Growth opportunities in the sports composites market look promising over the next six years. This is mainly due to the high demand for lightweight materials in sports equipment, accelerating demand for durable materials used in the production of skis, rackets, etc., and expanding usage of composite materials in various applications.
Sports Composites Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The factors supporting the growth of the global sports composites market include the surging use of composite materials in several applications and the huge demand for lightweight sports equipment materials. The increasing demand for durable materials used in the production of rackets, hoverboards, and skis is another factor that aids in market growth. Moreover, manufacturers worldwide are producing advanced sports equipment to ensure the safety of end-users from occupational health hazards.
The trend to adopt a healthy and fit lifestyle is directly accelerating the demand for sports equipment used at the time of physical exercise, thereby augmenting the market’s growth opportunities in the near future. The leading manufacturers are engaged in innovations to expand their product portfolios with lightweight and better-strength products, thus attracting many new customers in the market. Also, the growing use of carbon fiber in textile and prepreg in various sports applications will further propel the market growth.
However, the high cost of composites compared to other materials, like plastics, metals, and other polymers may hinder the growth of the global sports composites market. Furthermore, the widespread COVID-19 pandemic, originated in China, is suppressing the market growth owing to the cancellation or suspension of different sports events and professional leagues to be held around the world.
Application Segment Drivers
Based on the application, golf stick is anticipated to lead the market during the forecast period, attributed to the rising use of composites to design golf shafts and reduce the shaft mass. On the other hand, the bicycle application is also predicted to grow at a faster CAGR because of the huge demand for lightweight bicycles competitive sports and recreation activities over the forecast period. The expanding demand for carbon-reinforced bicycle frames because of the reduction in the cost will further bolster the market growth.
Regional Drivers
On the basis of region, North America is anticipated to dominate the market over the forecast period because of the growing demand for artificial turf for American football, basketball courts, and golf and the use of composites in many sports equipment, including lacrosse sticks and polo sticks. On the other edge, the Asia-Pacific region is projected to expand at a higher CAGR in the global sports composites market due to the availability of low-cost labor, rising demand for superior performance products in the snowboard applications and increasing demand for golf stick applications in this region. Moreover, the easy availability and expansion of raw materials will further boost the Asia-Pacific region’s sports composites market.
Sports Composites Market’s leading Manufacturers:
- Rossingol
- Teijin Limited
- Jarden Corporation
- Aldila Inc.
- Fischer Sports GmbH
- I. du Pont de Nemours and Company
- SGL Group
- Toray Industries Inc.
- Topkey Corporation
- Hexion Inc.
Sports Composites Market Segmentation:
Segmentation by Resin:
- Epoxy
- Polyurethane
- Polyamide
- Polypropylene
- Others
Segmentation by Application:
- Golf Clubs
- Hockey Sticks
- Rackets
- Bicycle
- Skis & Snowboards
- Others
Segmentation by Fiber Type:
- Carbon Fiber
- Glass Fiber
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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