Sports Composites Market to Witness Mounting Growth in Approaching Time
Stratview Research published a new report on the Sports Composites Market that offers detailed segmentation of the market by Resin Type (Epoxy Composites, Polyamide Composites, Polyurethane Composites, Polypropylene Composites, and Others), by Fiber Type (Carbon Fiber Composites, Glass Fiber Composites, and Others), by Application Type (Golf Stick, Rackets, Bicycle, Hockey Stick, Skis & Snowboards, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
According to the report, Sports composites market is likely to grow from USD 4.3 billion in 2021 to USD 6.01 billion by 2028 at a CAGR of 4.86% during the forecast period of 2022-2028. The growing number of patents sought for composites-based sporting goods by global companies, growing manufacturing sectors, and incessant new product unveilings, contracts, and development activities adopted by companies are the major drivers bolstering the growth of the global sports composites market.
The present report can be of high utility for the key decision-makers and growth strategists in terms of precise market insights, forthcoming growth opportunities, and key success factors. Especially, the report also analyses and mentions the possible impact of COVID-19 on the market dynamics. This will not only help in mitigating the uncertain business environment, but also help in rearranging the strategies and future- decisions in a fruitful manner.
Leading players in the market -
To build a successful business, it is vital to understanding the market - both the customers and the competitors. The report published consists of a list of key players active in the Sports Composites Market, is given below -
· Aldila Inc.
· Amer Sports
· E. I. Du Pont De Nemours and Company
· Fischer Sports GmbH
· Hexion Inc.
· Jarden Corporation
· Topkey Corporation
· Toray Industries Inc.
Report Findings
Based on the fiber type, the market is segmented as carbon fiber, glass fiber, and others. The carbon fiber segment is anticipated to be the fastest-growing segment during the forecast period, owing to its properties, such as sturdiness, tensile strength, impact absorption, and lightweight.
Based on the application type, the market is segmented as golf stick, rackets, bicycle, hockey stick, skis & snowboards, and others. The golf stick application segment is expected to be the fastest-growing segment during the forecast period. The growth is attributed to the application of composites in the designing of golf shaft which minimizes the shaft mass, thus letting the club designer to enhance the head mass, while still preserving a low overall club mass. The provision of a heavier club head, while preserving a minimal overall club mass supports the golfer to swing the club quicker, ensuing in augmented carry distance.
In terms of regions, Asia-Pacific is the largest market for sports composites and is estimated to depict the highest growth in the coming five years. China and India are the growth engines of the region. The market is driven by the growing demand for premium performance products in the skis & snowboards application segment, hassle-free availability of raw materials, and low-labor cost in the region. North America and Europe are also expected to offer considerable growth opportunities during the forecast period.
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