South Korea Artificial Turf Market Research Report-Ken Research

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The report facilitates the reader with the identification and in-depth analysis of the existing and future trends and issues that impacts the industry. It provides the reader an idea regarding
growth in the future depending upon changing industry dynamics in coming years.

Submitted: June 18, 2018

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Submitted: June 18, 2018

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The report titled “South Korea Artificial Turf Market Outlook to 2022 - by Organized and Unorganized, by Product Type (Polyethylene, Polypropylene, Nylon/ Polyamide and Blended) and by Application Areas (Contact Sports, Non-Contact Sports, Landscaping and Leisure)” provides a comprehensive analysis of South Korean artificial turf market introduction, market size, value chain and market segmentations by Organized and Unorganized, by Product Type (Polyethylene, Polypropylene, Nylon/ Polyamide and Blended) and by Application Areas (Contact Sports, Non-Contact Sports, Landscaping and Leisure). The report extensively covers pricing analysis, case analysis, competition scenario, market share and competitive landscape of major players including Kolon Glotech, Entoutcas, K&B Junwoo, DaeWon Green (DWG), FieldMaster and analyst recommendations.

The report facilitates the reader with the identification and in-depth analysis of the existing and future trends and issues that impacts the industry. It provides the reader an idea regarding growth in the future depending upon changing industry dynamics in coming years. The report is useful for artificial turf manufacturers, distributors, government entities, sports facilities, sports franchises and other stakeholders to plan their market centric strategies in accordance with the ongoing and expected trends in the future.

South Korea Artificial Turf Market Size and Overview

Market Overview: The market for artificial turf is at a matured stage, with a limited number of players dominating the market. In terms of revenue, the market for artificial turf has increased at a single digit CAGR during FY’2012 – FY’2017 due to both domestic and international growth factors. The share of organized players by production during FY’2012-FY’2017 increased due to capacity addition and entry of new players in the market. Additionally, a series of unorganized players have taken an exit from the market due to low volumes, thereby reducing the share of the unorganized sector in terms of production.

Market Segmentation

By Organized and Unorganized sector in Domestic Sales: Organized sector accounted for largest share of the total sales in the domestic sector and unorganized sector accounted for the rest of the sales. Increase in the number of government projects, capacity addition and renewal of interest in artificial turf is the reason for this share in the market. Major companies in the organized sector are Kolon Glotech, Entoutcas, K&B Junwoo, FieldMaster and others.

By Application: Contact Sports segment dominated the revenues in FY’2017 from demand for artificial turfs due to increasing government allocation on building facilities for soccer, baseball, hockey and others. This was followed by the Leisure segment in FY’2017. Landscaping and Non-Contact Sports contributed single digit share respectively in FY’2017.

By Product Type: Polyethylene (PE) based artificial turfs have dominated the market in 2017. PE is popular due to its durable nature, mid-range price and soft grass-like feel. The Polypropylene (PP) based artificial turfs followed PE. This was followed by Nylon/ Polyamide and Blended (double structured- Nylon+PE) in terms of revenues share.

Export of Artificial Turfs: Increasing infrastructure, better sales prices, favorable export policies along with a growing number of South Korean artificial grass manufacturers with proper certifications have led to the growth of the export market in South Korea.

Major Export Destinations for Artificial Turfs: In terms of exports, US, Australia, China, Canada and the United Kingdom are the top 5 destinations for export of South Korean artificial grass products.

Competitive Landscape

The South Korean artificial turf market is an extremely competitive market due to a mixture of increasing production of manufacturers and rising domestic demand. The competition is more pronounced in the domestic market, due to entry of a number of foreign entities who want to play a decisive role in this market. The market in South Korea is at a growth stage and with companies becoming specialized in offering products pertaining to a particular category, with the required quality standards; it presents an immense opportunity for growth. The leading companies in this space are gravitating from being a products seller to becoming a solutions seller. Competition among companies is staged on parameters pertaining to safety, experience, performance and certifications.

Future Analysis and Projections

South Korea Artificial market, in terms of revenue is expected to increase at a higher end of single digit CAGR during FY’2018-FY’2022 owing to a variety of reasons involving evolution of recyclable process for artificial turfs to raw materials for making artificial turfs being derived from bio-based materials. The nature of end user industries is also going to change and sports bodies will adapt themselves to the changing realities. This marks a behavioral shift in attitudes of people towards artificial turfs which promises to be substantial. Polyethylene based products in the market is expected to dominate and the share of contact sports is expected to grow. Thus the future of the market looks full of potential and growth.

To know more, click on the link below:

https://www.kenresearch.com/consumer-products-and-retail/home-and-office-furnishings/south-korea-artificial-turf-market/149662-95.html

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