According to a new report published by Allied Market Research titled,"Sports Protective Equipment Material Market by Material Type and Product Type: Global Opportunity Analysis and Industry Forecast, 2019 - 2026,"the sports protective equipment material market accounted for revenue of $1,137.4 million in 2018 and is anticipated to generate $1,511.2 million by 2026. The market is projected to experience growth at a CAGR of 3.5% from 2019 to 2026.
Raw materials required for manufacturing sports protective equipment are analyzed in this market. Rise in stringent regulations in various sports regarding safety is one of the significant factors that boost the adoption of sports protective equipment. Rigorous adoption of sports protective equipment correspondingly increases the use of raw material such as gels, plastics, metals, and others.
The sports protective equipment material market is segmented based on material type, product type, and region. By type, the market is classified into foam, pads, gels, metals, plastics, and others. On the basis of product type, it is categorized into helmets and other headgear, pads, guards, chest protectors, and gloves, protective eyewear, and face protection and mouth guards. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Based on material type, the pads segment occupied the highest share of 29.6% in terms of revenue in the overall market in 2018, and is anticipated to continue its dominance throughout the analysis period. This is attributed to its dominant use in several protective equipment that are used in sports such as cricket, hockey, and others. It is used in protection gears such as chest pad, thigh pad, and others.
Based on product type, the pads, guards, chest protectors, and gloves segment accounted for the highest share of 43.9% in terms of revenue in 2018. Pads, guards, chest protectors, & gloves is the leading segment and its extensive penetration in diverse sports has largely contributed to its growth, which is also anticipated to further fuel its growth.
Based on region, Asia-Pacific is expected to grow at the fastest growth rate. This is attributed to factors such as prominence of national & international sports events and the prevalence of sports culture in countries such as Japan and Australia.
The sports protective equipment material market analysis covers in-depth information of the major industry participants. The key player operating and profiled in the market includes Zotefoams plc, Pomona Quality Foam, LLC, Advanced Cellular Technologies (ACT), Mahasach India Pvt. Ltd., GNG Group (GNG), Sanspareils Greenlands (SG), Xenith LLC, (Xenith), and Vista Outdoor Operations LLC. (Vista Outdoor), Cameo Sports Agencies Private Limited, and UVEX SPORTS GmbH & Co. KG (Uvex Sports).
Other players in the value chain of the sports protective equipment material market includes Hans Rubber & Sports (P) Ltd., Tuffy Pad, Douglas Pads, Sanspareils Greenlands, Diversified Gel Limited, Rebel Sport Limited, Jenson, Inc., Sting Sports USA, Aurora Sports Limited, Spirit Sports (HK) Co., Ltd, and others.
Key Findings of the Sports Protective Equipment Material Market:
The sports protective equipment material market is analyzed from 2018 to 2026.
The Asia-Pacific sports protective equipment material market is projected to grow at the highest CAGR of nearly 4.9%, in terms of revenue, during the forecast period.
Based on material type, the foam segment is anticipated to witness highest growth rate of 4.3%, in terms of revenue, during the forecast period.
North America dominated the market with a revenue share of over 37.2% in 2018.
The sports protective equipment material market trends are analyzed across North America, Europe, Asia-Pacific, and LAMEA.
A comprehensive analysis of the factors that drive and restrain the sports protective equipment material market growth is provided.
The qualitative data in this report aims at the market dynamics, trends, and developments in the sports protective equipment material industry. The quantitative in this report provides the sports protective equipment material market size in terms of revenue.
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