Press release
Sports Composites Global Market to Grow $5.14 Billion at a Surprising CAGR of 7.7% By 2028 | Amer Sports, ALDILA Inc., Fiberon LLC, Hexion Inc., Toray Industries Inc.
Sports Composites Global Market
Sports Composites Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $5.14 billion In 2028 At A CAGR Of 7.7% :
The sports composites market size has grown strongly in recent years. It will grow from $3.54 billion in 2023 to $3.81 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to weight reduction, high strength-to-weight ratio, increased sports participation.
The sports composites market size is expected to see strong growth in the next few years. It will grow to $5.14 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to rising demand for carbon fiber composites, focus on sustainability, emerging sports trends, increasing sports investment. Major trends in the forecast period include material advancements, customization, innovative manufacturing technologies.
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Sports Composites Market Major Segments
The sports composites market covered in this report is segmented -
1) By Fiber: Carbon, Glass, Other Fibers
2) By Rasin Type: Epoxy, Polyamide, Polyurethane, Polypropylene
3) By Application: Golf Sticks, Rackets, Bicycles, Hockey Sticks, Skis and Snowboards
Key Driver - Growth Of Sports Industry Fuels Expansion In Sports Composites Market
The rising sports industry is expected to propel the growth of the sports composites market going forward. The sports industry refers to an industry in which people, activities, and organizations are involved in producing, facilitating, promoting, or organizing any activities that are focused on sports. Sports composites are used to make lightweight sports equipment. For instance, in 2021, according to GroupM ESP, an India-based media investment management company, in 2021, the Indian sports business invested $1.22 billion, representing a 62% increase over the previous year. In addition, media spending on cricket climbed by 8.1% in 2021 to $728.6 million, up from $673.8 million in 2019. Therefore, the rising sports industry is driving the growth of the sports composites market.
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Prominent Trend - Product Innovation Revolutionize The Sports Composites Market
Product innovation have emerged as a key trend gaining popularity in the sports composite market. Major companies operating in the sports composites sector are focused on introducing new products to sustain their position. For instance, in February 2021, Teijin Ltd., a Japan-based composites manufacturer, launched Tenax PW (power series) and Tenax BM (beam series) brands of carbon fiber intermediate materials for sports applications. Tenax PW is an advanced aircraft-quality material that increases power and speed due to its remarkable endurance and toughness. It is constructed of high-tenacity, high tensile modulus resin. Additionally, Tenax PW is said to maintain a compressive strength that is higher than Teijin's regular carbon fiber prepregs while suppressing and absorbing impact pressures to reduce and localize damage after impact. Tenax BM is an additional cutting-edge material. It is perfect for applications requiring flexibility and resistance to thermal expansion because of its high stiffness, straightness, operability, and stability.
Sports Composites Market Players
Major companies operating in the sports composites market report are Fischer Sports GmbH, Callaway legally Topgolf Callaway Brands Corp., Skis Rossignol S. A., Rockman Cycles limited, Rock West Composites Inc., Mitsubishi Chemical Carbon Fiber and Composites Inc., Jarden Corporation, Hexcel Corporation, Exel Composites Oyj, EPSILON Composite SA, Du Pont De Nemours Inc., Dexcraft Sp. z o. o., Composite Technology Development Inc., Composite Horizons LLC, Composite Engineering Inc., Composite Advantage LLC, Celanese Corporation, Carbon Composites e. V., Amer Sports, ALDILA Inc., Fiberon LLC,True Temper Sports, Toray Industries Inc., Topkey Corporation, Teijin Limited, SGL Carbon Pvt. Ltd., ProKennex, Newell Brands Inc., Hexion Inc., Fujikura Composites Inc.,
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Largest And Fastest Growing Region In The Market
North America was the largest region in the sports composites market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sports composites market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Sports Composites Market Report Structure
3. Sports Composites Market Trends And Strategies
4. Sports Composites Market - Macro Economic Scenario
5. Sports Composites Market Size And Growth
…..
27. Sports Composites Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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