- This growth is significantly driven by the rising adoption of polymer matrix composites, which are favored for their high strength, corrosion resistance, and lightweight properties, making them ideal for various marine applications
- Tae use of polymer matrix composites in cruise ships and power boats has been instrumental in enhancing fuel efficiency and reducing maintenance costs, thereby contributing to their increased demand in the marine industry
- Asia-pacific dominates the marine composites market with the largest revenue share of 39.05% in 2024, due to rapidly expanding shipbuilding industry supported by growing international trade and government investments in port infrastructure the region’s focus on lightweight and durable materials boosts demand for marine composites across commercial and defense sector
- North America is expected to be the fastest growing region in the marine composites market during the forecast period due to increasing demand for lightweight, fuel-efficient vessels and advanced materials in recreational and defense sectors the focus on reducing emissions and operational costs
- The cruise ships segment holds the largest market share of 31.40%, driven by the increasing popularity of recreational boating and the demand for high-speed, fuel-efficient vessels
