Epoxy Resin Market in Marine Composites projected to grow at an excellent CAGR of 4.4% in the forecast period (2018-2023)

Stratview Research’s report states about the segment-wise current market condition, and also offers an estimation about future growths. The report has been generated after accumulating data from various authenticated sources such as journals, white papers, fact book, etc. As per the estimation, Epoxy Resin Market in Marine Composites is expected to inflate at impressive CAGR by the forecast period (2018-2023).

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Highlights of the Report:
The global epoxy resin market in marine composites is likely to grow at a healthy CAGR of 4.4% over the next five years. Superior mechanical properties, excellent adhesiveness, improved fatigue resistance, reduced water ingression, weight reduction, and excellent chemical resistance are some of the key drivers of epoxy resins in marine composites. In addition to that, usage of epoxy resins in marine composites also reduces VOC emissions, which, in turn, would help composite part manufacturers to meet the stringent and US and EU standards.

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Market Segments:
Based on the platform type, the global epoxy resin market in marine composites is segmented as boats, yachts, and others. The boat is expected to remain the most dominant market during the forecast period, driven by higher production of boats globally and increasing usage of epoxy composites in high-speed racing boats in order to optimize strength-to-weight ratio of major components, such as hulls.

Based on the application type, the global epoxy resin market in marine composites is segmented as hulls, mast & spreaders, decks, interiors, and others. The mast & spreaders segment is likely to remain the most dominant application type in the epoxy resin market in marine composites during the forecast period. Carbon-epoxy is the most preferred composite materials for making masts and spreaders, whereas glass-polyester is for making hulls and decks.

Based on regions, Europe dominates the global epoxy resin market in marine composites, owing to the presence of a large number of prepreggers, part fabricators, and boat and yacht manufacturers. Selden Masts, Sunseeker International Ltd., Future Fibers, Marstrom Composites AB, Gurit Holding AG, and Hexcel Corporation are some of the major consumers of epoxy composites for the marine industry in the European region.

Market Players:
The supply chain of this market comprises of raw material suppliers, epoxy resin manufacturers, distributors, prepreg manufacturers, composite part fabricators, boat manufacturers, and yacht manufacturers. Major epoxy resin suppliers in marine composites are Aditya Birla Chemicals Ltd., Hexion Inc., Huntsman Corporation, Olin Corporation, Sicomin Epoxy Systems, and Wessex Resin and Adhesives Ltd.

Features of the Report
Here are the key features of the report:
• Strategic Segmentation
• Competitive Analysis
• Strategic Growth Opportunities
• Swot Analysis
• Key Players
• Forecast Analysis & Future Growth

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This release was published on openPR.