Sports Composites Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Sports Composites Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The global market for sports composites is expected to register a CAGR of over 4% during the forecast period. The major factor driving the market studied is the increasing demand for lightweight and high-performance sports equipment during the forecast period. On the flip side, unfavorable conditions arising due to the COVID-19 outbreak is hindering the growth of the market.

• Golf shafts application is expected to dominate the sports composites market over the forecast period.
• North America region is expected to dominate the global sports composites market during the forecast period.

• Sports composites are two or more chemically distinct materials combined with having improved properties.
• Golf shafts are manufactured from a wide variety of materials, including composites. Usage of carbon fiber reinforced materials made golf shafts much lighter in weight than a metal rod.
• According to the National Golf Foundation, more than 35% of the population over the age of 5 in the United States either played, watched, or read about golf in 2019.
• Moreover, 2.6 million people played golf for recreation in the United States for the first time in 2018, representing the highest figure till date.
• Additionally, increasing tournaments for golf and also the upcoming 2020 Summer Olympic Games in Tokyo are also providing opportunities for the golf.
• Therefore, the growing interest in golf among people has been boosting the demand for golf shafts, which is further propelling the demand for the market studied.

• North America region is expected to dominate the global sports composites market during the forecast period.
• The sports industry has been growing at a significant rate in recent times, owing to high competition, media sponsorships, increased social awareness, among others.
• According to the National Golf Foundation, golf is one of the biggest recreational sports in the United States in recent times.
• Additionally, according to the Sports & Fitness Industry Association, government and private organizations are spending more money on golf shafts in the country.
• Other than golf, hockey is also one of the popular sports in the region. An increasing number of college hockey programs are also boosting the number of hockey players in recent times.
• Therefore, the demand for sports equipment, such as golf shafts, hockey sticks, rackets, and bicycles, among others, is expected to grow in recent times, which further has been boosting the demand for the market studied in the region.

The global sports composites market is partially consolidated in nature. The major companies are Dupont, SGL Carbon, Rock West Composites, Topkey, and Fujikura Composites Inc., among others.

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support