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
- Rackets
- Bicycle Parts
- Skis/Snowboards
- Fishing Rods
- Others
By Reinforcement
[Volume (M lbs) and $M shipment analysis from 2012 to 2023]:
- Carbon Composites
- Glass Composites
- Others
By Resin [Volume
(M lbs) and $M shipment analysis from 2012 to 2023]:
- Epoxy
- Polyamide
- Vinyl Ester
- Others
By Manufacturing
Process [Volume (M lbs) and $M shipment analysis from 2012 to 2023]:
- Prepreg Layup
- Infusion
- Filament Winding
- Wet Layup
- Others
By Region [Volume (M lbs) and $M shipment
analysis from 2012 to 2023]:
·
North America
·
Europe
·
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 helpdesk@lucintel.com. Lucintel
offerings include advanced
materials reports, composite
materials market report, strategic
growth consulting, market research due
diligence and business
strategy consulting.
About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates winning strategies for growth. It
offers market assessments, competitive analysis, opportunity analysis, growth
consulting, M&A, and due diligence services to executives and key
decision-makers in a variety of industries. For further information, visit
www.lucintel.com.
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?
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