LONDON, Oct. 5, 2016 /PRNewswire/ -- "Increasing demand for lightweight and high strength materials are expected to drive the sports composites market"
The global sports composites market is projected to reach USD 3.75 billion by 2021, registering a CAGR of 5.59% between 2016 and 2021. The major drivers fueling the growth of the sports composites market are increasing use of lightweight materials in sporting goods equipment and growing demand of composites from golf stick and racket application segments.
"Golf stick is the fastest-growing application of the sports composites market."
The two important considerations that influence the use of shaft materials for design of golf shaft and club performance are swing and strike. Therefore, the use of composites in the manufacturing and production of golf club shafts and club heads has been aided, as these materials offer lighter weight, a high tech image to a rather affluent market, and variety of design options that are not available with traditional steel material. In addition, the change in rules of United States Golf Association (USGA) allows the golfer to purchase multiple and interchangeable shafts for a single club, thereby, enabling an easy change to a shaft design that offers the desirable characteristic. This is why; golf stick is projected to be the fastest-growing application in the sports composites market.
"Asia-Pacific is the fastest-growing market for composites-based sporting goods."
Asia-Pacific is the fastest-growing region in the sports composites market. Easy availability of raw materials, low labor costs, growing manufacturing industries, new product developments, capacity expansions, and new plant establishments by various leading players are few factors leading to the growth of the sports composites market in this region.
China & Taiwan dominated the market for composites-based sporting goods in Asia-Pacific. Its consumption of composites has grown exceptionally and is expected to witness further growth in the near future. The increased number of joint ventures & collaborations between composite manufacturers and OEMs are driving the growth of market for composite-based sporting goods in the country.
This study has been validated through primaries conducted with various industry experts, globally. These primary sources have been divided in three categories:
- By Company Type- Tier 1- 24%, Tier 2- 32%, and Tier 3- 44%
- By Designation- C Level- 35%, Director Level- 20%, and Others- 45%
- By Region- North America- 25%, Europe- 30%, Asia-Pacific- 40%, and RoW (5%)
The report also provides company profiles and competitive strategies adopted by the major market players; the various key players profiled in the report are as follows:
- Aldila Inc. (U.S.)
- Amer Sports (Finland)
- Fischer Sports GmbH (Austria)
- Jarden Composites (U.S.)
- Rossignol (France)
- Topkey Corporation (Taiwan)
- E. I. du Pont de Nemours and Company (U.S.)
- Hexion Inc. (U.S.)
- Toray Industries Inc. (Japan)
- SGL Group (Germany)
- Other key players
Reasons to buy the report
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the sports composites market comprehensively and provide the closest approximations of the revenue numbers for the overall market and the subsegments across the different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand the competitors and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers & acquisitions.
Download the full report: https://www.reportbuyer.com/product/3776263/
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/sports-composites-market-by-resin-type-fiber-type-application--by-region---global-forecasts-to-2021-300340257.html