related to production, investment, and regulatory policies.
The demand for artificial turf was the highest in Asia Pacific. In 2016, this region accounted for 38% of the overall market share.
The statistic indicates that the Asia Pacific region had the highest demand for artificial turf in the global market in 2016, with a market share of 38%. This suggests that the use of artificial turf was particularly popular in countries within the Asia Pacific region during that year. Factors such as a growing interest in sports and leisure activities, urbanization leading to limited space for natural grass fields, and increasing awareness of the benefits of artificial turf for landscaping and recreational purposes could have contributed to the high demand in this region. The statistic highlights the importance of the Asia Pacific market in driving the artificial turf industry and may also point towards potential growth opportunities in the region for artificial turf manufacturers and suppliers.
References
0. – https://www.www.mordorintelligence.com
1. – https://www.www.millioninsights.com
2. – https://www.www.expertmarketresearch.com
3. – https://www.www.grandviewresearch.com
4. – https://www.www.prnewswire.com
5. – https://www.www.proservegroup.com
6. – https://www.www.transparencymarketresearch.com
7. – https://www.www.industryarc.com
8. – https://www.www.globenewswire.com
9. – https://www.www.tripoto.com
10. – https://www.www.fortunebusinessinsights.com
