Sports Composites Market Will Rise at a CAGR of US$ 5.1 billion by 2026, at a CAGR of 4.8%| MarketsandMarkets™
Sports composites are composite materials designed specifically for use in sports equipment. They are typically made from a combination of materials such as carbon fiber, fiberglass, Kevlar, and other materials. These composites are designed to be lightweight, strong, and durable enough to withstand the rigors of use in sports and recreational activities. Sports composites are used in a wide range of sports equipment, including bats, helmets, protective gear, skis, snowboards, bicycles, and more. The demand for these materials has grown exponentially in recent years due to their unique properties that give athletes an edge over the competition. Athletes can gain an advantage through improved power, speed, and agility because of using composite materials. Additionally, composite materials can help reduce the risk of injury, as they are designed to absorb impact and reduce the risk of serious injury. As a result, sports composites are becoming increasingly popular and in high demand. The global Sports Composites Market is expected to grow from USD 4.1 billion in 2021 to USD 5.1 billion by 2026, at a CAGR of 4.8% during the forecast period.
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The glass fiber segment dominates the sports composites market, both in terms of volume.
Glass fiber-reinforced composites provide a lightweight, strong, and durable material that is used to manufacture a wide range of sports equipment, including racquets, golf clubs, baseball bats, hockey sticks, and more. Its superior characteristics allow for improved performance, increased accuracy, and better control. Moreover, glass fiber-reinforced composites require minimal maintenance and provide a comfortable grip. This has made them the preferred choice for sports equipment manufacturers. Furthermore, advancements in technology have enabled the production of glass fiber-reinforced composites with superior properties, making them even more attractive for use in sports equipment.
The epoxy resin segment comprises a major share of the sports composites market, in terms of value and volume.
The epoxy resin segment is driven by its growing demand in the sports industry, primarily due to its superior properties such as superior strength, superior adhesion, and superior chemical resistance. In addition, its lightweight and high-performance characteristics make it ideal for use in sports equipment. Epoxy resins are used in the production of sports composites such as carbon fiber-reinforced plastics, fiberglass-reinforced plastics, and aramid fiber-reinforced plastics. The increasing demand for advanced and lightweight sports equipment is driving the growth of the epoxy resin segment of the sports composites market.
The skis & snowboards segment comprises a major share of the sports composites market, in terms of value and volume.
The ski and snowboard segment is projected to register the fastest growth rate over the forecast period, owing to increasing demand for lightweight and stronger skis and snowboards. Growing winter sports activities, such as skiing and snowboarding, in both developed and emerging countries, are contributing to the growth of the market. Furthermore, the ski and snowboard manufacturers are focusing on the development of new products, such as composite skis and snowboards, designed specifically for different kinds of terrain and snow conditions, which are expected to drive market growth. Moreover, the introduction of advanced technologies, such as 3D printing, is projected to further propel the market for ski and snowboard composites in the near future.
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Asia Pacific is expected to account for the largest market share in the sports composites market in terms of value and volume.
The Asia Pacific region is the largest and fastest-growing market for sports composites, driven by the rapid growth in the sports industry in the region. The demand for sports composites in countries such as China, India, Japan, South Korea, and Australia is increasing due to the rising popularity of various sports activities. The growing disposable incomes of the people in the Asia Pacific countries coupled with the presence of numerous sports academies and clubs are also contributing to the growth of the sports composites market in this region. The increasing government initiatives and investments in the sports sector are also contributing to the growth of the market in the Asia Pacific region.
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).
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