Sports Composites Market
Sports Composites Market By Resin (Epoxy, Polyamide, Polyurethane, Polypropylene), By Fiber (Carbon Fiber, Glass Fiber), By Application (Golf Sticks, Rackets, Bicycle Frames, Hockey Sticks, Skis, Snowboards, & Kayaks) & Region – Global Market Insights 2023 to 2033
Analysis of Sports Composites Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Sports Composites Market Outlook (2023 to 2033)
The global sports composites market has reached a valuation of US$ 2.34 billion in 2023 and is forecasted to climb to US$ 3.78 billion by 2033-end. Global demand for sports composites is predicted to increase at a CAGR of 4.9% from 2023 to 2033.
Thermoplastic composites with a polyamide resin matrix provide the perfect blend of qualities for a variety of applications in the sports industry.
Composites are fibers that are used in the manufacturing of sports products to improve their strength, decrease their weight, and reduce their cost. A composite material is defined as a mixture of two or more materials differing in composition on a macroscale that is combined to form a structurally stable component.
Composites can meet varied design requirements with weight reduction as well as a high strength-to-weight ratio as compared to traditional materials. Composites such as carbon, epoxy, and glass have replaced metals used in sports equipment.
Most sports equipment rely on humans to make the movements. In this aspect, fiber-reinforced composites have an incomparable advantage. Golf rods made of carbon-fiber-reinforced materials have improved mechanical properties.
- Polyamides account for 40% share of the global market in 2023.
- Carbon fiber accounts for 38% share of the global market revenue at present.
Composite materials have good damping and shock absorption capacities, which is one of the primary reasons for their use as raw materials in the manufacture of sports equipment. Fiber-reinforced sports composite materials facilitate lightweight, easy processing, high degrees of freedom of design, and high strength in sports equipment.
The market is anticipated to increase as a result of the rising demand for resilient components used to make hoverboards, skis, and tennis rackets. The increasing adoption of novel energy composites in sports equipment will probably open up new market expansion potential.
Increasing use of carbon fiber sports composites in the form of textiles in various sports applications is driving market growth. An increase in patents filed for composite-based sports goods by global players, growing manufacturing industries, and continuous new product launches are key factors boosting market expansion.
Rising physical activity for health reasons is one of the major drivers of composite demand for sports goods. The increasing reliance on continuous processing to manufacture glass-reinforced plastics (GRP) is likely to boost the production of various sports equipment, creating new revenue streams for vendors.
Sports Composites Market Size (2023)
US$ 2.34 Billion
Projected Market Value (2033)
US$ 3.78 Billion
Global Market Growth Rate (2023 to 2033)
Market Share of Polyamides (2023)
United Kingdom Market Size (2023)
US$ 272 Million
Market Share of Carbon Fiber (2023)
Japan Market Size (2033)
US$ 306.5 Million
South Korea Market Growth Rate (2023 to 2033)
Key Companies Profiled
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Competitive landscape highlights only certain players
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What is Driving the Market for Sports Composites Forward?
“Rising Popularity of Golf across the World”
Over the past few years, golf has emerged as a new sport of interest among people across the world. A rise in people playing golf as a recreational sport has fairly increased across the globe. A growing interest in golf among people is boosting the demand for golf shafts, which is further propelling the demand for sports composites. Increasing usage of composites in the production of golf shafts and club heads is driving market growth.
Golfers may now purchase various interchangeable shafts for a single club thanks to a change in the United States Golf Association (USGA) rules, making it easy to switch to a shaft design that gives the desired attribute. Hence, the use of sports composites in golf sticks is expected to rise over the coming years.
“Surging Need for Lightweight Materials for Sports Product Manufacturing”
The primary reasons for using composites in sports equipment have always been their increased efficiency and reduced weight, which improves athletic performance and reduces the risk of injury. Additionally, when compared to other conventional materials, composites have a high strength-to-weight ratio, enabling manufacturers to produce a wider range of more effective designs.
Carbon fiber and glass fiber are considered alternatives to these traditional materials due to their lightweight, excellent mechanical performance, diversity in designs, strength, stiffness, and other characteristics. Carbon fiber is being used more by makers of sports products.
“Advanced Techniques for Recycling Composite Materials”
One of the most recent developments to emerge in the sports composites industry over the coming years will be the development of novel methods for recycling composite materials. Composite materials are in demand due to the introduction of strict laws for the disposal of waste in landfills. Currently, the most efficient processes are mechanical recycling for carbon fiber-reinforced composites and thermal and chemical procedures for glass fiber-reinforced composites.
Which Facets are Likely to Inhibit Demand for Sports Composites?
“Rising Raw Material Costs and Strict Laws Governing Use of Composites”
Lack of awareness of the advantages of composites among end users is restraining market demand. Strict laws governing the use of composites in sports equipment are hampering market expansion. End users' inability to employ composites in all sports equipment, poses a significant barrier to market growth.
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How Can Start-ups Generate Business Opportunities in This Industry?
“New Market Entrants Focusing on Developments in Material Sciences and 3D Printing to Produce Carbon Fiber Composites”
Numerous sectors, ranging from high-tech aircraft to sports equipment, use carbon fiber. Carbon fiber is a perfect material for manufacturers due to its high strength-to-weight ratio and adaptability of components. Emerging market players are focusing on developments in material sciences and 3D printing to produce carbon fiber composites in large quantities at a reasonable cost.
- A Swiss engineering start-up called 9T Labs creates advanced 3D printing solutions. Products combine detailed simulation and design software to produce superior carbon fiber composites. Additionally, it provides the 3D printing equipment required to produce the planned composites. By using 9T Lab's technology, manufacturers may shorten the time it takes for their carbon fiber composite goods to reach the market.
What is Influencing the Sales of Sports Composites in the United States?
“Increase in Investments by Government Organizations in Golf Shafts”
- The United States sports composites market is estimated to reach US$ 1.28 billion by 2033.
The market in the United States is driven by technological advancements in sports composites.
- According to the National Golf Foundation, golf has recently become one of the most popular sports in the country.
- Government organizations are investing more in golf shafts in the country, according to the Sports & Fitness Industry Association.
Will the United Kingdom Be an Opportune Market for Providers of Sports Composites?
“Increase in Leisure and Sports Activities in the Country”
- In the United Kingdom, sales of sports composites are projected to rise at a CAGR of 4.2% from 2023 to 2033.
The market is expanding due to the presence of top sports composite manufacturers and the easy availability of products. Hockey is one of the most popular sports in the country. Hockey players have recently increased as a result of an increase in university hockey programs. An increase in leisure and sports activities and a rise in the production of sports equipment are the elements supporting market expansion.
Why is South Korea Seeing High Sports Composite Consumption?
“Existence of Well-known Sports Product Manufacturing Companies”
- The market in South Korea is valued at US$ 185.3 million in 2023.
Growing popularity of sports and the existence of well-known sports product manufacturing companies are the factors anticipated to push market expansion over the coming years. A high acceptance rate for sports composites due to a rise in professional athletes and teams is driving market value in the country.
How is Japan Contributing to Revenue Generation in Asia Pacific?
“Japan Enjoys Easy Access to Raw Materials”
- The market in Japan is forecasted to rise at a CAGR of 3.9% over the projection period.
Market growth is attributed to large-scale bicycle production in Japan. The market is benefiting from the expansion of the manufacturing industry due to the availability of low-cost labor and easy access to raw materials in the country.
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Which Resin Will Witness a Bright Sales Outlook Over the Decade?
“Polyamide Resin Widely Used as Reinforcement Material in Blades of Hockey Sticks”
By resin, the market is segmented into polypropylene, polyamide, polyurethane, and epoxy.
- Demand for polyamide resin sports composites is expected to rise at a CAGR of 4.7% over the forecast period.
Sales of polyamide resin sports composites are increasing due to the high demand for ice hockey sticks. Demand for polyamide resin sports composites is gaining traction owing to their properties, including being lightweight, robust, and corrosion-resistant.
Hockey stick blades are reinforced with polyamide resin, which keeps the stick's weight to a minimum while protecting the blade from damage from high-impact collisions. As a result, demand for polyamide resin sports composites will increase over the coming years.
Why is Demand for Carbon Fiber High in the Sports Industry?
“Sports Goods Being Made from Carbon Fiber Composites Because of Their High Tensile Strength”
Based on fiber, the market is segmented into carbon fiber and glass fiber.
- Carbon fiber holds for 38% share of the global market.
One of the most advanced reinforcement materials is carbon fiber, which offers higher tensile strength than conventional reinforcing fibers. Price reductions from major companies' increased capacity expansions for producing carbon fiber composites and technological advancements are anticipated to increase the penetration of carbon fiber composites in a variety of sports goods applications.
Sports products are made from carbon fiber composites because of their durability. The increasing use of carbon fiber in golf clubs, bicycle frames, and rackets is boosting market growth. Easy raw material availability coupled with advanced manufacturing techniques used in the production of carbon fiber composites is expected to drive demand growth over the coming years.
Technological innovations have been a crucial trend that is becoming more popular in the sports composites industry. To maintain their position, top producers are concentrating on releasing innovative products while following safety regulations. Leading companies are focusing on quality control, product standards, and supply chain management to increase their revenue.
- In 2021, high tensile modulus carbon fiber and thermoplastic pellets were developed by Toray Industries, Inc., and are perfect for injection molding using that fiber.
- In 2022, the acquisition of DuPont's Mobility & Materials (M&M) division for US$ 11 billion was announced by Celanese Corporation. This acquisition will broaden the company's product line and increase its global presence.
Key Segments of Sports Composites Industry Research
By Resin :
By Fiber :
- Carbon Fiber
- Glass Fiber
By Application :
- Golf Sticks
- Bicycle Frames
- Hockey Sticks
- Skis, Snowboards, and Kayaks
By Region :
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- FAQs -
The global sports composites market was valued at US$ 2.23 billion in 2022.
Worldwide demand for sports composites is expected to reach US$ 3.78 billion by 2033.
Sales of sports composites are predicted to rise at a CAGR of 4.9% through 2033.
The market in Japan is set to rise at a CAGR of 3.9% through 2033.
Aldila, DuPont, and SGL are the top suppliers of sports composites.