The global sports composites global market size is predicted to elevate from 2024 to 2032.
High demand for lightweight sports equipment and awareness about sports has resulted in the driving key factor for the sports composites market. Composites also tend to lower the risk of injury and provide various designs with corrosion resistance.
Fortune Business Insights provides this information in its report titled, “Sports Composites Market, 2024-2032.
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Segmentation:
Based on the fibre type, the market is divided into Carbon fibres, glass fibres, and so on. The largest market share is held by carbon fibres because of their properties, such as better durability and low-weight high tensile strength material. It is a high demand for sports goods such as bicycle frames, fishing rods, and rackets.
On the basis of resin type, a significant share of the sports market is held by Polyamide resin due to its better properties for manufacturing a loud range of sports composites. Its cost is comparatively lower and its strength and toughness are the reasons for the high demand for materials.
Based on application, it is divided into golf sticks, bicycles, hockey sticks, rackets, skis, and snowboards. Bicycles are the largest share of the global sports composites market, and the demand for lightweight cycles has increased.
Geographically, the market is divided into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
Report Coverage:
This report covers the synopsis of the market that provides an analysis of the market, knock of COVID-19, segmentation, drivers, regional insights, competitive landscape, new growth, and presence of key players.
Drivers and Restraints:
Rising Importance of Sports and Living a Healthy Life Will Lead Market
Sports composites market growth is gaining awareness with the increase in living a healthy, stress-free life. With sports composites, the materials come with enhanced properties, leading to increased demand for sports equipment. Such enhanced composite materials are used in the sports industry and a wide range of industries such as aerospace, construction, automotive, and so on. The composites are in high demand for their properties as they have resistance to corrosion, variety in designs, and customizable features leading to the rising growth post-pandemic.
Regional Insights:
North America to Lead Backed by Elevating Demand for Sports Composites Market
North America is expected to hold the largest market share of sports composites, followed by Europe due to increased demand for its equipment.
Asia Pacific is expected to display big market growth due to the high demand for a variety of products from the sports industry. Increased demand for composites for the manufacturing of bicycles, hockey sticks, rackets, and so on.
Latin America, the Middle East & Africa are expected to showcase growth due to growing demand for the sports composites market from the sport, aerospace, and automotive industries.
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Competitive Landscape:
Partnership among Companies to Secure their Brand Value in the Market
Players in the market have launched new techniques to boost market growth with their solutions and elevate the competition in the market. It includes launching new designs and new products that are lightweight and comparatively lower in cost. Companies have been applying for various programs, such as partnerships and mergers, to support their position in the market.
Key Industry Development:
September 2024: The U.S. has inaugurated its new production line at Solvay, South Carolina. The new production will help the company double the raw materials’ production capacity to make carbon fibre composite material.
List of Key Players Mentioned in the Report:
- SGL Carbon SE
- Amer Sports
- Solvay
- Rossignol
- Saint Gobain
- Newell Brands
- Topkey Corporation
- ALDILA, INC.,
- Ficher Sports
- Fujikura Composites
- True Temper
- Callway Golf
- Prokennex
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