Marine Composite Market: Segmented By Application And Geography Trends, Growth And Forecasts 2023

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Target Audience of Marine Composite Market: Manufacturer / Potential Investors, Traders, Distributors, Wholesalers, Retailers, Importers and Exporters, Association and government bodies.

Marine Composite Market Report in 360MarketUpdates.com

Marine Composite Market Report provides key statistics on the market status of the Marine Composite Key-players/Manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the Industry

The market for marine composites is expected to register significant growth during the forecast period, 2018 to 2023.This significant growth is the result of increasing production of leisure boats to cater to the flourishing global tourism industry.

Increasing Production of Leisure Boats

The leisure boat industry includes runabouts, towboats, fishing boats, sail boats, pontoon boats, stern drive power boats, jet boats, personal watercraft, propulsion systems, and cabin cruisers. There has been a growing demand for leisure boats around the world in the recent years, which, in turn, ignites the demand for marine composites in the leisure boats industry. The prospects of the global recreational boating industry look promising, with opportunities in the inboard and stern drive, outboard, and sailboat. The marine composites market is anticipated to grow significantly in the future, owing to the tremendous growth of the tourism industry worldwide.

Glass Fiber Reinforced Composites Segment to Dominate the Market

Marine composites are one of the first significant application segments of glass fiber reinforced composites. Fiberglass has been the common material for recreational boats and yachts for many years due to the good environmental resistance, better damage tolerance for impact loading, high specific strength, and stiffness. Since carbon fiber is too expensive for the application of large structures, glass fiber presents the most commercially viable solution for marine applications. As of 2017, the glass fiber reinforced composites segment accounted for the largest share of the global marine composite market.

Asia-Pacific to Dominate the Market Growth

The emerging boat-building industry in Asia-Pacific (Mainland China, India, and South Korea) is expected to fuel the demand for marine composites in the future. The increasing scope of out of autoclave prepreg and the bio-based composites market are expected to open new opportunities for marine composites during the forecast period. North America accounted for the largest share of the global marine composite market in 2017.

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Major companies covered in this Report:

  • ACM&C
  • Advanced Custom Manufacturng
  • Aeromarine Industries Ltd
  • Airex AG
  • AMRC Sheffield
  • Branagh Marine Composites
  • Brodene AA
  • Composites One
  • Cytec Solvay Group
  • Gurit
  • Hexion
  • Janicki Industries
  • Inc.
  • Marine Concepts
  • Marine Plastics Innovations
  • Inc.
  • Mitsubishi Chemical Holdings Corporation
  • MouldCAM
  • Owens Corning
  • Owens Corning
  • PEC
  • SGL Group The Carbon Company
  • Siemens AG
  • Teijin Limited
  • Toray Industries
  • Inc.

Reasons to Purchase the ReportIdentify the current and future prospects of the global marine composite market in the developed and emerging marketsAnalyzing various perspectives of the market with the help of Porter’s five forces analysisInformation of the segment that is expected to dominate the marketIdentify the region that is expected to witness fastest growth during the forecast periodIdentify the latest developments, market shares, and strategies employed by the major market players3 month analyst support, along with the Market Estimation sheet (in Excel)

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This Marine Composite market report offers an overview of the market trends, drivers, and barriers with respect to the market. A detailed analysis of key players, along with key growth strategies adopted by them is also covered in this report on Marine Composite market.