Sports Composites Market to experience an impressive growth of 7.2% during 2020-2025
January 31, 2020
Sports composites market is likely to witness an impressive CAGR of 7.2% during the forecast period. 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.
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Sports Composites Market Segment Insights:
By Resin Type:
Based on the resin type, the market is segmented as epoxy resin, polyamide resin, polyurethane resin, polypropylene resin, and others. The epoxy resin segment is estimated to be the fastest-growing segment in the coming five years. The growth is attributed to its remarkable properties, such as elevated heat, mechanical, and electrical resistance.
By Fiber Type:
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.
By Application Type:
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.
By Region:
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.
Key Players:
Some of the major players in the sports composites market are Aldila Inc., Amer Sports, E. I. Du Pont De Nemours and Company, Fischer Sports GmbH, Hexion Inc., Jarden Corporation, Topkey Corporation, and Toray Industries Inc.
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- Attractive market segments and associated growth opportunities
- Emerging trends
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- Key success factors
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