02 December 2005
02 December 2005
Consumption of most types of advanced materials, particularly composites, is projected to grow relatively slowly in the high performance sports products market over the next 5 years
According to a soon-to-be-released technical market research report, Materials and Devices for High Performance Sports Products from Business Communications Co, the total consumption of advanced materials and devices of the sports covered is estimated to be $703 million in 2005 and is expected to rise at an average annual growth rate (AAGR) of 3.0% to $816 million in 2010.
Advanced materials (including metals/alloys, ceramics, polymers, composites, and nanomaterials) will account for over 98% of the total market throughout the forecast period. Consumption of most types of advanced materials, particularly composites, is projected to grow relatively slowly. This is mainly the result of saturation in some key markets such as tennis equipment, which have a relatively long history of using composites and other advanced materials.
The main exception is nanomaterials, which should experience strong growth (over 100% AAGR) over the rest of the decade. Golf- and tennis-related markets for nanomaterials are expected to be particularly strong.
The largest sports in terms of their consumption of advanced materials and devices are cycling, boating, golf, fishing and hiking/camping. Together these five sports accounted for nearly three-quarters of the market for advanced materials and devices in sports equipment in 2004 and a projected 69% in 2010.
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The next Marine-i Discovery Room event will shine a spotlight on composite materials and the vital role they will play in the marine industry in future.
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