Marine Composites Market Size| Industry Status and Growth opportunities for Leading Players|Gurit, Owens Corning

 

The marine market is the most deeply penetrated of all end markets served by the composites industry. Yachts, sailboats and other boats use lots of marine composites. For decades, composites have been the material of choice for marine manufacturers to build beautiful and innovative boats, ships, pipes and personal watercraft.
In our report, major marine composite products include glass fiber composites, polymer fiber materials and carbon fiber composites. In this industry, major industry participants are engaged in widening their product portfolio and developing superior quality marine composites to attain sustainability and gain market share.
Highlights
Considering the economic change due to COVID-19 and Russia-Ukraine War Influence, the global Marine Composites market is projected to reach US$ 1923.8 million by 2028 from an estimated US$ 1468.8 million in 2022, at a CAGR of 4.6% during 2023 and 2028.
Global Marine Composites key players include Gurit, Owens Corning, Johns Manville, 3A Composites, etc. Global top four manufacturers hold a share over 20%.
USA is the largest market, with a share over 45%, followed by Europe, and APAC, both have a share over 40 percent

In terms of product, Glass Fiber Reinforced Plastics (GFRPs) is the largest segment, with a share over 80%. And in terms of application, the largest application is Powerboats, followed by Sailboats, Cruise liner, etc.

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Complete study of the global Marine Composites market is carried out by the analysts in this report, taking into consideration key factors like drivers, challenges, recent trends, opportunities, advancements, and competitive landscape. This report offers a clear understanding of the present as well as future scenario of the global Marine Composites industry. Research techniques like PESTLE and Porter's Five Forces analysis have been deployed by the researchers. They have also provided accurate data on Marine Composites production, capacity, price, cost, margin, and revenue to help the players gain a clear understanding of the overall existing and future market situation.

 
Segmental Analysis

The report has classified the global Marine Composites industry into segments including product type and application. Every segment is evaluated based on growth rate and share. Besides, the analysts have studied the potential regions that may prove rewarding for the Marine Composites manufacturers in the coming years. The regional analysis includes reliable predictions on value and volume, thereby helping market players to gain deep insights into the overall Marine Composites industry.

Global Marine Composites Market Segment By Type:

Glass Fiber Reinforced Plastics (GFRPs)
Polymer Fiber Reinforced Plastics (PFRPs)
Carbon Fiber Reinforced Plastics (CFRPs)
Others

Global Marine Composites Market Segment By Application:

Powerboats
Sailboats
Cruise Liner
Others

Competitive Landscape

It is important for every market participant to be familiar with the competitive scenario in the global Marine Composites industry. In order to fulfill the requirements, the industry analysts have evaluated the strategic activities of the competitors to help the key players strengthen their foothold in the market and increase their competitiveness.

Key companies operating in the global Marine Composites market include: Gurit, Owens Corning, Toray, DuPont, Johns Manville, Hexcel Corporation, Cytec Solvay Group, 3A Composites, Future Pipe Industries, SGL Group, National Oilwell Varco, Janicki Industries, Marine Plastics, Jiumei Fiber Glass, PE Composites, Pipe Composites, Aeromarine Industries, Teijin, AGC, Mitsubishi Rayon, PPG, TenCate
 
Key questions answered in the report:

What is the growth potential of the Marine Composites market?
Which product segment will grab a lion's share?
Which regional market will emerge as a frontrunner in the coming years?
Which application segment will grow at a robust rate?
What are the growth opportunities that may emerge in the Marine Composites industry in the years to come?
What are the key challenges that the global Marine Composites market may face in the future?
Which are the leading companies in the global Marine Composites market?
Which are the key trends positively impacting the market growth?
Which are the growth strategies considered by the players to sustain their hold in the global Marine Composites market?
 
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