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 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
Access press release of this
research report by Grand View Research: http://www.grandviewresearch.com/press-release/global-sports-composites-market
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.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
For more information: www.grandviewresearch.com
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