Carbon Fiber In Sports Equipment Market

Market Definition

The global Carbon Fiber in Sports Equipment Market size was valued at USD 330 million in 2021 and is expected to reach USD 529.76 million 2030 with a CAGR of 5.4% from 2022 to 2030. Carbon fibers are polymers that are mostly 5 to 10 micrometers in diameter and are made up of 90% or more of carbon.

These carbons are also known as graphite fiber and finds wide applications in sports equipment manufacturing. These materials are highly used primarily due to their advanced properties such as light weight, improved resistance, high strength to weight ratio, and stiffness. The carbon fiber in sports can be used for ergonomic designing of sports equipment and can significantly contribute in improving the experience of the athlete as it causes less strain to the muscles while playing.

Market Dynamics and Trends

The demand of carbon fiber in sports equipment is increasing due to several properties of carbon fibers such as high stiffness, tensile strength, and lower weight along with higher chemical resistances that increases the longevity of sports equipment. Also, application of carbon fiber in manufacture of sports equipment such as bicycle frames and baseball bats due to high temperature tolerance and low thermal expansion is expected to further boost the market growth.

Moreover, increasing interest related to water sports in several countries such as Canada, Maldives and Australia result in increase in demand for Kayaks. These Kayaks are manufactured using carbon fiber that in turn boost the growth of the carbon fiber in sports equipment market during the forecast period.

However, surge in the prices of carbon fiber and lack of skilled labor force are some of the factors restraining the growth of the market during the forecast period. On the other hand, increasing investments in development of low-cost coal-based carbon fibers and R&D activities associated with production of carbon fiber such as plasma oxidation technology are expected to create ample growth opportunities in the upcoming years. 

Market Segmentations and Scope of the Study:

The carbon fiber in sports equipment market is segmented on the basis of sports type, carbon fiber, distribution channel, and geography. On the basis of sports type, the market is classified into golf, racquet sports, snowboarding and skiing, cycling, hockey, and others. On the basis of carbon fiber type, the market is classified into PAN-based and Pitch-based. On the basis of distribution channels, the market is classified into specialty stores, supermarkets/hypermarkets, and online. Geographic breakdown and analysis of each of the aforesaid segments include regions comprising of North America, Europe, Asia- Pacific, and RoW.

Geographical Analysis

Asia-Pacific holds the lion share of carbon fiber in sports equipment market during the forecast period. This is attributed to factors such as increasing preference towards quality sports equipment along with several product launches due to rising demand of tennis and badminton racquets with lower weight in APAC regions.

For instance, in January 2022, Head launched a tennis racquet named as ‘Boom’. This racquet was Head’s lightest, thinnest and most demanding model that had 11.6 oz. strung, with a 98 square-inch head and a mid-320s swing weight. Also, demand of hockey sticks has increased due to rise in hockey tournament in countries such as India, Japan and China that in turn boost the growth of the carbon fiber in sports equipment market in this region.

Moreover, North America is expected to show a steady rise in the carbon fiber sports equipment market due to well-developed sports opportunities in countries such as USA and Canada. Also, rising use of carbon fibers in the production of golf bats as 25 million people living in North America play golf frequently along with carbon fiber’s application in the manufacture of snowboards to increase their durability are expected to drive the growth of the market. In addition, the increased use of carbon fiber in the production of soles for sports shoes is also expected to drive the growth of the carbon fiber in sports equipment market during the forecast period.

Competitive Landscape

The carbon fiber in sports equipment market comprises of various market players such as Hexcel, SGL Group, TEIJIN, Toray Industries, Cytec Solvay Group, Dowaksa, Reliance Industries, Nippon Graphite Fiber, Weihei Tuozhan Fiber, and ZOLTEK Carbon Fiber. These market players are adopting various joint venture strategies and launching new products across various regions to maintain their dominance in the carbon fiber in sports equipment market. 

For instance, in June 2021, Hexcel introduced a high-quality industrial prepreg made with aircraft C-UD tape technology and HexPly M77 Snap-Cure automotive-grade epoxy. These cutting-edge Hexcel materials are extensively employed in a variety of top recreational sports equipment, such as skis, golf shafts, and tennis racquets, among others.

Also, in Feb.2021, Teijin Ltd. launched Tenax PW (power series) and Tenax BM (beam series) brands of carbon fiber intermediate materials for sports applications. Tenax PW is a unique aircraft-quality material that enhances power and speed due to its remarkable durability and toughness. Tenax BM is another highly advanced material which has high rigidity, straightness, operability, and stability that makes it ideal for applications requiring flexibility and resistance to thermal expansion. Tenax BM also offers superior vibration damping (suppression and absorption), achieving damping effects four times greater than Teijin’s standard carbon fiber prepregs.

Key Benefits

• The carbon fiber in sports equipment market report provides the quantitative analysis of the current market and estimations through 2022-2030 that assists in identifying the prevailing market opportunities to capitalize on.

• The study comprises a deep dive analysis of the carbon fiber in sports equipment market trend including the current and future trends for depicting the prevalent investment pockets in the market.

• The information related to key drivers, restraints, and opportunities and their impact on the carbon fiber in sports equipment market is provided in the report.

• The competitive analysis of the market players along with their market share in the carbon fiber in sports equipment market.

• The SWOT analysis and Porter’s Five Forces model is elaborated in the study.

• Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.

Carbon Fiber in Sports Equipment Market Key Segments

By Sports Type

• Golf

• Racquet Sports

• Snowboarding & Skiing

• Cycling

• Hockey

• Others

By Carbon Fiber Type

• PAN-based

• Pitch-based

By Distribution Channel

• Specialty Stores

• Supermarkets/Hypermarkets

• Online

By Geography

• North America

  • U.S

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Rest of Europe

• Asia-Pacific

  • China

  • India

  • Japan

  • South Korea

  • Australia

  • Rest of Asia-Pacific

• RoW

  • UAE

  • Saudi Arabia

  • South Africa

  • Brazil

  • Remaining Countries

Key Players

• Hexcel

• SGL Group

• TEIJIN

• Toray Industries

• Cytec Solvay Group

• DowAksa

• Reliance Industries

• Nippon Graphite Fiber

• Weihei Tuozhan Fiber

• ZOLTEK Carbon Fiber

REPORT SCOPE AND SEGMENTATION:

Parameters	Details
Analysis Period	2021–2030
Base Year Considered	2021
Forecast Period	2022–2030
Market Size Estimation	Million (USD)
Market Segmentation	By Sports Type (Golf, Racquet Sports, Snowboarding & Skiing, Cycling, Hockey, and Others) by Carbon Fiber Type (PAN-based and Pitch-based), by Distribution Channel (Specialty Stores, Supermarkets/Hypermarkets, and Online)
Geographical Segmentation	North America (U.S., Canada, Mexico) Europe (UK, Germany, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, Rest of Asia-Pacific), Rest of the World (UAE, Saudi Arabia, South Africa, Brazil, Remaining countries)
Companies Profiled	Hexcel, SGL Group, TEIJIN, Toray Industries, Cytec Solvay Group, Dowaksa, Reliance Industries, Nippon Graphite Fiber, Weihei Tuozhan Fiber, and ZOLTEK Carbon Fiber.