What is the Historic and Current Scenario of the Sports Composites Market?
The sports composites market has seen considerable growth due to a variety of factors.
• Over the past few years, the size of the sports composites market has seen substantial growth. It is projected that it will expand from a value of $3.79 billion in 2024 to $4.07 billion in 2025, with a compound annual growth rate (CAGR) of 7.6%.
The surge in growth during the historic period can be associated with decrease in weight, an elevated strength-to-weight ratio, and a boost in sports participation.
What are the Forecasted Growth and Key Factors of the Sports Composites Market?
The sports composites market is expected to maintain its strong growth trajectory in upcoming years.
• Significant expansion is anticipated in the sports composites market space in the upcoming years, projected to reach a valuation of $5.64 billion in 2029, rising at a compounded annual growth rate (CAGR) of 8.5%.
The escalation in the forecast range can be linked to the mounting demand for carbon fiber composites, sustainable practices, burgeoning sports trends, and amplified investment in the sports sector. Key trends to look out for in this projection period are the progress in material technology, personalization, and groundbreaking production methods.
What Main Forces Are Fueling Expansion In The Sports Composites Market?
The sports composites market is projected to grow due to the escalating interest in cycling. The factors contributing to the upsurge in cycling include its numerous health benefits, eco-friendly nature, and its rising acceptance as a sustainable form of transportation together with burgeoning interest in fitness and leisure activities. Cycling is enhanced by sports composites as they decrease the weight of bicycles while increasing their strength, durability, and aerodynamic qualities, allowing cyclists to attain higher speeds with more efficacy and comfort. For example, in August 2024, GOV.UK, a government services and information source based in the UK, reported that people in England clocked a total of 0.9 billion cycling stages in 2023. Typically, an individual would complete 15 cycling trips and 16 cycling stages, covering a distance of 47 miles. Therefore, the growing interest in cycling is fuelling the expansion of the sports composites market.
What Are The Primary Segments In The Global Sports Composites Market?
The sports composites market covered in this report is segmented –
1) By Fiber: Carbon, Glass, Other Fibers
2) By Resin Type: Epoxy, Polyamide, Polyurethane, Polypropylene
3) By Application: Golf Sticks, Rackets, Bicycles, Hockey Sticks, Skis And Snowboards
Subsegments:
1) By Carbon: High-Modulus Carbon Fibers, Intermediate-Modulus Carbon Fibers, Low-Modulus Carbon Fibers
2) By Glass: E-Glass Fibers, S-Glass Fibers
3) By Other Fibers: Aramid Fibers, Natural Fibers, Basalt Fibers
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Which Key Trends Are Driving Changes In The Sports Composites Market?
In the sports composite market, product advancements represent a significant growing trend. Major market players in the sports composites industry are focusing their efforts on rolling out new products to maintain their market standing. To illustrate, in March 2023, SGL Carbon, a company based in Germany that manufactures carbon and graphite products, launched the SIGRAFIL C T50-4.9/235 carbon fiber. This product is designed for sports and other applications that demand high-strength and fiber elongation. Although the primary target was pressure vessels used for hydrogen storage in fuel cell vehicles, the sports industry, specifically equipment that necessitates lightweight but robust materials, could also benefit from this carbon fiber.
Who Are the Key Players in the Sports Composites Market?
Major companies operating in the sports composites market include:
• 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.
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What Is The Most Dominant Region In The Sports Composites Market?
North America was the largest region in the sports composites market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sports composites market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
