Report : Asia Pacific Artificial Turf Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Material (Polyethylene, Polypropylene, Polyamide, and Others) and Application (Residential, Commercial, and Sport)
Polyethylene Segment to Dominate APAC Artificial Turf Market during 2020–2028
According to a new market research study on “APAC Artificial Turf Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Material and Application” is expected to reach US$ 1,343.13 million by 2028 from 1,123.71 US$ million in 2021. The market is estimated to grow at a CAGR of 5.0% from 2021 to 2028. The report provides trends prevailing in the APAC artificial turf market along with the drivers and restraints pertaining to the market growth. Significant rise in research and development activities and enhancements in technology is the major factor driving the growth of the APAC artificial turf market. However, issues associated with huge volumes of plastics being used hinders the growth of APAC artificial turf market.
APAC artificial turf market is segmented into material, application, and country. Based on material, the APAC artificial turf market is segmented into polyethylene, polypropylene, polyamide, and others. The polyethylene segment led the APAC artificial turf market in 2020. Based on the application, the APAC artificial turf market has been segmented into residential, commercial, and sport. The sports segment held the largest share of the APAC artificial turf market in 2020. Based on country, the APAC artificial turf market is segmented into Australia, China, India, Japan, South Korea, and Rest of APAC. China held the largest market share in 2020.
The COVID-19 pandemic severely affected many industries across APAC, including the chemicals & materials industry. Due to the shutdown of manufacturing units, disruption of supply chains, and raw material shortage. However, China was the first of all the APAC countries to recover from losses due to rapid vaccination and effective government regulations. This is projected to impact the growth of the artificial turf market positively. Furthermore, the rising penetration of e-commerce platforms across the region is projected to boost the sales of artificial turfs over the coming years.
Act Global; CCGrass; GreenFields BV; HATKO; Tarkett; TenCate Grass; and The Dow Chemical Company; Victoria PLC are among the leading companies in the APAC artificial turf market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Act Global announced launch of custom turnkey solutions to aid private schools and institutions plan, design, and install a synthetic turf sports field that fits their budget and meets their athletic as well as community needs.
APAC Artificial Turf Market
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