Sports Composites Market To Be Fuelled By increasing use for manufacturing sports
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.
Germany sports composites market revenue, by material, 2013 - 2024 (USD Million) |
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.
Full Research Report On Global Sports
Composites Market Analysis:
http://www.grandviewresearch.com/industry-analysis/sports-composites-market
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.
View more reports of this category by Grand
View Research at:
http://www.grandviewresearch.com/industry/specialty-glass-ceramic-and-fiber
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
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- Spain
- Asia
Pacific
- China
- India
- Japan
- Latin
America
- Brazil
- Middle
East & Africa
- South
Africa
View press release of this research report by
Grand View Research:
http://www.grandviewresearch.com/press-release/global-sports-composites-market
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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