Global Carbon Fiber in Sports Equipment Market 2017-2021
About Carbon Fibre
Carbon fibers (CF) are made up of almost 90% or more of carbon. Each carbon fiber filament has a diameter of 5-15 micron. Numerous parallel filaments are naturally and collectively grouped, and this is referred to as a carbon fiber tow. The term tow count indicates the number of filaments that are present per tow and is frequently expressed with nomenclature like 24K where the letter K denotes the number 1,000.
Technavio’s analysts forecast the global carbon fibre in sports equipment market to grow at a CAGR of 6.92% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global carbon fibre in sports equipment market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of sports equipment such as sports sticks, rackets, skis and snowboards, and other sports equipment such as fishing rods, bicycles, cricket bats, and paddles and windsurfing masts that are manufactured using carbon fibers.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Carbon Fibre In Sports Equipment Market 2017-2021
Technavio recognizes the following companies as the key players in the global carbon fibre in sports equipment market: Hexcel, Mitsubishi Rayon, SGL Group, TEIJIN, and Toray Industries.
Other prominent vendors in the market are: Cytec Solvay Group, DowAksa, Kemrock Industries and Exports, Nippon Graphite Fiber, Taekwang Industrial, Weihei Tuozhan Fiber, ZOLTEK Carbon Fiber, and Zhongfu Shenying Carbon Fiber.
Commenting on the report, an analyst from Technavio’s team said: “One of latest trends in the market is probability of the market becoming oligopolistic. The market is highly oligopolistic in nature, with some sections witnessing monopoly or duopoly because of proprietorship over the manufacturing technology and high costs associated with R&D. TEIJIN and SGL Group, which have been enjoying an absolute monopoly in most markets in leading countries because of the strong brand names, are facing growing competition from players such as Cytec Solvay, Hexcel, Mitsubishi Rayon, and Toray Industries. Vendors operating in this market and sports equipment manufacturers play a major role in the growth of the market. The competition is likely to intensify in most countries and this is expected to be beneficial for end-consumers, thereby contributing to the market's growth.”
According to the report, one of the primary drivers in the market is growing use of lightweight carbon fibers in the manufacture of sports sticks and rackets. Carbon fibers are highly preferred for the manufacture of sports equipment like sports sticks and rackets, primarily due to their advanced properties such as light weight, high strength to weight ratio, improved resistance, and stiffness. Carbon fibers are used extensively for the manufacture of golf club shafts, as these materials render a better swing to golf clubs. As carbon fibers are lightweight, their use can decrease the mass of golf shafts — a property that allows a club designer to increase the head mass without increasing the mass of the overall club. As golf clubs made of carbon fibers have lower weight, they can be used to hit golf balls at a higher initial velocity and for a longer distance due to damping characteristics. As such, graphite golf shafts are more preferred than steel shafts due to the versatility of carbon fibers.
Further, the report states that one major challenge in the market is high production costs. The R&D and manufacturing costs of carbon fibers are high (almost 8 times than that of steel). The high production cost of carbon fibers is of particular concern as it increases the average price of the material, which ranges between $40 and $50 per pound. A minor share of the increased procurement costs is absorbed by vendors, while the major share is translated to higher prices for consumers. Hence, this is foreseen to be a challenge in the future. Moreover, the production of larger volumes of these products (which would average out production costs and hence, result in lower product prices) could become a challenge with increasing demand.
Hexcel, Mitsubishi Rayon, SGL Group, TEIJIN, Toray Industries, Cytec Solvay Group, DowAksa, Kemrock Industries and Exports, Nippon Graphite Fiber, Taekwang Industrial, Weihei Tuozhan Fiber, ZOLTEK Carbon Fiber, Zhongfu Shenying Carbon Fiber.
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