sports composites market
Growth Factors of sports composites market
The sports composites market size was valued at USD 4.38 billion in 2023 and is projected to grow from USD 4.71 billion in 2024 to USD 8.07 billion in 2032 at a CAGR of 7.0% during the forecast period of 2024-2032.
The COVID-19 pandemic disrupted the sports sports composites market because of giant lockdowns, manufacturing halts, and supply chain disturbances. Key sectors like wearing goods and aerospace, which closely use composites, professional decreased demand as patron spending shifted. Additionally, travel regulations impacted the shipping of raw substances and components, in addition slowing marketplace growth. However, as economies reopen and out of doors sports activities sports activities resume, the marketplace is recovering. Post-pandemic, there may be an growing awareness on sustainability and light-weight materials, which may pressure renewed hobby in advanced composites for usual performance enhancement.
A terrific fashion in the sports activities composites marketplace is the growing use of eco-friendly and sustainable substances. Manufacturers are integrating bio-based fibers and recyclable composites into sports gadget to lessen environmental effect. For example, tennis rackets, golfing clubs, and bicycles are being evolved with a focus on lighter, stronger, and extra sustainable materials. This fashion is pushed by using the use of growing customer focus and the need for companies to paste to environmental policies. The push towards sustainability is probable to hold shaping innovations in sports activities machine layout.
One of the number one using factors within the sports composites marketplace is the growing name for for mild-weight and high-ordinary overall performance sports activities device. Composite materials like carbon fiber and glass fiber are preferred for his or her capacity to enhance electricity, stiffness, and sturdiness on the same time as reducing weight. This is vital in sports activities wherein velocity and agility are key, collectively with biking, tennis, and golfing. As athletes seek a competitive aspect, the demand for superior substances that enhance typical performance with out compromising sturdiness maintains to gas market growth.
Comprehensive Analysis of sports composites market
The sports composites market growth is rising at an exponential rate due to its marketplace segmentation. This market expansion correctly affords a detailed local assessments thinking about the dominant supply and call for forces that effect the enterprise. These segmentations are methodically segregated by resin type, by fiber type, by application type . By Resin Type include Epoxy, Polyamide, Polyurethane, Others. By Fiber Type include Carbon, Glass, Others. By Application include Golf Shafts, Hockey Sticks, Rackets, Bicycles, Skis & Snowboards, Others.
The Asia Pacific region lead the sports composites market share by benefitting a market size of USD 1.87 billion due to the region’s expanding sports culture and rising disposable income drive involvement in sports and fitness activities.
The top players in the market play a crucial role in the industry assuring market growth and setting market standards. These players include, Google LLC (Alphabet, Inc.), Magic Leap, Inc., ReWalk Robotics, SAMSUNG, B-Temia, Panasonic Holdings Corporation, NVIDIA Corporation, Microsoft, Ekso Bionics, Vuzix,these market players provide a level-playing competitive landscape.
March 2023 – SGL Carbon added a new carbon fiber named ‘SIGRAFIL C T50-4.9/235’, characterised through excessive elongation and high energy. The new carbon fiber has applications in market segments such as sports activities, construction, and infrastructure that require fiber elongation high strength.
Segentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Unit Value (USD Billion) and Volume (Million Ton)
Growth Rate CAGR of 7.0% during 2024-2032
Segmentation By Resin Type
- Epoxy
- Polyamide
- Polyurethane
- Others
By Fiber Type
- Carbon
- Glass
- Others
By Application
- Golf Shafts
- Hockey Sticks
- Rackets
- Bicycles
- Skis & Snowboards
- Others
By Geography
- North America (By Resin Type, By Fiber Type, By Application, By Country)
- U.S. (By Application)
- Canada (By Application)
- Europe (By Resin Type, By Fiber Type, By Application, By Country)
- Germany (By Application)
- U.K. (By Application)
- France (By Application)
- Italy (By Application)
- Rest of Europe (By Application)
- Asia Pacific (By Resin Type, By Fiber Type, By Application, By Country)
- China (By Application)
- India (By Application)
- Japan (By Application)
- South Korea (By Application)
- Rest of Asia Pacific (By Application)
- Latin America (By Resin Type, By Fiber Type, By Application, By Country)
- Brazil (By Application)
- Mexico(By Application)
- Rest of Latin America (By Application)
- Middle East & Africa (By Resin Type, By Fiber Type, By Application, By Country)
- Saudi Arabia (By Application)
- South Africa(By Application)
- Rest of Middle East & Africa (By Application)
Please Note: It will take 2-3 business days to complete the report upon order confirmation.