The
global sports composites market is
expected to be valued at USD 4.58 billion by 2024, according to a new report by
Grand View Research, Inc. The market is expected to exhibit significant growth
owing to increasing demand for high-performance materials for manufacturing
lightweight as well rigid sporting goods.
Growing
replacement of traditional steel with light weight carbon fiber in golf clubs
due to increased carry distance is expected to drive the market over the
forecast period. Furthermore, increasing investment by manufacturers for the
development of durable composites in manufacturing sports equipment is expected
to bolster growth.
Carbon
fiber is expected to witness the fastest growth over the forecast period due to
its increasing use for manufacturing sports goods such as hockey sticks and
rackets. Superior properties such as high tensile strength, impact absorption,
durability, and weight reduction of the equipment offered by these materials
are likely to drive demand over the projected period.
Epoxy
based composites are expected to be the fastest growing resin segment in the
market owing to its heat resistant properties which facilitate its use in
rackets and snowboards manufacturing. Epoxy resins are widely used along with
carbon fiber for manufacturing skis, rackets, and bicycle parts.
Browse full research report on Global Sports Composites Market: http://www.grandviewresearch.com/industry-analysis/sports-composites-market
Further key findings
from the report suggest:
- Golf clubs
was the largest application for the market accounting for over 38.0% of
the revenue share in 2015. Rising popularity of the sport as a leisure
pursuit coupled with affordable and easy access to new golf courses is
likely to propel demand over the forecast period.
- Glass fiber
composites are expected to witness significant growth owing to its rising
demand for skis and snowboards application. Better strength, lower
friction and superior performance in salty seawater conditions are the key
factors driving the market demand. Furthermore, increasing demand of skis
& snowboards due to growing adoption of water sports is expected to
have a positive impact on the industry growth over the next eight years.
- Carbon
composites are expected to account for a significant share and are likely
to grow at a CAGR of over 6.0% from 2016 to 2024 owing to their rising
demand for manufacturing bicycle frames, surfboards, and skis. Moreover,
decreasing prices, increased durability and weight reduction offered by
these products are likely to drive demand.
- Asia
Pacific is estimated to grow at a CAGR of more than 6.0% from 2016 to 2024
owing to growing popularity of various sports including tennis, badminton
and golf. Rapid industrialization coupled with low labor cost and easy
availability of raw materials in the region is anticipated to drive the
industry growth over the forecast period.
- The
industry in Germany is expected to reach over USD 297 million by 2024 due
to increased adoption of carbon and glass composite materials for
manufacturing premium sports goods such as bicycles and polo sticks. The
presence of key sporting goods manufacturers in the region including
Adidas Group and Puma are likely to open new avenues for the product
market over the next eight years.
- Key players
in the industry include Aldila Inc., Jarden Composites, ProKennex, Amer
Sports, Fischer Sports GmbH, Rossignol, and Topkey Corporation. Some of
the raw material suppliers profiled are Toray Industries Inc., E. I. du
Pont de Nemours and Company, Hexion Inc., and SGL Group.
Browse more reports of this category by
Grand View Research: http://www.grandviewresearch.com/industry/specialty-glass-ceramic-and-fiber
Grand View Research has
segmented the sports composites market on the basis of resin, material,
application and region:
Sports Composites
Market Resin Outlook (Volume, Tons; Revenue, USD Million, 2013 - 2024)
- Epoxy
- Polyurethane
- Polyamide
- Polypropylene
- Others
Sports Composites
Market Material Outlook (Volume, Tons; Revenue, USD Million, 2013 - 2024)
- Carbon
- Glass
- Others
Sports Composites
Market Application Outlook (Volume, Tons; Revenue, USD Million, 2013 - 2024)
- Golf Clubs
- Hockey Sticks
- Rackets
- Bicycle
- Skis and Snowboards
- Others
Sports Composites
Market Regional Outlook (Volume, Tons; Revenue, USD Million, 2013 - 2024)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- Spain
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Middle East & Africa
- South Africa
About Grand View
Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and fact-based
research across a range of industries, from technology to chemicals, materials
and healthcare.
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