The Global Carbon Fiber in Sports Equipment Market size is estimated to be USD 247.4 million in 2019 and is predicted to reach USD 479.4 million by 2030 with a CAGR of 6.2% from 2020-2030.
Carbon fiber is a lightweight polymer made up of carbon atoms. It is five times stronger than steel and twice stiff. Because of its light-weight and incomparable strength it is very popular in aerospace, military, automotive and sports equipment. The sporting goods market boon with the advancements in the technology of advanced composites in the early 20th century. Golfing shafts, tennis racquets, and carbon fiber bicycles are some of the examples of the sporting equipment made up of carbon fiber. Carbon reinforced composites along with glass and carbon hybrids are replacing wood and metal in sporting goods such as fishing rods, bowling balls, skis, windsurfing boards, kayak paddles, bicycle handlebars and many more.
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Top Companies: Hexcel, Mitsubishi Rayon, SGL Group, TEIJIN, Toray Industries, Cytec Solvay Group, DowAksa, Kemrock Industries and Exports, Nippon Graphite Fiber, Zoltek Carbon Fiber and others.
Market Dynamics and Trends:
In the recent years, there has been noteworthy activity in the market of watersports, especially in the area of paddleboard fins. There has been several concern for the companies for the performance related customer-specific demands, with the increasing participation in watersports and for the respect of environment, many companies have started coming up with inventive composite designs. A standout example came from Future Fins which are the surfing equipment manufacturer from Huntington Beach, CA, US. They designed new fin product aimed at reducing landfill waste.
There has been a growing trend towards sports equipment customization which triggered the top equipment manufacturers to cater to this demand of the athletes. For example, Krone Ltd. Dallas, TX, US, has been employing composite addition in the manufacture of their elite golf clubs.
The primary market drivers are the light-weight, stiffness, and resistance advantage enjoyed by carbon fibers in manufacturing sport sticks and rackets. Also the use of carbon fibers used in the manufacturing of golf club shafts, are primarily preferred due to their better swing and overall balance of the golf clubs.
The market of carbon fiber in sporting goods industry is highly oligopolistic in nature with major market share is dominated by few major players. This is due to the proprietorship monopoly or duopoly over the high manufacturing cost and costs associated with extensive R&D. Examples of few of those companies include TEIJIN and SGL Group, which have near absolute monopoly in major developed markets of North America and Europe. However, in the recent years the completion seems to be growing with market competitors such as Hexel, Cytec Solvay, Mitsubishi Rayon, and Toray Industries coming into the market scenario.
Vendor competition is expected to intensify in the future in most of the developed countries, which would result in more consumption of carbon fibers in sports equipment and lowering of prices. Hence, contributing to the growth of carbon fiber in sports equipment market.
The high modulus, high-strength, and light weight is expected to take the market further ahead for sporting goods. Advanced carbon reinforced fiber provide boundless promise in improving the performance of bats, rods, fishing goods, golf clubs, skis, and more. This fiber also provides the freedom of altering shape of the equipment, along with low tow, and fuzz spreadability, which is critical for its overall performance.
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Market Segmentations and Scope of the Study:
The carbon fiber in sports equipment market share is analysed on the basis of sport type, carbon fiber type, distribution channel and geography. On the basis of sport type, the market is segmented golf, racquet sports, snowboarding & skiing, cycling, hockey, and others. According to the carbon fiber type, the market is classified into PAN-based and pitch-based. By distribution channel the carbon fiber in sports equipment market is segmented into specialty stores, supermarkets/hypermarkets, and online. Geographical breakdown and in-depth analysis of each of the above segments is included for North America, Europe, Asia-Pacific, and Rest of the World.
KEY MARKET SEGMENTS:
- Global Carbon Fiber in Sports Equipment Market – By Sports Type
- Golf
- Racquet Sports
- Snowboarding & Skiing
- Cycling
- Hockey
- Others
- Global Carbon Fiber in Sports Equipment Market – By Carbon Type
- PAN-based
- Pitch-based
- Global Carbon Fiber in Sports Equipment Market – By Distribution Channel
- Specialty Stores
- Supermarkets/Hypermarkets
- Online
- Global Carbon Fiber in Sports Equipment market – By Geography
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Others
- Asia-Pacific
- China
- Japan
- India
- Others
- RoW
- Latin America
- Middle East
- Africa
- North America
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