According to a new market report published by Lucintel, the future of the composite materials in the global sporting goods industry looks attractive with opportunities in skis & snowboards, bicycle, rackets, golf clubs & shafts, hockey sticks, and fishing rod applications. The composite materials market in the global sporting goods industry is expected to reach an estimated $579 million by 2023 and is forecast to grow at a CAGR of 3.2% from 2018 to 2023. The major drivers for this market are increasing use of lightweight and high-performance materials in sports equipment.
In this market, fiber (glass fiber, carbon fiber, aramid fiber) and resin (epoxy, polyamide, vinyl ester) are the major raw materials used for producing skis/snowboards, bicycle components, rackets, golf clubs/shafts, hockey sticks, and fishing rods. Lucintel forecasts that the skis & snowboard is expected to remain the largest application by volume and golf shafts & clubs by value. Fishing rod is expected to witness the highest growth during the forecast period supported by the growing demand for lightweight and high strength materials.
By reinforcement type, carbon fiber reinforced composite is expected to remain the largest segment over the forecast period. In terms of growth, glass fiber composites and carbon fiber composites are expected to witness moderate growth over the forecast period.
By resin type, epoxy based composite is expected to remain the largest segment by value and volume due to its wider application areas. Polyamide based composites is expected to witness highest growth over the forecast period due to increasing use of thermoplastic resin based materials.
Asian Pacific is expected to remain the largest market and it is also expected to witness the highest growth over the forecast period. Asia Pacific became the home for leading composite component manufactures for sporting goods industry.
Emerging trend, which has a direct impact on the dynamics of the industry, includes increasing use of thermoplastic resin based composite materials.
Some of the companies supplying composite materials to sporting goods industry are Toray, Mitsubishi Rayon Co., TenCate, Lanxess, and Hexcel.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in composites in the sporting goods industry by application, reinforcement, resin, process, and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities for Composite Materials in the Global Sporting Goods Industry 2018-2023: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for composites in the sporting goods industry by application, reinforcement, resin, process, and region as follows:
By Application [Volume (M lbs) and $M shipment analysis from 2012 to 2023]:
• Golf Clubs/Shafts
• Hockey Sticks
• Bicycle Parts
• Fishing Rods
By Reinforcement [Volume (M lbs) and $M shipment analysis from 2012 to 2023]:
• Carbon Composites
• Glass Composites
By Resin [Volume (M lbs) and $M shipment analysis from 2012 to 2023]:
• Vinyl Ester
By Manufacturing Process [Volume (M lbs) and $M shipment analysis from 2012 to 2023]:
• Prepreg Layup
• Filament Winding
• Wet Layup
By Region [Volume (M lbs) and $M shipment analysis from 2012 to 2023]:
• North America
• Asia Pacific
• Rest of the World
This 193-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email@example.com. Lucintel offerings include advanced materials reports, composite materials market report, strategic growth consulting, market research due diligence and business strategy consulting.
This report answers following 11 key questions:
Q.1 What are some of the most promising potential, high-growth opportunities for composites in the sporting goods industry by market segments (golf clubs/shafts, hockey sticks, rackets, bicycle parts, skis/snowboards, fishing rods, others), by reinforcement (carbon composites, glass composites, and others), by resin (epoxy, polyamide, and others), by process (prepreg layup, infusion, filament winding, wet layup, others), and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are emerging trends in this market and the reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this market?