BURLINGAME, Calif., July 4, 2024
/PRNewswire/ -- The global Sports Composites Market, valued at
$4.73 billion in 2024, is on a
trajectory of rapid expansion, with projections indicating it will
soar to $6.2 billion by 2031, growing
at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031,
as per a recent report by Coherent Market Insights. Growing demand
for high performance sports equipment has led to increased adoption
of composites in various sports equipment like golf shafts, tennis
rackets, bicycles, fishing rods etc. Composites allow equipment
designers to tailor the strength, weight and flexibility
requirements as per the needs of different sports. This has helped
in developing sports equipment with enhanced performance
capabilities.
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Market Dynamics:
The global sports composites market is primarily driven by
rising sports participation and growing demand for lightweight
sporting goods. According to the Sporting Goods Manufacturers
Association, sports participation has increased significantly in
recent years. Sports such as golf, tennis, cycling, and other
racket sports have witnessed increased participation. In addition,
growing health awareness among consumers has propelled
participation in sports like running and adventure sports. The
demand for innovative, high-performance, and durable sporting goods
has increased correspondingly. Sports composites offer advantages
such as lightweight, strength, durability, and custom design
flexibility, making them preferred material for manufacturing
various sporting goods.
Sports Composites Market Report Coverage
Report
Coverage
|
Details
|
Market Revenue in
2024
|
$4.73 billion
|
Estimated Value by
2031
|
$6.2 billion
|
Growth
Rate
|
Poised to grow at a
CAGR of 4.9%
|
Historical
Data
|
2019–2023
|
Forecast
Period
|
2024–2031
|
Forecast
Units
|
Value (USD
Million/Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
By Resin Type, By Fiber
Type, By Application
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, and Rest of World
|
Growth
Drivers
|
• Growing popularity
and globalization of sports
• Stringent safety and
quality standards
|
Restraints &
Challenges
|
• Pricing Pressures
from Cheaper Substitute
• Availability of
cheaper substitutes like aluminum and steel
|
Market Trends:
Increasing adoption of bio-based composites: Owing to rising
environment concerns, bio-based and sustainable materials are
gaining traction in the sports composites market. For example,
Toray Industries has developed Torayca T1100G, a carbon fiber made
from renewable raw materials for manufacturing golf club shafts and
bicycle frames. Similarly, Anthropic has launched a line of
bio-based prepreg tapes made from recycled materials for 3D printed
components.
Growing demand for customized sports gear: 3D printing
technology is enabling on-demand customization of sports gear and
equipment. Companies such as Carbon offer digital manufacturing of
customized mountain bike frames, helmets, and other gear using 3D
printing. Players can get sports gear tailored to their exact body
measurements and preferences. This trend is expected to drive the
demand for customized sports composites in the coming years.
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Market Opportunities:
The growing popularity of golf is driving demand for
high-performance golf club shafts. Carbon fiber and other composite
materials allow shaft manufacturers to precisely engineer shafts
for specific swing characteristics, like extra stiffness or torque.
This results in straighter shots and more distance off the tee.
Advanced composite shafts are increasingly replacing steel and
graphite shafts. The lightweight and high strength properties of
composites improve club head speed and power transfer. Over the
forecast period, new composite formulations and production
technologies will continue optimizing shaft performance. This will
attract more amateur and professional golfers to premium shaft
options.
Carbon fiber has largely displaced wood in hockey sticks due to
its strength, lightweight, and flex properties. It allows for
sticks with thinner walls that are more durable yet responsive.
Composite sticks also last longer than wood before cracking or
splintering. Hockey players continue demanding sticks that deliver
more velocity on shots. Manufacturers are answering this with new
composite layups and treatments that tune the flex profile of
sticks. Top players endorse sticks engineered specifically for
their shot, further popularizing high-performance composites.
Increased popularity of indoor ball hockey and street hockey also
drives demand for affordable composite sticks.
Key Market Takeaways
The global sports composites market is anticipated to witness a
CAGR of 4.9% during the forecast period 2024-2031, owing to steady
innovations enabling advanced performance and equipment
durability.
On the basis of resin, the polyurethane segment is expected to
hold a dominant position, owing to its high strength and
flexibility making it well-suited for sticks, shafts and bicycles
requiring energy transfer.
On the basis of material, the glass fiber segment is expected to
hold a dominant position over the forecast period, due to its low
cost and adequate mechanical properties for many applications like
hockey sticks and bicycle frames.
On the basis of application, the hockey sticks segment is
expected to hold a dominant position over the forecast period, due
to the growing popularity of field and ball hockey and modern
sticks offering more velocity on shots.
By region, North America is
expected to hold a dominant position over the forecast period, due
to its large consumer base for golf and hockey and presence of
major OEMs.
Key players operating in the sports composites market include
Amer Sports, Rossignol, and Zoltek
Carbon Fiber. Through intensive R&D, these companies continue
developing more innovative composites to enhance sports equipment
performance.
Recent Developments:
In January 2021, Amer Sports agreed to sell Precor to Peloton
Interactive Inc.
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Market Segmentation
By Resin Type:
- Acrylic
- Epoxy
- Polyamide
- Polyurethane
- Others (Polypropylene, etc.)
By Fiber Type:
- Glass
- Carbon
- Other Fiber Type
By Application:
- Golf Shafts
- Hockey Sticks
- Rackets
- Bicycles
- Others (Skis and Snowboards, etc.)
By Regional:
North America:
Latin America:
- Brazil
- Argentina
- Mexico
- Rest of Latin America
Europe:
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
Asia Pacific:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
Middle East:
- GCC Countries
- Israel
- Rest of Middle East
Africa:
- South Africa
- North Africa
- Central Africa
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