Global Carbon Fiber in Sports Equipment Market 2017-2021

Overview of the global carbon fiber in sports equipment market

Technavio’s market research analyst predicts the global carbon fiber in sports equipment market to grow at a CAGR of almost 7% during the forecast period. Carbon fibers are highly preferred for the manufacture of sports equipment like rackets and sports sticks, majorly due to their exceptional properties such as light weight, improved resistance, high strength to weight ratio, and stiffness.  With the increasing demand for advanced sports equipment, the requirement for carbon fibers to produce such advanced equipment is increasing substantially. Carbon fibers possess properties like fiber yield, consistent sizing content, and processing characteristics like low fuzz or even tow spreadability, which make them suitable for applications in the sports industry. Also, by using carbon fibers, the sports equipment manufacturers can control the tensile strength and the tensile modulus of the high-performance equipment.

Geographically, North America is expected to grow significantly during the forecast period due to the presence of well-developed sports sectors in countries such as the US and Canada. The US and Mexico are the highest producers of carbon fibers in North America. Sports such as golf, ice hockey, baseball, tennis, badminton, lacrosse, and recreational activities such as skiing, snowboarding, and fishing are highly popular in North America, making it the largest revenue contributing region in the global market. Since most consumers in this region prefer using advanced quality sports equipment, it will subsequently increase the use of lightweight and efficient materials such as carbon fibers.

Competitive landscape and key vendors

The global carbon fiber in sports equipment market is consolidated and monopolistic in nature owing to the presence of a limited number of players. Intense competition prevails in the market because of the presence of similar kinds of products like rackets, sports sticks, skis and snowboards, cycles, and fishing rods, which are developed for the same target consumer base. Vendors in the market need to focus on innovative product development, product differentiation, and strategic pricing to increase their customer base and improve their market position. The strong positions held by the leading players will restrict the entry of new players in the market over the predicted period.

Leading vendors in the market are -

• Hexcel
• Mitsubishi Rayon
• SGL Group
• TEIJIN
• Toray Industries

Other prominent vendors in the carbon fiber in sports equipment market include Cytec Solvay Group, DowAksa, Kemrock Industries and Exports, Nippon Graphite Fiber, Taekwang Industrial, Weihei Tuozhan Fiber, ZOLTEK Carbon Fiber, and Zhongfu Shenying Carbon Fiber.

Segmentation by material type and analysis of the carbon fiber in sports equipment market

• PAN-based
• Pitch-based

The PAN-based segment accounted for the largest market portion in 2016 and is expected to register a considerable rise in its market share over the next four years. PAN is the most popular acrylic precursor used in the production of carbon fibers. With a high degree of the directional molecule, high-pitched melting point, lower cost, and suitable mechanical properties, PAN is preferred over other precursors in the manufacture of carbon fibers.  High-strength and high-modulus carbon fibers are made of fibers from PAN precursors with superior properties. The fibers made from PAN are strong and lightweight in nature.

Segmentation by application and analysis of the carbon fiber in sports equipment market

• Sports sticks
• Rackets
• Skis and snowboards

The sports sticks segment dominated the market in 2016 and will account for the highest market share by 2021. With the increasing popularity of sports like golf, hockey, cycling, fishing, and water sports, the demand for carbon fibers for the manufacture of sports sticks will increase, subsequently affecting the market's revenue. Carbon fibers find extensive use in the production of sports sticks due to their light weight property, which helps in imparting better swing quality. Sticks made of carbon fibers combine the feel and performance of wooden sticks with the manufacturing consistency of aluminum sticks.

 Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global carbon fiber in sports equipment market?
• What are the key market trends impacting the growth of the global carbon fiber in sports equipment market?
• What are the challenges to market growth?
• Who are the key vendors in the global carbon fiber in sports equipment market?
• What are the market opportunities and threats faced by the vendors in the global carbon fiber in sports equipment market?
• Trending factors influencing the market shares of APAC, Europe, North America, and ROW.
• What are the key outcomes of the five forces analysis of the global carbon fiber in sports equipment market?

Technavio also offers customization on reports based on specific client requirement.

Related reports:

• Global Carbon Fiber Market 2016-2020
• Global Carbon Fiber Reinforced Plastic (CFRP) Market 2015-2019