Global Marine Composites Market, By Composite Type (Metal Matrix Composite, Ceramic Matrix Composite and Polymer Matrix Composite), Fiber Type (Glass Fiber, Carbon Fiber, Natural Fibers and Others), Resin Type (Polyester, Vinyl Ester, Epoxy, Thermoplastic, Phenolic, Acrylic, Others), Vessel Type (Power Boats, Sailboats, Cruise Ships, Cargo Vessels, Naval Boats, Jet Boats, Personal Watercraft and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2027
Market Analysis and Insights: Global Marine Composites Market
Marine composites market is expected to grow at a rate of 6.90% for the forecast period of 2020 to 2027. Marine composites market report analyses the growth due to accelerating demand for high speed vessels.
The demand for high-speed boats is increasingly growing as a result of increased recreational activities, especially in the U.S. The composite's low weight and high impact strength combines to create a high strength-to-weight ratio which is suitable in most of the recreational boats for all types of applications. The low composite weight increases the fuel efficiency, while the high impact strength leads to better boat shear resistance. Lightweight composites are suitable for making various ship parts, such as funnels, bulkheads, decks, watertight doors, pipes, and ducts for ventilation. When used in propellers, the composite offers many advantages including lower cost, lower weight, better noise damping, lower magnetic signature and superior corrosion resistance and the mentioned factors thus drives the marine composites market growth in the forecast period. The high raw material costs and high composite manufacturing expenses boost the total cost of composites resulting in reduced economies of scale which challenges the marine composites market growth.
The continued improvement in the manufacturing process in line with increased carbon fiber demand would reduce long-run carbon fiber prices and restraint’s the marine composites market growth. The recreational boat market is a significant part of the global leisure industry. The leisure boat industry is driven by growing use of recreational boats, increased consumer spending power and a rise in the number of HNWIs (high net worth individuals) and acts as opportunities for marine composites market growth in the above stated forecast period.
This marine composites market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on marine composites market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Marine Composites Market Scope and Market Size
Marine composites market is segmented on the basis of composite type, fiber type, resin type and vessel type. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of composite type, the marine composites market is segmented into metal matrix composite, ceramic matrix composite and polymer matrix composite.
- On the basis of fiber type, the marine composites market is segmented into glass fiber, carbon fiber, natural fibers and others.
- On the basis of resin type, the marine composites market is segmented into polyester, vinyl ester, epoxy, thermoplastic, phenolic, acrylic, and others.
- On the basis of vessel type, the marine composites market is segmented into power boats, sailboats, cruise ships, cargo vessels, naval boats, jet boats, personal watercraft and others.
Marine Composites Market Country Level Analysis
Marine composites market is analysed and market size, volume information is provided by country, composite type, fiber type, resin type and vessel type as referenced above.
The countries covered in the marine composites market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
The North American area is projected to dominate the market for marine composites in terms of volume. This is primarily due to rising recreational boating in this region, particularly in the U.S. Another factor expected to support marine composites market growth in the coming years is the presence of major manufacturers of marine composites in the North America region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Marine Composites Market Share Analysis
Marine composites market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to marine composites market.
The major players covered in the marine composites market report are Owens Corning, SGL Group - The Carbon Company, TORAY INDUSTRIES, INC., Cytec Solvay Group, Mitsubishi Chemical Corporation., TEIJIN LIMITED., Hexcel Corporation, DuPont, HYOSUNG, Gurit (UK), ZOLTEK, Premier Composite Technologies (PCT), PJSC TATNEFT, ADVANCED CUSTOM MANUFACTURING, Aeromarine Industries Ltd, Airborne, Composites One, Hexion, Marine Concepts / Design Concepts, Cytec Solvay Group, Airex AG, Fleming Marine Composites, Multimarine Manufacturing Ltd and ACM&C among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available: Global Marine Composites Market
Data Bridge Market Research is a leader in consulting and advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include production cost analysis, trade route analysis, price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), import export and grey area results data, literature review, consumer analysis and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.