Marine Composites Market Trends, Scope, Demand, Opportunity and Forecast by 2025

The global marine composites market grew at a CAGR of around 6% during 2014-2019. Marine composites include a mixture of fibers and resin materials used to form and reinforce numerous marine components. These composites are generally manufactured using polyester, vinyl ester, epoxy, thermoplastic, acrylic, and phenolic resins. Some of the commonly used marine composites include ferrocement, wood fibers, carbon composites, glass-reinforced plastic, aramid fiber, etc. They offer high mechanical strength, improved fuel efficiency, reduced overall weight, enhanced corrosion resistance, and better customizability options for several offshore vessels.

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A significant growth in the maritime industry, along with the rising demand for fuel-efficient marine vessels, is primarily augmenting the market growth. Besides this, the increasing number of private recreational boats and luxury yachts manufactured using marine composites is also bolstering the product demand. Additionally, the growing maritime transportation activities and cargo movement based on the introduction of new marine trade routes are further augmenting the market for marine composites. The emergence of innovative product variants for providing several benefits in marine vessels, including stiffness, vibration damping, water repellency, pressure control, abrasion resistance, etc., will continue to propel the market for marine composites in the coming years.

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Looking forward, IMARC Group expects the global marine composites market to continue its moderate growth during the next five years.

Breakup by Composite Type:

Metal Matrix Composite (MMC)
Ceramic Matrix Composite (CMC)
Polymer Matrix Composite (PMC)
Breakup by Fiber Type:

Glass Fiber
Carbon Fiber
Aramid Fiber
Natural Fiber
Others
Breakup by Resin Type:

Polyester
Vinyl Ester
Epoxy
Thermoplastic
Phenolic
Acrylic
Others
Breakup by Vessel Type:

Power Boats
Sailboats
Cruise Ships
Others
Breakup by Region:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being 3A Composites GmbH (Schweiter Technologies), E. I. Du Pont De Nemours and Company, GMS Composites, Gurit AG, Hexcel Corporation, Hyosung Marine Co. Ltd., Owens Corning, Solvay SA, SGL Carbon SE, Teijin Limited, Zoltek Corporation (Toray Industries), etc.

Key Questions Answered in This Report:

How has the global marine composites market performed so far and how will it perform in the coming years?
What are the key regional markets?
What has been the impact of COVID-19 on the global marine composites market?
What is the breakup of the market based on the composite type?
What is the breakup of the market based on the fiber type?
What is the breakup of the market based on the resin type?
What is the breakup of the market based on the vessel type?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global marine composites market and who are the key players?
What is the degree of competition in the industry?
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This release was published on openPR.