The global carbon fiber market in sporting good size was valued at US$ 294 million in 2023, and is projected to reach US$ 716 million by 2030, witnessing a market growth CAGR of 3.1% from 2023 to 2030, according to an analysis by Stratview Research.
Stratview Research, a global market research firm has launched a report on the global carbon fiber market in sporting goods which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
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Market Statistics:
Market Size in 2023: US$ 294 Million
Market Size in 2030: US$ 716 Million
Growth (CAGR): 3.1% during 2024-2030
Leading Application Type: Fishing rods
Leading Modulus Type: Standard modulus
Leading Usage Type: Prepreg
Leading Process Type: roll wrapping
Leading Region: Asia-Pacific
Forecast Period: 2024-2030
Trend Period: 2018-2022
Base Year: 2023
Number of Segments Covered: 5
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20
Segment Insights & Market Share Analysis of the Carbon Fiber Market in sporting Goods:
The global carbon fiber market in sporting goods is segmented based on application type, modulus type, usage type, process type and region.
Based on Application type –
- The carbon fiber market in sporting goods is segmented into fishing rods, golf shafts, bicycles, racquets, hockey sticks, ski poles, and others.
- Carbon fiber fishing rods are exceptionally lightweight, reduce fatigue, and offer precise control. Its incredible strength and stiffness enhance sensitivity; and also provide durability, corrosion resistance, and lower damage from impacts or bending, ensuring they can withstand the hardships of fishing in harsh environments.
- The fastest growth for carbon fiber for bicycles is mainly due to the increasing use of carbon fiber bicycles in Europe and North America. Frames and forks are the application areas.
Based on the Modulus type -
- The market is segmented into roll wrapping, bladder molding, and others.
- The dominance of the roll wrapping process is due to the process helping achieve uniform thickness and distribution of carbon fibers throughout the structure, ensuring consistent performance characteristics, and the process is a relatively cost-effective method compared to other manufacturing processes.
- Additionally, the roll-wrapping process can be easily automated, leading to higher production efficiency and lower labor costs. It is used to manufacture various sporting equipment like fishing rods, golf shafts, and ski poles.
Based on the Usage type –
Based on the Process type –
- The market is segmented into roll wrapping, bladder molding, and others.
- The dominance of the roll wrapping process is due to the process helping achieve uniform thickness and distribution of carbon fibers throughout the structure, ensuring consistent performance characteristics, and the process is a relatively cost-effective method compared to other manufacturing processes.
- Additionally, the roll-wrapping process can be easily automated, leading to higher production efficiency and lower labor costs. It is used to manufacture various sporting equipment like fishing rods, golf shafts, and ski poles.
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Which Region Shows the Most Promising Growth Forecast and Opportunity?
“Asia-Pacific is expected to remain the largest market for carbon fibers in sporting goods during the forecast period”.
- The Asia-Pacific region dominates the carbon fiber demand in sporting goods, mainly driven by China, which is expected to remain the largest carbon sporting goods manufacturer during the forecast period.
- China has emerged as the largest manufacturer of carbon fiber sporting equipment due to several factors. The country has heavily invested in advanced manufacturing technologies, allowing for efficient production processes.
- In addition to that, the competitive cost of production in China has made it an attractive destination for outsourcing manufacturing.
Carbon Fiber Market in Sporting Goods Drivers:
Some of the key drivers listed in the report are given below.
- The sporting goods market is fueled by athletes' desire for peak performance, league regulations on equipment specifications, rapidly accelerating sponsorship deals, and a huge surge in media coverage and spectator interest.
- Its key advantage of carbon fiber lies in the exceptional strength-to-weight ratio, allowing manufacturers to build sporting goods that are extremely light yet powerful.
- The market dynamics are further influenced by the growing popularity of competitive sports and the increasing focus on professional athletes' performance
- This results in continuous innovation and new applications of carbon fibers by manufacturers, pushing the limits of design and propelling the market forward.
Competitive Landscape: Top Companies in the Carbon Fiber in Sporting Goods:
The market is fragmented with the presence of over 100 players. Most of the major players compete in some of the governing factors including price, service offerings, regional presence, etc. The following are the key players in the carbon fiber market in sporting goods.
Here is the list of the Top Players (Based on Dominance)
- Toray Industries
- Mitsubishi Chemical Corporation
- Teijin Limited
- Zhongfu Shenying
- Guangwei Composite Co., Ltd.
- Jilin Carbon Valley
- Hexcel Corporation
- SGL Carbon
- Hyosung Group
Note: The above list does not necessarily include all the top players in the market.
What Unique Insights Does This Report Offer?
This report provides comprehensive insights into the market, answering critical questions like
- How big is the sales opportunity?
- Which regions offer the best sales opportunities?
- Which are the most attractive market segments?
- Which are the top players and their market positioning?
- How complex is the business environment?
- What are the factors affecting the market?
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