Marine Composites Market is forecast to grow at a CAGR of 5.3% for the forecast period of 2018 to 2025 to an estimated value of USD 5.44 billion by 2025, from USD 3.60 billion in 2017 with factors such as high costs of carbon fibers involved in the manufacturing along with danger of substitutes in the technology will restrict the growth of the market.
Moreover, the technological development and rising leisure boat market will further boost various new opportunities that will fuel the growth of the marine composites market in the above mentioned forecast period.
According to Data Bridge Market Research the marine composites market in developing regions is witnessing a growth in terms of its adoption rate, due to the rising demand for high speed vessels. Rising need for fuel efficient vessels and technological advancement in the maritime logistics are also anticipated to enhance the growth of marine composites market in the forecast period of 2018 to 2025.
Now the question is which are the regions that marine composites market players should target? Data Bridge Market Research has forecasted large growth in North America owing to growing recreation boating in this region.
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Marine composites market is segmented on the basis of countries into U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa.
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Key Market Competitors Covered in the Report
Above are the key players covered in the report, to know about more and exhaustive list of marine composites companies, contact us https://www.databridgemarketresearch.com/toc/?dbmr=global-marine-composites-market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecast using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global Vs Regional Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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Global Marine Composites Market – Industry Trends and Forecast to 2027