According to Market.us, the Global Sports Composites Market size is forecasted to exceed USD 6.6 billion by 2033, with a promising CAGR of 5.2% from 2024 to 2033.
The global sports composites market was valued at USD 4.0 Billion in 2023. The “Sports Composites Market” refers to the segment of the industry that focuses on using composite materials to produce sports equipment.
Composites, which are materials made from two or more constituent materials with significantly different physical or chemical properties, are chosen for their specific performance characteristics like strength, lightness, and durability. This market includes items such as bicycles, golf clubs, rackets, and various protective gear used in sports, which benefit from the advanced properties of composites to enhance athletic performance and equipment longevity.
Key Takeaway
- In 2023, the global sports composites market generated a revenue of USD 4.0 billion, with a CAGR of 5.2%, and is expected to reach USD 6.6 billion by the year 2033.
- The type held a major share of the market, with carbon fiber taking the lead in 2023 with a market share of 64.4%.
- By fiber type, carbon fiber among the other sub-segments held a significant revenue share of the market with 54.5% of the global sports composites market.
- By application, golf sticks accounted for the dominant share of 29.2%.
- The North American region led the market by securing a market share of 37.9% in 2023.
- Sports composites are up to 50% lighter than traditionally used materials yet, offer a similar or improved strength and durability.
Factors affecting the growth of the Sports Composites Market
- Technological Advancements: Innovations in composite materials, such as the development of lighter and stronger fibers, enhance sports equipment performance, driving market growth.
- Increased Demand for Durable and Lightweight Equipment: As athletes seek competitive advantages through high-performance gear, demand for composites that offer strength without adding weight grows.
- Growing Sports Participation: Increasing participation in sports activities globally boosts the demand for sports equipment, benefiting the composites market.
- Environmental Concerns and Regulations: There is a rising trend toward using sustainable and eco-friendly materials, influencing composite choices in sports manufacturing.
- Economic Factors: Fluctuations in the cost of raw materials and the economic capability of consumers to invest in high-quality sports equipment can also impact market dynamics
Top Trends in the Global Sports Composites Market
The sports composites market is being driven by a growing global demand for sustainable and eco-friendly materials. This shift is driven by environmental concerns and consumer demand for materials that minimize ecological impact while maintaining high performance. Renewable resources like bio-based fibers and recycled materials are being developed, reducing petroleum dependency.
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Regulatory pressures and consumer preferences for sustainable products are accelerating this transition, leading companies to invest in research to create and refine sustainable options. This aligns with global environmental goals and opens new market opportunities for sports composites manufacturers.
Market Growth
The sports composites market is witnessing significant growth, driven primarily by advancements in material technology and increasing demand for high-performance sports equipment. Innovations in carbon fiber and other composite materials are enabling manufacturers to produce equipment that is not only lighter and stronger but also more durable. This is particularly appealing in sports where performance can be enhanced by the slightest improvements in equipment weight and durability.
Additionally, growing environmental awareness is pushing the industry towards more sustainable practices, including the use of eco-friendly materials, which is also contributing to market expansion. The increasing popularity of sports activities globally further fuels this growth, creating larger demand in both established and emerging markets.
Regional Analysis
North America leads the Global Sports Composites Market with a revenue of 1.5 billion, accounting for 37.9%. This growth is attributed to increased consumer demand for advanced athletic equipment and material innovations. The market’s expansion is driven by the sports industry’s expansion, health and fitness focus, favorable trade policies, and robust supply chain infrastructure. Partnerships between sports brands and technology companies further drive innovation.
Scope of the Report
| Report Attributes | Details |
| Market Value (2023) | USD 4.0 Billion |
| Forecast Revenue 2033 | USD 6.6 Billion |
| CAGR (2024 to 2033) | 5.2% |
| North America Market Share | 37.9% |
| Base Year | 2023 |
| Historic Period | 2020 to 2022 |
| Forecast Year | 2024 to 2033 |
Market Drivers
The global market for high-performance sports is driven by rapid urbanization and increasing consumer interest in recreational activities like golf, skiing, cycling, and triathlon. The increasing number of amateur players, awareness through social media, and per capita income contribute to this growth. The availability of sports clubs and associations also attracts consumers. Golf has reached 123 million Americans, marking a significant increase in participation.
Market Restraints
The market for sports composites is likely to be impacted by limited recycling and disposal options due to environmental and sustainability concerns. These materials generate non-biodegradable waste, leading to landfill and ocean pollution. Governments have imposed strict regulations on waste management, increasing costs for manufacturers. The industry’s inability to address eco-friendly disposal is also a concern.
Opportunities
The sports composites market is experiencing significant growth due to the increasing popularity of emerging sports applications and the development of new materials and advanced technologies. These advancements provide enhanced performance features, reduced weight, increased durability, and superior strength. Manufacturers are investing in research and development to stay ahead of these evolving requirements, positioning the market for significant growth.
Report Segmentation of the sports composites Market
By Resin Type Analysis
The epoxy market, segmented into polyurethane, polyamide, and polypropylene, holds a 39.6% share due to its increasing applications in sports equipment. Epoxy’s excellent mechanical properties, chemical resistance, and adhesive capabilities make it an ideal matrix material for high-performance composites. Its bonding with reinforcement materials like carbon and glass fibers enhances its appeal. The demand for durable, efficient sports equipment drives epoxy resin adoption, with advancements improving impact resistance, UV resistance, and sustainability. Epoxy-based composites are also popular in water sports, cycling, and golf.
By Fiber Type Analysis
The global sports composites market is dominated by carbon fiber, accounting for 54.5% of the market. This material is ideal for high-performance sports equipment like bicycle frames, golf clubs, tennis rackets, and athletics shoes. As athletes demand lightweight, durable equipment, carbon fiber’s popularity is expected to rise. Advancements in production, improved manufacturing processes, and reduced costs are expected to fuel its adoption. The trend of customization and tailored equipment is also expected to boost the segment. The growing focus on sustainability and eco-friendliness is expected to lead to the development of recycled and bio-based carbon fibers. Toray Composite Materials America, Inc. has partnered with Elevated Materials to repurpose carbon fiber waste.
By Application Analysis
The sports composites market is segmented into golf sticks, hockey sticks, racquets, bicycles, skis, snowboards, and windsurfing masts. The golf sticks segment holds 29.2% due to global golf popularity. Composites like carbon fiber are used in golf club shafts and heads, offering improved strength, durability, and accuracy. Advancements in composite materials and manufacturing processes enhance performance and reduce weight. Customization trends and increased participation in golf drive the adoption of advanced composites.
Recent Development of the sports composites Market
- On April 30, 2024, Amer Sports has partnered with PV3 to divest ENVE Composites, aiming to capitalize on new growth opportunities for its sports composites brand.
- On March 2023 SGL Carbon has introduced its latest carbon fiber, ‘SIGRAFIL C T50-4.9/235’, renowned for its high elongation and strength, ideal for use in sports, construction, and infrastructure sectors.
Competitive Landscape
Major players in the global sports composites market, including ALDILA, Amer Sports, Callaway Golf, Celanese Corporation, Dexcraft, and EPSILON Composite, are investing in innovation and expanding their businesses to position themselves higher in the competitive market.
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