Global Sports Composites Market Analysis and Forecast Report: Emerging Trends and Opportunities

As per the report published by The Brainy Insights, the global sports composites market is expected to grow from USD 4.62 billion in 2021 to USD 6.92 billion by 2030, at a CAGR of 4.6% during the forecast period 2022-2030. Asia Pacific region emerged as the largest market for the global sports composites market, with a 35.5% share of the market revenue in 2021. This increase is due to the predicted high volume of bicycle manufacture in China and India. Furthermore, the availability of cheap labor, a developing manufacturing base, and the expanding popularity of sports like golf, basketball, and badminton are a few reasons that are anticipated to boost the market for sports composites.

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Sports Composites Market Size by Resin Type (Polyamide, Epoxy, Polypropylene, and Polyurethane), Fiber Type (Glass and Carbon), Application (Hockey Sticks, Golf Sticks, Bicycles, Rackets, Skis & Snowboards), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Leading companies in the industry include Zoltek Carbon Fibers, Protech Composites, Rockwood Composites Limited, Saint-Gobain Vetrotex and Entropy Resins Inc., among others which are offering greater opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.

The resin type segment is divided into polyamide, epoxy, polypropylene, and polyurethane. In 2021, polyurethane accounted for the largest share of the market, with 32.63% and a market revenue of 1.5 billion. The increased use of this resin in strengthening equipment such as hockey sticks and polo sticks because of its enhanced durability and hardness is expected to drive demand. Furthermore, increased usage of the section in court floors lends strength to the floor and simplicity of maintenance and upkeep. The growing use of artificial grass for sports such as American football, rugby, and hockey is expected to increase demand for resin. The fiber type segment is divided into glass and carbon. In 2021, carbon fibers accounted for the largest share of the market with 58% and a market revenue of 2.6 billion because of the growing usage of the material in golf clubs and tennis racquets. The widespread availability of raw materials, together with enhanced manufacturing processes utilized in the manufacture of carbon composites, is projected to boost development. The general availability of raw materials, together with improved manufacturing processes used in the production process, is anticipated to increase growth. The application segment is divided into hockey sticks, golf sticks, bicycles, rackets, skis & snowboards. In 2021, the bicycles segment accounted for the largest share of the market, with 28% and a market revenue of 1.2 billion, because of the growing demand for ultra-light bicycles in competing sports and recreational activities. In addition, the usage of composite structures in bicycle frames reduces weight significantly, which enhances bike handling. Furthermore, rising demand for fuel bike frames due to cost reductions is likely to increase demand.

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Growth is likely to be driven by rising demand for robust materials used in the manufacture of tennis racquets, skis, and skateboards. Moreover, increasing investment in launching innovative products that improve the stiffness and drive of wooden sticks and golf balls while lowering overall weight is likely to boost carbon composites consumption. Additionally, the growing usage of carbon fiber in the form of liquid resin and fabric for various sporting applications is expected to increase demand.

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