Global Sports Composites Market size and share is currently valued at USD 4.00 billion in 2024 and is anticipated to generate an estimated revenue of USD 6.92 billion by 2034, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 5.6% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2025 - 2034
Market Overview
Sports composites are advanced materials composed of fibers, resins, and additives designed to enhance the performance of sports equipment and apparel. These materials offer superior strength-to-weight ratios, durability, flexibility, and improved aerodynamics. Common applications include tennis rackets, golf clubs, bicycles, skis, snowboards, and hockey sticks. The innovative use of these materials contributes to the development of high-performance sports gear, meeting the evolving needs of athletes seeking enhanced efficiency and functionality.
Key Companies
- Mitsubishi Chemical Group Corp.
- TORAY INDUSTRIES, INC.
- TEIJIN LIMITED.
- SGL Carbon
- Arvind Composite
- Epsilon Composite
- Advanced Composites, Inc.
- Hexcel
- Rockman Advanced Composites
- New Era Materials
- ACP COMPOSITES, INC.
- ARRIS Composites, Inc.
Key Market Growth Drivers
-
Technological Advancements: Continuous innovations in composite materials, such as the development of lighter and stronger fibers, have significantly enhanced sports equipment performance. These advancements enable manufacturers to produce gear that offers improved strength, durability, and accuracy, meeting the high-performance demands of athletes.
-
Increased Sports Participation: The growing popularity of sports and fitness activities worldwide has led to a higher demand for advanced sports equipment. As more individuals engage in sports for health and recreational purposes, the need for high-quality, durable, and lightweight equipment has escalated.
-
Emerging Applications: Composites are finding new uses in various sports goods applications, including wheel-tire systems, fitness equipment, helmets, cycling shoes, and protective wear. The versatility and superior properties of composites make them suitable for a wide range of sports equipment, driving market expansion.
-
Sustainability Trends: The growing focus on sustainability and eco-friendliness is expected to lead to the development of recycled and bio-based carbon fibers. Companies like Toray Composite Materials America, Inc. have partnered with Elevated Materials to repurpose carbon fiber waste, aligning with environmental goals.
Market Challenges
Despite the positive outlook, the market faces several challenges:
-
High Production Costs: The manufacturing of composite materials involves high costs, which can limit their widespread adoption, especially in price-sensitive markets. Traditional materials like metals and plastics often present more cost-effective solutions, posing competition to composites.
-
Recycling Difficulties: The use of composites in various end-use industries helps in the reduction of weight and increases performance. However, difficulties in recycling composites is a major challenge faced by composite manufacturers. Most of the composites used are disposed of at landfills, which is not an environment-friendly solution. Many European Union countries have prohibited landfilling composite wastes, increasing pressure on manufacturers to find sustainable disposal methods.
-
Environmental Concerns: The production and disposal of composite materials can have an environmental impact due to the use of resins and fibers derived from non-renewable natural resources. Efforts to mitigate these effects, such as recycling or using bio-based materials, can complicate the production process and increase costs.
Regional Analysis
-
Asia Pacific: Dominating the global market with a revenue share of 33.1% in 2023, the Asia Pacific region is expected to grow at the fastest CAGR over the forecast period. This growth is attributed to the burgeoning sports culture, rapid economic development, increased participation in sports, and rising standards of living in countries like China, India, Japan, and South Korea.
-
North America: Holding a significant market share of 37.9% in 2023, North America's sports composites market is driven by a robust sports culture, technological advancements, and the presence of major sports equipment manufacturers. The United States, in particular, dominates the region, supported by its advanced manufacturing capabilities and strong consumer demand for premium sporting equipment.
-
Europe: Countries like Germany, the United Kingdom, Italy, and France lead the European sports composites market, characterized by high-quality manufacturing standards and significant technological innovations in composite materials. The presence of established sporting goods manufacturers and a strong tradition of sports participation support market growth.
-
Latin America and Middle East & Africa: These regions are experiencing growth due to rising interest in sports and outdoor activities, leading to increased demand for lightweight and durable composites in sports equipment manufacturing.
Market Segmentation
-
By Fiber Type:
-
Carbon Fiber: Held a significant revenue share of 54.5% in 2023, favored for its lightweight and high-strength properties.
-
Glass Fiber: Expected to grow at a significant CAGR due to its increasing use in snowboards and skis, providing additional strength during landing.
-
-
By Resin Type:
-
Epoxy: Dominated the market with a 39.6% share, widely used in sports equipment manufacturing.
-
Polyamide: Expected to grow at a significant CAGR, suitable for outdoor sports equipment due to its corrosion resistance.
-
-
By Application:
-
Golf Sticks: Accounted for the dominant share of 29.2% in 2023, driven by the increasing popularity of golf.
-
Bicycles: Held the largest market share in the application segment, around 39.56% in 2023, due to the demand for lightweight and efficient bike frames.
-
Explore More:
https://www.polarismarketresearch.com/industry-analysis/sports-composites-market
Recent Developments
-
In March 2023, SGL Carbon introduced a new carbon fiber named ‘SIGRAFIL C T50-4.9/235’, characterized by high elongation and high strength, suitable for sports applications.
-
In February 2021, TEIJIN LIMITED launched Tena BM and Tenax PW brands of carbon fiber materials for sports applications, aligning with the increasing demand for high-performance, lightweight, and durable materials.
-
On April 30, 2024, Amer Sports partnered with PV3 to divest ENVE Composites, aiming to capitalize on new growth opportunities for its sports composites brand.
Conclusion
The sports composites market is poised for significant growth, driven by technological advancements, increased sports participation, and the demand for high-performance equipment. While challenges like high production costs and recycling difficulties persist, ongoing innovations and a focus on sustainability are expected to shape the future of the market. Companies that invest in research and development, strategic partnerships, and sustainable practices will be well-positioned to capitalize on the growing opportunities in the sports composites industry.
APAC Crop Protection Chemicals Market
Non-Associated Cellulose Rheology Modifiers Market
Imidazoline Derivative Inhibitor Market
Non-Associated Cellulose Rheology Modifiers Market
English
Arabic
Spanish
Portuguese
Deutsch
Turkish
Dutch
Italiano
Russian
Romaian
Portuguese (Brazil)
Greek