Market Research Logo

Global Marine Composites Market 2016-2020

Global Marine Composites Market 2016-2020

About Marine Composites

Marine composites are used extensively in the construction of ships and marine structures. These composites have a higher stiffness and strength by weight than most other materials, including metals, such as steel and aluminum. These are used in various parts of a commercial or pleasure craft. The result is a lighter craft that can achieve a higher rate of speed than the same type of craft constructed with aluminum or steel.

Technavio’s analysts forecast the global marine composites market to grow at a CAGR of 6.04% during the period 2016-2020.

Covered in this report

The report covers the present scenario and the growth prospects of the global marine composites market for 2016-2020. To calculate the market size, the report considers the consumption of marine composites products for applications in powerboats, sailboats, cruise ships, and others (personal watercraft and race boats).The market is divided into the following segments based on geography:

  • APAC
  • Europe
  • North America
  • ROW
Technavio's report, Global Marine Composites Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • 3A Composites
  • Cytec
  • DuPont
  • Mitsubishi Rayon (MRC)
  • Owens Corning
Other prominent vendors
  • Gurit
  • Hexcel
  • SGL Group
  • Teijin
  • Toray Industries
Market driver
  • High demand from small boats
  • For a full, detailed list, view our report
Market challenge
  • Disadvantages of marine composites
  • For a full, detailed list, view our report
Market trend
  • Recovery of boat manufacturing industry
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2020 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Marine Composites Market 2016-2020.

Technavio recognizes the following companies as the key players in the global marine composites market: 3A Composites, Cytec, DuPont, Mitsubishi Rayon (MRC), and Owens Corning

Other Prominent Vendors in the market are: Gurit, Hexcel, SGL Group, Teijin, and Toray Industries

Commenting on the report, an analyst from Technavio’s team said: “Boat manufacturing operations were severely affected by the economic recession of 2009-2010. The market recovered substantially from 2013. Globally, the boat manufacturing industry is expected to grow at a CAGR of 4%-5% during the forecast period. Although GFRP polyesters and vinyl esters are the major materials employed by boat manufacturers, the use of CFRP composites is increasing, particularly in the construction of large yachts.”

According to the report, the global demand for small boats is anticipated to grow at a CAGR of 5% during the forecast period. The total value of recreational boat sales was estimated to be $3.7 billion in 2015. It is anticipated that small boats will require more advanced composites, such as CFRP. Small boats are anticipated to see high demand in Europe and North America, particularly the US and the UK.

Further, the report states that there are several disadvantages associated with the use of composites in the marine industry. Raw material and their fabrication cost have become a major challenge in the adoption of composites in the marine industry. These composites are expensive than their metal counterparts due to the high price of carbon fibers, glass fibers, and foam core materials. Furthermore, the tooling and capital costs of composites are higher than the metal counterparts, which increase the overall cost of composites. For instance, the price of steel per autobody is around $950-$980, whereas the price of carbon fiber per autobody is around $2,400-$2,500.



Companies Mentioned

3A Composites, Cytec, DuPont, Mitsubishi Rayon (MRC), Owens Corning, Gurit, Hexcel, SGL Group, Teijin, Toray Industries

  • Executive summary
    • Highlights
  • Scope of the report
    • Market overview
      • Table Global marine composites market
      • Table Global marine composites market by product material
      • Table Global marine composites market by resin type
      • Table Global marine composites market by application
      • Table Global marine composites market by geography
    • Top-vendor offerings
      • Table Product offerings
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
    • Product definition: Composites
    • Scope of use
    • Materials testing for marine composites
    • Outlook
  • Market landscape
    • Market size and forecast
      • Table Global marine composites market 2015-2020 (thousands of metric tons)
      • Table Global marine composites market: CAGR by region 2015-2020
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by product material
    • Global marine composites market by product material
      • Table Global marine composites market by product material 2015 and 2020
    • GFRP in global marine composites market
      • Table GFRP in global marine composites market 2015-2020 (thousands of metric tons)
    • Foam core material in global marine composites market
      • Table Foam core material in global marine composites market 2015-2020 (thousand metric tons)
    • CFRP in global marine composites market
      • Table CFRP in global marine composites market 2015-2020 (thousands of metric tons)
  • Market segmentation by resin type
    • Market outlook
      • Table Global marine composites market by resin type 2015
      • Table Advantages and disadvantages of resin types used for marine composites
  • Market segmentation by application
    • Global marine composites market by application
      • Table Global marine composites market by application 2015 and 2020
    • Global marine composites market in powerboats segment
      • Table Global marine composites market in powerboats segment 2015-2020 (thousands of metric tons)
    • Global marine composites market in cruise ships segment
      • Table Global marine composites market in cruise ships segment 2015-2020 (thousands of metric tons)
      • Table Global cruise industry 2010-2015 ($ billions)
      • Table Market size of global cruise industry by region 2014 ($ billions)
    • Global marine composites market in sailboats segment
      • Table Global marine composites market in sailboats segment 2015-2020 (thousands of metric tons)
    • Global marine composites market in other applications
      • Table Global marine composites market in other applications 2015-2020 (thousands of metric tons)
  • Market segmentation by application
    • Global marine composites market by geography
      • Table Global marine composites market by geography 2015 and 2020
      • Table Global marine composites market by geography 2015-2020 (thousands of metric tons)
    • Marine composites market in North America
      • Table Marine composites market in North America 2015-2020 (thousands of metric tons)
    • Marine composites market in Europe
      • Table Marine composites market in Europe 2015-2020 (thousands of metric tons)
    • Marine composites market in APAC
      • Table Marine composites market in APAC 2015-2020 (thousands of metric tons)
    • Marine composites market in ROW
      • Table Marine composites market in ROW 2015-2020 (thousands of metric tons)
  • Market drivers
    • High demand from small boats
    • Advantages of marine composites over substitutes
    • Emergence of new vendors
    • Rise in technological innovations
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
    • Disadvantages of marine composites
      • Table Comparison of carbon fiber prices with steel prices ($)
    • Lack of standardization
    • Fluctuating raw material prices
      • Table Crude oil prices 2009-2015 ($ per barrel)
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
    • Recovery of boat manufacturing industry
    • Increasing demand from emerging economies
      • Table GDP per capita of developing economies 2015-2020 ($)
    • High degree of vertical integration
  • Vendor landscape
    • Competitive scenario
      • Table Factors that govern competition
      • Table Global marine composites market: Key vendors
    • Major market vendors
      • Table Global marine composites market: Major vendors
    • Other prominent vendors
    • 3A Composites
      • Table 3A Composites: Business segmentation by revenue 2015
      • Table 3A Composites: Geographical segmentation by revenue 2015
    • Cytec Solvay Group
    • DuPont
      • Table DuPont: Segmentation of revenue by business 2015
      • Table DuPont: Geographical segmentation of revenue 2015
    • Mitsubishi Rayon (MRC)
      • Table MRC: Segmentation of revenue by business 2015
    • Owens Corning
      • Table Owens Corning: Segmentation of revenue by business 2015
      • Table Owens Corning: Geographical segmentation by revenue 2015
  • Appendix
    • List of abbreviations
  • Explore Technavio

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report