Sports Composites Market worth $5.1 Billion by 2026 - Exclusive Report by MarketsandMarkets™

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Feb 07, 2022, 05:30 ET

CHICAGO, Feb. 7, 2022 /PRNewswire/ -- According to the new market research report "Sports Composites Market by Resin Type (Epoxy, Polyamide, Polyurethane, Polypropylene) Fiber Type (Carbon, Glass), Application (Golf Sticks, Hockey Sticks, Rackets, Bicycles, Skis & Snowboards) and Region Global Forecast to 2026", published by MarketsandMarkets™, the Sports Composites Market is expected to grow from USD 4.1 billion in 2021 to USD 5.1 billion by 2026, at a CAGR of 4.8% during the forecast period. Composites in sports applications offer higher degree of strength and flexibility, reduced weight, and corrosion-resistant properties.

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"Glass fiber to dominate the sports composites market, both in terms of volume."

The glass fiber segment accounts for the largest share in the sports composites market in terms of volume. Glass fiber composites are made by mixing glass fibers with a polymer matrix. These fibers are commonly used as a reinforcing element in composites. Owing to their superior attributes such as strength, flexibility, durability, stability, low weight, and resistance to heat, temperature, and moisture, glass fiber is used for various applications in the sports industry. Glass fiber is majorly utilized in skis & snowboards, hockey sticks, fishing rods, and others.

"Epoxy resin comprises a major share of the sports composites market, in terms of value and volume."

The epoxy resin type segment accounted for a larger share, in terms of value and volume, of the global sports composites market in 2020. The high share is attributed to the provision of increased efficiency, thereby reducing the overall weight of the equipment. In addition, it also provides better fatigue resistance, corrosion resistance, and improved quality for various applications such as golf clubsgolf sticks, rackets, bicycles, hockey sticks, skis & snowboards, fishing rods, and others.

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"The skis & snowboards segment comprises a major share of the sports composites market, in terms of value and volume."

Skis & snowboards accounted for the largest share in terms of volume and value. The high demand is attributed to various sports activities such as snowboarding, cross-country skiing, alpine skiing, speed skating, ice-skating, and others which are played during winter in North America and the European regions.

"Asia Pacific is expected to account for the largest market share in the sports composites market in terms of value and volume"

The Asia Pacific region dominated the sports composites markets, in terms of value and volume and is projected to grow at the highest CAGR between 2021 and 2026. China & Taiwan are the leading manufacturers of sports composites goods in the Asia Pacific and worldwide. This growth can be attributed to the availability of raw materials and labor at reduced costs, especially in Greater China i.e., China, Hong Kong, Macau, and Taiwan. In addition, Japan is a major producer of carbon fiber composites, which is also one of the factors for the growth of the market in this region.

Amer Sports (Finland), ALDILA, Inc. (US), Jarden Corporation (US), ProKennex (Taiwan), Fischer Sports GmbH (Austria), Topkey Corporation (Taiwan), Rossignol (France), and others are the key players in the sports composites market. Some of the raw material suppliers have also been profiled in the report and include Toray industries Inc. (Japan), SGL Group (Germany), Teijin Limited (Japan), Hexcel Corporation (US), Hexion Inc. (US), and E. I. Du Pont De Nemours and Company (US). These players have adopted new product developments/launches, expansions, and agreements as the major strategies for enhancing their business revenues and market share.

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