The impact of COVID-19 pandemic can be felt across the chemical industry. The growing inability in the production and manufacturing processes, in the light of the self-quarantined workforce has caused a major disruption in the supply chain across the sector. Restrictions encouraged by this pandemic are obstructing the production of essentials such as life-saving drugs.
The nature of operation in chemical plants that cannot be easily stopped and started, makes the operational restrictions in these plants a serious concern for the industry leaders. Restricted and delayed shipments from China have created a price hike in the raw materials, affecting the core of the chemicals industry.
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The slacking demand from different impacted industries such as automotive is negatively influencing the growth of the chemical industry. In light of the current crisis, the market leaders are focused to become self-reliant which is expected to benefit the economic growth of different economies in the longer term. Companies are triggering events to restructure and recover from the losses incurred during the COVID-19 pandemic.
PMR delivers key insights on the global playground surface materials market in its revised report titled ‘Playground Surface Materials Market: Global Industry Analysis 2013–2017 and Forecast 2018–2026’. The long-term outlook on the global playground surface materials market is anticipated to remain positive with the market value expected to increase at a CAGR of 6.2% over the forecast period. On the basis of site, the outdoor segment is expected to account for a high share during the forecast period, owing to the growing demand for playground surface materials from the construction of new stadiums and sports facilities.
The consumption of playground surface materials in the global market is estimated to reach US$ 3,887.9 Mn by the end of 2018, witnessing a Y-o-Y growth of 4.2% over 2017. Europe and China together are expected to account for more than 2/5th of the global playground surface materials market by the end of 2026. Asia-Pacific excluding China is expected to witness significant growth in the global playground surface materials market over the forecast period.
Playground Surface Materials Market: Dynamics
Growing utilization of artificial turfs in various commercial sport complexes across North America and Europe is expected to assist the growth of the playground surface materials market in the coming years. Various factors such as increasing need for water conservation, unfavorable conditions for natural grass and rising number of sports events have been driving the growth of the playground surface materials market in the recent past.
The requirement of skilled labor for the installation of playground surface materials such as artificial turf is noted to be a key challenge identified in the global playground surface materials market. Proper installation is key for playground surfaces and all playground surface materials must be installed to proper specification in order to eliminate issues regarding irrigation and drainage.
Key manufacturers involved in the global playground surface materials market are focusing on mergers & acquisitions in order to strengthen their shares in the market across the globe. For instance, Koninklijke Ten Cate bv has announced various acquisitions of synthetic turf suppliers and installation companies that primarily specialize in the maintenance and construction of synthetic sports fields.
Playground Surface Materials Market: Forecast
On the basis of material type, market insights suggest that the rubber segment will account for a high share in the playground surface materials market throughout the forecast period. The artificial turf segment is pegged to be followed by the rubber, engineered wood fiber segment. Growing construction of new playgrounds, supported by various upcoming events such as 2020 Summer Olympics and 2022 FIFA World Cup are anticipated to assist the demand for playground surface materials such as artificial turf in the near future.
The Europe playground surface materials market is expected to register high sales during the forecast period and remain a high value market. The Asia Pacific Excluding China region is expected to grow at a significant rate in the global playground surface materials market over the forecast period. Latin America and North America markets, together, are expected to account for more than 1/5th of the overall incremental opportunity created during the forecast period.
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Playground Surface Materials Market: Competitive Landscape
Some of the market participants included in the report on the playground surface materials market are
- Koninklijke Ten Cate bv
- Zeager Bros. Inc.
- The Fibar Group LLC
- Challenger Industries, Inc.
- All Victory Grass (Guangzhou) Co., Ltd.
- Tarkett S.A.
- Polytan GmbH
- PlayCore, Inc.
- Accella Polyurethane Systems
- Surface America, Inc.
- LTR Products LLC
The global playground surface materials market is fragmented in nature, owing to the presence of a large number of players across the globe. Some of the manufacturers involved in the playground surface materials market are focusing on new product developments in order to meet the fast-changing market requirements.