DALLAS, March 13, 2019 (GLOBE NEWSWIRE) -- According to a new market report published by Lucintel, the future of the composite materials in the global sporting goods industry looks attractive with opportunities in skis & snowboards, bicycle, rackets, golf clubs & shafts, hockey sticks, and fishing rod applications. The composite materials market in the global sporting goods industry is expected to reach an estimated $579 million by 2023 and is forecast to grow at a CAGR of 3.2% from 2018 to 2023. The major drivers for this market are increasing use of lightweight and high-performance materials in sports equipment.
Browse 79 market data tables and 136 figures spread through 193 pages and in-depth TOC on “Composite Materials in the Global Sporting Goods Market" at https://www.lucintel.com/composite-materials-in-the-global-sporting-goods-m.aspx
In this market, different types of composite materials in sporting goods such as golf clubs/shafts, hockey sticks, rackets, bicycle parts, skis/snowboards, fishing rods and others are used as application. Lucintel forecasts that skis & snowboard is expected to remain the largest application by volume and golf shafts & clubs by value.
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Asia Pacific is expected to remain the largest market and it is also expected to witness the highest growth over the forecast period. Asia Pacific became the home for leading composite component manufactures for sporting goods industry.
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Emerging trend, which has a direct impact on the dynamics for composites in the sporting goods industry, includes increasing use of thermoplastic resin based composite materials. Toray, Mitsubishi Rayon Co., TenCate, Lanxess and Hexcel are among the major composite materials to sporting goods manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed and forecasted for the composites in the sporting goods industry by application, reinforcement, resin, process and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Composite Materials in the Global Sporting Goods Market 2018-2023: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers and directions.
For a detailed table of contents, contact Lucintel at +1-972-636-5056 or mail at helpdesk@lucintel.com.