Sports Composites Market Forecasts to 2028 – Global Analysis By Resin Type (Epoxy, Polyamide), Fiber Type (Carbon, Glass), Manufacturing Process (Filament Winding, Infusion), Product (Boron Fiber, Carbon Fiber) and By Geography
According to Stratistics MRC, the Global Sports Composites Market is accounted for $4.17 billion in 2021 and is expected to reach $6.62 billion by 2028 growing at a CAGR of 6.8% during the forecast period. Sports composites are the fibers used for manufacturing sports equipment to upsurge its strength, decrease the cost, and decrease its weight. A composite material is a combination of two or more materials and is used in sports equipment. It has an excellent shock absorption capacity, which is why it is commonly used as a raw material in the manufacturing of sports equipment.
Growing Demand for Lightweight Materials
The composites deliver high strength-to-weight capabilities in contrast with other traditional materials such as titanium, alloy, high tensile strength steels, and others, thus helping create increasingly efficient and variety in designs. Carbon fiber and glass fiber are seen as substitutes for these traditional materials as they are lightweight, provide good mechanical performance, and offer variety in designs, strength, stiffness, and others. Sports goods manufacturers are increasingly using carbon fiber. These composites are majorly used in the manufacture of skis & snowboards and hockey sticks. Apart from these applications, they are also used in bicycles, rackets, and others. For instance, the use of composites in tennis rackets reduces the weight and increases the sweet spot size; in hockey sticks, they reduce weight and adjust the kick point to increase energy transfer; in fishing rods, they reduce weight and increase the sensitivity and accuracy. Increased efficiency and low weight have always been the foremost drivers for utilizing composites in sports goods as they boost athletic performance and lower the danger of injury.
Costs of raw and secondary materials have consistently increased along with increased freight and logistics costs and packaging costs which have resulted in a surge in the prices of resins. General-purpose products are cheaper than specialty products. Specialty products compete to a greater extent on the basis of performance rather than price, as compared with general-purpose or commodity products. The prices of glass fiber are increasing, which is expected to restrict the growth of the market. For instance, companies such as Owens Corning and Certex have increased the prices of glass fibers. The ongoing advancements in the manufacturing process in line with the increasing production of glass fiber are expected to reduce the prices of glass fiber.
Growing Demand for Composites for New Sports Goods Applications
The sports goods are necessary to be manufactured in altered sizes and shapes liable upon the sport. The several properties of composites such as low density, high tensile modulus, and lightweight make them appropriate for several sports goods applications such as tennis rackets, golf shafts, fishing poles, skis, snowboards, hockey sticks, and bicycle frames. Composites are finding new uses in several sports goods applications such as wheel-tire systems, fitness equipment, softballs, bats, baseballs, helmets, cycling shoes, boots, apparel for both, alpine and Nordic skiing, clothing and protective wear, footwear, and others. This is because composites offer compression and lateral stability as well as are lightweight and have high strength and durability.
Concerns Related to Recycling
The use of composites in several end-use industries helps decrease weight and raises performance. A difficulty in recycling composites is a major threat faced by composite manufacturers. Most of the composites used are disposed of at landfills. Many of the European Union countries have forbidden landfilling composite wastes. Altogether, companies are trying to reduce global warming and exploring the potential of composites in reducing greenhouse gas emissions. But, difficulties in recycling glass fiber-reinforced composites are a stumbling block, where the pressure to recycle is high.
Polyamide segment is expected to be the largest during the forecast period
The polyamide resin segment is expected to witness largest growth rate, due to the growing demand for hockey sticks. Moreover, properties characteristics of polyamide comprising improved energy transfer are expected to propel demand. Polyamide resin is castoff as a strengthening material in the blade of the hockey stick as it shields the blade from damage by high impact collisions, keeping the weight of the stick at a minimum.
The Bicycles segment is expected to have the highest CAGR during the forecast period
The bicycle segment is expected to witness high growth over the forecast period, due to the increasing demand for lightweight bicycles in competitive sports as well as recreation activities. Moreover, substantial weight decrease advances bike control due to the use of carbon composites in the bicycle frames. Also, the increasing demand for carbon-reinforced bicycle frames due to a decrease in cost is expected to drive the demand over the forecast period. The increasing use of glass-reinforced plastics as a protective layer in skis and snowboards results in better control of the boards by the players. In addition, the use of glass composites in skis results in better geometry, lower equipment cost, and lower instances of bond failures which are expected to drive the market growth over the forecast period.
Region with highest share:
The North America is projected to hold the highest market share; due to the growing demand for composite sports equipment in this province, high technological advancement is important to increase the use of composites for numerous sports equipment such as lacrosse sticks and polo sticks. Moreover, the growing demand for artificial turf for American football, basketball courts, and golf is expected to drive growth over the forecast period.
Region with highest CAGR:
Asia Pacific is projected to have the highest CAGR, owing to the rising demand for superior performance products in the snowboard applications, availability of low-cost labor, and growing demand from the golf stick applications in this province. China & Taiwan are the leading manufacturers of sports composites goods in the Asia Pacific and worldwide. This growth can be accredited to the obtainability of raw materials and labor at reduced costs, especially in Greater China i.e., China, Hong Kong, Macau, and Taiwan. Additionally, Japan is a major producer of carbon fiber composites, which is also one of the factors for the growth of the market in this province, due to the existence of a large number of well-established players in China & Taiwan. Besides this, the major manufacturers of glass and carbon fibers are concentrated in the Asia Pacific.
Key players in the market:
Some of the key players profiled in the Sports Composites Market include Amer Sports (Finland), ALDILA, Inc. (US), Rossignol (France), Newell Brands (US), Ficher Sports (Austria), Topkey Corporation (Taiwan), Fujikura Composites (Japan), Callway Golf (US), True Temper (US), Prokennex (Taiwan), Toray Industries (Japan), Teijin Ltd. (Japan), Hexion Inc. (US), SGL Carbon.
In July 2019: Teijin Limited acquired Benet Automotive s.r.o. to expand European Automotive Business. Benet has strategic proximity to the central and eastern regions of the European market where key German and other European OEMs operate production facilities. The company’s well-proven supply record will provide a solid foundation for Teijin to further strengthen its solution development capabilities and sales channels in Europe
In January 2021: SGL carbon launched a USD 4.5 million expansion project at its Arkadelphia, AR plant with a plan to increase its capacity for carbon composites. The expansion is expected to become operational by the end of the year. SGL Carbon operates 31 production facilities in Europe, Asia, and North America. This expansion is expected to boost the growth of the sports composites market
In January 2021: Amer Sports signed an agreement with Peloton Interactive Inc. for the contemplated sale of Precor, the manufacturer of commercial fitness equipment with a significant manufacturing presence in the US.
In November 2018: Toray Industries Inc. developed TORAYCA® MX Series carbon fibers with high tensile modulus and high compressive strength to introduce prepreg to a variety of applications.
Resin Types Covered:
• Vinyl Ester
Fiber Types Covered:
Manufacturing Processes Covered:
• Filament Winding
• Prepreg Layup
• Wet Layup
• Boron Fiber
• Carbon Fiber
• Fiber Glass
• Other Products
• Golf Sticks
• Hockey Sticks
• Skis & Snowboards
• Fishing Rods
End Users Covered:
• Tennis Racquets
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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1 Executive Summary
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
3 Market Trend Analysis
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Sports Composites Market, By Resin Type
5.6 Vinyl Ester
6 Global Sports Composites Market, By Fiber Type
7 Global Sports Composites Market, By Manufacturing Process
7.2 Filament Winding
7.4 Prepreg Layup
7.5 Wet Layup
8 Global Sports Composites Market, By Product
8.2 Boron Fiber
8.3 Carbon Fiber
8.4 Fiber Glass
8.5 Other Products
8.5.2 Man-Made Fibers
8.5.3 Silicon Carbide
9 Global Sports Composites Market, By Application
9.2 Golf Sticks
9.5 Hockey Sticks
9.6 Skis & Snowboards
9.7 Fishing Rods
10 Global Sports Composites Market, By End User
10.5 Tennis Racquets
11 Global Sports Composites Market, By Geography
11.2 North America
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.5 Other Key Strategies
13 Company Profiling
13.1 Amer Sports (Finland)
13.2 ALDILA, Inc. (US)
13.3 Rossignol (France)
13.4 Newell Brands (US)
13.5 Ficher Sports (Austria)
13.6 Topkey Corporation (Taiwan)
13.7 Fujikura Composites (Japan)
13.8 Callway Golf (US)
13.9 True Temper (US)
13.10 Prokennex (Taiwan)
13.11 Toray Industries (Japan)
13.12 Teijin Ltd. (Japan)
13.13 Hexion Inc. (US)
13.14 SGL Carbon
List of Tables
1 Global Sports Composites Market Outlook, By Region (2020-2028) (US $MN)
2 Global Sports Composites Market Outlook, By Resin Type (2020-2028) (US $MN)
3 Global Sports Composites Market Outlook, By Epoxy (2020-2028) (US $MN)
4 Global Sports Composites Market Outlook, By Polyamide (2020-2028) (US $MN)
5 Global Sports Composites Market Outlook, By Polypropylene (2020-2028) (US $MN)
6 Global Sports Composites Market Outlook, By Polyurethane (2020-2028) (US $MN)
7 Global Sports Composites Market Outlook, By Vinyl Ester (2020-2028) (US $MN)
8 Global Sports Composites Market Outlook, By Fiber Type (2020-2028) (US $MN)
9 Global Sports Composites Market Outlook, By Carbon (2020-2028) (US $MN)
10 Global Sports Composites Market Outlook, By Glass (2020-2028) (US $MN)
11 Global Sports Composites Market Outlook, By Manufacturing Process (2020-2028) (US $MN)
12 Global Sports Composites Market Outlook, By Filament Winding (2020-2028) (US $MN)
13 Global Sports Composites Market Outlook, By Infusion (2020-2028) (US $MN)
14 Global Sports Composites Market Outlook, By Prepreg Layup (2020-2028) (US $MN)
15 Global Sports Composites Market Outlook, By Wet Layup (2020-2028) (US $MN)
16 Global Sports Composites Market Outlook, By Product (2020-2028) (US $MN)
17 Global Sports Composites Market Outlook, By Boron Fiber (2020-2028) (US $MN)
18 Global Sports Composites Market Outlook, By Carbon Fiber (2020-2028) (US $MN)
19 Global Sports Composites Market Outlook, By Fiber Glass (2020-2028) (US $MN)
20 Global Sports Composites Market Outlook, By Other Products (2020-2028) (US $MN)
21 Global Sports Composites Market Outlook, By Carbide (2020-2028) (US $MN)
22 Global Sports Composites Market Outlook, By Man-Made Fibers (2020-2028) (US $MN)
23 Global Sports Composites Market Outlook, By Silicon Carbide (2020-2028) (US $MN)
24 Global Sports Composites Market Outlook, By Application (2020-2028) (US $MN)
25 Global Sports Composites Market Outlook, By Golf Sticks (2020-2028) (US $MN)
26 Global Sports Composites Market Outlook, By Rackets (2020-2028) (US $MN)
27 Global Sports Composites Market Outlook, By Bicycles (2020-2028) (US $MN)
28 Global Sports Composites Market Outlook, By Hockey Sticks (2020-2028) (US $MN)
29 Global Sports Composites Market Outlook, By Skis & Snowboards (2020-2028) (US $MN)
30 Global Sports Composites Market Outlook, By Fishing Rods (2020-2028) (US $MN)
31 Global Sports Composites Market Outlook, By By End User (2020-2028) (US $MN)
32 Global Sports Composites Market Outlook, By Bicycles (2020-2028) (US $MN)
33 Global Sports Composites Market Outlook, By Frames (2020-2028) (US $MN)
34 Global Sports Composites Market Outlook, By Skis (2020-2028) (US $MN)
35 Global Sports Composites Market Outlook, By Tennis Racquets (2020-2028) (US $MN)
Note- Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
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