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Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Sports Composites market. Market segmentation includes Fiber Type (Carbon, Glass, and Other Fiber Types); Application (Golf Stick, Bicycle, Rackets, Hockey Stick, Skis & Snowboards, and Other Applications).

Find Out More About Regions, Brands, Dominant, Active & Niche Companies Covered in the Report

24 November 7:18 a.m., Silicon Valley, California - According to the new market research report, the global market for Sports Composites is projected to grow at a CAGR of 5.3% to reach US$3.9 billion by 2027, driven by proactive efforts of manufacturers to provide high-performance, lightweight and durable sports equipment. The global Sports Composites market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Carbon, one of the fiber types analyzed and sized in this study, is forecast to grow at over 5.6% and reach a market size of US$2.2 billion by the end of the analysis period. The United States is forecast to readjust to a 4.7% CAGR. Within Europe, the worst affected by the pandemic, Germany will reach a market size of US$158 million growing at a CAGR of 4.2% over the next couple of years. In addition, over US$222.8 million worth of projected demand in the region will come from Rest of European markets. In Japan, the glass fiber type will reach a market size of US$83.6 million by the close of the analysis period. Facing a global backlash over the coronavirus outbreak and spread, China the world's second largest economy faces economic and geopolitical challenges including economic distancing which can likely put China's monopoly of global supply chains in crisis. The Bicycle application segment in this country against this backdrop will grow at a CAGR of 7.3% over the next couple of years to create an addressable market opportunity worth US$285 million by the year 2027.

The sports composites market globally is anticipated to move ahead on account of rising demand for high-performance, lightweight and reliable sports equipment, once the COVID-19 pandemic related slowdown is arrested with the advent of the vaccine. Sports composites are advanced fibers widely used in sports equipment for enhancing strength, reducing weight and lowering costs. Representing a blend of multiple materials, fiber-reinforced composite materials help manufacturers to achieve design flexibility, make sports equipment lightweight, and ensure easy forming and processing characteristics. The reliability of sports equipment on humans for movement makes sports composites or fiber-reinforced composites a perfect companion of sports equipment owing to their unmatched advantages. With an eye on user safety, various companies are offering sports equipment to safeguard end-users from health hazards. Moreover, increasing focus of people on physical fitness and staying healthy is expected to push sales of sports equipment for physical exercise, presenting new opportunities for participants. Another prominent factor augmenting the market growth is proactive efforts by manufacturers to expand their portfolios with the addition of lightweight and durable products. On the flip side, the expensive nature of composites in comparison to traditional materials like plastics, metals and polymers remains a key concern. Rising physical activity for health reasons is one of the major drivers for composites demand in sports goods. As more and more people play sports, demand for sports goods is bound to rise. In addition, composite sports goods have a higher lifetime and are safer than sports goods made with conventional materials. Even though composite sports goods are expensive compared to regular sports goods, they command high demand owing to their inherent qualities, which make them appealing to multiple sections of the sporting fraternity. Owing to these factors, demand for composite sports goods is expected to increase at a steady rate over the analysis period. The market growth is however restrained by the COVID-19 outbreak that led to suspension and cancellation of various professional leagues and sports events leading to an anticipated negative tide for the year 2020.

Research Methodology
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. The views, opinions and findings presented are based on validated engagements from a total executive pool size of 449. Among this pool, 92 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 18 unique participations, a total of 8 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.

Key Competitors Covered in the Report -
DuPont de Nemours, Inc.
Covestro AG
Amer Sports Corporation
Aldila, Inc.
Entropy Resins, Inc.
Bell Helmets
HEAD Sport GmbH
Hexion, Inc.
Fischer Sports GmbH
Avient Corp.

Segments Covered in the Report -
Fiber Type (Carbon, Glass, Other Fiber Types)
Application (Golf Sticks, Bicycle, Rackets, Hockey Sticks, Skis & Snowboards, Other Applications)

Geographies Analyzed in the Report -
World
USA
Canada
Japan
China
Europe
France
Germany
Italy
UK
Spain
Russia
Rest of Europe
Asia-Pacific
Australia
India
South Korea
Rest of Asia-Pacific
Latin America
Argentina
Brazil
Mexico
Rest of Latin America
Middle East
Iran
Israel
Saudi Arabia
UAE
Rest of Middle East
Africa.

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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world`s only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.

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