Sports Composites Market Estimated to Witness High Growth Owing to Technological Advancements
The sports composites market comprises fiber-reinforced plastic materials that are light in weight and offer high strength and durability. Sports composites find widespread applications in the manufacturing of golf shafts, tennis racquets, bicycles, hockey sticks, fishing rods, and other sports equipment. The materials provide enhanced strength-to-weight ratio and flexibility compared to conventional materials. The global demand for sports composites has increased owing to technological advancements focused on developing materials with high corrosion and impact resistance.
The global sports composites market is estimated to be valued at USD 4.73 Bn in 2024 and is expected to reach USD 6.62 Bn by 2031, growing at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031.
Key Takeaways
Key players operating in the sports composites market include Toray Industries Inc., SGL Carbon, Fischer Sports Gmbh, TOPKEY CORPORATION, DUPONT DE NEMOURS, INC, Hexion, Inc, Toray Industries, Inc, SGL CARBON SE, Callaway Golf Company, Rockwest Composites, Arvind Composites, REIN4CED, Protech Composites, Protension Composites, Arevo, Inc, Entropy Resins. Key players focus on developing hybrid materials and implementing advanced manufacturing technologies such as 3D printing to produce customized sports products.
The global Sports Composites Market Size provides significant growth opportunities owing to the rising popularity of new sports such as cricket, rugby, and skateboarding. Market players can invest in research & development activities to develop novel composite materials suitable for emerging sports equipment. Technological advancements in material science and polymer chemistry have enabled the production of super-lightweight, high-strength composites for sports applications.
Market Drivers
One of the key drivers for the sports composites market is the growing health awareness and increasing participation in sports and fitness activities globally. More people are engaging in sports and outdoor recreational activities, driving the demand for high-performance sports equipment. Additionally, the strong demand from emerging economies such as India, China, Brazil owing to the rising disposable incomes is also fueling the sales of premium sports goods made from advanced composite materials. The stringent regulations regarding carbon emissions have encouraged raw material suppliers and OEMs to introduce eco-friendly sports composites made from recycled plastics and plant-based polymers.
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