Press release
Marine composite market is expected to be worth more than USD 4.8 million by 2020
marine composite market, global marine composites market, composite marine industry, marine composite market analysis, marine comp
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The global marine composite market is expected to be worth more than USD 4.8 million by 2020. The marine composites are widely used in hulls, decks, seats, ski boats, racing boats, masts and other structural components of recreational vessels.
The marine composites market is growing owing to the large demand for sailboats and yachts in the leisure industry. The growth of the super-rich (High Net Worth Individuals- HNWI) and the expenditure on luxury shopping will see a rise in this sector The industry is, thus, forecasted to rise in the coming years. Furthermore, the emerging technological advancements in the field of bio-plastics and autoclave prepregs is also steering this market.
The report gives market estimation by product types into glass fiber composites, carbon fiber composites, and foam core materials. The glass fiber composites had high demand till 2012 since they were cheaper compared to carbon fiber composites. Carbon fiber composites are currently being used in sail boats, jet boats, cruise ships, powerboats.
Amongst the resins - unsaturated polyesters are likely to be used in this industry. These materials are used in various parts of maritime vessel like interiors to furniture. Resins are most likely to be used in smaller boats and the glass fiber and carbon fiber composites would be used mainly in larger recreational vessels. The key factor is to make light weight hulls and corrosion resistant.
The key regions with market opportunities in the new boat building industries are China, South Korea, and other oceanic regions. Asia-Pacific has the highest growth rate for the marine composite market; although Europe has much potential but due to the high costs of styrene there has been much decline in the region.
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Market Dynamics of the Global Marine Composite Market:
Drivers:
Innovation in material technology
Rising expense of consumers
Demand for new and improved speed boats
Fuel efficiency
Challenges:
Stringent regulations regarding styrene in Europe
High cost of manufacturing of carbon fiber composites
Recycling and reparability issues
The report segments the market on the basis of geography into the Asia-Pacific, North America, Europe, South America, and the Middle East and Africa. The market is also segmented by product into cruise ships, sail boats, power boats etc. The power boats segment has huge scope in this sector.
The report also provides the competitive landscape on the most recent mergers & joint ventures and the profiles the key players dominating the marine composite industry. The key players are:
Advanced Composites Manufacturing Centre
Advanced Custom Manufacturing
Aeromarine Industries Ltd.
Base Group
BM Composites
Brodrene AA
Cytec Industries
Du Pont
Groupe Finot
Janicki Industries
Marine Concepts
Marine Plastics Ltd.
MouldCAM
NestorSales
PEC
Sea-Cubed Composites
Siemens
Key Deliverables in the Study:
Analysis for the global marine composite market, with region specific assessments and competition analysis on a global and regional scale.
Market definition along with the identification of key drivers and restraints.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their market share.
Identification and analysis of the macro and micro factors that affect the global marine composite market on both global and regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
Insights on the major countries/regions where this industry is blooming and to also identify the regions that are still untapped
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