PUBLISHER: The Business Research Company | PRODUCT CODE: 1414655
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414655
“Turf Protection Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on turf protection market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for turf protection? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The turf protection market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Turf protection involves the use of perforated flooring materials that allow air, water, and light to penetrate the subsurface, safeguarding turf from deterioration. This method is employed to shield and enhance the aesthetic appeal of turfgrass by minimizing damage.
Within the realm of turf protection, key product categories include stress protection, pest protection chemicals, and scarification. Stress protection is a condition that arises from various factors, primarily stemming from high temperatures and environmental extremes. Turf protection encompasses various forms, such as mechanical, chemical, and biological methods, catering to diverse applications such as landscaping, golf courses, sports fields, and sod cultivation.
The turf protection market research report is one of a series of new reports from The Business Research Company that provides turf protection market statistics, including turf protection industry global market size, regional shares, competitors with a turf protection market share, detailed turf protection market segments, market trends and opportunities, and any further data you may need to thrive in the turf protection industry. This turf protection market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The turf protection market size has grown strongly in recent years. It will grow from $6.52 billion in 2023 to $6.87 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The expansion observed during the historical period can be ascribed to the growth of the biopharmaceutical industry, advancements in therapeutics, increasing public health concerns, investments in research and development (R&D), and a rising incidence of viral infections.
The turf protection market size is expected to see steady growth in the next few years. It will grow to $8.21 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. The anticipated expansion in the forecast period can be linked to the demand for vaccine production, the advancement of cell and gene therapies, the growth of the bioprocessing industry, the globalization of clinical trials, a heightened focus on personalized medicine, and an increased emphasis on environmental sustainability. Noteworthy trends expected in the forecast period encompass the digitalization and automation of processes, collaborations between public and private entities, the adoption of single-use technologies, addressing viral safety in cell and gene therapies, and the implementation of risk mitigation strategies.
The anticipated surge in the turf protection market is attributed to the growing emphasis on sports. Sports, characterized by physical and mental skills, primarily revolve around competition or social participation. Turf protection is predominantly utilized on sports fields or stadiums as an artificial surface resembling and performing such as real grass. It aids in water drainage, minimizes required storage space, and prevents damage. As an illustration, in September 2022, the University Campus of Football Business (UCFB) Limited reported that the sports sector in the UK is estimated to be valued at $39 billion, with a projected average annual income expansion of 9.15% between 2022 and 2026. Additionally, in January 2023, the Sports & Fitness Industry Association revealed that sports participants in the US increased from 67 million in 2020 to 68.3 million in 2021, marking a 1.8% rise. Consequently, the escalating focus on sports is propelling the turf protection market's growth.
The escalating count of educational universities is anticipated to drive the growth of the turf protection market. Educational universities, commonly referred to as universities, are higher education institutions offering diverse academic programs, including undergraduate and postgraduate degrees, and conducting research across various fields. Turf protection is essential for universities to preserve aesthetic appeal, enhance durability, promote environmental sustainability, maintain the functionality of outdoor spaces, achieve cost savings, comply with regulations, and ensure a positive experience for students. For example, as of January 2023, the Ministry of Education, a government agency in India, reported a growth of 70 universities and an expansion of 1,453 colleges in the period from 2020 to 2021. Consequently, the increasing number of educational universities is a driving force behind the growth of the turf protection market.
The turf protection market is witnessing a notable trend of increased focus on product innovation. Leading companies in this market are actively engaged in the development of inventive products to enhance their market positioning. For example, in May 2021, BASF SE, a chemical company based in Germany, unveiled the insecticide Alucion 35 WG, specifically designed for use on golf courses. This insecticide effectively controls a broad spectrum of surface-feeding insects, including nuisance ants, plant-eating ground bugs, caterpillars, and yearly bluegrass beetles. Alucion 35 WG stands out as the sole pyrethroid-containing insecticide for golf courses with a non-restricted use label. It features an excellent formulation that facilitates easy mixing and handling, contributing to the maintenance of healthy greens and uninterrupted play.
Prominent players in the turf protection market are also investing in new technologies, such as formulation technologies, to gain a competitive advantage. Formulation technology involves a systematic and scientific approach applied in the development, design, and manufacturing of various formulations across industries such as pharmaceuticals, cosmetics, and agrochemicals. As an illustration, in July 2023, Syngenta AG, an agrichemical company based in Switzerland, introduced the Tuque exoGEM fungicide, utilizing advanced formulation technology to prevent snow mold on golf courses. This cutting-edge solution offers rapid and long-lasting protection for turf during winter weather extremes. The innovative exoGEM formulation enhances the efficacy of active ingredients, including SOLATENOL technology and fludioxonil, resulting in improved rainfastness and quicker plant protection. With the GreenTrust 365 Snow Mold Guarantee, Tuque exoGEM provides golf course superintendents with a reliable tool for snow mold prevention, ensuring minimal disruption during spring openings. Furthermore, its versatility extends to comprehensive disease control, including anthracnose, leaf spots, and brown ring patch, when used in combination with other Syngenta fungicides.
In April 2021, Signature Systems Group LLC., a US-based manufacturer and distributor of innovative composite matting solutions, successfully acquired Matrax LLC. for an undisclosed amount. This strategic acquisition aims to broaden Signature Systems Group LLC.'s product line, diversify its clientele and end markets significantly, and elevate its product service platform to a global scale. Matrax LLC., based in the US, specializes in manufacturing high-density, light-duty plastic mats that provide effective turf protection and ground protection.
Major companies operating in the turf protection market report are Backyard Organics LLC, Corebiologic LLC, Eco Sustainable Solutions Ltd., Epicore Bionetworks Inc., Evans Turf Supplies Ltd., FMC Corporation, Idemitsu Kosan Company Ltd., Nuturf Pty. Ltd., Dow Agro Sciences LLC, Pure Ag LLC, Syngenta AG, AMVAC Chemical Corporation, BASF SE, Bayer AG, UPL Limited, The Andersons Inc., Lallemand Inc., Lucerne biotech, Soil Technologies Corp., TeraGanix, SePro Corporation, Liphatech Inc., Precision Laboratories LLC, Corteva Inc., Sumitomo Chemical Australia, ADAMA Ltd., Verdegaal Brothers Inc., Certis LLC, Isagro S.p.A., Valent Biosciences LLC
North America was the largest region in the turf protection market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global turf protection market during the forecast period. The regions covered in the turf protection market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the turf protection market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The turf protection market consists of sales of fungicides, turf colorants, spray pattern indicators, and turf blankets. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.