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New York, Sept. 22, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report 'Sports Composites Global Market Report 2022' -
The global sports composites market is expected to grow from $3.01 billion in 2021 to $3.25 billion in 2022 at a compound annual growth rate (CAGR) of 8%. The sports composites market is expected to reach $4.11 billion in 2026 at a CAGR of 6.1%.
The sports composite market consists of sales of sports composites by entities (organizations, sole traders, and partnerships) that are used to upgrade sports equipment and protect athletes from injury.Sports composites are fibers that are used to improve the strength of sports equipment, decrease its weight, and reduce its cost.
Composites reduce the weight of the helmet that protects motorcyclists. They are majorly used in badminton rackets, motorcycles, bicycles, among others.
The main types of fibers in sports composites are carbon, glass, and others.Carbon sports composites are widely used in the production of sports equipment such as sports sticks and rackets, owing to their advanced qualities such as being a lightweight, high strength-to-weight ratio, increased resistance, and stiffness.
This is also called graphite fiber. The various resin types include epoxy, polyamide, polyurethane, and polypropylene, which are used in numerous applications such as golf sticks, rackets, bicycles, hockey sticks, skis and snowboards.
North America was the largest region in the sports composites market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the sports composites market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The sports composites market research report is one of a series of new reports that provides sports composites market statistics, including global market size, regional shares, competitors with a sports composites market share, detailed sports composites market segments, market trends and opportunities, and any further data you may need to thrive in the sports composites industry. This sports composites market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The rising sports industry is expected to propel the growth of the sports composites market going forward.The sports industry refers to an industry in which people, activities, and organizations are involved in producing, facilitating, promoting, or organizing any activities that are focused on sports.
Sports composites are used to make lightweight sports equipment. For instance, in 2021, according to GroupM ESP, an India-based media investment management company, in 2021, the Indian sports business invested $1.22 billion, representing a 62% increase over the previous year. In addition, media spending on cricket climbed by 8.1% in 2021 to $728.6 million, up from $673.8 million in 2019. Therefore, the rising sports industry is driving the growth of the sports composites market.
Technological advancements have emerged as a key trend gaining popularity in the sports composite market.Major companies operating in the sports composites sector are focused on introducing new technological products to sustain their position.
For instance, in 2020, Aldila, a US-based company that manufactures sports equipment, launched ALDILA ASCENT, an ultra-light golf shaft series.This model delivers an easy, high launch angle and also helps in controlling spin and face deflection for a higher ball flight with long descent roll out.
It also has FlyDrive Technology, which is a full-length Visco-Elastic Isolation Layer (VEIL) that boosts the shaft's resistance to ovaling while improving overall strength and feel.
In March 2019, Anta Sports, a China-based company that manufactures sports equipment, acquired Amer Sports for a deal amount of US $5.15 billion. With this acquisition, Anta Sports would extend its business throughout Europe, as well as establish multi-brand and one-channel strategies. Amer Sports is a Finland-based company that manufactures sporting goods.
The countries covered in the sports composites market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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