Sports Composites Market - Forecast(2023 - 2028)

Sports Composites Market Overview

The Sports Composites Market size is projected to reach US$5.9 billion by 2027, after growing at a CAGR of 4.5% during the forecast period 2022-2027. Composites such as epoxy, polyamide, carbon fiber, metals and more are effective at absorbing shock. These materials are strong for their weight and can be used for a variety of design requirements. Recent developments in fiber-based composites allow for design flexibility, simple processing, lightweight sporting equipment and excellent durability. The surging technological launches related to bicycles are the primary factor driving the Sports Composites Market growth. However, in 2021, the Covid-19 pandemic impacted the supply chain, which resulted in a halt in production activities related to sports equipment. This factor restricted the growth of the sports composites industry. In 2021, the resurgence in sports manufacturing spurred the growth of the sports composites industry. Moreover, the surging adoption of golf sticks is fueling the demand for sports composites. This, in turn, is propelling the Sports Composites Market size growth.

Report Coverage 

The report: "Sports Composites Market Report–Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Sports Composites Market. 

By Product Type: Polymers (Thermoplastic (Polyethylene, Polystyrene, Polyamide, Carbon fiber, Polypropylene and Others) and Thermoset (Epoxy, Vinyl Ester, Polyester, Phenolic Polyamide and Others), Metal (Titanium, Magnesium, Aluminum and Others), Carbon, Graphite and Others.
By Fibers: Natural (Animal, Vegetable, Mineral and Others) and Advanced (Glass, Carbon, Ceramic and Others).
By Additives & Fillers: Additives (Pigments & Colorants, Fire Retardants, Suppressants, UV Inhibitors & Stabilizers and Others) and Fillers (Calcium carbonate, Kaolin and Others).
By Technology: Injection Molding, Compression Molding, Pultrusion, Filament Winding, Layup and Others. 
By Application: Golf Sticks, Hockey Sticks, Racquets, Bicycles, Skies and Snowboards, Windsurfing Masts and Boards and Others.
By Geography: North America (the USA, Canada and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and Rest of South America), Rest of the World [Middle East (Saudi Arabia, UAE, Israel and Rest of Middle East) and Africa (South Africa, Nigeria and Rest of Africa)].

Key Takeaways 

The polymers segment held the largest Sports Composites Market share in 2021 and is projected to grow at a CAGR of 4.6% during the forecast period 2022-2027. Polymers like polyamide have characteristics including being lightweight, robust, resistant to corrosion and having superior energy transmission. The polymers such as polyamide, epoxy and more are utilized in the blade of an ice hockey stick to ensure protection when it is taped, keeping the stick lightweight and reducing the impact of impacts during play. Additionally, polyurethane is frequently used in a variety of industries to make hockey and polo sticks, court flooring and artificial turf for playing. Thus, owing to the above-mentioned properties of polymers, their adoption is surging in the sports industry. This factor is accelerating the Sports Composites Market growth. 

Sports Composites Market Segment Analysis – By Application 

The bicycles segment held the largest Sports Composites Market share in 2021 and is expected to grow at a CAGR of 5.5% during the forecast period 2022-2027. Sports composites like polymers, carbon fiber and others are used in bicycles to reduce weight, which makes them easier for riders to manage and lowers their cost. The increasing demand for lightweight bicycles for sports and leisure activities is the key reason for the development of bicycles with superior composites. For instance, in January 2020, REIN4CED and Accell Group created a partnership to automate the production of premium carbon fiber bicycle frames for Accell Group. Germany, Spain, Austria, Switzerland, Italy and the Czech Republic will be the first countries to receive the first hardtail mountain bikes equipped with the new technology for Accell's brand Ghost in mid-2020. In Belgium, REIN4CED established a completely new automated production facility. Hence, the development of new bicycles made from composites is fueling the demand for sports composites. As a result, the Sports Composites Market is growing.

Sports Composites Market Segment Analysis – By Geography 

North America is the dominating region as it held the largest Sports Composites Market share in 2021 up to 35%. The surging adoption of a healthy lifestyle, improving fitness consciousness and others are the crucial variables fueling the surge in the adoption of bicycles in the North American region. Bicycle manufacturers based in North America are launching new products with a focus on incorporating sports composites to reduce bicycle weight. For instance, in April 2022, PNW Components, headquartered in the US unveiled their brand-new Range Pedal, a composite flat pedal that offers riders comfort, grip and affordability with no compromises. The Range Pedal is made of nylon composite material and is intended for everyday trail rides. A tapered base gives room to prevent pedal hits. Also, in March 2022, OvareVentures, based in the USA invested in Toronto-based BRIDGE Bike Works, a producer of carbon fiber bicycles, to expand its portfolio of outdoor and active brands. During the pandemic, bike sales increased by up to 120 percent as consumer expectations shifted in favor of locally produced goods. Therefore, the surging innovations related to bicycles in North America are boosting the demand for sports composites. This, in turn, is bolstering the Sports Composites Market size growth.