Overview and Scope
Sports composites are fibers that are used to improve the strength of sports equipment, decrease its weight, and reduce its cost. Composites reduce the weight of the helmet that protects motorcyclists. They are used to upgrade sports equipment and protect athletes from injury.
Sizing and Forecast
The sports composites market size has grown strongly in recent years. It will grow from $3.54 billion in 2023 to $3.81 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to weight reduction, high strength-to-weight ratio, increased sports participation.
The sports composites market size is expected to see strong growth in the next few years. It will grow to $5.14 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to rising demand for carbon fiber composites, focus on sustainability, emerging sports trends, increasing sports investment. Major trends in the forecast period include material advancements, customization, innovative manufacturing technologies.
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The sports composites market covered in this report is segmented –
1) By Fiber: Carbon, Glass, Other Fibers
2) By Rasin Type: Epoxy, Polyamide, Polyurethane, Polypropylene
3) By Application: Golf Sticks, Rackets, Bicycles, Hockey Sticks, Skis and Snowboards
North America was the largest region in the sports composites market in 2023. 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
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Major Driver Impacting Market Growth
The rising sports industry is expected to propel the growth of the sports composites market going forward. The sports industry refers to an industry in which people, activities, and organizations are involved in producing, facilitating, promoting, or organizing any activities that are focused on sports. Sports composites are used to make lightweight sports equipment. For instance, in 2021, according to GroupM ESP, an India-based media investment management company, in 2021, the Indian sports business invested $1.22 billion, representing a 62% increase over the previous year. In addition, media spending on cricket climbed by 8.1% in 2021 to $728.6 million, up from $673.8 million in 2019. Therefore, the rising sports industry is driving the growth of the sports composites market.
Key Industry Players
Major companies operating in the sports composites market report are 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.,
The sports composites market report table of contents includes:
1. Executive Summary
2. Sports Composites Market Characteristics
3. Sports Composites Market Trends And Strategies
4. Sports Composites Market – Macro Economic Scenario
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31. Global Sports Composites Market Competitive Benchmarking
32. Global Sports Composites Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Sports Composites Market
34. Sports Composites Market Future Outlook and Potential Analysis
