The global carbon fiber in sports equipment market size reached US$ 322.1 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 443.8 Million by 2028, exhibiting a growth rate (CAGR) of 5.51% during 2023-2028. The growing demand for durable and comfortable sports equipment, increasing preferences for carbon fiber bikes among cyclists, and rising utilization to manufacture various rackets represent some of the key factors driving the market.
Carbon fiber, also known as graphite fiber, comprising numerous filaments and it is manufactured through the thermal conversion of organic fibers with low carbon content, such as polyacrylonitrile (PAN). It is cost-effective, strong, and lightweight and provides superior strength and durability. It is also chemical, corrosion, and stress resistant; has temperature tolerance; and does not get affected by wind or water. Besides this, it assists in providing flexibility in designs, increasing performance, and has low-density as compared to other fibers. As it is widely utilized to produce equipment for various sports, such as cricket, badminton, swimming, and cycling, the demand for carbon fiber in sports equipment is rising across the globe.
Carbon Fiber in Sports Equipment Market Trends:
At present, the increasing utilization of carbon fiber to manufacture lightweight, better grip, and unique shape tennis, badminton, and squash rackets worldwide represents one of the key factors contributing to the growth of the market. Additionally, there is a rise in the demand for durable, comfortable, flexible, and high-quality sports equipment among sportspeople around the world. This, coupled with the increasing preference for carbon fiber bikes as compared to aluminum alloy among cyclists, is bolstering the growth of the market. Besides this, the growing application of carbon fiber in sports shoes among cyclists to prevent foot injury and maintain balance on the road is offering a positive market outlook. In addition to this, the increasing adoption of carbon fiber in golf equipment, as it provides better control and stiffness and does not create dents or cracks, is strengthening the growth of the market. Apart from this, the rising demand for carbon fiber in skis and snowboards to produce tougher and lighter carbon fiberboards is offering lucrative growth opportunities to industry investors. Moreover, the increasing employment of carbon fiber in various water sports equipment, as it offers increased tensile strength and withstands high impact, and does not erode with water, is supporting the growth of the market. In line with this, the rising demand for sports equipment among individuals as leisure activities are propelling the growth of the market. Furthermore, the increasing adoption of sports equipment due to rising health consciousness and to maintain physical health and fitness among individuals across the globe is impelling the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global carbon fiber in sports equipment market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on carbon fiber type and application.
Carbon Fiber Type Insights:
The report has provided a detailed breakup and analysis of the carbon fiber in sports equipment market based on the carbon fiber type. This includes PAN-based, pitch-based, and others. According to the report, PAN-based represented the largest segment.
- Sports Sticks
- Skis and Snowboards
A detailed breakup and analysis of the carbon fiber in sports equipment market based on the application has also been provided in the report. This includes sports sticks, rackets, skis and snowboards, and others. According to the report, sports sticks accounted for the largest market share.
- North America
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others) was the largest market for carbon fiber in sports equipment. Some of the factors driving the Asia Pacific carbon fiber in sports equipment market included the growing health consciousness among individuals, increasing employment in water sports equipment, rising preferences for durable and lightweight sports equipment, etc.
The report has also provided a comprehensive analysis of the competitive landscape in the global carbon fiber in sports equipment market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Hexcel Corporation, Mitsubishi Chemical Carbon Fiber and Composites Inc. (Mitsubishi Chemical Group Corporation), Nippon Graphite Fiber Co. Ltd., SGL Carbon SE, Solvay, Taekwang Industrial Co. Ltd., Teijin Limited, Toray Industries Inc., Weihai Guangwei composite material Co. Ltd., Zhongfu Shenying Carbon Fiber Co. Ltd., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Base Year of the Analysis
|Carbon Fiber Types Covered
||PAN-based, Pitch-based, Others
||Sports Sticks, Rackets, Skis and Snowboards, Others
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Hexcel Corporation, Mitsubishi Chemical Carbon Fiber and Composites Inc. (Mitsubishi Chemical Group Corporation), Nippon Graphite Fiber Co. Ltd., SGL Carbon SE, Solvay, Taekwang Industrial Co. Ltd., Teijin Limited, Toray Industries Inc., Weihai Guangwei composite material Co. Ltd., Zhongfu Shenying Carbon Fiber Co. Ltd., etc.
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Key Questions Answered in This Report:
- How has the global carbon fiber in sports equipment market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global carbon fiber in sports equipment market?
- What is the impact of each driver, restraint, and opportunity on the global carbon fiber in sports equipment market?
- What are the key regional markets?
- Which countries represent the most attractive carbon fiber in the sports equipment market?
- What is the breakup of the market based on the carbon fiber type?
- Which is the most attractive carbon fiber type in the carbon fiber in sports equipment market?
- What is the breakup of the market based on the application?
- Which is the most attractive application in the carbon fiber in sports equipment market?
- What is the competitive structure of the global carbon fiber in sports equipment market?
- Who are the key players/companies in the global carbon fiber in sports equipment market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the carbon fiber in sports equipment market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global carbon fiber in sports equipment market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the carbon fiber in sports equipment industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.