Sports Composites Market Is Gaining Huge Growth In Upcoming Years 2024 - 2031 | Toray Industries Inc., SGL Carbon, Fischer Sports Gmbh

Market Overview:

The global sports composites market is estimated to be valued at USD 4.73 Bn in 2024 and is expected to reach USD 6.62 Bn by 2031, growing at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031.

Market Dynamics:

The sports composites market is expected to witness significant growth over the forecast period owing to increasing participation in sports and fitness activities. According to a study by the Sport and Fitness Industry Association, over 103 million Americans participated in some form of sports activity in 2016. This increased participation has driven the demand for high-performance sports equipment. Additionally, continuous product innovation aimed at improving product performance is also fueling market growth. Manufacturers are focusing on developing lighter, stronger, and durable composite materials to produce innovative sports equipment. For instance, in 2020 Toray Industrial introduced T1100G carbon fiber, which is 50% stronger than conventional carbon fibers used in tennis rackets and lacrosse sticks.

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Driver: Increasing demand for lightweight and durable sporting goods to enhance performance

The sports composites market is being driven by the increasing demand for lightweight yet durable sporting goods and equipment across various sports. Carbon fiber, aramid fiber, and other composites allow for designing products that are significantly lighter than their metal or wood counterparts. The lighter weight gives athletes improved speed, strength and endurance. For example, in tennis rackets, composites have enabled racket heads that are much larger while keeping the overall weight the same, thus increasing power and control. Similarly, in bicycles, composites are allowing for frames that are stiff yet very lightweight. The benefits of improved performance are attracting more athletes and enthusiasts to opt for composite sporting goods. Manufacturers are also introducing new composite materials with better strength-to-weight ratios to further enhance the performance of their products.

Driver: Growing participation in professional and amateur sports globally

Another key driver for the sports composites market is the substantial growth in participation for both professional and amateur sports. Sports such as cycling, golf, tennis, fishing and combat sports have attracted a significant increase in enthusiast participation globally in recent years. For professional sports as well, the audiences and revenues have grown rapidly. For instance, the global professional cycling market was valued at $7 billion in 2019 and is projected to grow further. The rising popularity of sports is translating to higher demand for high-performance sporting equipment and gear. It is encouraging sports product manufacturers to incorporate advanced composite materials into various equipment from rackets and bats to helmets, protective gears and sportswear. The composites allow designing products that can better withstand the rigors of both training and competition while being lightweight and comfortable for the athletes and players.

Opportunity: Development of affordable composites and production technologies

One of the key opportunities for growth in the sports composites market lies in the development of more affordable composite materials and production technologies. Continuous research is ongoing to develop low-cost carbon fiber, aramid and glass fiber variants that can reduce raw material pricing without major compromises on mechanical properties. 3D printing technology is also being explored for composite parts manufacturing which eliminates expensive molding tools and allows batch production of customized components. On the production front, out-of-autoclave curing techniques are gaining popularity as an alternative to energy-intensive autoclaving. Methods involving vacuum bagging and pressurized ovens can significantly reduce curing temperatures and cycle times. Advancements in resin infusion processes using vacuum and flow media are lowering labor requirements. These emerging materials and technologies hold the potential to drive down composite component costs to a level that can tap the massive amateur and recreational sports demographics. It can enable a much wider application of composites beyond high-end professional gear.

Trends: Rising focus on sustainable composite materials

There is a clear trend of rising focus on developing more sustainable composite materials for sports applications. While composites deliver excellent performance, traditional fiber reinforcements such as carbon and some aramid fibers have large carbon footprints. They rely on non-renewable petroleum feedstock and their production is energy-intensive. The industry is now looking at alternative sustainably-sourced fibers from natural plants instead of petroleum. Biobased fibers from flax, hemp and kenaf are gaining popularity. Researchers are also experimenting with agricultural residue fibers such as pineapple

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Top Companies Featured in This Report:

★ Toray Industries Inc.
★ SGL Carbon
★ Fischer Sports Gmbh
★ TOPKEY CORPORATION
★ DUPONT DE NEMOURS
★ INC
★ Hexion
★ Inc
★ Toray Industries
★ Inc
★ SGL CARBON SE
★ Callaway Golf Company
★ Rockwest Composites
★ Arvind Composites
★ REIN4CED
★ Protech Composites
★ Protension Composites
★ Arevo
★ Inc
★ Entropy Resins

Market Segmentation:

By Product Type:

★ By Resin Type: Epoxy, Polyamide, Polyurethane, Others (Polypropylene, etc.)
★ By Fiber Type: Glass, Carbon, Other Fiber Type

By Applications:

★ By Application: Golf Shafts, Hockey Sticks, Rackets, Bicycles, Others (Skis and Snowboards, etc.)

Key Regions/Countries Classified as Follows:

» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

Key Insights from the Global Sports Composites Market Analysis:

Market Size Evaluation: Assessing the value and sales volume of the Sports Composites market spanning from 2024 to 2031.
Market Trends and Dynamics: Analyzing the drivers, opportunities, challenges, and risks influencing the Sports Composites market.
Macro-economic and Regional Impacts: Exploring how global inflation and geopolitical events affect the Sports Composites market.
Segment Analysis: Examining the market value and sales volume of Sports Composites by type and application from 2024 to 2031.
Regional Market Overview: Assessing the current situations and future prospects of the Sports Composites market in different regions.
Country-level Studies: Providing insights into revenue and sales volume for major countries within each region.
The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.

In summary, whether you're engaged in manufacturing, distribution, or investment within the Sports Composites sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.

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Author Bio:

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)

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