Golf Sticks Emerges a New Growth Avenue for Sport Composite Manufacturers

NEW YORK, Sept. 1, 2021 /PRNewswire/ -- As per insights by Fact.MR, the global market for sports composites is anticipated to grow at a CAGR of 5%, totaling US$ 4 Bn by the end of 2031.

Increasing utilization of composites for sports equipment production owing to their excellent shock absorption capacity is expected to drive the sports composites market. Also, the demand for durable materials for production of rackets, skis, and hover boards is presenting a positive demand outlook.

The market will continue gaining from high usage of carbon fiber sports composites in the form of textiles in various sports applications. Besides these, the emerging fitness trend, encouraging people to maintain a healthy lifestyle is also likely to boost the market.

Increasing inclination towards golf has stimulated the demand for golf shafts, which is further accelerating sales prospects. Among various fibers, the carbon fiber segment is anticipated to contribute the leading share towards the revenue generated in the market owing to increasing use of fibers in rackets, golf clubs and bicycle frames.

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Meanwhile, among resins, polyamide resin segment will showcase a high rate of growth over the forecast period owing to growing demand for hockey sticks.

Regionally, North America will remain a highly lucrative market owing to surging demand for artificial turf for golf, basketball, and football courts. Demand outlook for the U.S. remains positive. As per Fact.MR, the U.S. market for sports composites is estimated to total US$ 528 Mn in 2021.

"Leading manufacturers are focusing on expanding their global footprint. Therefore, they are undertaking strategic collaborations and acquisitions. Also, increasing product launches is catering to the growth of the sports composites market," says a Fact.MR analyst.

Key Takeaways from Sports Composites Market Survey

• Due to increasing use of composites for different sports, North America market for sports composites is estimated to account for over 35% of total market revenue.
• Europe market for sports composites is poised to expand at a healthy CAGR owing to increasing adoption of hockey and tennis across France and Germany.
• China is projected to grow at a CAGR of 6.5% over the forecast period, totaling US$ 749 Mn by the end of 2031.
• Japan and Canada are forecast to grow at CAGRs of 4% and 5% respectively over the assessment period 2021-2031.
• The market for sports composites was estimated at nearly US$ 1.6 Bn in 2016.

Key Drivers

• Rising demand for lightweight and high performance sports equipment is driving the growth of the sports composites market.
• Increasing demand for golf shafts is boding well for the market growth.

Key Restraints

• Unfavorable conditions arising due to COVID-19 outbreak may hamper market growth.
• High cost associated with composites is expected to hinder market growth.

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Competitive Landscape

Sports composites market players are focusing on mergers & acquisitions and capacity expansions to enhance their global footprint.

For instance, in 2018, Toray Industries, Inc announced the launch of its evolved TORAYCA® MX Series carbon fiber with high compressive strength and high tensile modulus to introduce prepreg to a number of applications.

SGL Carbon, a global leader of carbon products manufacturing, announced the capacity expansion of Moses Lake Facility by 3000 tons, which in turn will enhance their market share.

Some of the leading players operating in the sports composites market profiled by Fact.MR are:

• Aldila
• Amer Sports
• Fischer Sports GmbH
• Jarden Corporation
• Rossignol
• Topkey Corporation
• DuPont
• Hexion
• SGL
• Toray Industries

More Valuable Insights on Sports Composites Market

Fact.MR, in its new report, offers an unbiased analysis of the global sports composites market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on sports composites market with detailed segmentation:

• By Resin
• Epoxy Resin-based Sports Composites
• Polyamide Resin-based Sports Composites
• Polyurethane Resin-based Sports Composites
• Polypropylene Resin-based Sports Composites
• By Fiber
• Carbon Fiber Sports Composites
• Glass Fiber Sports Composites
• By Application
• Sports Composites for Golf Sticks
• Sports Composites for Rackets
• Sports Composites for Bicycle Frames
• Sports Composites for Hockey Sticks
• Sports Composites for Skis, Snowboards, and Kayaks

Key Questions Covered in the Sports Composites Market Report 

• The market survey also highlights projected sales growth for sports composites market between 2021 and 2031
• The report offers insight into sports composites demand outlook for forecast period 2021-2031
• Sports composites market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others 
• Sports composites market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry 

Explore Fact.MR's Coverage on the Chemical & Materials Domain –

Closed Molding Composites Market- Closed molding composites are made using an automated heavy-set method of mixing raw components placed in a vacuum bag or a closed mold. Because they are more environmentally benign, closed molding composites are mostly employed in infusion or vacuum bagging. Growing urbanization around the world, increasing industrial applications, increasing number of multinational corporations, outlets, and local supply chains, increasing productivity through innovative engineering approaches, reducing energy consumption, and lowering emission levels are just a few of the factors that could help the market expand.

Continuous Fiber-Reinforced Thermoplastic (CFRTP) Composites Market- Continuous fiber-reinforced thermoplastic composites are strong and lightweight, allowing end products to be lighter while maintaining their strength and stiffness. Manufacturers of continuous fiber-reinforced thermoplastic composites work closely with their partners to advertise their products. Despite the fact that carbon fiber and glass fiber thermoplastic composites hold the majority of the market, demand for CFRTP composites has grown rapidly in recent years due to their unique properties.

Reinforced Carbon-Carbon Composite Market- Reinforced carbon-carbon composite is a cutting-edge material that has exploded in popularity during the last half-decade. Reinforced carbon-carbon composites are used in a variety of industries, including automotive, electronics, energy, and the manufacturing of industrial furnaces. The automobile sector has taken the majority of the market in the last half-decade due to their offering of light bodies in relation to the entire automotive manufactured. In the automotive industry, properties like flexural resistance and high mechanical strength favor reinforced carbon-carbon composites over CF and CFRP.

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