Sports Composites Market Size To Reach USD 7.10 Billion By 2032 Enhanced On Safety And Durability Drive Sports Composites Industry | Report By SNS Insider

(MENAFN- GlobeNewsWire - Nasdaq) The Sports Composites market is growing due to the rising health and fitness consciousness that is driving demand for advanced sports gear.

Austin, Aug. 06, 2024 (GLOBE NEWSWIRE) -- The Sports Composites Market S ize is projected to reach USD 7.10 billion by 2032 and grow at a CAGR of 5.00% over the forecast period of 2024-2032.

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Key Players:

• Rossignol
• Ficher Sports
• Amer Sports
• Fujikura Composites
• True Temper
• Newell Brands
• Topkey Corporation
• Callway Golf
• ALDILA Inc
• Prokennex

Rising lightweight and high-performance materials products drive market growth.

The desire for improved performance and a competitive edge is behind the growing demand for lightweight materials in sporting goods. Sports equipment producers and athletes are always looking for materials that can increase their overall efficiency, speed, and agility. In this sense, composites like carbon and glass fiber are widely prized for their remarkable strength-to-weight ratio.

In addition, the increase in professional sports leagues and events worldwide has increased the use of innovative sports equipment which has augmented demand for sports composites. Governments, therefore, recognize the economic and social benefits of constructing new sports facilities as well as staging major sporting events. For example, such a tendency has been molded by the U.S. government committing financial resources to construct sporting arenas and also its efforts in line with the International Olympic Committee's goals of developing worldwide sports.

According to estimates from the European Commission, the sports business in Europe alone is valued at approximately USD 326.80 billion, demonstrating both its significant economic impact and the ensuing demand for high-performance equipment.

This increased focus on innovation and performance is driven by the expanding professional sports market, which continues to push for equipment that offers a competitive edge, further accelerating the growth of the sports composites sector.

Sports Composites Market Report Scope & Overview:

Report Attributes	Details
Market Size in 2023	USD 4.58 billion
Market Size in 20 32	USD 7.10 billion
CAGR (2024-2032)	5%
Report Scope & Coverage	Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Market Driver	The rising usage of agile and less-weight sports equipment drives the market growth.

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Segmentation Analysis

By Resin Type

The epoxy resin segment dominated the sports composites market with the highest revenue share of more than 38.23% in 2023. One of the most common materials in manufacturing high-performance sporting goods is epoxy. Owing to its exceptional power and very good affect resistance, it is a top option for uses such as carbon fiber engineered composites in pressure delicate tapes (advertising vinyl), conveyor belts automobile visual appeal sections. Polyurethane resin is flexible and strong, enabling its use in sports composites for impact resistance and shock absorption. Common usages of it are in athletic footwear, protective gear and pieces requiring a combination of both strength and flexibility.

By Fiber Type

The carbon fiber held the largest market share of around 42.22% in 2023. This is because of its various strength-to-weight ratios, it is a popular material for high-performance sports equipment. Athletes looking for high-end equipment that improves performance are drawn to carbon fiber composites, which provide improved performance in everything from lightweight bicycle frames to robust tennis rackets. However, because of the complex manufacturing procedures involved, these composites are more expensive.

Glass fiber finds a market and offers a reasonably priced substitute for carbon fiber. Glass fiber composites are more durable and reasonably priced than their lighter counterparts, which makes them appropriate for a range of sporting applications. The glass fiber segment serves a wider market by offering entry-level sports gear and leisure equipment that balances affordability and performance across a range of sports.

By Application

The bicycle segment held the largest, market share in the application segment around 39.56% share of the market revenue in 2023. Sports composites are vital to the cycling industry because of their lightweight construction, which increases the speed of bicycles. Specifically, carbon fiber composites are often used to make strong, efficient bike frames that meet the needs of elite riders.

Regional Landscape:

In 2023, Asia Pacific held the largest market share of about 43.22% of the total sports composites market. Participation in sports and fitness activities is fuelled by the region's growing sports culture and rising disposable income. There has been a sharp rise in the market for high-performance sports gear, especially lightweight composites. The expansion of the region's capacity for producing cutting-edge goods will propel market expansion. Product demand is anticipated to increase as the Asia Pacific nations invest in sports infrastructure and host significant athletic events. Due to its massive production of sporting products and equipment, China is the most dominant nation in the region.

Recent Developments

• In 2023, Shimano Inc. made investments in composite technologies with the goal of creating novel bicycle carbon fiber components. Their larger plan to improve their product offerings and keep a competitive advantage in the market includes this expenditure.
• In 2023, De Rosa introduced Merak, a new road bike made of carbon fiber with improved comfort and stiffness thanks to the use of cutting-edge composite materials. The continued trend of incorporating cutting-edge composites into bicycle design is reflected in this latest release.

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Key Takeaways:

• Asia-Pacific holds the largest market share due to economic growth, increased sports engagement, and substantial investments in sports infrastructure.
• The key players focused on the partnership to enhance product offerings and expand the market reach.
• Advancements in composite materials science and production techniques are elevating sports equipment's functionality, robustness, and personalization.

Table of Contents – Major Key Points

1. Introduction

2. Industry Flowchart

3. Research Methodology

4. Market Dynamics

4.1 Drivers

4.2 Restraints

4.3 Opportunities

4.4 Challenges

5. Porter's 5 Forces Model

6. Pest Analysis

7. Sports Composites Market Segmentation, By Resin Type

• Polyurethane
• Epoxy
• Polyamide
• Polypropylene
• Others

8. Sports Composites Market Segmentation, By Fiber Type

• Carbon fiber
• Glass fiber
• Boron fiber
• Others

9. Sports Composites Market Segmentation, By Application

• Golf Sticks
• Hockey Sticks
• Racquets
• Bicycles
• Skies and Snowboards
• Windsurfing masts and boards
• Others

10. Regional Analysis

11. Company Profiles

12. Competitive Landscape

13. Use Case and Best Practices

14. Conclusion

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