Sports Composite Market Research Report By Material (Glass fibers, Carbon fibers, Thermoplastic materials, Thermoset materials), By Composite Type (Carbon Fiber Reinforced Plastic (CFRP), Glass Fiber Reinforced Plastic (GFRP), Hybrid Composites), By Processing Technology (Hand Lay-up, Resin Transfer Molding (RTM), Autoclave Molding, Vacuum Infusion), By Application (Aerospace, Automotive, Medical, Wind Energy, Construction, Sporting Goods) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forec

Global Sports Composite Market Overview

The Sports Composite Market Size was estimated at 11.5 (USD Billion) in 2022. The Sports Composite Industry is expected to grow from 12.44 (USD Billion) in 2023 to 25.1 (USD Billion) by 2032. The Sports Composite Market CAGR (growth rate) is expected to be around 8.12% during the forecast period (2024 - 2032).

Key Sports Composite Market Trends Highlighted

Key market trends in the global sports composites market include increasing demand for lightweight and durable materials in sports equipment, the growing popularity of composite materials in the automotive and aerospace industries, and rising investments in research and development of advanced composites. Additionally, the use of composite materials in protective gear is gaining traction due to their ability to provide enhanced protection while reducing weight. The market is also witnessing a trend towards the adoption of sustainable and environmentally friendly composite materials. Innovations in manufacturing processes and the development of new composite materials are expected to drive future market growth.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Sports Composite Market Drivers

Growing Popularity of Sports and Fitness Activities

The increasing popularity of sports and fitness activities worldwide is a major driver of the growth of the Sports Composite Market. As more people participate in sports and fitness activities, the demand for sports composites used in equipment and gear increases. Sports composites offer advantages such as lightweight, durability, and high performance, which makes them ideal for use in a variety of sports applications, including tennis rackets, golf clubs, hockey sticks, and bicycle frames.The growing popularity of sports and fitness is expected to continue to drive the demand for sports composites in the coming years.

Advancements in Materials Technology

Advancements in materials technology are another key driver of the growth of the Sports Composite Market. The development of new and improved composite materials is leading to the creation of sports composites with enhanced properties, such as higher strength, lighter weight, and greater durability. These advancements are making sports composites more attractive for use in a wider range of applications, including high-performance sports equipment and gear.The ongoing research and development in materials technology is expected to continue to drive the growth of the sports composite market in the coming years.

Rising Demand for Lightweight and Durable Materials

The rising demand for lightweight and durable materials in the sports industry is another important driver of the growth of the Sports Composite Market. Sports composites offer a unique combination of lightweight and durability, which makes them ideal for use in a variety of sports applications. For example, sports composites are used in the construction of lightweight and durable bicycle frames, tennis rackets, and golf clubs. The growing demand for lightweight and durable materials is expected to continue to drive the demand for sports composites in the coming years.

Sports Composite Market Segment Insights

Sports Composite Market Material Insights  

The Sports Composite Market segmentation by Material comprises glass fibers, carbon fibers, thermoplastic materials, and thermoset materials. Glass fibers held the largest market share in 2023, accounting for over 60% of the Sports Composite Market revenue. Carbon fibers are projected to experience the fastest growth over the forecast period, owing to their high strength-to-weight ratio and excellent corrosion resistance. Glass fibers are widely used in the production of sports equipment due to their low cost and high strength. They are commonly found in golf clubs, tennis rackets, and fishing rods.Carbon fibers offer superior strength and stiffness compared to glass fibers, making them ideal for applications where weight reduction is critical, such as in bicycles and racing cars. Thermoplastic materials, such as polyethylene and polypropylene, are lightweight and flexible, making them suitable for a variety of sports applications. They are commonly used in the production of helmets, protective gear, and footwear. Thermoset materials, such as epoxy and polyester resins, offer high strength and stiffness but are less flexible than thermoplastic materials.The growing popularity of outdoor activities, such as hiking, biking, and kayaking, is also expected to contribute to market growth.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Sports Composite Market Composite Type Insights  

The Sports Composite Market is segmented based on Composite Type into Carbon Fiber Reinforced Plastic (CFRP), Glass Fiber Reinforced Plastic (GFRP), and Hybrid Composites. The CFRP segment is projected to account for the largest revenue share owing to its superior strength-to-weight ratio, high stiffness, and excellent corrosion resistance, making it ideal for applications in sports equipment such as bicycle frames, tennis rackets, and golf clubs. The GFRP segment is expected to witness significant growth due to its affordability and ease of processing, making it suitable for mass-produced sports products such as kayaks, surfboards, and skateboards.Hybrid Composites, combining the properties of CFRP and GFRP, offer a balance of strength, weight, and cost and are gaining traction in applications like running shoes and protective gear.

Sports Composite Market Processing Technology Insights  

The Processing Technology segment in the Sports Composite Market is expected to witness steady growth over the forecast period. Key processing technologies used in sports composite manufacturing include Hand Lay-up, Resin Transfer Molding (RTM), Autoclave Molding, and Vacuum Infusion. Each technology offers unique advantages and is suited for specific applications. Hand Lay-up, a manual process, is cost-effective and suitable for low-volume production. RTM involves injecting resin into a closed mold, ensuring high fiber content and structural integrity.Autoclave Molding utilizes heat and pressure to cure composites, resulting in high-performance and lightweight components. Vacuum Infusion employs a vacuum to draw resin into a mold, offering cost-effectiveness and design flexibility. The choice of processing technology depends on factors such as production volume, part complexity, and desired material properties.

Sports Composite Market Application Insights  

The Sports Composite Market is segmented into various applications, including aerospace, automotive, medical, wind energy, construction, and sporting goods. Each segment offers unique growth opportunities and presents different challenges for manufacturers. The aerospace segment is expected to witness significant growth due to the increasing demand for lightweight and durable materials in aircraft manufacturing. The automotive segment is also expected to contribute significantly to the market growth due to the rising popularity of electric vehicles and the need for lightweight materials to improve fuel efficiency.The medical segment is poised for growth due to the increasing use of composite materials in medical devices and implants. The wind energy segment is also expected to witness steady growth due to the growing adoption of wind turbines for renewable energy generation. The construction segment is expected to benefit from the increasing use of composite materials in building and infrastructure projects. The sporting goods segment is also expected to contribute to the market growth, driven by the growing demand for high-performance materials in sports equipment.

Sports Composite Market Regional Insights  

The Sports Composite Market is segmented by region into North America, Europe, APAC, South America, and MEA. The North American region is expected to hold the largest market share in 2023 and is projected to continue its dominance throughout the forecast period. The growth in this region can be attributed to the increasing demand for sports composites in various applications such as automotive, aerospace, and construction. The European region is anticipated to witness significant growth in the Sports Composite Market during the forecast period.The rising adoption of sports composites in various industries, including automotive and wind energy, is driving the market growth in this region. The APAC region is projected to be the fastest-growing market for sports composites. The increasing demand for sports composites in the automotive and construction industries is fueling the market growth in this region. The South American and MEA regions are expected to witness moderate growth in the Sports Composite Market during the forecast period. The growing demand for sports composites in the automotive and construction industries is anticipated to drive market growth in these regions.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Sports Composite Market Key Players And Competitive Insights

Major players in the Sports Composite Market industry are constantly innovating and developing new products to stay ahead of the competition. Leading Sports Composite Market players are investing heavily in research and development to create new and improved products that meet the needs of consumers. The Sports Composite Market industry is highly competitive, with a number of major players vying for market share. Some of the leading players in the Sports Composite Market include Toray Industries, Mitsubishi Rayon, Hexcel, Teijin, and SGL Carbon. These companies are all well-established in the industry and have a strong track record of innovation and success. The Sports Composite Market is expected to continue to grow in the coming years, driven by increasing demand from a variety of end-use industries.As a leading company in the Sports Composite Market, Toray Industries has a long history of innovation and success. The company is a major supplier of carbon fiber and other advanced composite materials to a variety of industries, including the aerospace, automotive, and sporting goods industries. Toray Industries is committed to providing its customers with high-quality products and services, and the company is constantly investing in research and development to create new and improved products. The company's strong financial performance and commitment to innovation make it a leading player in the Sports Composite Market.Hexcel is a leading global manufacturer of advanced composite materials, including carbon fiber, glass fiber, and other specialty fibers. The company's products are used in a variety of industries, including the aerospace, automotive, and sporting goods industries. Hexcel is committed to providing its customers with high-quality products and services, and the company is constantly investing in research and development to create new and improved products. The company's strong financial performance and commitment to innovation make it a leading player in the Sports Composite Market.

Key Companies in the Sports Composite Market Include

• Huntsman Advanced Materials LLC


• Formosa Plastics Corporation


• Dow Chemical Company


• SABIC


• Celanese Corporation


• Mitsubishi Chemical Corporation


• Toray Industries


• Cytec Solvay Group


• Lanxess AG


• Hexcel Corporation


• BASF SE


• Solvay SA


• Teijin Limited


• SGL Carbon SE


• Gurit Holdings AG

Sports Composite Market Industry Developments

The Sports Composite Market is projected to reach USD 25.1 billion by 2032, exhibiting a CAGR of 8.12% during the forecast period (2024-2032). Rising participation in sports activities and increasing disposable income are key factors driving market growth.Recent developments in the market include the launch of innovative products such as lightweight and durable composite materials for sports equipment. For instance, in 2023, Carbon, a leading manufacturer of composite materials, introduced a new line of high-performance carbon fiber composites designed specifically for sports applications.Key market players are focusing on strategic partnerships and acquisitions to expand their product portfolio and geographical reach. In 2023, Toray Industries, a major player in the sports composite market, acquired Mitsui Chemicals' composite materials business to strengthen its position in the industry.

Sports Composite Market Segmentation Insights

• Sports Composite Market Material Outlook
  
  
  
  • Glass fibers
  
  
  • Carbon fibers
  
  
  • Thermoplastic materials
  
  
  • Thermoset materials
  
  
  
  

• Sports Composite Market Composite Type Outlook
  
  
  
  • Carbon Fiber Reinforced Plastic (CFRP)
  
  
  • Glass Fiber Reinforced Plastic (GFRP)
  
  
  • Hybrid Composites
  
  
  
  

• Sports Composite Market Processing Technology Outlook
  
  
  
  • Hand Lay-up
  
  
  • Resin Transfer Molding (RTM)
  
  
  • Autoclave Molding
  
  
  • Vacuum Infusion
  
  
  
  

• Sports Composite Market Application Outlook
  
  
  
  • Aerospace
  
  
  • Automotive
  
  
  • Medical
  
  
  • Wind Energy
  
  
  • Construction
  
  
  • Sporting Goods
  
  
  
  

• 
  

  Sports Composite Market Regional Outlook

  
  
  
  
  • North America
  
  
  • Europe
  
  
  • South America
  
  
  • Asia Pacific
  
  
  • Middle East and Africa