Global Sports Composite Market - 2024 - 2031

Report Overview

The Global Sports Composite Market size was worth US$ 4.40 billion in 2023 and is estimated to reach US$ 6.11 billion by 2031, growing at a CAGR of 4.19% during the forecast period (2024-2031).

Composites are fibers used to manufacture sporting equipment to improve its strength, reduce its weight and lower its cost. A composite material combines two or more materials that differ in composition on a macro scale and are combined to form a structurally stable component. Lightweight, quick processing, high degrees of design freedom and great strength are all advantages of fiber-reinforced sports composite materials in sports equipment.

Compared to traditional materials, composites can suit a wide range of design criteria while reducing weight and having a high strength-to-weight ratio. Carbon and glass composites have largely supplanted metals in sporting equipment. Humans power the majority of sporting equipment to move. Fiber-reinforced composites have an unrivaled advantage in this regard.

The mechanical qualities of golf rods comprised of carbon-fiber-reinforced materials have improved. They weigh between 30% and 50% less than metal rods. One of the key reasons for using composite materials as a raw material in the construction of sports equipment is their strong damping shock absorption ability.

Market Dynamics

The market research's primary driver is the increasing need for lightweight and high-performance sports equipment during the projected period. Furthermore, using composites in athletic and recreational applications improves performance by providing density and rigidity to sports products that other traditional metals cannot.

Rising demand for lightweight materials for sports equipment

Composites have always been used in sports products to improve athletic performance and lower the risk of injury due to their increased efficiency and lightweight. Furthermore, composites have a high strength-to-weight ratio compared to traditional materials such as titanium, alloy, high tensile strength steels and others, allowing for more efficient and diverse designs.

Carbon fiber and glass fiber are viewed as replacements for these traditional materials because they are lightweight, give a good mechanical performance and have a wide range of design options, strength, stiffness and other properties. Sports equipment producers are rapidly using carbon fiber. Carbon fiber is popular for bicycle frames, fishing rods, golf shafts, tennis rackets and other products because it offers compression and lateral stability while remaining lightweight, strong and durable.

Manufacturers also like glass fiber because it provides strength, flexibility, durability and stability, is lightweight and is resistant to heat, temperature and moisture. Composites are mostly employed in producing skis and snowboards and hockey sticks. Aside from the applications, they are also found in bicycles, rackets and other sports equipment.

Glass fiber composites, on the other hand, are not as strong as other materials or as rigid as carbon fiber. For example, the use of composites in tennis rackets decreases weight while increasing sweet spot size; in hockey sticks, they reduce weight while increasing energy transfer; and in fishing rods, they reduce weight while increasing sensitivity and accuracy.

Increasing demand for new composites for sports goods

Sports products must be created in various sizes and shapes depending on the sport. Composites' numerous qualities, such as high tensile modulus, low density and lightweight, making them suitable for applications of a wide range of sporting goods, including tennis rackets, golf shafts, skis, hockey sticks, fishing poles, snowboards and bicycle frames.

Composites are finding new applications in sports such as wheel-tire systems, exercise equipment, softballs, bats, baseballs, helmets, cycling shoes, boots, alpine & Nordic skiing clothes and protective clothing wear footwear and others. Composites provide great strength and durability and compression and lateral stability. The increased demand for composites from new sporting goods applications opens up new business prospects. Topkey Corporation (Taiwan), for example, has created safety products such as helmets and other products from composite materials utilizing the UDPP technique.

Difficulty in recycling

The usage of composites in different end-use industries reduces weight and improves performance. Difficulties in recycling composites are a significant concern for composite manufacturers. The vast majority of composites used are disposed of in landfills. The landfilling of mixed wastes, on the other hand, is not an environmentally friendly alternative.

Many European Union countries have banned the landfilling of composite trash. Companies worldwide are attempting to mitigate global warming and investigate composites' possibilities in lowering greenhouse gas emissions. However, issues in recycling glass fiber-reinforced composites are a stumbling hurdle in areas where recycling pressure is considerable.

Market Segment Analysis

By application, the sports composite market is segmented into bicycle, golf sticks, rackets, hockey sticks, skis & snowboards and others.

Rising demand for golf stick

Sports composites are made up of two or more chemically different materials that have been blended to improve their qualities. Golf shafts are made of a variety of materials, including composites. The use of carbon fiber reinforced materials reduced the weight of golf shafts to that of a metal rod. According to the National Golf Foundation, more than 35% of the population in U.S. over the age of 5 played, watched or read about golf in 2019.

Furthermore, 2.6 million people played golf for the first time in U.S. in 2018, the greatest amount. Additionally, the growing number of golf tournaments and the approaching 2020 Summer Olympic Games in Tokyo offer prospects for the game. As a result, there is an increasing interest in golf which further propels the market growth.

Market Geographical Analysis

Increased usage of technological innovations for sports composites in North America

North America is predicted to dominate the global sports composites market during the forecast period due to increased technical breakthroughs, which would result in greater use of composites for various sports equipment like lacrosse and polo sticks. The rising demand for artificial grass for sports such as basketball, golf and American football is expected to drive market expansion throughout the forecast period.

The sports sector has expanded rapidly in recent years, owing to greater competitiveness, media sponsorships and improved societal awareness, among other factors. According to the National Golf Foundation, golf has recently become one of the most popular recreational sports in the U.S. The Sports & Fitness Industry Association reports that government and private entities invest more in golf shafts.

Aside from golf, one of the most popular sports in the region is hockey. In recent years, hockey players have increased due to collegiate hockey programs. As a result, demand for sports equipment such as golf shafts, hockey sticks, rackets and bicycles, among others, is predicted to rise in recent years, rising demand for the market in the region.

Market Competitive Landscape

Constant product innovation, capacity expansion and mergers and acquisitions distinguish the market. To gain a bigger consumer base, the players are working on creating lightweight and durable composites. For example, the introduction of T20 track bikes in 2020 features lightweight composite materials.

Major global sports composite market companies include Aldila Inc., Amer Sports, Fischer Sports GmbH, Jarden Corporation, Rossignol, Rockwood Composites Limited, Bell Helmets Inc., Protech Composites, Entropy Resins Inc. and Oxeon AB.

COVID-19 Impact Analysis

Lockdowns, social distancing rules, and labor shortages all contributed to industrial closures and limited manufacturing capacity during the pandemic. It caused delays in the production of sports composite materials such as carbon fiber, glass fiber and aramid fiber, which are widely utilized in high-performance sports equipment. Disruptions in the worldwide raw material supply chain, particularly those originating from pandemic-affected regions, resulted in shortages and higher costs.

It had an impact on composite material production, resulting in longer lead times and potentially higher prices. The epidemic seriously impacted the worldwide transportation network, causing cargo delays and increased logistical costs. It influenced the timely delivery of sports composite materials to producers and end-users.

Russia-Ukraine War Impact

The ongoing war between Russia and Ukraine has significantly influenced the sports composites market. This phenomenon is evident in the disturbances to the supply chain, which in turn have led to an increase in material costs. The prolonged conflict has significantly impacted the production and transportation of crucial raw materials necessary for the fabrication of sports composites.

Usually, carbon fibers and resins are obtained from or pass through areas that have been affected by violence. The interruption has had a significant impact on the market, resulting in price increases and limited availability. As a result, producers are facing increased costs, which ultimately affect the end-users. In addition, the war has had an impact on market dynamics by changing where investments are made and where production is focused.

Amidst the complex dynamics of politics and trade, businesses are taking a closer look at their supply chains and exploring new options for sourcing materials. It has resulted in a transformation of global market strategies. Due to the increasing concern over geopolitical instability, there is a greater focus on diversifying supply chains and improving resilience in the sports composites industry.

By Fiber

Glass Fiber

Carbon Fiber

Others

By Resin

Polyamide

Polyurethane

Polypropylene

Others

By Application

Bicycle

Golf Stick

Rackets

Hockey Stick

Skis and Snowboards

Others

By Region

North America

U.S.

Canada

Mexico

Europe

Germany

UK

France

Italy

Spain

Rest of Europe

South America

Brazil

Argentina

Rest of South America

Asia-Pacific

China

India

Japan

Australia

Rest of Asia-Pacific

Middle East and Africa

Key Developments

In March 2023, SGL Carbon unveiled a new carbon fiber called 'SIGRAFIL C T50-4.9/235', which is known for its exceptional elongation and strength. The novel carbon fiber is suitable for market categories such as sports, construction and infrastructure that demand high strength and fiber elongation.

In February 2022, Celanese Corporation declared the purchase of DuPont's Mobility & Materials (M&M) business for a total of US$ 11.0 billion. This acquisition will enhance the company's product line and broaden its global presence.

Why Purchase the Report?

Visualize the composition of the sports composite market segmentation by fiber, resin, application and region, highlighting the critical commercial assets and players.

Identify commercial opportunities in the sports composite market by analyzing trends and co-development deals.

Excel data sheet with thousands of sports composite market-level 4/5 segmentation points.

Pdf report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.

Product mapping in excel for the key product of all major market players

The global sports composite market report would provide access to an approx. 61 market data tables, 56 figures and 205 pages.

Target Audience 2024

Sports Composite Service Providers/ Buyers

Industry Investors/Investment Bankers

Education & Research Institutes

Emerging Companies

Sports Composite Manufacturers