Global Sports Composites Market 2023

Description
Sports composites are materials used in the manufacturing of sports equipment and gear. These composites are made by combining two or more distinct materials to create a composite material with enhanced properties. The global sports composites market was analyzed to be 912.0 thousand tons in 2022 and is projected to reach 1,197.0 thousand tons by 2029, with a compound annual growth rate (CAGR) of 4.09% during the forecast period of 2023-2029.

One of the key advantages of sports composites is their superior performance characteristics compared to traditional materials like metal or wood. These composites offer a combination of strength, stiffness, and lightweight properties, which can significantly improve the performance of athletes. By using composites in sports equipment, such as tennis rackets, golf clubs, and bicycle frames, athletes can achieve better speed, agility, and power, leading to enhanced overall performance.

Weight reduction plays a critical role in the design of sports equipment, and sports composites excel in this aspect. These composites are lightweight while maintaining strength and durability. The use of lighter equipment can greatly improve maneuverability, reduce fatigue, and enhance performance. For instance, carbon fiber composites are commonly utilized in the construction of lightweight bicycle frames, reducing the weight of the bike and improving its handling characteristics.

In addition to weight reduction, sports composites offer other significant benefits. They can provide increased durability and resistance to impact, making them ideal for sports equipment that undergoes rigorous use. The versatility of sports composites allows for the customization of equipment based on specific performance requirements. Manufacturers can tailor the composition and design of composites to meet the needs of different sports, ensuring optimal performance and safety.

Furthermore, sports composites have the advantage of being corrosion-resistant, which is particularly beneficial for equipment used in outdoor sports or in contact with moisture and sweat. This corrosion resistance helps prolong the lifespan of the equipment and maintain its performance over time.

The use of sports composites is not limited to professional athletes. These materials have also made sports equipment more accessible to recreational players. The affordability and availability of composites have allowed manufacturers to create high-quality, durable, and performance-enhancing equipment for a wider range of users.

The report covers market size and growth, segmentation, regional breakdowns, competitive landscape, trends and strategies for global sports composites market. It presents a quantitative analysis of the market to enable stakeholders to capitalize on the prevailing market opportunities. The report also identifies top segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Market Segmentation
Product: carbon-fiber reinforced composites, glass-fiber reinforced composites, others
Application: bicycles, golf shafts, hockey sticks, rackets, snowboards and skis, others
Region: Asia-Pacific, Europe, North America, Middle East and Africa (MEA), South America

This comprehensive industry report provides market estimates and forecasts for the global sports composites market, along with a detailed analysis of its various segments, including product, application, and region.

The global sports composites market can be segmented based on product into three categories: glass-fiber reinforced, carbon-fiber reinforced, and others. Among these, the glass-fiber reinforced segment emerged as the largest share contributor to the sports composites market in 2022. Glass-fiber reinforced composites are widely used in the sports industry due to their excellent strength-to-weight ratio, impact resistance, and affordability.

Furthermore, the sports composites market is segmented by application, encompassing golf shafts, hockey sticks, rackets, bicycles, skis and snowboards, and others. In 2022, the segment that made the most significant contribution to the global sports composites market was skis and snowboards. This can be attributed to the increasing popularity of winter sports and the demand for lightweight yet durable equipment in this sector.

Geographically, the sports composites market is divided into five regions: Asia-Pacific, Europe, North America, Middle East and Africa (MEA), and South America. Among these regions, Asia-Pacific is projected to hold the largest market share in the global sports composites market. The rapid growth of this region can be attributed to factors such as the rising disposable income of the population, growing sports activities and infrastructure development, and the presence of major manufacturers in countries like China and Japan.

Major Companies and Competitive Landscape
The report provides a comprehensive analysis of the Global Sports Composites Market, focusing on recent developments and profiling key vendors operating within the industry. The key players highlighted in the report include renowned companies such as Celanese Corporation, Exel Composites Oyj, Formosa Plastic Group, Hexcel Corporation, Jiangsu Hengshen Co., Ltd., Mitsubishi Chemical Corporation, Rock West Composites Inc., SGL Carbon SE, Teijin Limited, Topkey Corporation, Toray Industries Inc., Zhongfu Shenying Carbon Fiber Co., Ltd., among others.

Scope of the Report
To analyze and forecast the market size of the global sports composites market.
To classify and forecast the global sports composites market based on product, application, region.
To identify drivers and challenges for the global sports composites market.
To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the global sports composites market.
To identify and analyze the profile of leading players operating in the global sports composites market.

Why Choose This Report
Gain a reliable outlook of the global sports composites market forecasts from 2023 to 2029 across scenarios.
Identify growth segments for investment.
Stay ahead of competitors through company profiles and market data.
The market estimate for ease of analysis across scenarios in Excel format.
Strategy consulting and research support for three months.
Print authentication provided for the single-user license.

Global Sports Composites Market 2023

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Global Sports Composites Market 2023 - Report Scope
REPORT ATTRIBUTE

DETAILS

Market Size (2022)

912 thousand tons

Base Year

2022

Forecast Year

2023-2029

CAGR (2023-2029)

4.09%

Pages

87

Segments By

Product, Application, Region

Regions Covered

Asia-Pacific, Europe, North America, Middle East and Africa (MEA), South America

Key Players

Celanese Corporation, Exel Composites Oyj, Formosa Plastic Group, Hexcel Corporation, Jiangsu Hengshen Co. Ltd., Mitsubishi Chemical Corporation, Rock West Composites Inc., SGL Carbon SE, Teijin Limited, Topkey Corporation, Toray Industries Inc., Zhongfu Shenying Carbon Fiber Co. Ltd.

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