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.
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summary of this report @ 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.
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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
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more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/specialty-glass-ceramic-and-fiber
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, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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