The sports composites market size is estimated to be USD 4.1 billion in 2021 and is projected to reach USD 5.1 billion by 2026, at a CAGR of 4.8% during the forecast period. The demand for carbon fibers is very high in carbon frames, golf sticks, and rackets manufacturing due to excellent performance properties such as high-strength, good grip, anti-corrosion properties, and lightweight.
The glass fiber segment accounts for the largest share in the sports composites market in terms of volume. Glass fiber composites are made by mixing glass fibers with a polymer matrix. These fibers are commonly used as a reinforcing element in composites. Owing to their superior attributes such as strength, flexibility, durability, stability, low weight, and resistance to heat, temperature, and moisture, glass fiber is used for various applications in the sports industry. Glass fiber is majorly utilized in skis & snowboards, hockey sticks, fishing rods, and others.
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The epoxy resin type segment accounted for a larger share, in terms of value and volume, of the global sports composites market in 2020. The high share is attributed to the provision of increased efficiency, thereby reducing the overall weight of the equipment. In addition, it also provides better fatigue resistance, corrosion resistance, and improved quality for various applications such as golf clubsgolf sticks, rackets, bicycles, hockey sticks, skis & snowboards, fishing rods, and others.
Skis & snowboards accounted for the largest share in terms of volume and value. The high demand is attributed to various sports activities such as snowboarding, cross-country skiing, alpine skiing, speed skating, ice-skating, and others which are played during winter in North America and the European regions.
Companies operating in the sports composites market have strengthened their position by adopting expansions and new product/technology launches from 2016-2020. Expansions, joint ventures, acquisitions, and new product launches were among the key growth strategies adopted by the market players between January 2015 and November 2020. Amer Sports (Finland), ALDILA, Inc. (US), Jarden Corporation (US), ProKennex (Taiwan), Fischer Sports GmbH (Austria), Topkey Corporation (Taiwan), Rossignol (France), and others are some of the key players in the sports composites market.
In October 2021, Finland-based Amer Sports, which owns the outdoor brands Salomon, Arc’teryx, and Atomic, proposed a USD 30 million upgrade to its warehouse and distribution center in the Business Depot Ogden, as part of an expansion plan which is expected to create up to 155 jobs over ten years. The upgrade is expected to take the form of interior renovations and the installation of new fixtures and equipment.
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In January 2021, SGL Carbon, which is a graphite and carbon composites materials supplier, is launching a USD 4.5 million expansion project at its Arkadelphia, AR plant with a plan to increase its capacity for carbon composites. The expansion is expected to become operational by the end of the year. SGL Carbon operates 31 production facilities in Europe, Asia, and North America. This expansion is expected to boost the growth of the sports composites market.
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