The Brainy Insights launched a study titled Sports Composites Market Size by Resin Type (Polyamide, Epoxy, Polypropylene, and Polyurethane), Fiber Type (Glass and Carbon), Application (Hockey Sticks, Golf Sticks, Bicycles, Rackets, Skis Snowboards), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030
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The global sports composites market is expected to grow from USD 4.62 billion in 2021 to USD 6.92 billion by 2030, at a CAGR of 4.6% during 2022-2030. The growing use of composite materials in a wide range of applications, as well as the growing preference for lighter materials in sports goods, are driving the worldwide sports composites market forward. Safety is an essential component of every business, and producers worldwide produce various forms of innovative sports equipment to safeguard end-users from workplace health threats. The market is growing more popular as the need for robust materials used in the manufacture of skates, tennis racquets, and scooters grow.
In 2021, polyurethane segment accounted for the largest share of the market, with 32.63% and a market revenue of 1.5 billion.
The resin type segment is divided into polyamide, epoxy, polypropylene, and polyurethane. In 2021, polyurethane accounted for the largest share of the market, with 32.63%. The demand is likely to be driven by the increased resin usage in strengthening instruments such as golf sticks and wooden sticks due to better performance and toughness. Moreover, expanding use of resin in court surfaces gives the floor greater strength and makes maintenance and cleaning simpler. The growing popularity of artificial grass in sports like hockey, American football, and rugby is predicted to stimulate demand for polyethylene resins.
In 2021, carbon fibers accounted for the largest share of the market with 58% and a market revenue of 2.6 billion.
The fiber type segment is divided into glass and carbon. In 2021, the carbon fibers segment accounted for the largest share of the market, with 58%. This is owing to the increased cost of carbon fibers, which are utilized in the production of sporting items such as golf shafts, fishing tackle, and tennis racquets. Carbon fiber is one of the most technologically sophisticated fiber reinforcements, with enhanced mechanical properties than other fiber reinforcement. Carbon fiber composites are popular because of their lightweight and great compressive strength, longevity, resistance, and flexibility. Carbon fiber capacity increases by key players, and technological developments, are predicted to lower prices, promoting the proliferation of carbon fiber composites in numerous sports goods uses.
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In 2021, the bicycles segment accounted for the largest share of the market, with 28% and a market revenue of 1.2 billion.
The application segment is divided into hockey sticks, golf sticks, bicycles, rackets, skis snowboards. In 2021, the bicycles segment accounted for the largest share of the market, with 28%. The increased demand for ultra-light bicycles in leisure activities and professional sports can be attributed to the rise. Moreover, the use of composite structures in bicycles results in significant weight saving, which improves bike handling. Furthermore, the increased desire for carbon-reinforced bicycles due to cost reductions is expected to drive up demand.
Regional Segmentation Analysis:
The market is analyzed based on North America, Europe, Asia Pacific, South America, and the Middle East, and Africa. Asia Pacific region emerged as the largest market for the global sports composites market, with 1.08 billion market revenue in 2021. Due to several significant players in this region, Asia-Pacific is the greatest contributor in terms of market revenue. Due to predicted increasing bicycle manufacturing in India and China, Asia Pacific is likely to lead the market for sports composites over the forecast period. Moreover, low-cost labour availability, a developing manufacturing sector, and the expanding prominence of sports like as golfing, handball, and volleyball are a few reasons that are anticipated to boost the market for sports composites. Due to the increasing desire for bicycles in Norway, Sweden, and the Netherlands, Europe is also expected to be a promising area for sports composites.
The significant market players include Zoltek Carbon Fibers, Protech Composites, Rockwood Composites Limited, Saint-Gobain Vetrotex and Entropy Resins Inc., among others.
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