Global Market for Artificial Sports Turf Materials to Reach $2.2 Billion by 2023

October 09, 2018

WELLESLEY, Mass., Oct. 09, 2018 –With an increased interest in sports around the globe, sporting facilities are looking to artificial sports turf to ensure high quality playing fields in contact sports such as soccer, hockey, tennis and others. According to the BCC Research report Artificial Sports Turf Materials: Global Markets to 2023, emerging market growth, government initiatives to encourage sport to counter obesity and technological advances are contributing to the growth of the market.

Major players in the market include Berkshire Hathaway Inc., Tarkett S.A., Royal Ten Cate, Mondo S.p.A., and Support in Sport (UK) Limited.

The artificial sports turf materials market reached a value of nearly $1.7 billion in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 6.2% to nearly $2.2 billion by 2023.

Research Highlights

• The soccer and contact sports segment accounted for the largest share of the artificial sports turf materials market in 2018 at $1.4 billion.
• Western Europe was the largest region in the artificial sports turf materials market, accounting for 37.4% of the global market.
• Asia-Pacific is expected to witness the fastest growth in the market, growing at a CAGR of 8.5%, followed by South America which is expected to grow at a CAGR of 7.4%.

“The advantages of artificial turf over natural grass increased adoption of artificial sport turfs by sports stadiums and increasing popularity of soccer and other team sports contributed to the growth of the market,” the report notes. “Artificial turfs are widely used for sports pitches due to their high durability, superior quality, low maintenance and eco-friendly attributes. In addition, artificial turfs reduce waterlogging on the pitch, thus making them suitable for wet weather conditions.”

Editors/reporters requesting analyst interviews should contact Eric Surber at press@bccresearch.com.

Artificial Sports Turf Materials: Global Markets to 2023( AVM187A )
Publish Date: Sep 2018    

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