Editoria e Media
Artificial Turf Market Size Worth $3.8 Billion by 2025 | CAGR: 5.4%: Grand View Research, Inc.
Increasing number of international outdoor sports events across the globe and rising need for low maintenance of stadiums & playgrounds are likely to augment the artificial turf market growth. Furthermore, increasing demand for artificial turf in modern residential construction to improve the aesthetic appeal of living and backyard areas is anticipated to aid the market growth. In addition, rising living standards and high spending capacities of individuals in developing economies are likely to support the product demand in residential renovation activities.
Suitable characteristics exhibited by the product for use external areas and resistance to wear & UV rays are expected to increase its penetration in commercial applications. Rising demand for the product in offices, hotels, and in the corridors and seating areas of institutional buildings is expected to drive its demand over the forecast period. Commercial application segment is expected to register a CAGR of 5.1%, in terms of volume, over the forecast period owing to increasing utilization of artificial turf in educational institutes, playgrounds, malls, and walkways. Moreover, development of industrial areas and growing construction of modern architecture are anticipated to augment the market growth of artificial turf.
Key players in the market are focusing on the development of artificial turf with enhanced strength and ability to sustain heavy traffic and high temperatures, which is likely to aid product utilization in commercial applications. Product quality, affordable pricing, and well-established distribution channels are expected to be the key success factors for the market players. Players are focusing on improvements in the backing materials of artificial turf to hold turf threads firmly and new sewing technologies to cater to the demand in several flooring applications.
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco , the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: +1-415-349-0058
Toll Free: +1-888-202-9519
Email:
Web: https://www.grandviewresearch.com
Follow Us: |
Logo - https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg