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The Sports Composites Market Size was valued at USD 4.58 billion in 2023 and is expected to reach USD 7.10 billion by 2032 and grow at a CAGR of 5.0% over the forecast period 2024-2032.
The factor raising the growth of the sports composites market is the sports industry's growing need for lightweight materials. Sports equipment manufacturers and athletes are always looking for ways to improve performance, and one of the best ways to do so is to lighten the equipment. Increased speed raising, agility, and endurance are possible with lightweight materials all important characteristics in competitive sports. Because composites like carbon fiber and glass fiber offer an extraordinary strength-to-weight ratio, they give the required strength and durability without adding weight they are especially sought after. These properties help to drive the market growth.
For instance, in 2022 Toray Industries partnered with top sports equipment manufacturers to create customized composite solutions. These days, fishing rods, baseball bats, and golf shafts are made from their cutting-edge carbon fiber materials.
Sports and fitness activities are becoming more and more popular as the world places more focus on health and fitness. The need for high-performance sports gear that can improve athletic performance and lower the risk of injury is being driven by this boom in involvement.
Governments in countries such as Germany, the USA, and Japan are investing in the research and development of advanced composite materials. For example, the U.S. Department of Energy has funded various sports project focused on developing lightweight materials for various industries, including sports.
Furthermore, the demand for advanced sports equipment has increased as a result of the growth of professional sports leagues and events around the world, which has greatly enhanced the visibility and popularity of different sports. Professional athletes need equipment that improves performance while lowering the risk of injury, which is pushing the need for novel composite materials with exceptional strength, durability, and lightweight qualities. The sports composites market is expanding as a result of this professional sports demand.
Market Dynamics:
Driver
The rising usage of agile and less-weight sports equipment drives the market growth.
The increasing usage of agile and lightweight sports equipment is a key driver of market growth in sports composites. The need for advanced sports equipment is increased by governments' growing investments in fitness programs and sports infrastructure. For example, significant funding has been provided by the European Union's Horizon 2020 program for the development of novel materials, such as composites, to improve sports performance and safety. Comparably, the National Institute of Standards and Technology in the US has funded advanced composites research to raise the caliber and functionality of athletic equipment. This trend is seen in recent releases from brands like Adidas and Carbon, who unveiled the future craft 4D running shoe with a 3D printed lattice construction for lightweight support. Additionally, Hexcel Corporation's launch in 2021 of lightweight, impact-resistant composite materials for hockey sticks and skis is another example of how the industry is responding to this increasing demand. The need for gear that enables athletes to compete at their highest level has fuelled these developments, highlighting the important role that lightweight, nimble sports equipment plays in the expansion of the market.
Restrain
Production costs are high as compared to traditional products hampering the market growth.
The costly raw materials and complex manufacturing processes are required to produce composites like carbon and glass fiber, which results in increased production expenses. Moreover, the requirement for specialized equipment and trained workers drives up costs even more. Some customers and smaller manufacturers find it difficult to justify switching from traditional materials like metal and wood to advanced composites because of this pricing difference. As a result, increased production costs may prevent widespread adoption, particularly in markets where price fluctuations are significant. The sports composites market may grow more slowly as a result of this economic barrier, even if these materials have obvious performance advantages.
By Resin Type
The epoxy resin segment dominated the sports composites market with the highest revenue share of more than 38.23% in 2023. Because of its exceptional mechanical strength, great adhesive qualities, and resistance to environmental deterioration, epoxy resins are widely used. Moreover, due to its characteristics, epoxy resins are especially well-suited for high-performance sporting goods like skis, tennis rackets, and bicycles. The ultimate composite material is made to be both lightweight and durable thanks to epoxy resin's capacity to create strong bonds with reinforcing fibers like carbon and glass fibers. Furthermore, epoxy resins ‘adaptability to numerous uses makes them more appealing to a wider range of sports business sectors.
By Fiber Type
The carbon fiber held the largest revenue share of around 42.22% in 2023. It is driven by its remarkable strength-to-weight ratio, stiffness, and longevity, carbon fiber is highly valued and is used in high-performance sports equipment. Athletes' speed and agility are improved by its lightweight design, and its high strength offers the required durability to resist heavy use. The supremacy of carbon fiber is further attributed to its resistance to fatigue and environmental variables, as well as its ability to be molded into complicated shapes. This fiber is extensively utilized in many sporting goods, such as hockey sticks, golf clubs, bicycles, and tennis rackets.
By Application
The bicycle segment held the largest, market share in the application segment of the sports composites market around 39.56% share of the market revenue in 2023. Health and fitness are becoming more and more important in the world, and cycling is acknowledged as a fun and efficient kind of exercise. Bicycles have been more in demand as a result, especially high-performance ones that make use of cutting-edge materials. In this market, carbon fiber composites are highly prized for their remarkable strength-to-weight ratio, which improves cycling performance by lowering the bike's total weight while maintaining the required rigidity and durability. Furthermore, manufacturers are now able to create bicycles with better aerodynamics, vibration dampening, and overall ride quality, making them even more desirable to leisure and competitive riders thanks to technological developments in composite materials.
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IIn 2023, Asia Pacific held the largest market share of about 43.22% of the total sports composites market. Because of the region's rapid economic expansion, more people can now afford to buy high-performance sporting goods owing to increased disposable income. Sports and fitness activities are booming in nations like China and India thanks to government initiatives and growing public awareness of health and wellness. Sports composites market has also been boosted by Asia-Pacific's substantial investments in sports infrastructure, which include the building of adavanced facilities and the hosting of important athletic events. To take advantage of the burgeoning customer base, major sports brands are also growing their businesses in the area. Asia-Pacific is a dominant force in the sports composites market due to a mix of factors including economic growth, rising sports engagement, and strategic investments. This is indicative of the region's critical position in setting global industry trends.
Rossignol, Ficher Sports, Amer Sports, Fujikura Composites, True Temper, Newell Brands, Topkey Corporation, Callway Golf, ALDILA, Inc., Prokennex, and Other Players.
Recent Development:
In 2023, Shimano made a strategic investment in composite technology, focusing on developing new carbon fiber components for bicycles. This investment is part of their broader strategy to innovate and stay competitive in the high-performance sports equipment market.
In 2023, BMC expanded its product line with the launch of the Teammachine SLR01, which utilizes an innovative carbon fiber layup for improved performance and ride quality. This launch reflects the ongoing trend of incorporating advanced composites into premium bicycles.
In 2023 Giant Manufacturing Co. Ltd, Giant announced a significant expansion of its carbon fiber production facilities in Taiwan. This investment aims to meet the increasing demand for high-performance bicycles and enhance their capability to produce advanced composite material.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 4.58 Billion |
| Market Size by 2032 | US$ 7.10 Billion |
| CAGR | CAGR of 5.0% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Resin Type (Polyurethane, Epoxy, Polyamide, Polypropylene, Others) • By Fiber Type (Carbon fiber, Glass fiber, Boron fiber, Others) • By Application (Golf sticks, Hockey sticks, Racquets, Bicycles, Skies and Snowboards, Windsurfing masts and boards, Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Rossignol, Ficher Sports, Amer Sports, Fujikura Composites, True Temper, Newell Brands, Topkey Corporation, Callway Golf, ALDILA, Inc., Prokennex, and Other Players. |
| DRIVERS | • The rising usage of agile and less-weight sports equipment drives the market growth. |
| Restraints | •Production costs are high as compared to traditional products hampering the market growth. |
Ans: Primary or secondary type of research done by this reports.
Ans: New uses for composites in sports goods have led to a rise in demand for them are the opportunity for Sports Composites Market.
Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.
Ans: Because of the COVID-19 pandemic, there has been a global lockdown and almost a standstill in business and the economy. Several industries have been hurt badly, and their supply chains have been messed up. Low demand has had a big effect on the market, which has caused manufacturers to cut back on production. The bans on trade and travel around the world have also slowed down the supply chain.
Ans: Sports Composites Market Size was valued at USD 4.58 billion in 2023 and is expected to reach USD 7.10 billion by 2032, and grow at a CAGR of 5.0% over the forecast period 2024-2032.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Porter’s 5 Forces Model
6. Pest Analysis
7. Sports Composites Market Segmentation, By Resin Type
7.1 Introduction
7.2 Polyurethane
7.3 Epoxy
7.4 Polyamide
7.5 Polypropylene
7.6 Others
8. Sports Composites Market Segmentation, By Fiber Type
8.1 Introduction
8.2 Carbon fiber
8.3 Glass fiber
8.4 Boron fiber
8.5 Others
9. Sports Composites Market Segmentation, By Application
9.1 Introduction
9.2 Golf sticks
9.3 Hockey sticks
9.4 Racquets
9.5 Bicycles
9.6 Skies and Snowboards
9.7 Windsurfing masts and boards
9.8 Others
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 Trend Analysis
10.2.2 North America Sports Composites Market by Country
10.2.3 North America Sports Composites Market By Resin Type
10.2.4 North America Sports Composites Market By Fiber Type
10.2.5 North America Sports Composites Market By Application
10.2.6 USA
10.2.6.1 USA Sports Composites Market By Resin Type
10.2.6.2 USA Sports Composites Market By Fiber Type
10.2.6.3 USA Sports Composites Market By Application
10.2.7 Canada
10.2.7.1 Canada Sports Composites Market By Resin Type
10.2.7.2 Canada Sports Composites Market By Fiber Type
10.2.7.3 Canada Sports Composites Market By Application
10.2.8 Mexico
10.2.8.1 Mexico Sports Composites Market By Resin Type
10.2.8.2 Mexico Sports Composites Market By Fiber Type
10.2.8.3 Mexico Sports Composites Market By Application
10.3 Europe
10.3.1 Trend Analysis
10.3.2 Eastern Europe
10.3.2.1 Eastern Europe Sports Composites Market by Country
10.3.2.2 Eastern Europe Sports Composites Market By Resin Type
10.3.2.3 Eastern Europe Sports Composites Market By Fiber Type
10.3.2.4 Eastern Europe Sports Composites Market By Application
10.3.2.5 Poland
10.3.2.5.1 Poland Sports Composites Market By Resin Type
10.3.2.5.2 Poland Sports Composites Market By Fiber Type
10.3.2.5.3 Poland Sports Composites Market By Application
10.3.2.6 Romania
10.3.2.6.1 Romania Sports Composites Market By Resin Type
10.3.2.6.2 Romania Sports Composites Market By Fiber Type
10.3.2.6.4 Romania Sports Composites Market By Application
10.3.2.7 Hungary
10.3.2.7.1 Hungary Sports Composites Market By Resin Type
10.3.2.7.2 Hungary Sports Composites Market By Fiber Type
10.3.2.7.3 Hungary Sports Composites Market By Application
10.3.2.8 Turkey
10.3.2.8.1 Turkey Sports Composites Market By Resin Type
10.3.2.8.2 Turkey Sports Composites Market By Fiber Type
10.3.2.8.3 Turkey Sports Composites Market By Application
10.3.2.9 Rest of Eastern Europe
10.3.2.9.1 Rest of Eastern Europe Sports Composites Market By Resin Type
10.3.2.9.2 Rest of Eastern Europe Sports Composites Market By Fiber Type
10.3.2.9.3 Rest of Eastern Europe Sports Composites Market By Application
10.3.3 Western Europe
10.3.3.1 Western Europe Sports Composites Market by Country
10.3.3.2 Western Europe Sports Composites Market By Resin Type
10.3.3.3 Western Europe Sports Composites Market By Fiber Type
10.3.3.4 Western Europe Sports Composites Market By Application
10.3.3.5 Germany
10.3.3.5.1 Germany Sports Composites Market By Resin Type
10.3.3.5.2 Germany Sports Composites Market By Fiber Type
10.3.3.5.3 Germany Sports Composites Market By Application
10.3.3.6 France
10.3.3.6.1 France Sports Composites Market By Resin Type
10.3.3.6.2 France Sports Composites Market By Fiber Type
10.3.3.6.3 France Sports Composites Market By Application
10.3.3.7 UK
10.3.3.7.1 UK Sports Composites Market By Resin Type
10.3.3.7.2 UK Sports Composites Market By Fiber Type
10.3.3.7.3 UK Sports Composites Market By Application
10.3.3.8 Italy
10.3.3.8.1 Italy Sports Composites Market By Resin Type
10.3.3.8.2 Italy Sports Composites Market By Fiber Type
10.3.3.8.3 Italy Sports Composites Market By Application
10.3.3.9 Spain
10.3.3.9.1 Spain Sports Composites Market By Resin Type
10.3.3.9.2 Spain Sports Composites Market By Fiber Type
10.3.3.9.3 Spain Sports Composites Market By Application
10.3.3.10 Netherlands
10.3.3.10.1 Netherlands Sports Composites Market By Resin Type
10.3.3.10.2 Netherlands Sports Composites Market By Fiber Type
10.3.3.10.3 Netherlands Sports Composites Market By Application
10.3.3.11 Switzerland
10.3.3.11.1 Switzerland Sports Composites Market By Resin Type
10.3.3.11.2 Switzerland Sports Composites Market By Fiber Type
10.3.3.11.3 Switzerland Sports Composites Market By Application
10.3.3.12 Austria
10.3.3.12.1 Austria Sports Composites Market By Resin Type
10.3.3.12.2 Austria Sports Composites Market By Fiber Type
10.3.3.12.3 Austria Sports Composites Market By Application
10.3.3.13 Rest of Western Europe
10.3.3.13.1 Rest of Western Europe Sports Composites Market By Resin Type
10.3.3.13.2 Rest of Western Europe Sports Composites Market By Fiber Type
10.3.3.13.3 Rest of Western Europe Sports Composites Market By Application
10.4 Asia-Pacific
10.4.1 Trend Analysis
10.4.2 Asia-Pacific Sports Composites Market by Country
10.4.3 Asia-Pacific Sports Composites Market By Resin Type
10.4.4 Asia-Pacific Sports Composites Market By Fiber Type
10.4.5 Asia-Pacific Sports Composites Market By Application
10.4.6 China
10.4.6.1 China Sports Composites Market By Resin Type
10.4.6.2 China Sports Composites Market By Fiber Type
10.4.6.3 China Sports Composites Market By Application
10.4.7 India
10.4.7.1 India Sports Composites Market By Resin Type
10.4.7.2 India Sports Composites Market By Fiber Type
10.4.7.3 India Sports Composites Market By Application
10.4.8 Japan
10.4.8.1 Japan Sports Composites Market By Resin Type
10.4.8.2 Japan Sports Composites Market By Fiber Type
10.4.8.3 Japan Sports Composites Market By Application
10.4.9 South Korea
10.4.9.1 South Korea Sports Composites Market By Resin Type
10.4.9.2 South Korea Sports Composites Market By Fiber Type
10.4.9.3 South Korea Sports Composites Market By Application
10.4.10 Vietnam
10.4.10.1 Vietnam Sports Composites Market By Resin Type
10.4.10.2 Vietnam Sports Composites Market By Fiber Type
10.4.10.3 Vietnam Sports Composites Market By Application
10.4.11 Singapore
10.4.11.1 Singapore Sports Composites Market By Resin Type
10.4.11.2 Singapore Sports Composites Market By Fiber Type
10.4.11.3 Singapore Sports Composites Market By Application
10.4.12 Australia
10.4.12.1 Australia Sports Composites Market By Resin Type
10.4.12.2 Australia Sports Composites Market By Fiber Type
10.4.12.3 Australia Sports Composites Market By Application
10.4.13 Rest of Asia-Pacific
10.4.13.1 Rest of Asia-Pacific Sports Composites Market By Resin Type
10.4.13.2 Rest of Asia-Pacific Sports Composites Market By Fiber Type
10.4.13.3 Rest of Asia-Pacific Sports Composites Market By Application
10.5 Middle East & Africa
10.5.1 Trend Analysis
10.5.2 Middle East
10.5.2.1 Middle East Sports Composites Market by Country
10.5.2.2 Middle East Sports Composites Market By Resin Type
10.5.2.3 Middle East Sports Composites Market By Fiber Type
10.5.2.4 Middle East Sports Composites Market By Application
10.5.2.5 UAE
10.5.2.5.1 UAE Sports Composites Market By Resin Type
10.5.2.5.2 UAE Sports Composites Market By Fiber Type
10.5.2.5.3 UAE Sports Composites Market By Application
10.5.2.6 Egypt
10.5.2.6.1 Egypt Sports Composites Market By Resin Type
10.5.2.6.2 Egypt Sports Composites Market By Fiber Type
10.5.2.6.3 Egypt Sports Composites Market By Application
10.5.2.7 Saudi Arabia
10.5.2.7.1 Saudi Arabia Sports Composites Market By Resin Type
10.5.2.7.2 Saudi Arabia Sports Composites Market By Fiber Type
10.5.2.7.3 Saudi Arabia Sports Composites Market By Application
10.5.2.8 Qatar
10.5.2.8.1 Qatar Sports Composites Market By Resin Type
10.5.2.8.2 Qatar Sports Composites Market By Fiber Type
10.5.2.8.3 Qatar Sports Composites Market By Application
10.5.2.9 Rest of Middle East
10.5.2.9.1 Rest of Middle East Sports Composites Market By Resin Type
10.5.2.9.2 Rest of Middle East Sports Composites Market By Fiber Type
10.5.2.9.3 Rest of Middle East Sports Composites Market By Application
10.5.3 Africa
10.5.3.1 Africa Sports Composites Market by Country
10.5.3.2 Africa Sports Composites Market By Resin Type
10.5.3.3 Africa Sports Composites Market By Fiber Type
10.5.3.4 Africa Sports Composites Market By Application
10.5.3.5 Nigeria
10.5.3.5.1 Nigeria Sports Composites Market By Resin Type
10.5.3.5.2 Nigeria Sports Composites Market By Fiber Type
10.5.3.5.3 Nigeria Sports Composites Market By Application
10.5.3.6 South Africa
10.5.3.6.1 South Africa Sports Composites Market By Resin Type
10.5.3.6.2 South Africa Sports Composites Market By Fiber Type
10.5.3.6.3 South Africa Sports Composites Market By Application
10.5.3.7 Rest of Africa
10.5.3.7.1 Rest of Africa Sports Composites Market By Resin Type
10.5.3.7.2 Rest of Africa Sports Composites Market By Fiber Type
10.5.3.7.3 Rest of Africa Sports Composites Market By Application
10.6 Latin America
10.6.1 Trend Analysis
10.6.2 Latin America Sports Composites Market by country
10.6.3 Latin America Sports Composites Market By Resin Type
10.6.4 Latin America Sports Composites Market By Fiber Type
10.6.5 Latin America Sports Composites Market By Application
10.6.6 Brazil
10.6.6.1 Brazil Sports Composites Market By Resin Type
10.6.6.2 Brazil Sports Composites Market By Fiber Type
10.6.6.3 Brazil Sports Composites Market By Application
10.6.7 Argentina
10.6.7.1 Argentina Sports Composites Market By Resin Type
10.6.7.2 Argentina Sports Composites Market By Fiber Type
10.6.7.3 Argentina Sports Composites Market By Application
10.6.8 Colombia
10.6.8.1 Colombia Sports Composites Market By Resin Type
10.6.8.2 Colombia Sports Composites Market By Fiber Type
10.6.8.3 Colombia Sports Composites Market By Application
10.6.9 Rest of Latin America
10.6.9.1 Rest of Latin America Sports Composites Market By Resin Type
10.6.9.2 Rest of Latin America Sports Composites Market By Fiber Type
10.6.9.3 Rest of Latin America Sports Composites Market By Application
11. Company Profiles
11.1 Rossignol
11.1.1 Company Overview
11.1.2 Financial
11.1.3 Products/ Services Offered
11.1.4 The SNS View
11.2 Ficher Sports
11.2.1 Company Overview
11.2.2 Financial
11.2.3 Products/ Services Offered
11.2.4 The SNS View
11.3 Amer Sports
11.3.1 Company Overview
11.3.2 Financial
11.3.3 Products/ Services Offered
11.3.4 The SNS View
11.4 Fujikura Composites
11.4.1 Company Overview
11.4.2 Financial
11.4.3 Products/ Services Offered
11.4.4 The SNS View
11.5 True Temper
11.5.1 Company Overview
11.5.2 Financial
11.5.3 Products/ Services Offered
11.5.4 The SNS View
11.6 Newell Brands
11.6.1 Company Overview
11.6.2 Financial
11.6.3 Products/ Services Offered
11.6.4 The SNS View
11.7 Topkey Corporation
11.7.1 Company Overview
11.7.2 Financial
11.7.3 Products/ Services Offered
11.7.4 The SNS View
11.8 Callway Golf
11.8.1 Company Overview
11.8.2 Financial
11.8.3 Products/ Services Offered
11.8.4 The SNS View
11.9 ALDILA, Inc.
11.9.1 Company Overview
11.9.2 Financial
11.9.3 Products/ Services Offered
11.9.4 The SNS View
11.10 Prokennex
11.10.1 Company Overview
11.10.2 Financial
11.10.3 Products/ Services Offered
11.10.4 The SNS View
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments
12.4 Industry News
12.5 Company News
12.6 Mergers & Acquisitions
13. Use Case and Best Practices
14. Conclusion
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Key Segments:
By Resin Type
Polyurethane
Epoxy
Polyamide
Polypropylene
Others
By Fiber Type
Glass fiber
Boron fiber
Others
By Application
Golf sticks
Hockey sticks
Racquets
Bicycles
Skies and Snowboards
Windsurfing masts and boards
Others
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Regional Coverage:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
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Product Analysis
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Geographic Analysis
Additional countries in any of the regions
Company Information
Detailed analysis and profiling of additional market players (Up to five)
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