LONDON--(EON: Enhanced Online News)--According to the latest market study released by Technavio, the global carbon fiber in sports equipment market is expected to grow at a CAGR of close to 7% during the forecast period.
“The PAN-based carbon fiber segment is also the fastest-growing segment with an expected CAGR of over 7% during the forecast period. The reason behind this dominance is the easy availability of PAN, better structural properties of carbon fibers that are produced from PAN, and their lower cost”
This research report titled ‘Global Carbon Fiber in Sports Equipment Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
Based on raw materials or precursors, carbon fibers can be categorized into three types: PAN-based, pitch-based, and other material-based. In 2016, the PAN-based carbon fiber segment had the largest share of the global market, at 86.50%.
“The PAN-based carbon fiber segment is also the fastest-growing segment with an expected CAGR of over 7% during the forecast period. The reason behind this dominance is the easy availability of PAN, better structural properties of carbon fibers that are produced from PAN, and their lower cost,” says Swapnil Tejveer Sharma, a lead analyst at Technavio for textile, fiber, and composites research.
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Based on application, the report categorizes the global carbon fiber in sports equipment market into the following segments:
- Sports sticks
- Skis and snowboards
The top three revenue generating application segments in the global carbon fiber in sports equipment market are discussed below:
Global carbon fiber in sports sticks market
In 2016, the global carbon fiber in sports sticks segment accounted for 40% of the global carbon fiber in sports equipment market. This is the largest segment of the market, based on application. Sports sticks include golf shafts or clubs, ice hockey sticks, and field hockey sticks. Carbon fibers find extensive use in the production of golf shafts due to their light weight — a property that imparts better swing quality to golf clubs. As carbon fibers are lightweight, their use can decrease the mass of golf shafts.
“Carbon fibers are also used to manufacture ice hockey and field hockey sticks. Ice hockey is a major sport in many North American and European countries like Canada, the US, Russia, and Germany. At present, carbon fibers are less used in field hockey sticks compared with ice hockey sticks, but its demand is growing,” says Swapnil.
Global carbon fiber in rackets market
In 2016, the global carbon fiber in rackets segment accounted for 17% of the global carbon fiber in sports equipment market. The rackets segment includes rackets used for tennis, badminton, racquetball, and squash. The modern day rackets are made from high-modulus graphite or carbon fiber, which keeps the frame of the racket lightweight and stiff so that it can increase racket head stability and impart improved performance.
Carbon fibers impart design flexibility to rackets, and various types of aerodynamic-shaped rackets can be designed to increase the speed at which the rackets can be swung in the air. These materials also render higher string tensions without weakening the frames, which then allows the rackets to strike the ball better.
Global carbon fiber in skis and snowboards market
In 2016, the global carbon fiber in skis and snowboards segment accounted for 14% of the global carbon fiber in sports equipment market. Carbon fiber is much lighter than materials like fiberglass, foam, and plastics, which are generally used to produce skis. This property makes carbon fiber a suitable material to manufacture equipment like touring skis and split boards where weight is given the highest priority.
Ski poles made of carbon fibers are gaining popularity. Snowboards made of carbon fibers have properties such as high rigidity, friction resistance, and flexibility. The weightless feel provided by carbon fibers along with the increased durability make these materials popular among ski and snowboarder manufacturers.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Mitsubishi Rayon
- SGL Group
- Toray Industries
Browse Related Reports:
- Global Carbon Fiber Market 2016-2020
- Global Non-woven Fabrics Market 2016-2020
- Global Technical Textiles Market 2016-2020
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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