Dublin, April 05, 2022 (GLOBE NEWSWIRE) -- The "Sports Composites - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Sports Composites Market to Reach $3.7 Billion by 2026
Amid the COVID-19 crisis, the global market for Sports Composites estimated at US$2.7 Billion in the year 2020, is projected to reach a revised size of US$3.7 Billion by 2026, growing at a CAGR of 5.3% over the analysis period.
Rising physical activity for health reasons is one of the major drivers for composites demand in sports goods. Increasing adoption of durable materials for skis, hoverboards and rackets along with development of advanced products is bolstering the market expansion. The increasing reliance on continuous processing to manufacturer glass reinforced plastics (GRP) is likely to boost production of various sports equipment like snowboards, skis and longboards, creating new revenue streams for vendors.
Carbon, one of the segments analyzed in the report, is projected to record a 5.6% CAGR and reach US$2.2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Glass segment is readjusted to a revised 5% CAGR for the next 7-year period.
The carbon fibers segment occupies major share due to extensive use of the material in bicycle frames, rackets and golf clubs. The segment`s growth is also favored by increasing adoption of carbon fibers as textiles and prepreg in sports applications.
The U.S. Market is Estimated at $537.3 Million in 2021, While China is Forecast to Reach $758.8 Million by 2026
The Sports Composites market in the U.S. is estimated at US$537.3 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$758.8 Million by the year 2026 trailing a CAGR of 6.5% over the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.2% and 4.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR. The Asia-Pacific region represents a key market, driven by increasing sales of bicycles, golf sticks and high-performance products for several other applications. The market growth is bolstered by large-scale bicycle production in India and China.
The regional market is benefitting from expansion of the manufacturing industry due to availability of cheap labor and easy access to raw materials. In addition, growing popularity of sports like badminton, golf and tennis is anticipated to further push the market expansion in the coming years. Growth in the European market is augmented by increasing popularity of hockey and tennis in countries such as Germany and France along with robust demand for bicycles across Norway, the Netherlands and Sweden.
Glass (Fiber Type) Segment to Reach $1.2 Billion by 2026
Glass fiber composites are lightweight and flexible. Glass fibers are mainly used in kayaks, skis, longboards and snowboards to enhance sliding properties and offer superior strength at the time of landing. In the global Glass (Fiber Type) segment, USA, Canada, Japan, China and Europe will drive the 4.6% CAGR estimated for this segment.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- Opportunity in Disguise for Sports Composites Providers amid COVID-19
- An Introduction of Sports Composites
- Types of Fibers
- Fabric Manufacturing
- Sports Composites Supercharge High-Performance Sports
- Global Sports Composites Market to Hasten Strides and Post Gains in Long Term
- Outlook
- Carbon Fibers to Surge Ahead with Maximum Gains
- Carbon Fibers Present Compelling Option for New-Age Sporting Goods
- Polyamide Represents Primary Resin Type
- Composite Materials and Graphene
- Golf Stick and Bicycle to Remain Primary Application Segments
- World Sports Composites Market by Applications (2020 & 2027): Percentage Breakdown of Sales for Golf Stick, Bicycle, Rackets, Hockey Stick, Skis & Snowboards, and Other Applications
- Asia-Pacific Sports Composites Market to Mark Fastest Growth
- Competitive Scenario: Vendors Focus on Product Innovation to Stay Competitive in Highly Differentiated Market for Sports Composites
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 38 Featured)
- Aldila, Inc.
- Amer Sports Oyj
- DuPont de Nemours, Inc.
- Entropy Resins, Inc.
- Fischer Sports GmbH
- Hexion Inc.
- Protech Composites
- Rockwood Composites Ltd.
- Saint-Gobain Vetrotex
- SGL Carbon SE
- Topkey Corporation
- Toray Industries, Inc.
- ZOLTEK Corporation
3. MARKET TRENDS & DRIVERS
- Need for Durable & Lightweight Sports Goods Augurs Well
- Flexibility & Formability Features Augment Adoption
- Technology Innovations & Advancements Augur Well
- Sophisticated Machinery Enhances Composites Processing
- Select Innovations
- Composites Widen Footprint in the Sporting Goods Domain
- Sustained Increase in Use of Composites in Rackets
- Sophisticated Hockey Sticks with Composites
- Growing Adoption in Bicycles
- Uptrend in Bicycle Demand Favors Adoption
- Enhancing Image of Cycling as Eco-Friendly Personal Mobility Solution
- Spike in Demand for E-Bikes
- Golf Sticks: Key Consumer Segment
- Wood Plastic Composites Gain Traction
- Biodegradable Composites Seek Role
- Banana Fiber Composites
- Opportunities in Snow Skis & Snowboard Applications
- Composites for Sophisticated Surfboards
- Rising Demand for Fishing Gear Favors Growth
- Health & Well-Being Benefits of Recreational Fishing Drive Adoption of Fishing Equipment
- Improvements in Recycling Methods
- Issues & Challenges
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/7sidty
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