Sports Composites Market- Top Leaders, Opportunities, Future Scope, Developments, and Regional Forecast- Exclusive Report by MarketsandMarkets™
Sports Composites Market by Resin Type, Fiber Type (Carbon, Glass, and Other Fibers), Application (Golf Stick, Rackets, Bicycle, Hockey Stick, Skis & Snowboards, and Others), & by Region - Global Forecasts to 2021
The report "Sports Composites Market by Resin Type, by Fiber Type (Carbon, Glass, and Other Fibers), by Application (Golf Stick, Rackets, Bicycle, Hockey Stick, Skis & Snowboards, and Others), and by Region - Global Forecasts to 2021", The global sports composites market is projected to reach USD 3.75 Billion by 2021, registering a CAGR of 5.59% between 2016 and 2021. The major factors fueling the growth of the sports composites market are the increasing use of lightweight materials in sporting goods equipment and growing demand of composites from golf stick and racket application segments.
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Golf stick application is expected to drive the sports composites market
Composites are being used to manufacture and produce golf club shafts and club heads as these materials offer lighter weight, a high tech image to a rather affluent market, and variety of design options that are not available with traditional steel material. The use of carbon fiber or boron fiber in the designing of golf shaft decreases the shaft mass, which allows the club designer to increase the head mass while still maintaining a low overall club mass. Providing a heavier club head while keeping a lower overall club mass helps the golfer to swing the club faster, resulting in increased carry distance. Thus, the innovation in the golf comprising lightweight shafts, oversized heads, and larger sweet spots have opened the game to broader group of players at numerous ability levels.
Asia-Pacific is the key region for the sports composites market
The Asia-Pacific region is expected to be the largest market for composites-based sporting goods due to the increased demand from skis & snowboards, golf stick, racket, and bicycle applications. In addition, easy availability of raw materials, low labor costs, growing manufacturing industries, new product developments, capacity expansions, and new plant establishments by various leading players are few factors leading to the growth of the sports composites market in this region.
Carbon fiber: The largest fiber type for composite-based sporting goods
Carbon fiber composites are lightweight and strong, therefore, used in a range of applications in the sports composites market. They are usually used for reduced weight and increased tensile strength, durability, impact absorption, resistance, and stiffness. In sporting goods applications, carbon fiber is used both in the form of textile and prepreg. The major application where carbon fiber is widely used includes golf stick, bicycle, and rackets. Apart from these applications, they are also employed in skis & snowboards, hockey stick, and other applications
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Some of the leading manufacturers of composite-based sporting goods include Aldila Inc. (U.S.), Amer Sports (Finland), Jarden Composites (U.S.), ProKennex (Taiwan), Fischer Sports GmbH (Austria), Topkey Corporation (Taiwan), and Rossignol (France). Some of the raw material suppliers profiled are E. I. du Pont de Nemours and Company(U.S.), Hexion Inc. (U.S.), Toray Industries Inc. (Japan), and SGL Group (Germany). These players adopted various organic and inorganic developmental strategies.
This report covers the market by value and volume for composites-based sporting goods and forecasts the market size until 2021. The report includes the market segmentation by resin type, by fiber type, by application, and by region. It also provides company profiles and competitive strategies adopted by the major market players in the global sports composites market.
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