Sports Composites Market Analysis Report By Resin, By Material, By Application And Segment Forecasts From 2020 To 2027

Report ID: MN17618142  |  Published: September 2020  |  No of Pages: 95
Format: Electronic (PDF)  |  Industry: Chemicals & Materials

Industry Insights

The global sports composites market size was worth USD 3.48 billion in the year 2019. Increasing demand for durable items in the manufacturing of skis, hoverboards, and rackets is likely to augment market growth in the upcoming years. Additionally, increasing expenditure on the production of innovative products that enhance the strength and boost and golf clubs and hockey sticks, by lowering the total weight is anticipated to increase carbon composites requirement. Moreover, the rising usage of carbon fiber as a textile and prepreg in several sports applications is likely to stimulate demand.

The composite materials procured for producing sports equipment are classified based on the technology used for manufacturing carbon fiber. Higher adoption of constant processing techniques deployed in creating glass reinforced plastics (GRP) is anticipated to lead to higher production of equipment like snowboards, longboards, and skis.

Germany sports composites marketThe carbon fiber market is primarily concentrated, with four participants accounting for nearly half the overall production in 2019. The composites of carbon fiber are largely used in the manufacturing of sports composite materials. The industry is segmented by a higher range of forwarding integration with few key manufacturers like Rossignol and Fischer Sports being the major distributors.

Material Insights

In 2019, carbon fiber held the dominant position with the majority of shares due to the higher adoption of fiber in bicycle frames, rackets, and golf clubs. Easy availability of raw material along with superior manufacturing techniques deployed in the production process is likely to boost growth during the projected period.

The rising adoption of glass fiber in snowboards, longboards, and skis due to improved performance is anticipated to surge sports composites market growth by 2027. Glass fibers are largely used in manufacturing snowboards & skis due to their ability to enhance sliding features and provide higher strength while landing.

Resin Insights

The polyamide segment is projected to observe substantial growth due to the rising need for hockey sticks. Moreover, properties of polyamide like better energy transfer are likely to stimulate demand in the seven-eight years. This type of resin is used as a reinforcement item in the blade of the hockey stick as it safeguards the blade against damage from increase impact collisions, ensuring stick weight at a minimum.

Polyurethane held a little over 13.0% share in the market by volume in 2019. The higher adoption of this resin in reinforcing equipment like hockey sticks and polo sticks due to higher durability and strength is anticipated to boost the demand. Moreover, higher use of the segment in court floors provides strength to the floor and offers ease of maintenance and cleaning of the floor. The rising use of artificial turf for American football, rugby, and hockey is predicted to boost the demand for resin by 2027.

Application Insights

The bicycle application segment is predicted to observe considerable growth from 2020 to 2027. The growth can be attributed to the growing demand for lightweight bicycles in recreational activities and competitive sports. Further, substantial weight loss enhances bike control owing to the adoption of carbon composites in bicycles. Moreover, the growing need for carbon-reinforced bicycles owing to a reduction in cost is likely to boost the demand by 2027.

The growing use of GRPs in the form of a protective layer in snowboards and skis leads to improved control of the boards by the players. Additionally, glass composites in skis lead to lower equipment cost, better geometry, and reduced instances of bond fallouts which are likely to boost the market growth from 2020 to 2027.

Regional Insights

North America held around 30.0% share by revenue in the overall sports composites market in 2019 due to increased technological innovations resulting in higher use of composites for several sports equipment like lacrosse sticks and polo sticks. The increasing demand for artificial turf for sports including basketball, golf, and American football is anticipated to augment market growth throughout the projected period.

Europe held a considerable share in the market in 2019. This high share is attributed to the presence large number of manufacturers, thereby, increasing the availability of the products at competitive costs. Additionally, a higher inclination towards tennis and hockey in countries like France and Germany is anticipated to boost growth by 2027.

Impact of COVID-19

COVID-19 has adversely affected the market. Owing to the supply chain disruption, the production of sports equipment dropped considerably. In addition, various sporting events including Tokyo Olympic 2020, Indian Premier League, NBA, Asian street championship for skateboarding, French Open in Tennis, and others have been either canceled or rescheduled to later dates. This factor has led to a rapid decline in the demand for sports equipment. However, most of the events are taking place in the latter half of 2020 and some of them are estimated to take place early next year, thereby, offering significant opportunities for the market players.

Sports composites Market Share Insights

The market is differentiated by constant product innovation, capacity increases, and mergers & acquisitions. Major participants in the market include Rossignol, Jarden Composites, SGL Group, Aldila Inc., and Toray Industries Inc. These players are focusing on introducing lightweight and durable composites to garner a larger consumer base. For example, in 2020, Looks introduced T20 track bikes which use lightweight composite.

Report Scope

Attribute

Details

The base year for estimation

2019

Actual estimates/Historical data

2016 - 2018

Forecast period

2020 - 2027

Market representation

Revenue in USD Million & CAGR from 2020 to 2027

Regional scope

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

Country Scope           

U.S., Canada, Mexico, UK, Germany, Spain, China, India, Japan, Brazil

Report coverage

Revenue forecast, company share, competitive landscape, and growth factors and trends

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Segments Covered in the Report
 

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For this study, Million Insights has segmented the global sports composites market based on resins, materials, applications, and regions:

• Sports Composites Resin Outlook (Volume, Tons; Revenue, USD Million, 2016 - 2027)
    • Epoxy
    • Polyurethane
    • Polyamide
    • Polypropylene
    • Others

• Sports Composites Material Outlook (Volume, Tons; Revenue, USD Million, 2016 - 2027)
    • Carbon
    • Glass
    • Others

• Sports Composites Application Outlook (Volume, Tons; Revenue, USD Million, 2016 - 2027)
    • Golf Clubs
    • Hockey Sticks
    • Rackets
    • Bicycle
    • Skis and Snowboards
    • Others

Sports Composites Regional Outlook (Volume, Tons; Revenue, USD Million, 2016 - 2027)
    • North America
        • U.S.
        • Canada
        • Mexico
    • Europe
        • Germany
        • UK
        • Spain
    • The Asia Pacific
        • China
        • India
        • Japan
    • Latin America
        • Brazil
    • Middle East and Africa
        • South Africa

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