The global carbon fiber in sports equipment market size is estimated at USD 247.4 million in 2019 and is expected 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 as stiff. Due to its lightness and incomparable strength, it is very popular in aerospace, military, automotive and sports equipment. The sporting goods market benefits from advances in advanced composite technology at the start of the 20th century. Golf shafts, tennis rackets and carbon fiber bikes are some examples of sports equipment made of carbon fiber. Carbon reinforced composites as well as glass and carbon hybrids replace wood and metal in sporting goods such as fishing rods, bowling balls, skis, windsurf boards, kayak paddles, bicycle handlebars and many others.
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Main 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 recent years, there has been notable activity in the water sports market, especially in the area of paddleboard fins. There have been several concerns for companies for specific customer demands related to performance, with the increasing participation in water sports and for environmental friendliness, many companies have started to come up with inventive composite designs. A notable example has come from Future Fins, the surf equipment manufacturer from Huntington Beach, California, USA. They designed a new fin product to reduce landfill waste.
There has been a growing trend towards personalization of sports equipment, which has prompted the best equipment manufacturers to meet this demand from athletes. For example, Krone Ltd. Dallas, Texas, USA has used the addition of composite in the manufacture of its elite golf clubs.
The main drivers of the market are the lightness, rigidity and strength that carbon fibers benefit from in the manufacture of sports sticks and rackets. In addition, the use of carbon fibers used in the manufacture of golf club shafts is mainly preferred due to their better swing and the overall balance of golf clubs.
The carbon fiber market in the sporting goods industry is highly oligopolistic in nature and a significant market share is dominated by a few large players. This is due to the monopoly or duopoly of ownership over the high manufacturing cost and the costs associated with intensive R&D. Some examples of these companies include TEIJIN and SGL Group, which have an almost absolute monopoly in major developed markets in North America and Europe. However, in recent years completion appears to be expanding with market competitors such as Hexel, Cytec Solvay, Mitsubishi Rayon and Toray Industries entering the market scenario.
Supplier competition is expected to intensify in the future in most developed countries, leading to increased consumption of carbon fibers in sports equipment and lower prices. Hence, contribute to the growth of carbon fiber in the sports equipment market.
The high modulus, high strength and light weight are expected to drive the sporting goods market forward. Advanced carbon fiber reinforced offers unlimited promise of improved performance for snowshoes, rods, fishing tackle, golf clubs, skis, and more. This fiber also offers the freedom to modify the shape of the equipment, as well as low towing and down spreading capacity, which is essential for its overall performance.
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Market segments and scope of the study:
The carbon fiber in sports equipment market share is analyzed on the basis of sports type, carbon fiber type, distribution channel and geography. On the basis of sport type, the market is segmented golf, racket sports, snowboarding and skiing, cycling, hockey, and others. Depending on the type of carbon fiber, the market is classified into PAN and pitch. By distribution channel, the carbon fiber in sports equipment market is segmented into specialty stores, supermarkets / hypermarkets and online. Geographic breakdown and in-depth analysis of each of the above segments are included for North America, Europe, Asia-Pacific and Rest of the World.
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