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Sports Composites Market Expected to Reach $5.14 Billion by 2028, Driven by Rising Sports Industry and Technological Advancements
Sports Composites Market
As per the report, 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 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%.
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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.
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.
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
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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.,
Contents of the report:
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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