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
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.