Sports Composites Market Size
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 1.01 Million tons |
| Market Volume (2029) | 1.24 Million tons |
| CAGR (2024 - 2029) | 4.11 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Sports Composites Market Analysis
The Sports Composites Market size is estimated at 1.01 Million tons in 2024, and is expected to reach 1.24 Million tons by 2029, growing at a CAGR of 4.11% during the forecast period (2024-2029).
Due to the COVID-19 outbreak, nationwide lockdowns around the globe, disruption in manufacturing activities and supply chains, and production halts impacted the market in 2020. However, the conditions started recovering in 2021, restoring the market's growth trajectory during the forecast period.
- The major factor driving the market studied is the increasing demand for lightweight and high-performance sports equipment and the growing golf industry during the forecast period.
- On the flip side, unfavorable conditions arising due to the high manufacturing cost of carbon fibers hinder the market's growth.
- The growing application of new energy composites in sports equipment will likely provide new growth opportunities for the market.
- Asia-Pacific region is expected to dominate the global sports composites market during the forecast period.
Sports Composites Market Trends
This section covers the major market trends shaping the Sports Composites Market according to our research experts:
Increasing Demand for Skis and Snowboards
- The use of carbon fibers in the construction of skis and snowboards has spread considerably in all categories, including piste skiing, race, freeride, and ski mountaineering.
- This phenomenon has led to some advantages in the technical characteristics of the skis. However, there have also been some exaggerations, largely due to fashion and the marketing policies of manufacturers.
- The appropriate use of carbon fibers in the construction of skis and snowboards, especially for ski mountaineering, is owing to its excellent characteristics with a contained mass and even wider skis (over 100 mm under the foot).
- A new snowboard technology was developed using an anisotropic layer design, taking advantage of the internal coupling effects of fiber-reinforced plastics (FRP). This work deals with the technical, economic, and environmental evaluation of a snowboard made of three alternative materials, namely carbon, glass, and flax fiber-reinforced composites.
- In this case, both the material choice and the fiber placement angles significantly impact the stiffness of the resulting FRP in the three dimensions of analysis: cost, environmental, and technical.
- The natural fiber is the most sustainable option environmentally, glass fiber is the best economically, and carbon fiber is the best in terms of technical performance. Therefore, the importance attributed to each dimension of analysis is essential for any manufacturer before making the decision.
- Owing to its limited usage in warmer countries, the United States and Canada are the primary consumers of composites for manufacturing skis and snowboards.
- All such factors are expected to help determine the global demand for composites over the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the global sports composites market during the forecast period.
- The sports industry has been growing significantly due to high competition, media sponsorships, and increased social awareness.
- China has been an attractive market for athletic apparel, accessories, and footwear. Multinational companies are shifting their operations outside China due to rising labor costs. However, the country has a high demand for sportswear and activewear.
- According to the International Trade Administration, the Chinese sportswear market is expected to reach USD 82.8 billion by 2024, growing at an annual rate of 11%.
- China will host the 2022 Asian Games in 2023. The games will take place in Hangzhou from September 23 to October 8, 2023, as per the Olympic Council of Asia (OCA). The Asian Games generally attract more than 10,000 athletes across the region.
- Moreover, in India, according to the Ministry of Youth Affairs and Sports, the expenditure on sports by the Indian government in FY 2021-22 accounted for INR 8.39 billion (USD 0.11 billion) through the Khelo India scheme. Such expenditures and sports schemes are likely to support the demand for the market studied.
- India's total export data of bicycles and parts in 2021-2022 was INR 34,330 million ( USD 460 million), and the total import data in 2021-2022 was INR 18,764 million (USD 251 million).
- Therefore, the demand for sports equipment, such as golf shafts, hockey sticks, rackets, and bicycles, is expected to grow in recent times, further boosting the demand for the market studied in the region.
Sports Composites Industry Overview
The global sports composites market is fragmented in nature. The major companies are Toray Industries Inc., SGL Carbon, Mitsubishi Chemical Carbon Fiber and Composites Inc., Rock West Composites, and Exel Composites, among others.
Sports Composites Market Leaders
-
Toray Industries Inc.
-
SGL Carbon
-
Mitsubishi Chemical Carbon Fiber and Composites Inc.
-
Rock West Composites
-
Exel Composites
*Disclaimer: Major Players sorted in no particular order
Sports Composites Market News
- In February 2022, Celanese Corporation announced the acquisition of DuPont's Mobility & Materials (M&M) business for USD 11.0 billion. This acquisition will expand the company's product portfolio and extend its reach globally.
Sports Composites Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Demand for Lightweight and High-Performance Sports Equipment
4.1.2 Growing Golf Industry
4.2 Restraints
4.2.1 High Manufacturing Cost of Carbon Fibers
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Glass-Fibre Reinforced
5.1.2 Carbon-Fibre Reinforced
5.1.3 Other Types
5.2 Resin Type
5.2.1 Epoxy
5.2.2 Polyurethane
5.2.3 Other Resin Types
5.3 Applications
5.3.1 Golf Shafts
5.3.2 Hockey Sticks
5.3.3 Rackets
5.3.4 Bicycles
5.3.5 Skis and Snowboards
5.3.6 Other Applications
5.4 Geography
5.4.1 Asia-Pacific
5.4.1.1 China
5.4.1.2 India
5.4.1.3 Japan
5.4.1.4 South Korea
5.4.1.5 Rest of Asia-Pacific
5.4.2 North America
5.4.2.1 United States
5.4.2.2 Canada
5.4.2.3 Mexico
5.4.3 Europe
5.4.3.1 Germany
5.4.3.2 United Kingdom
5.4.3.3 Italy
5.4.3.4 France
5.4.3.5 Rest of Europe
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle East and Africa
5.4.5.1 Saudi Arabia
5.4.5.2 South Africa
5.4.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Celanese Corporation
6.4.2 Dexcraft
6.4.3 EPSILON Composite
6.4.4 Exel Composites
6.4.5 Mitsubishi Chemical Carbon Fiber and Composites Inc.
6.4.6 Rockman
6.4.7 Rock West Composites
6.4.8 SGL Carbon
6.4.9 Toray Industries Inc.
6.4.10 Topkey
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Application of New Energy Composites in Sports Equipment
Sports Composites Industry Segmentation
Composites are found in products used in 7 of the ten most popular outdoor sports and recreational activities. Glass- and carbon-reinforced composites (alone or in hybrids with other fibers) continue to replace wood and metal in fishing rods, tennis racquets, spars/shafts for kayak paddles, windsurfing masts and boards, hockey sticks, and bicycle handlebars, as well as in niche applications, such as fairings for recumbent bikes. Composites are preferred in sports due to their lightweight, dimensional stability, and corrosion resistivity features. The market is segmented by type, resin type, applications, and geography. By type, the market is segmented into glass-fiber reinforced, carbon-fibre reinforced, and other types. By resin type, the market is segmented into epoxy, polyurethane, and other resin types. By applications, the market is segmented into golf shafts, hockey sticks, rackets, bicycles, skis and snowboards, and other applications. The report also covers the market size and forecast for the bioplastics market in 15 countries across major regions. For each segment, the market sizing and forecast have been done based on volume (kiloton).
| Type | |
| Glass-Fibre Reinforced | |
| Carbon-Fibre Reinforced | |
| Other Types |
| Resin Type | |
| Epoxy | |
| Polyurethane | |
| Other Resin Types |
| Applications | |
| Golf Shafts | |
| Hockey Sticks | |
| Rackets | |
| Bicycles | |
| Skis and Snowboards | |
| Other Applications |
| Geography | |||||||
| |||||||
| |||||||
| |||||||
| |||||||
|
Sports Composites Market Research FAQs
How big is the Sports Composites Market?
The Sports Composites Market size is expected to reach 1.01 million tons in 2024 and grow at a CAGR of 4.11% to reach 1.24 million tons by 2029.
What is the current Sports Composites Market size?
In 2024, the Sports Composites Market size is expected to reach 1.01 million tons.
Who are the key players in Sports Composites Market?
Toray Industries Inc., SGL Carbon, Mitsubishi Chemical Carbon Fiber and Composites Inc., Rock West Composites and Exel Composites are the major companies operating in the Sports Composites Market.
Which is the fastest growing region in Sports Composites Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Sports Composites Market?
In 2024, the Asia-Pacific accounts for the largest market share in Sports Composites Market.
What years does this Sports Composites Market cover, and what was the market size in 2023?
In 2023, the Sports Composites Market size was estimated at 0.97 million tons. The report covers the Sports Composites Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Sports Composites Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Sports Composites Industry Report
Statistics for the 2024 Sports Composites market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Sports Composites analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
