Global Marine Composites Market Trends, Applications, Analysis, Growth, and Forecast to 2027
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MarketResearch.biz delivers in-depth insights on the global marine composites market in its upcoming report titled, “Global Marine Composites Market Trends, Applications, Analysis, Growth, and Forecast to 2027”. The global marine composites market is estimated to register a CAGR of approximately 5.5% in terms of value during forecast period 2018 to 2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global marine composites market has been segmented on the basis of composite type, vessel type, and region.
This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.
Major marine composite products primarily include glass fiber composite, foam core material, and carbon fiber composite.
Growing adoption of marine composites, owing to rising demand for the high-speed boats is a major factor driving growth of the global marine composites market over the forecast period. In addition, excellent properties of marine composites as compared to others alternatives is another factor expected to propel growth of the global market in the near future. Furthermore, rising demand for marine composites due to design flexibility of vessels is another factor expected to fuel growth of the target market over the forecast period. Rising demand for fuel-efficient vessels is expected to support growth rate of the global marine composites market in the near future.
However, availability of new high strength as well as lightweight alloys is major factor expected to limit growth of the global marine composites market over the forecast period. In addition, high cost associated with the carbon fiber is another factor expected to hamper growth of the global marine composites market over the forecast period.
Currently, market in North America accounts for highest market share in the global marine composites market in terms of revenue. This can be attributed to increasing recreation boating in this region, especially in the US. In addition, presence of leading manufacturers of marine composites in the region is another factor expected to support the growth of the target market over the forecast period. Moreover, growing demand for fuel-efficient vessels is another factor projected to further propel growth of the global marine composites market over the forecast period. The market in Europe and Asia Pacific are also expected to witness significant growth over the forecast period, owing to increasing demand for marine composites, due to increasing demand for high-speed boats is major factors expected to drive growth of the global marine composites market, in the region. Also the market in North America is expected to register a CAGR of X.X% during the forecast period.
Global marine composites market segmentation:
By composite type
- Metal Matrix Composite (MMC)
- Ceramic Matrix Composite (CMC)
- Polymer Matrix Composite (PMC)
By vessel type
- Power Boats
- Cruise Ships
- Cargo Vessels
- Naval Boats
- Jet Boats
- Personal Watercraft
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Owens Corning
- Toray Industries, Inc.
- Cytec Solvay Group
- Teijin Limited
- Mitsubishi Rayon Co. Ltd.
- Hexcel Corporation
- I. Du Pont de Nemours and Company (US)
- Gurit Holding
- SGL Group
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