Sports Composites Market

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

Report Code: CH 4216 Jan, 2022, by marketsandmarkets.com

[225 Pages Report] The global sports composites market size is projected to grow from USD 4.1 billion in 2021 to USD 5.1 billion by 2026, at a CAGR of 4.8% in the forecast period. The increasing demand for lightweight materials for sports equipment is the primary factor supporting the market growth. The growing demand of composites for golf clubs and rackets will further drive the market growth during the forecast period.

Sports Composites Market

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COVID-19 Impact on the Global Sports Composites Market

The global lockdown and virtual standstill caused by the pandemic COVID-19 have led to a global economic and business crisis. Various industrial sectors have been significantly affected and their supply chains have been disrupted. The market has been significantly affected due to the low demand, leading manufacturers in reducing production. The trade and travel bans throughout the globe has also hindered the supply chain.

Sports equipment has been facing declining demand due to the cancellation of events and international sports matches. Travel and trade restrictions also led to breaks in the supply of existing orders from manufacturers. Therefore, maintaining uninterrupted supply chains during the COVID-19 pandemic was a major challenge for the sports composites market.

Driver: Increasing demand for lightweight materials for sports goods equipment

Increased efficiency and low weight have always been the foremost drivers for utilizing composites in sports goods as they enhance athletic performance and lower the threat of injury. In addition, composites offer high strength-to-weight capabilities in comparison with other traditional materials such as titanium, alloy, high tensile strength steels, and others, thus helping create increasingly efficient and variety in designs. Carbon fiber and glass fiber are seen as substitutes for these traditional materials as they are lightweight, provide good mechanical performance, offer variety in designs, strength, stiffness, and others. Sports goods manufacturers are increasingly using carbon fiber.

Carbon fiber has a high demand for bicycle frames, fishing rods, golf shafts, tennis rackets, and other products because it offers compression and lateral stability, as well as is lightweight, strength, and durability. Glass fiber is also preferred by manufacturers as it provides strength, flexibility, durability, stability, is lightweight, as well as resistant to heat, temperature, and moisture. These composites are majorly used in the manufacture of skis & snowboards and hockey sticks. Apart from these applications, they are also used in bicycles, rackets, and others. However, glass fiber composites are not as strong as other materials or as stiff as carbon fiber. For instance, the use of composites in tennis rackets reduces the weight and increase the sweet spot size; in hockey sticks, they reduce weight and adjust the kick point to increase energy transfer; in fishing rods, they reduce weight and increase the sensitivity and accuracy.

Restraint: Rising costs of raw and auxiliary materials increasing cost of composite resins and glass fiber

Rising costs of raw and auxiliary materials. As per secondary sources and industry experts, the prices of composite resins have increased significantly in 2021. Costs of raw and auxiliary materials have consistently increased during the first three quarters of 2021, along with increased freight and logistics costs and packaging costs which have resulted in a surge in the prices of resins. General-purpose products are cheaper than specialty products. Specialty products compete to a greater extent on the basis of performance rather than price, as compared with general-purpose or commodity products. The prices of glass fiber are increasing, which is expected to restrict the growth of the market. For instance, companies such as Owens Corning and Certex have increased the prices of glass fibers. The ongoing advancements in the manufacturing process in line with the increasing production of glass fiber are expected to reduce the prices of glass fiber.

Opportunity: Rising demand for composites for new sports goods applications

Sports goods are required to be manufactured in different sizes and shapes depending upon the sport. The various properties of composites such as high tensile modulus, low density, and lightweight make them suitable for various sports goods applications such as tennis rackets, golf shafts, fishing poles, skis, snowboards, hockey sticks, and bicycle frames. Composites are finding new uses in various sports goods applications such as wheel-tire systems, fitness equipment, softballs, bats, baseballs, helmets, cycling shoes, boots, apparel for both, alpine and Nordic skiing, clothing and protective wear, footwear, and others. This is because composites offer compression and lateral stability as well as are lightweight and have high strength and durability. The increase in the demand for composites from new sports goods applications creates opportunities in this market. For example, Topkey Corporation (Taiwan) has developed safety products such as helmets and other products from composite materials using the UDPP process.

Challenge: Issues related to recycling

The use of composites in various end-use industries helps in the reduction of weight and increases performance. Difficulties in recycling composites is a major challenge faced by composite manufacturers. Most of the composites used are disposed of at landfills. However, the landfilling of composite wastes is not an environment-friendly solution. Many of the European Union countries have prohibited landfilling composite wastes. Globally, companies are trying to reduce global warming and exploring the potential of composites in reducing greenhouse gas emissions. However, difficulties in recycling glass fiber-reinforced composites is a stumbling block, where the pressure to recycle is high.

Sports Composites Market Ecosystem

Sports Composites Market by Ecosystem

Carbon fibers accounted for the largest market share, in terms of value

In terms of value, carbon fibers led the global sports composites market. This is due to the higher prices of carbon fibers used in the manufacture of sport goods such as golf shafts, fishing rods, bicycle frames, and rackets. Carbon fiber is one of the technologically advanced materials for reinforcement, providing the highest tensile strength than other reinforcement fibers. Carbon fiber composites are majorly used due to their low weight and high tensile strength, durability, impact absorption, resistance, and stiffness. Increased capacity expansions for the manufacture of carbon fibers by leading players and technical innovations are expected to reduce prices, thereby driving the penetration of carbon fiber composites in various sports goods applications.

Polyamide resin have the second-largest market share, in terms of both value and volume

The polyamide resin accounted for the second-largest share in the global sports composites market in terms of value in 2020. Thermoplastic composites containing polyamide resin matrix offer an ideal combination of properties for a wide range of applications in the sports market. The resin offers various properties such as excellent resistance to chemicals, wear, and abrasion; good mechanical properties at elevated temperatures; low permeability to gases; good dimensional stability; good toughness; high strength; and high impact resistance, among others.

Golf sticks applications accounted the second largest share in sports composites market in terms of both volume and value

Golf sticks holds the second largest share in the sports composites market in 2020 in terms of volume and value. Golf shafts are generally manufactured with the use of high modulus graphite, titanium, and high tensile strength steels. The two important considerations that influence the use of shaft materials for the design of the golf shaft and club performance are swing and strike. Therefore, the use of composites in the manufacture and production of golf club shafts and club heads has been aided, as these materials offer lighter weight, a high-tech image to a rather affluent market, and a variety of design options which are not available in traditional steel material.

Sports Composites Market by Region

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Asia Pacific is expected to be the fastest growing region in the sports composites market during the forecast period.

During the forecast period, Asia Pacific is estimated to the fastest growing region in the sports composites market due to the rising demand for composites from various sports applications in the region. The presence of well-established sports manufacturing companies such as Topkey Corporation, Zhongfu Shenying, Weihai Guangwei Composites, etc. in the region offers significant market opportunities. Increase in the demand from the golf sticks, rackets, and bicycles application segments in the Asia Pacific are expected to drive the market during the next five years.

Key Market Players

Some of the key players in the global sports composites market are:

These companies are involved in adopting various inorganic and organic strategies to increase their foothold in the sports composites market. The study includes an in-depth competitive analysis of these key players in the market, with their company profiles, recent developments, and key market strategies. 

Recent Developments

  • In May 2021, Toray Industries, Inc. created high tensile modulus carbon fiber and thermoplastic pellets which are ideal for injection molding employing that fiber. The pellets are expected to enable the efficient production of complex, rigid parts which are also light, thereby lowering the environmental impact.
  • In January 2021, Amer Sports entered into an agreement with Peloton Interactive Inc. for the contemplated sale of Precor, the manufacturer of commercial fitness equipment with a significant manufacturing presence in the US.
  • In January 2021, SGL carbon revealed its plan to launch a USD 4.5 million expansion project at its Arkadelphia, AR plant with a plan to increase its capacity for carbon composites. The expansion is expected to become operational by the end of the year. SGL Carbon operates 31 production facilities in Europe, Asia, and North America. This expansion is expected to boost the growth of the sports composites market.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS

1 INTRODUCTION
    1.1 OBJECTIVES OF THE STUDY
    1.2 MARKET DEFINITION
    1.3 MARKET SCOPE
           1.3.1 MARKETS COVERED
           1.3.2 YEARS CONSIDERED IN THE REPORT
    1.4 CURRENCY
    1.5 LIMITATIONS
    1.6 STAKEHOLDERS

2 RESEARCH METHODOLOGY
    2.1 MARKET SHARE ESTIMATION
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
    2.2 MARKET SIZE ESTIMATION
           2.2.1 BOTTOM-UP APPROACH
           2.2.2 TOP-DOWN APPROACH
    2.3 MARKET BREAKDOWN & DATA TRIANGULATION
    2.4 RESEARCH ASSUMPTIONS

3 EXECUTIVE SUMMARY

4 PREMIUM INSIGHTS
    4.1 SIGNIFICANT OPPORTUNITIES IN SPORTS COMPOSITES MARKET, 2021–2026
    4.2 SPORTS COMPOSITES MARKET, BY RESIN TYPE
    4.3 SPORTS COMPOSITES MARKET GROWTH, BY FIBER TYPE
    4.4 SPORTS COMPOSITES MARKET GROWTH, BY APPLICATION
    4.5 SPORTS COMPOSITES MARKET SIZE, BY COUNTRY

5 MARKET OVERVIEW AND INDUSTRY TREND
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
           5.2.1 DRIVERS
           5.2.2 RESTRAINTS
           5.2.3 OPPORTUNITIES
           5.2.4 CHALLENGES
    5.3 PORTER'S FIVE FORCES ANALYSIS
           5.3.1 BARGAINING POWER OF SUPPLIERS
           5.3.2 BARGAINING POWER OF BUYERS
           5.3.3 THREAT OF NEW ENTRANTS
           5.3.4 THREAT OF SUBSTITUTES
           5.3.5 DEGREE OF COMPETITION
    5.4 COVID-19 IMPACT ON SPORTS COMPOSITES MARKET

6 SPORTS COMPOSITES MARKET, BY FIBER TYPE
    6.1 GLASS FIBER
    6.2 CARBON FIBER
    6.3 OTHERS

7 SPORTS COMPOSITES MARKET, BY RESIN TYPE
    7.1 EPOXY
    7.2 POLYAMIDE
    7.3 POLYURETHANE
    7.4 POLYPROPYLENE
    7.5 OTHERS

8 SPORTS COMPOSITES MARKET, BY APPLICATIONS
    8.1 BICYCLE
    8.2 GOLF STICK
    8.3 RACKETS
    8.4 HOCKEY STICK
    8.5 SKIS & SNOWBOARDS
    8.6 OTHERS

9 SPORTS COMPOSITES MARKET, BY REGION
    9.1 INTRODUCTION
    9.2 NORTH AMERICA
           9.2.1 SPORTS COMPOSITES MARKET SIZE IN NORTH AMERICA, BY APPLICATION
           9.2.2 SPORTS COMPOSITES MARKET SIZE IN NORTH AMERICA, BY FIBER TYPE
           9.2.3 SPORTS COMPOSITES MARKET SIZE IN NORTH AMERICA, BY RESIN TYPE
           9.2.4 SPORTS COMPOSITES MARKET SIZE IN NORTH AMERICA, BY COUNTRY
                    9.2.4.1 U.S.
                    9.2.4.2 Canada.
    9.3 EUROPE
           9.3.1 SPORTS COMPOSITES MARKET SIZE IN EUROPE, BY APPLICATION
           9.3.2 SPORTS COMPOSITES MARKET SIZE IN EUROPE, BY FIBER TYPE
           9.3.3 SPORTS COMPOSITES MARKET SIZE IN EUROPE, BY RESIN TYPE
           9.3.4 SPORTS COMPOSITES MARKET SIZE IN EUROPE, BY COUNTRY
                    9.3.4.1 Germany
                    9.3.4.2 France
                    9.3.4.3 U.K.
                    9.3.4.4 Italy
                    9.3.4.5 Spain
                    9.3.4.6 Rest of Europe
    9.4 ASIA-PACIFIC
           9.4.1 SPORTS COMPOSITES MARKET SIZE IN ASIA-PACIFIC, BY APPLICATION
           9.4.2 SPORTS COMPOSITES MARKET SIZE IN ASIA-PACIFIC, BY FIBER TYPE
           9.4.3 SPORTS COMPOSITES MARKET SIZE IN ASIA-PACIFIC, BY RESIN TYPE
           9.4.4 SPORTS COMPOSITES MARKET SIZE IN ASIA-PACIFIC, BY COUNTRY
                    9.4.4.1 China
                    9.4.4.2 Japan
                    9.4.4.3 South Korea
                    9.4.4.4 India
                    9.4.4.5 Rest Of APAC
    9.5 LATIN AMERICA
           9.5.1 SPORTS COMPOSITES MARKET SIZE IN LATIN AMERICA BY APPLICATION
           9.5.2 SPORTS COMPOSITES MARKET SIZE IN LATIN AMERICA BY FIBER TYPE
           9.5.3 SPORTS COMPOSITES MARKET SIZE IN LATIN AMERICA, BY RESIN TYPE
           9.5.4 SPORTS COMPOSITES MARKET SIZE IN LATIN AMERICA, BY COUNTRY
                    9.5.4.1 Brazil
                    9.5.4.2 Mexico
                    9.5.4.3 Rest of Latin America
    9.6 MIDDLE EAST & AFRICA (ME&A)
           9.6.1 SPORTS COMPOSITES MARKET SIZE IN ME&A BY APPLICATION
           9.6.2 SPORTS COMPOSITES MARKET SIZE IN ME&A BY FIBER TYPE
           9.6.3 SPORTS COMPOSITES MARKET SIZE IN ME&A BY RESIN TYPE
           9.6.4 SPORTS COMPOSITES MARKET SIZE IN ME&A BY COUNTRY
                    9.6.4.1 UAE
                    9.6.4.2 Saudi Arabia
                    9.6.4.3 Rest of ME&A

10 COMPETITIVE LANDSCAPE
     10.1 OVERVIEW
     10.2 COMPETITIVE SITUATIONS AND TRENDS
             10.2.1 NEW PRODUCT LAUNCHES
             10.2.2 AGREEMENTS
             10.2.3 MERGERS & ACQUISITIONS
             10.2.4 EXPANSIONS

11 COMPANY PROFILES
     11.1 COMPOSITE-BASED SPORTS & RECREATION GOODS MANUFACTURERS:
             11.1.1 ALDILA INC.
             11.1.2 AMER SPORTS
             11.1.3 FISCHER SPORTS GMBH
             11.1.4 JARDEN CORPORATION
             11.1.5 ROSSIGNOL
             11.1.6 TOPKEY CORPORATION
     11.2 COMPOSITE-BASED SPORTS & RECREATION GOODS RAW MATERIAL SUPPLIERS:
             11.2.1 E. I. DU PONT DE NEMOURS AND COMPANY
             11.2.2 HEXION INC.
             11.2.3 SGL GROUP
             11.2.4 TORAY INDUSTRIES INC.
     11.3 OTHER KEY PLAYERS
             11.3.1 OTHER COMPOSITE-BASED SPORTS & RECREATION GOODS MANUFACTURERS
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View)
*Details Might Not Be Captured in Case of Unlisted Companies.
Note: This is the tentative list, we will provide you the company profiles of major companies from each sector.

12 APPENDIX

The study involved two major activities in estimating the current size of the sports composites market. Exhaustive secondary research was performed to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the total market size. After that, market breakdown and data triangulation procedures were used to determine the extent of market segments and sub-segments.

Secondary Research

In the secondary research process, information was sourced from annual reports, press releases & investor presentations of companies; white papers; certified publications; trade directories; articles from recognized authors; gold standard and silver standard websites; and databases. Secondary research was used to obtain critical information about the value chain of the industry, the total pool of key players, market classification & segmentation according to industry trends to the bottom-most level, and regional markets. It was also used to obtain information about key developments from a market-oriented perspective.

Primary Research

The sports composites market comprises several stakeholders in the value chain, including raw material suppliers, processors, end-product manufacturers, and end users. Various primary sources from the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. Primary sources from the demand side include key opinion leaders from various end-use industries of carbon fibers. The primary sources from the supply side include experts from companies manufacturing carbon fibers.

Following is the breakdown of primary respondents:

Sports Composites Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both the top-down and bottom-up approaches were used to estimate and validate the total size of the Sports composites market. These methods were also used extensively to determine the size of various sub-segments in the market. The research methodology used to estimate the market size included the following:

  • The key players in the industry and markets were identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, were determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall Sports composites market size, using the market size estimation processes explained above, the market was split into several segments and sub-segments. To complete the whole market engineering process and arrive at the exact statistics of each market segment and sub-segment, the data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.

Report Objectives

  • To define, describe, and forecast the size of the sports composites market, in terms of value and volume
  • To provide detailed information about the key factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
  • To analyze and forecast the market based on fiber type, resin type, application, and region
  • To analyze and project the market based on five regions, namely, Europe, North America, Asia Pacific (APAC), the Middle East & Africa (MEA), and Latin America
  • To strategically analyze the micromarkets concerning individual growth trends, prospects, and their contribution to the overall market
  • To analyze the opportunities in the market for stakeholders and provide a competitive landscape for market leaders
  • To strategically profile the key players and comprehensively analyze their market shares and core competencies

Available Customizations

 MarketsandMarkets offers customizations according to the specific needs of the companies with the given market data.

The following customization options are available for the report:

Product Analysis

  • Product matrix, which gives a detailed comparison of the product portfolio of each company

Regional Analysis

  • Further breakdown of Rest of APAC Sports composites market
  • Further breakdown of Rest of Europe Sports composites market
  • Further breakdown of Rest of MEA Sports composites market
  • Further breakdown of Rest of Latin American Sports composites market

Company Information

  • Detailed analysis and profiling of additional market players (up to 10)
Report Code
CH 4216
Published ON
Jan, 2022
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