[225 Pages Report] Sports composites are novel materials comprising mixtures of fibers and resins. In sports composites, fibers are reinforced and are used to fortify the matrix in terms of strength and stiffness. These are used for manufacturing sports goods such as golf clubsgolf sticks, skies & snowboards, hockey sticks, rackets, fishing rods, and bicycles, among others. The use of composites in the sporting & recreation applications increases performance because they provide density and stiffness to sports goods which other traditional metals cannot provide.
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.
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The global lockdown and virtual standstill caused by the pandemicCOVID-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.
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.
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.
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.
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.
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.
The epoxy resin accounted for the largest share in the global sports composites market in terms of value in 2020. Epoxy resins have high compatibility with carbon fibers which have high demand for golf clubsgolf sticks, rackets, bicycle frames, hockey sticks, and fishing rods. They have excellent mechanical, electrical, and high heat resistance properties and are also available in a wide variety of curing agent variations.
Skis & snowboards accounted for the largest share in the sports composites market in 2020 in terms of volume and value. The use of composites in skis & snowboards is suitable for any type of snow. Carbon fiber is located in the upper core layer, which strengthens the flexion degree of the skis. Glass fiber, on the other hand, is used in the core layer above, which plays a vital role in the connection of the panel and the core layer, thereby increasing the toughness of skateboarding and makes the slide more powerful.
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Asia Pacific is the largest market for sports composites owing to the presence of large number of well-established players in China & Taiwan. Besides this, the major manufacturers for glass and carbon fibers are concentrated in Asia Pacific. The rising popularity of various sports including tennis, badminton, and hockey is also expected to augment market growth.
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.
Years considered for the study
Value (USD Million), Volume (Kiloton)
Fiber type, Resin Type, Application, and Region
APAC, Europe, North America, MEA, and Latin America
This research report categorizes the sports composites market based on type, application, end-use industry, and region.
What are the factors influencing the growth of the sports composites market?
The growing demand for carbon fibers from golf sticks, rackets, bicycles, and other applications.
Which is the largest country-level market for sports composites?
China & Taiwan is the largest sports composites market due to the presence major sporting goods manufacturers
What are the factors contributing to the final price of sports composites?
Fiber grade and technical route adopted plays a vital role in the costs. The cost of these materials contributes largely to the final pricing of sports composites.
What are the challenges in the sports composites market?
Recycling of waste composites is the major challenge in the sports composites market.
Which type of sports composite resins holds the largest market share?
Epoxy resins hold the largest share in terms of both value and volume.
How is the sports composites market aligned?
The market is growing at a moderate pace. It is a potential market and many manufactures are undertaking business strategies to expand their business especially in the developing countries.
Who are the major manufacturers?
Amer Sports (Finland), ALDILA, Inc. (US), Jarden Corporation (US), ProKennex (Taiwan), Fischer Sports GmbH (Austria), Topkey Corporation (Taiwan), Rossignol (France), and others are the key players in the sports composites market. Some of the raw material suppliers have also been profiled in the report and include Toray industries Inc. (Japan), SGL Group (Germany), Teijin Limited (Japan), Hexcel Corporation (US), Hexion Inc. (US), and E. I. Du Pont De Nemours and Company (US).
What are the major applications for sports composite?
The major applications for sports composites are golf sticks, rackets, hockey sticks, bicycles, skis & snowboards, and others
What are the fibers used for sports composites?
The major fibers used in sports composites are glass, carbon, aramid, boron, and natural fibers.
What is the biggest restraint in the sports composites market?
High cost of sports composites is the biggest restraint in the growth of sports composites market. .
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TABLE OF CONTENTS
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
2 RESEARCH METHODOLOGY
2.1 MARKET SHARE ESTIMATION
2.1.1 SECONDARY DATA
18.104.22.168 Key Data From Secondary Sources
2.1.2 PRIMARY DATA
22.214.171.124 Key Data From Primary Sources
126.96.36.199 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
5.2 MARKET DYNAMICS
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
7 SPORTS COMPOSITES MARKET, BY RESIN TYPE
8 SPORTS COMPOSITES MARKET, BY APPLICATIONS
8.2 GOLF STICK
8.4 HOCKEY STICK
8.5 SKIS & SNOWBOARDS
9 SPORTS COMPOSITES MARKET, BY REGION
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
9.3.1 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
188.8.131.52 Rest of Europe
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
184.108.40.206 South Korea
220.127.116.11 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
18.104.22.168 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
22.214.171.124 Saudi Arabia
126.96.36.199 Rest of ME&A
10 COMPETITIVE LANDSCAPE
10.2 COMPETITIVE SITUATIONS AND TRENDS
10.2.1 NEW PRODUCT LAUNCHES
10.2.3 MERGERS & ACQUISITIONS
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
11.1.6 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.
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.
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.
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.
To know about the assumptions considered for the study, download the pdf brochure
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:
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.
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