San Francisco, 6 March 2019: The Report Sports Composites Market Analysis By Resin (Epoxy, Polyurethane, Polyamide,
Polypropylene), By Material (Carbon, Glass), By Application (Golf Clubs, Hockey
Sticks, Rackets, Bicycles, Skis & Snowboards) And Segment Forecasts To 2024
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.
Access Research Report of Sports Composites Market @ 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 at: 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
·
Europe
·
Asia Pacific
·
Latin America
·
Middle East & Africa
Access Press Release of
Sports Composites Market@ 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.
