Market Leader - Artificial Grass Market
The artificial grass market is estimated at USD 3.20 Billion in 2017 and is projected to grow at a CAGR of 6.8%, to reach USD 4.45 Billion by 2022. The market is driven by the growing demand for artificial grass from the sports industry, increasing applications of artificial grass in commercial and residential landscaping across the globe, coupled with the demand from the regions where the environmental conditions are arid or semi-arid. The shift in preference for artificial grass over natural grass is attributed to benefits such as increased frequency of usage; longer playing sessions; low-maintenance; and no requirement of irrigation, mowing, trimming, and fertilizers.
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. Arid & semi-arid countries such as the UAE, South Africa, Saudi Arabia, and Egypt is projected to drive the landscaping segment in the artificial grass market due to environmental benefits such as water conservation and difficulty to find soil for the healthy growth of natural grass during summer.
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.
Related Reports:
Artificial Grass Market by Installation (Flooring, Wall Cladding), Fiber Base Material (Polyethylene, Polypropylene, Nylon), Application (Contact Sports, Non-contact Sports, Leisure, Landscaping), Infill Material, and Region - Global Forecast to 2022
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