New York, United States, Jan. 29, 2024 (GLOBE NEWSWIRE) -- The Global Sports Composites Market Size to Grow from USD 4.9 Billion in 2023 to USD 7.2 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 3.92% during the forecast period.
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The sports composites market has been steadily expanding in recent years. Composite materials offer a distinct combination of strength, durability, and lightness, making them ideal for usage in a wide range of sports equipment applications. From high-performance bicycles and tennis rackets to sophisticated golf clubs, composites are in high demand. The increased awareness of composites' benefits, including as improved performance and weight loss, has spurred their adoption in sports. Furthermore, advancements in composite manufacturing technology aid in the creation of one-of-a-kind, high-quality sporting equipment. Eco-friendly composites derived from renewable materials are gaining acceptance in the sports industry as the importance of sustainability develops.
Sports Composites Market Value Chain Analysis
This stage comprises the production of composite raw materials such as carbon fibres, fibreglass, resins, and other additives. The raw material suppliers have a significant impact on the final composite's quality and attributes. These companies transform fundamental elements into composite materials. When the fibres are combined with resins and other components, sheets or specific forms of composites are formed. When the composite materials have been completed, they are used to create particular components for athletic equipment. These are the companies that assemble finished sporting equipment from composite components. The finished sports equipment is then distributed through a range of channels, including wholesalers, stores, and online platforms. Finally, there are end users such as athletes and sports fans.
Sports Composites Market Opportunity Analysis
There are opportunities to develop novel composite materials that improve performance, durability, and potentially even sustainability. Advances in nanotechnology and bio-based composites may pave the way for new prospects. Personalised athletic equipment is gaining popularity. Companies that can produce configurable composite materials tailored to an individual athlete's preferences and playing style stand to benefit greatly. The use of technology into sports materials pave the way for smart equipment. Collaboration with well-known sports companies or athletes to create signature composite items can boost market awareness and reputation. Consumer trust and loyalty can be increased through endorsements and cooperation. Because of the use of 3D printing technology in composite production, intricate designs and personalisation are available.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Sports Composites Market Size By Type (Carbon Fiber, Glass Fiber), By Application (Golf Sticks, Hockey Sticks, Bicycles), By Region, And Segment Forecasts, By Geographic Scope And Forecasts to 2033."
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Insights by Type
The carbon fiber segment accounted for the largest market share over the forecast period 2023 to 2033. Carbon fibre is famous for having a high strength-to-weight ratio. This property is important in sporting equipment since it allows for the creation of lightweight yet durable goods. Athletes benefit from equipment that is both powerful and easy to use and move. Sports fans and pros alike are looking for equipment that will help them perform better. Carbon fibre composites provide increased stiffness and strength, which adds to improved responsiveness and performance in sports such as cycling, tennis, and golf. Carbon fibre is exceptionally fatigue resistant and durable. As a result, it is suitable for sports equipment that is subjected to repeated stresses and impacts, ensuring a longer lifespan and consistent performance over time.
Insights by Application
The bicycles segment accounted for the largest market share over the forecast period 2023 to 2033. Composite materials, notably carbon fibre, are extensively used in bicycle frames and components to provide a lightweight design without losing strength. Losing weight enhances overall bike performance by making it easier to handle, climb hills, and accelerate. The aerodynamic properties of composite materials enable the fabrication of streamlined and aerodynamic bicycle frames. Aerodynamic designs reduce air resistance, enhancing cycling efficiency, particularly at faster speeds. This is especially important for professional cyclists and cyclists who want to improve their speed. The growing popularity of electric bikes (e-bikes) has raised demand in the cycling market for sophisticated materials. Composite materials are used to make lightweight frames for electric bikes, which helps to the overall growth of the e-bike industry.
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Insights by Region
North America is anticipated to dominate the Sports Composites Market from 2023 to 2033. The sports scene in North America is diverse, with major leagues like the NFL, NBA, MLB, and NHL, as well as a significant market for individual sports like golf, tennis, and cycling. This variant brings up a world of possibilities for sports composites in a wide range of activities. The region is a hub for technological innovation, which extends to the sports industry. North American enterprises are pioneers in the development of cutting-edge composite materials and sports equipment manufacturing techniques. High-performance sports equipment is in high demand among North American consumers. This requirement supports the development of complex materials, such as carbon fibre composites, in products ranging from baseball bats to hockey sticks.
Asia Pacific is witnessing the fastest market growth between 2023 to 2033. With increased participation and interest in a variety of sports, the Asia-Pacific region is witnessing a burgeoning sports culture. This cultural shift raises the need for high-performance sports equipment, notably complex composites. Asia-Pacific is a major manufacturing centre for sporting equipment, particularly composites. Manufacturing capabilities in the region, combined with technological advancements, result in the development of a varied range of sports composites. The hosting of major sporting events such as the Olympics and Asian Games in the Asia-Pacific area has a significant impact on the sports composites market. These events allow for the demonstration and promotion of current athletic equipment.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major Players in the Global Sports Composites Market Includes Aldila Inc., Head Inc., Top key Corporation, Amer Sports, Rossignol, Zoltek Carbon Fiber, Fischer Sports GmbH, Rockwood Composites Limited, Bell Helmets Inc., Protech Composites and Other Key Vendors.
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Recent Market Developments
- In January 2021, Amer Sports signed a deal with Peloton Interactive Inc. for the sale of Precor.
Market Segmentation
This study forecasts revenue at global, regional, and country levels from 2023 to 2033.
Sports Composites Market, Type Analysis
- Carbon Fiber
- Glass Fiber
Sports Composites Market, Application Analysis
- Golf Sticks
- Hockey Sticks
- Bicycles
Sports Composites Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
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