REPORT ATTRIBUTE | DETAILS |
---|---|
MARKET SIZE (2032) | USD 7.1 Billion |
MARKET SIZE (2023) | USD 3.72 Billion |
CAGR (2023-2029) | 4.5% |
HISTORIC YEAR | 2019 |
BASE YEAR | 2023 |
FORECAST YEAR | 2032 |
BY TYPE | Carbon Fiber Composites Glass Fiber Composites Aramid Fiber Composites Ceramic Matrix Composites Others |
BY APPLICATION | Rackets & Paddles Bicycles & Skis Golf Shafts & Clubs Hockey Sticks & Helmets Surfboards & Snowboards Others |
GEOGRAPHIC ANALYSIS | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
KEY PLAYERS | Hexcel Corporation, Toray Industries, Inc., Teijin Limited, SGL Carbon SE, Mitsubishi Chemical Corporation, Gurit Holding AG, Axiom Materials, Inc., Solvay S.A., Plasan Carbon Composites, ELG Carbon Fibre Ltd., Barrday Composite Solutions, Park Electrochemical Corp., Owens Corning, TenCate Advanced Composites, Hexion Inc.. |
Introduction:
The sports composites market represents an important segment of the wider composites industry and is tailored specifically for sports equipment and accessories. Composites, which consist of fibers such as carbon, glass or aramid embedded in a resin matrix, offer an exceptional strength-to-weight ratio and durability. These materials are widely used in sports equipment such as tennis rackets, golf shafts, hockey sticks, bicycle frames and skis.
Sports Composites Market size was valued at USD 3.72 Billion in 2023 and expected to reach USD 7.1 Billion by 2032, growing at CAGR of 4.5% during 2024-2032.
The most important factors in the market of sports compounds are the demand for light and efficient equipment that improves the performance and endurance of the athlete. Advances in composite manufacturing methods such as automated application processes and resin infusion techniques improve product quality and uniformity. In addition, the growing interest in sustainable and environmentally friendly materials in the manufacture of sports equipment encourages innovations in the field of bio-based and recyclable compounds.
Industry Insights:
Growing demand for sustainable materials in the manufacturing of rackets, skis and hoverboards will drive growth during the forecast period. In addition, investments in the development of new products that increase the strength and power of hockey sticks and golf clubs while reducing overall weight will increase the demand for carbon composites. In addition, increasing use of carbon fiber in the form of prepreg and textiles in various sports applications is estimated to drive demand.
Composite materials used in the production of sports equipment are segmented based on the technology used in the production of carbon fiber. The increased use of continuous processing technology used in the manufacture of fiberglass (GRP) is expected to increase the production of equipment such as skis, snowboards and longboards.
Key Players:
Hexcel Corporation
Toray Industries, Inc.
Teijin Limited
SGL Carbon SE
Mitsubishi Chemical Corporation
Gurit Holding AG
Axiom Materials, Inc.
Solvay S.A.
Plasan Carbon Composites
ELG Carbon Fibre Ltd.
Barrday Composite Solutions
Park Electrochemical Corp.
Owens Corning
TenCate Advanced Composites
Hexion Inc.
Market Segmentation:
By Type:
Carbon Fiber Composites
Glass Fiber Composites
Aramid Fiber Composites
Ceramic Matrix Composites
Others
By Application:
Rackets & Paddles
Bicycles & Skis
Golf Shafts & Clubs
Hockey Sticks & Helmets
Surfboards & Snowboards
Others
By Region:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Market Opportunities:
Lightweight Materials for Better Performance: Composite materials provide an excellent strength-to-weight ratio, allowing the use of lighter tools such as tennis rackets, golf clubs and bicycles. It improves the player's performance by improving speed, agility and endurance.
Durability and Longevity: Sports equipment made from composite materials such as carbon fiber reinforced plastic (CFRP) has better durability and wear resistance than traditional materials such as metal or wood. This durability means a longer product life cycle and lower replacement costs.
Customization and Design Flexibility: Composite materials allow advanced design and customization to meet specific performance requirements of athletes. Manufacturers can create products with different stiffness, flexibility and impact resistance for different sports and individual preferences.
Pioneering Product Development: Continuous research and development of compounds allows the creation of improved sports equipment with new functions. This includes integrating sensors to monitor performance, improve aerodynamics and improve power transfer efficiency.
Environmental Sustainability: The growing emphasis on sustainability is encouraging the adoption of bio-based and recycled composites in the manufacturing of sports equipment. These materials reduce the environmental footprint, attract environmentally conscious consumers and regulate sustainable practices.
Expansion in Emerging Markets: The growth of sports participation worldwide, especially in emerging economies, is increasing the demand for high-performance equipment. This provides an opportunity for market expansion and penetration into new geographic areas.
Collaborations and Partnerships: Partnerships between composite material suppliers, sports equipment and sports federations drive innovation and accelerate product development. Collaboration can lead to the creation of state-of-the-art solutions that meet the changing needs of the market.
Health and Safety Innovations: Advanced composite materials contribute to safer sports equipment by improving shock absorption and reducing the risk of injury. This is especially important in contact sports and activities where safety is paramount.
Consumer Education and Awareness: Increasing consumer awareness of the benefits of sports composites, such as improved performance and durability, can increase demand. Marketing that emphasizes the benefits of composites over traditional materials can influence purchase decisions.
Technological Integration of Wearables: Combining composite materials with smart technology in wearables such as smart clothes and tracking devices opens up new opportunities for market growth. These innovations provide real-time data analysis and feedback to athletes, improving training and performance.
Market Restraints:
High Cost of Raw Materials: Composite materials used in sports equipment often require advanced materials such as carbon fiber, aramid fiber and high-performance resins. These materials are expensive, which increases the cost of manufacturing sports compounds.
Complex Productions: The manufacture of sports compounds involves complex processes such as placement, curing and molding, which require special equipment and skilled work. The complexity of these processes can lead to higher production costs and longer lead times.
Regulatory Standards and Safety Compliance: Sports equipment, including composite materials, must meet strict safety, durability and performance standards. Compliance with these standards requires extensive testing and certification, which increases overall costs and time to market.
Limited Design Flexibility: Unlike metals or plastics, composite materials have limited design flexibility during the manufacturing process. This limitation can affect the ability to create complex shapes or integrate multiple functions into a single component, affecting product innovation and efficiency.
Environmental Issues: The production and disposal of composite materials can have an environmental impact due to the use of resins and fibers derived from non-renewable natural resources. Efforts to mitigate these effects, such as recycling or using bio-based materials, can complicate the production process and increase its costs.
Market Fragmentation and Competition: The sports composites market is highly competitive with many players ranging from large multinationals to niche manufacturers. Fierce competition can lead to price pressures and reduced profit margins, especially for small businesses.
Consistency of Performance and Quality Control: Maintaining consistent performance and quality between different sets of sports compounds is critical but difficult. Differences in raw materials, manufacturing processes and environmental conditions can affect product reliability and customer satisfaction.
Consumer Perception and Acceptance: Consumers may be concerned about the durability, safety and performance of composite sports equipment compared to traditional materials such as metal or wood. Overcoming these perceptions requires education and demonstrating the benefits of composites.
Sport Specific Requirements: Each sport has its own performance requirements for equipment, such as strength, stiffness, weight and impact resistance. Developing compounds to meet these special needs can be technically challenging and require custom solutions.
Recent Development:
JUNE 24, 2024 Hexcel was recently at center stage of a major announcement by Utah Governor Spencer Cox of the new Air Logistics and Transportation Alliance that plans to make Utah a major hub for a next generation of innovation in air travel – the development and public adoption of all-electric air vehicles.
June 24, 2024 Mitsubishi Tanabe Pharma Corporation (Head Office: Chuo-ku, Osaka; Representative Director: Akihiro Tsujimura; hereinafter, "MTPC"), a member of the Mitsubishi Chemical Group, today announced the discontinuation of distribution of the HGF gene therapy product, Collategene® Intramuscular Injection 4 mg (hereinafter "Collategene®").
Frequently Asked Questions (FAQs):
Q.1 What is projected size and market growth of Sports Composites Market?
Ans: Sports Composites Market size was valued at USD 3.72 Billion in 2023 and expected to reach USD 7.1 Billion by 2032, growing at CAGR of 4.5% during 2024-2032.
Q.2 What are the top players operating in the Sports Composites Market?
Ans: Hexcel Corporation, Toray Industries, Inc., Teijin Limited, SGL Carbon SE, Mitsubishi Chemical Corporation, Gurit Holding AG, Axiom Materials, Inc., Solvay S.A., Plasan Carbon Composites, ELG Carbon Fibre Ltd., Barrday Composite Solutions, Park Electrochemical Corp., Owens Corning, TenCate Advanced Composites, Hexion Inc.
Q.3 What segments are covered in the Sports Composites Market Report?
Ans: Sports Composites Market is Segmented on the basis of Type, Application, and Region.
Want to know more about the report or any specific requirement?
We asked them to research ‘ Equipment market’ all over the world, and their whole arrangement was helpful to us. Analytica.global insightful analysis and reports contributed to our current analysis and in creating a future strategy. Besides, the te
We asked them to research ‘Equipment market’ all over the world, and their whole arrangement was helpful to us. Analytica.global insightful analysis and reports contributed to our current analysis and in creating a future strategy. Besides, the te
We manage our resources 24/7 to identify issues and address them before they become problems
We are committed to providing reliable and highly accurate data with an excellent quality control system
6 Major regions and 40+ countries level analysis accomplished
Our pricing strategy is highly competitive in the market, without compensating on the quality and the timeline of project delivery