According to the new market research report "Sports Composites Market by Resin Type (Epoxy, Polyamide, Polyurethane, Polypropylene) Fiber Type (Carbon, Glass), Application (Golf Sticks, Hockey Sticks, Rackets, Bicycles, Skis & Snowboards) and Region Global Forecast to 2026", published by MarketsandMarkets™, the Sports Composites Market is expected to grow from USD 4.1 billion in 2021 to USD 5.1 billion by 2026, at a CAGR of 4.8% during the forecast period. Composites in sports applications offer higher degree of strength and flexibility, reduced weight, and corrosion-resistant properties.
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.
The Asia Pacific region dominated the sports composites markets, in terms of value and volume and is projected to grow at the highest CAGR between 2021 and 2026. China & Taiwan are the leading manufacturers of sports composites goods in the Asia Pacific and worldwide. This growth can be attributed to the availability of raw materials and labor at reduced costs, especially in Greater China i.e., China, Hong Kong, Macau, and Taiwan. In addition, Japan is a major producer of carbon fiber composites, which is also one of the factors for the growth of the market in this region.
