SAN FRANCISCO, June 15, 2016 /PRNewswire/ --
The global sports composites market is expected to be valued at USD 4.58 billion by 2024, according to a new report by Grand View Research, Inc. The market is expected to exhibit significant growth owing to increasing demand for high-performance materials for manufacturing lightweight as well rigid sporting goods.
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Growing replacement of traditional steel with light weight carbon fiber in golf clubs due to increased carry distance is expected to drive the market over the forecast period. Furthermore, increasing investment by manufacturers for the development of durable composites in manufacturing sports equipment is expected to bolster growth.
Carbon fiber is expected to witness the fastest growth over the forecast period due to its increasing use for manufacturing sports goods such as hockey sticks and rackets. Superior properties such as high tensile strength, impact absorption, durability, and weight reduction of the equipment offered by these materials are likely to drive demand over the projected period.
Epoxy based composites are expected to be the fastest growing resin segment in the market owing to its heat resistant properties which facilitate its use in rackets and snowboards manufacturing. Epoxy resins are widely used along with carbon fiber for manufacturing skis, rackets, and bicycle parts.
Browse full research report with TOC on "Sports Composites Market Analysis By Resin (Epoxy, Polyurethane, Polyamide, Polypropylene), By Material (Carbon, Glass), By Application (Golf Clubs, Hockey Sticks, Rackets, Bicycles, Skis &Snowboards) And Segment Forecasts To 2024" at: http://www.grandviewresearch.com/industry-analysis/sports-composites-market
Further key findings from the report suggest:
Grand View Research has segmented the sports composites market on the basis of resin, material, application and region:
Browse related reports by Grand View Research:
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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