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 report by Grand View Research : 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
o
U.S.
o
Canada
o
Mexico
·
Europe
o
Germany
o
UK
o
Spain
·
Asia
Pacific
o
China
o
India
o
Japan
·
Latin
America
o
Brazil
·
Middle
East & Africa
o
South
Africa
View 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.
For more information: www.grandviewresearch.com
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