Sport Composites Market Size, Share and COVID-19 Impact Analysis, By Fiber Type (Carbon Fiber, Glass Fiber and others), By Resin Type (Epoxy Resin, Polyamide Resin, Polyurethane Resin, Polypropylene Resin, and others) By Application (Golf Stick, Bicycle, Hockey Stick, Rackets, Skis & Snowboards and others), and Regional Forecast, 2024-2032

Sports composites are those materials that are used in the manufacturing of sports goods or equipment. Composites are the materials produced from two or more different materials to obtain products with enhanced properties. Materials used for composites mainly include fibers and resins. In finished products original elements remain separate and distinct, distinguishing composites from solid solutions and mixtures.  Along with sports industry, such composites are widely used in a wide range of end-use industries including automotive, aerospace, construction, electrical, marine, etc.

Rising awareness about importance of sports coupled with increased demand for lightweight sports equipment is the key factor driving the global sport composites market. Beginning of 21^St century has seen increase in awareness about the importance of sports to live healthy and stress free life. This has led to increase in demand for different sports equipment. Sport goods made of composites offers high strength to weight ratio and help in enhancing the performance. It also lowers the threat of injury. Composites are also resistant to corrosion and also offers variety in design, stiffness and other customizable features. All these factors led to increased demand of sport composites.

Rising cost of raw materials and associated environmental regulations are to hinder the growth of global sport composites market. Recent past has seen a continuous rise in prices or raw material such as glass fibers and carbon fibers. Along with this, there is also a rise in prices of resins such as epoxy, polyurethane, polypropylene and other resins used in the manufacturing of sport composites.

Impact of COVID-19 on the Sport Composites Market

Outbreak of the COVID-19 severely affected the global economics. Sport industry is one of the major industries affected by COVID-19. Spread of COVID-19 led to decreased demand for the sport goods resulting into decreased demand for sport composites. It forced manufacturers to reduce the production. Also, restrictions on the movement and trade also disrupted the supply chains involved in the market. However, with decreasing cases of COVID-19 after mid-2021 and gradual removal of restrictions, sport events are being organized across the globe. It will result into further increase in demand for sport composites.

Key Insights

The report will cover the following key insights:

• Regulatory Scenario of Sport Composites Market


• Key developments in Sport Composites Market


• Impact of COVID-19 on Sport Composites Market

Analysis by Fiber Type

On the basis of fibers used in the manufacturing of composites, sport composites market is segmented into carbon fiber, glass fiber and others. Carbon fiber held the largest share of global sport composites market. Carbon fiber is low weight high tensile strength material, provides better durability, impact absorption and stiffness. These properties make it product of choice in manufacturing of sport composites. It is highly used in the manufacturing of sport goods such as bicycle frames, golf shafts, fishing rods, rackets, etc.

Analysis by Resin Type

Depending on the resins used in the manufacturing of composites, sport composites market is segmented into epoxy resin, polyamide resin, polyurethane resin, polypropylene resin, and others. Polyamide resin holds the significant share of global sport composites market. Composites with polyamide matrix offers better properties for manufacturing of wide range of sport goods. It offers excellent chemical resistance, high strength, high toughness and impact resistance, etc. These properties of polyamide resin along with its comparatively lower cost increased its demand for manufacturing of sport composites.

Analysis by Application

By application sport composites market is segmented into golf stick, bicycle, hockey stick, rackets, skis & snowboards and others. Bicycle segment hold the largest share of the global sport composites market. There is rise in recreational activities and competitive sports events in recent past.  It has led to increased demand for lightweight bicycles. Golf stick also holds considerable share of global sport composites market. It can be attributed to increased demand for light weight golf sticks with high tensile strength.  This trend is anticipated to continue in the foreseeable future.

Regional Analysis

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The global sport composites market has been categorized into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America and Europe holds the significant portion of the global sport composites market. Growth of sport composites market in the regions can be attributed to technological innovations leading to increased use of composites in different types of sports equipment.

Asia Pacific held the largest share of sport composites market in 2021. This can be attributed to increased sport and recreational events across the region. Increased demand for composites for manufacturing of golf sticks, bicycles and hockey sticks is a significant factor contributing to the increased demand of sport composites in the region. Asia Pacific is expected to be the fastest growing market for sport composites during the forecast period. 

Latin America, Middle East & Africa are projected to indicate considerable growth in sport composites market during the forecast period due to rising recreational and sport events in the region.

Key Players Covered

The report will include profiles of key players such as SGL Carbon SE, Amer Sports, Solvay, Rossignol, Saint Gobain, Newell Brands, Topkey Corporation, ALDILA, Inc., Ficher Sports, Fujikura Composites, True Temper, Callway Golf, Prokennex and others.

Segmentation

Key Industry Developments

• In September 2022, Solvay inaugurated its new production line at its U.S. Piedmont Facility, South Carolina. New production line will help company to double production capacity of a key raw material to make carbon fiber reinforced composite materials


• In April 2022, Saint-Gobain has announce an investment of USD 32 Million to increase its production capacity by 13% and to reduce carbon footprint of its CertainTeed insulation plant in California, United States.


• In September 2021, Solvay announced that it has completed installation of its new thermoplastics composites manufacturing facility at its Greenville, South Carolina site. The move is anticipated to significantly enhance the total production capacity of the company.