PUBLISHER: The Business Research Company | PRODUCT CODE: 1249017
PUBLISHER: The Business Research Company | PRODUCT CODE: 1249017
“Sports Composites Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on sports composites market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for sports composites? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The sports composites market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Companies Mentioned: Ficher Sports; Topkey Corporation; Toray Industries; Teijin Ltd.; Hexion Inc.,
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Major players in the sports composites market are: Ficher Sports, Topkey Corporation, Toray Industries, Teijin Ltd., Hexion Inc., SGL Carbon SE, Fujikura Composites, Callway Golf, True Temper, Prokennex, Newell Brands, Sree Industrial Composite Products, EPP Composites, and Bucci Composites.
The global sports composites market grew from $3.27 billion in 2022 to $3.52 billion in 2023 at a compound annual growth rate (CAGR) of 7.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The sports composites market is expected to grow to $4.51 billion in 2027 at a CAGR of 6.4%.
The sports composites market consists of sales of polymer matrix composites (PMCs), metal matrix composites (MMCs), ceramic matrix composites (CMCs), and carbon matrix composites (CAMCs). Values in this market are: 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Sports composites are fibers that are used to improve the strength of sports equipment, decrease its weight, and reduce its cost. Composites reduce the weight of the helmet that protects motorcyclists. They are used to upgrade sports equipment and protect athletes from injury.
North America was the largest region in the sports composites market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sports composites market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of fibers in sports composites are carbon, glass, and others. Carbon sports composites are widely used in the production of sports equipment such as sports sticks and rackets, owing to their advanced qualities such as being a lightweight, high strength-to-weight ratio, increased resistance, and stiffness. This is also called graphite fiber. The various resin types include epoxy, polyamide, polyurethane, and polypropylene, which are used in numerous applications such as golf sticks, rackets, bicycles, hockey sticks, skis and snowboards.
The rising sports industry is expected to propel the growth of the sports composites market going forward. The sports industry refers to an industry in which people, activities, and organizations are involved in producing, facilitating, promoting, or organizing any activities that are focused on sports. Sports composites are used to make lightweight sports equipment. For instance, in 2021, according to GroupM ESP, an India-based media investment management company, in 2021, the Indian sports business invested $1.22 billion, representing a 62% increase over the previous year. In addition, media spending on cricket climbed by 8.1% in 2021 to $728.6 million, up from $673.8 million in 2019. Therefore, the rising sports industry is driving the growth of the sports composites market.
Technological advancements have emerged as a key trend gaining popularity in the sports composite market. Major companies operating in the sports composites sector are focused on introducing new technological products to sustain their position. For instance, in 2020, Aldila, a US-based company that manufactures sports equipment, launched ALDILA ASCENT, an ultra-light golf shaft series. This model delivers an easy, high launch angle and also helps in controlling spin and face deflection for a higher ball flight with long descent roll out. It also has FlyDrive Technology, which is a full-length Visco-Elastic Isolation Layer (VEIL) that boosts the shaft's resistance to ovaling while improving overall strength and feel.
In April 2022, Kordsa, a Turkey-based company providing reinforcement technologies for automobiles, airplanes, motorcycles, and agricultural and industrial tires, acquired the majority of the share of Microtex Composites for a deal amount of € 24.6 million euros ($25.2 million). With this acquisition, Kordsa aims to diversify its product offering and expand its client base, and its service offering in the automotive and motorsport industries. Microtex Composites is an Italy-based company that specializes in the production of a composite including carbon fiber for automotive, motorsport, marine, and transport.
The countries covered in the sports composites market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The sports composites market research report is one of a series of new reports from The Business Research Company that provides sports composites market statistics, including global market size, regional shares, competitors with a sports composites market share, detailed sports composites market segments, market trends and opportunities, and any further data you may need to thrive in the sports composites industry. This sports composites market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.