South America 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)

South America 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)

The artificial turf market in South America (SAM) is expected to grow from US$ 114.91 million in 2021 to US$ 155.82 million by 2028. It is estimated to grow at a CAGR of 4.4% from 2021 to 2028.

The construction sector's growth is fueling the demand for artificial turf in various applications. There is a high demand for artificial turf from the residential and commercial application sectors. Due to the various advantages of artificial turf, it has become a valid substitute for lawns in many places. Artificial turfs are used in backyards, edgings, pavers, medians, and poolside areas. In addition, artificial turf surfaces are used to create commercial and residential playgrounds, focusing on children's safety. They are also being produced containing anti-bacterial properties. Moreover, the product is not exposed to hazardous pesticides and fertilizers, unlike natural grass that makes the product children and pet-friendly. Further, various developing and developed countries are experiencing rapid urbanization, leading to the rapid growth of the construction sector across the globe, thereby fueling demand for low-maintenance products such as artificial turf. Thus, the growth of the construction sector is driving the artificial turf market.

Based on the application, the MEA artificial turf market has been segmented into residential, commercial, and sport. The sports segment held the largest share of the MEA artificial turf market in 2020. It is one of the most crucial application segments of artificial turf and is most often used for baseball, football, rugby, soccer, lacrosse, and others. It is mainly used to provide an adequate surface for sports played on grass in areas where maintaining natural grass is difficult. It is also commonly used in sports stadiums and arenas. Artificial turf help in increasing playing and practice time, as athletes can train daily without concern about the weather on these fields, and it is also designed by keeping the safety of athletes in mind. There is a high demand for artificial turf from the sports industry due to easy maintenance and more playing time. Moreover, market growth is attributed to the introduction of high-quality artificial turf products by the market players approved by various associations, such as the Federation Internationale de Football Association (FIFA) and others.

Brazil reported the highest number of COVID-19 confirmed cases, followed by Argentina, Peru, Chile, and Ecuador. The governments in SAM countries have taken an array of actions to protect their citizens and contain the spread of novel coronavirus. South & Central America was facing lower export revenues both from the drop in commodity prices and reduction in export volumes—especially to China, Europe, and the US, which are important trade partners. These factors affected the growth of the artificial turf market in SAM. However, as the economies are recovering from losses, the artificial turf market is also projected to witness positive growth across the region in the next few years.

The overall SAM artificial turf market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the SAM artificial turf market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in SAM. CCGrass, HATKO, Tarkett, TenCate Grass, and The Dow Chemical Company are among the key players operating in the artificial turf market in this region.

Reasons to Buy

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the SAM artificial turf market
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the SAM artificial turf market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth SAM market trends and outlook coupled with the factors driving the artificial turf market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution