Market Research Logo

Marine Composites Market by Type (Metal Matrix, Ceramic Matrix, and Polymer Matrix (Fiber Type (Glass, Cabon), Resin Type (Polyester, Epoxy))), Vessel Type (Power Boats, Sailboats, Cruise Ships), and Region - Global Forecast to 2023

Marine Composites Market by Type (Metal Matrix, Ceramic Matrix, and Polymer Matrix (Fiber Type (Glass, Cabon), Resin Type (Polyester, Epoxy))), Vessel Type (Power Boats, Sailboats, Cruise Ships), and Region - Global Forecast to 2023
Marine composites market projected to grow at a CAGR of 5.6% during forecast period
The marine composites market is estimated at USD 3.83 billion in 2018 and is projected to reach USD 5.04 billion by 2023, at a CAGR of 5.6% during the forecast period. The major factors driving the growth of the market are the increase in the use of marine composites due to the need for corrosion resistant and lightweight materials, growing recreation boating market, and increasing expending power of people. However, the high prices of carbon fiber and difficulty in recyclability of marine composites may restrain the growth of the market.

Carbon fiber is projected to be the fastest-growing fiber type of the polymer matrix composites market during the forecast period
The carbon fiber segment is expected to lead the polymer matrix composites market owing to its superior properties and increasing use in the boat building industry. Carbon fiber based marine composites are used for the manufacture of high-speed boats. Growth is anticipated by decreasing the cost of carbon fiber composite processing technologies (resulting in low cost of carbon fiber composites), and better properties offered by carbon fiber composites, such as lightweight and high strength to weight ratio. Some of the major applications of carbon fiber composites include furniture in luxury yachts, hulls, and masts of racing yachts, keels, decks, transverse frames, rigs, bulkheads, and longitudinal stringers.

Polyester resin projected to be the largest resin type of polymer matrix composites market during forecast period
The polyester resin segment is projected to lead the marine composites market during the forecast period. The high market share of polyester resin is due to its better properties and lower prices than other resins. Ever since its development, polyester resin has dominated the global marine composites market. In addition, these are available at a lower price than epoxy and vinyl ester resins.

Power Boats projected to be the largest vessel type of the marine composites market during forecast period
The power boat segment is projected to lead the marine composites market during the forecast period owing to the increasing leisure market and recreational boating in North America and Europe. Ever since their development, the power boats industry has been the main end user of marine composites. The growing recreation boating market and increasing expending power of people are expected to drive the market in the coming years.

North America projected to dominate the marine composites market during forecast period
The North American region is projected to dominate the marine composites market between 2018 and 2023 due to the presence of a large number of power boat manufacturers. The demand for recreational boats is the highest in North America due to high per capita incomes in the region. The strong economy continues to bolster new boat sales and boating expenditures in the region.

This study has been validated through primaries conducted with various industry experts, globally. These primary sources have been divided into the following 3 categories:
By Company Type: Tier 1 — 20%, Tier 2 — 55%, and Tier 3 — 25%
By Designation: C Level — 50%, Director Level — 25%, and Others — 25%
By Region: North America — 25%, Europe — 30%, Asia Pacific — 35%, MEA — 5%, and Latin America — 5%

This report also provides a comprehensive analysis of the companies listed below:
Toray Industries Inc. (Japan)
Mitsubishi Rayon Co. Ltd. (Japan)
Hexcel Corporation (US)
Owens Corning (US)
Cytec Solvay Group (US)
E. I. Du Pont de Nemours and Company (US)
Gurit Holding (Switzerland)
SGL Group (Germany)
Teijin Limited (Japan)
Hyosung (South Korea)

Research Coverage
This report covers the market for marine composites and forecasts the market size until 2023. The report includes market segmentation by composites type (metal matrix composite, ceramic matrix composite, polymer matrix composite); polymer matrix composite by fiber type (glass fiber, carbon fiber, others); polymer matrix composite by resin type (polyester, vinyl ester, epoxy, thermoplastic, others); vessel type (power boats, sailboats, cruise ships, others); and region (North America, Europe, APAC, Latin America, MEA). Porter’s Five Forces analysis, along with drivers, restraints, challenges, and opportunities have also been discussed in the report. The report provides company profiles and competitive strategies adopted by major players in the marine composites market.

Key Benefits of Buying the Report
The report will help market leaders/new entrants in this market in the following ways:
1. The report segments the marine composites market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across different verticals and regions.

2. The report helps stakeholders understand the pulse of the market and provides information on key market drivers, restraints, challenges, and opportunities.

3. The report will help stakeholders better understand competitors and gain insights to better their positions in the business. The competitive landscape section includes new product launches, expansions, agreements, and acquisitions strategies adopted by players.


  • INTRODUCTION
    • OBJECTIVES OF THE STUDY
    • MARKET DEFINITION
    • MARKET SCOPE
      • YEARS CONSIDERED FOR THE STUDY
    • CURRENCY
    • UNIT CONSIDERED
    • LIMITATIONS
    • STAKEHOLDERS
  • RESEARCH METHODOLOGY
    • RESEARCH DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • MARKET SIZE ESTIMATION
      • BOTTOM-UP APPROACH
      • TOP-DOWN APPROACH
    • DATA TRIANGULATION
    • ASSUMPTIONS
  • EXECUTIVE SUMMARY
    • Table MARINE COMPOSITES MARKET SIZE, 2016–2023
  • PREMIUM INSIGHTS
    • ATTRACTIVE OPPORTUNITIES IN THE MARINE COMPOSITES MARKET
    • MARINE COMPOSITES MARKET, BY COMPOSITE TYPE
    • POLYMER MATRIX COMPOSITES MARKET, BY FIBER TYPE
    • POLYMER MATRIX COMPOSITES MARKET, BY RESIN TYPE
    • MARINE COMPOSITES MARKET, BY VESSEL TYPE AND REGION
    • MARINE COMPOSITES MARKET, BY COUNTRY
    • MARINE COMPOSITES MARKET SIZE, BY VESSEL TYPE
  • MARKET OVERVIEW
    • INTRODUCTION
    • MARKET DYNAMICS
      • DRIVERS
      • RESTRAINTS
      • OPPORTUNITIES
      • CHALLENGES
    • PORTER'S FIVE FORCES ANALYSIS
      • THREAT OF SUBSTITUTES
      • BARGAINING POWER OF SUPPLIERS
      • BARGAINING POWER OF BUYERS
      • THREAT OF NEW ENTRANTS
      • INTENSITY OF COMPETITIVE RIVALRY
  • MARINE COMPOSITES MARKET, BY COMPOSITE TYPE
    • INTRODUCTION
    • METAL MATRIX COMPOSITES (MMC)
    • CERAMIC MATRIX COMPOSITES (CMC)
    • POLYMER MATRIX COMPOSITES (PMC)
      • Table MARINE COMPOSITES MARKET SIZE, BY COMPOSITE TYPE, 2016–2023 (USD MILLION)
      • Table MARINE COMPOSITES MARKET SIZE, BY COMPOSITE TYPE, 2016–2023 (KILOTON)
  • MARINE COMPOSITES MARKET, POLYMER MATRIX COMPOSITE BY TYPE
    • INTRODUCTION
    • POLYMER MATRIX COMPOSITES MARKET, BY FIBER TYPE
      • Table POLYMER MATRIX COMPOSITES MARKET SIZE, BY FIBER TYPE, 2016–2023 (USD MILLION)
      • Table POLYMER MATRIX COMPOSITES MARKET SIZE, BY FIBER TYPE, 2016–2023 (KILOTON)
      • GLASS FIBER MARINE COMPOSITES
        • Table GLASS FIBER MARINE COMPOSITES MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
        • Table GLASS FIBER MARINE COMPOSITES MARKET SIZE, BY REGION, 2016–2023 (KILOTON)
      • CARBON FIBER MARINE COMPOSITES
        • Table CARBON FIBER MARINE COMPOSITES MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
        • Table CARBON FIBER MARINE COMPOSITES MARKET SIZE, BY REGION, 2016–2023 (KILOTON)
      • OTHERS
        • Table OTHER FIBER MARINE COMPOSITES MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
        • Table OTHER FIBER MARINE COMPOSITES MARKET SIZE, BY REGION, 2016–2023 (KILOTON)
    • POLYMER MATRIX COMPOSITES MARKET, BY RESIN TYPE
      • Table POLYMER MATRIX COMPOSITE MARKET SIZE, BY RESIN TYPE, 2016–2023 (USD MILLION)
      • Table POLYMER MATRIX COMPOSITE MARKET SIZE, BY RESIN TYPE, 2016–2023 (KILOTON)
      • POLYESTER MARINE COMPOSITES
        • Table POLYESTER MARINE COMPOSITES MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
        • Table POLYESTER MARINE COMPOSITES MARKET SIZE, BY REGION, 2016–2023 (KILOTON)
      • VINYL ESTER MARINE COMPOSITES
        • Table VINYL ESTER MARINE COMPOSITES MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
        • Table VINYL ESTER MARINE COMPOSITES MARKET SIZE, BY REGION, 2016–2023 (KILOTON)
      • EPOXY MARINE COMPOSITES
        • Table EPOXY MARINE COMPOSITES MARKET SIZE, BY REGION, 2016–2023 (US MILLION)
        • Table EPOXY MARINE COMPOSITES MARKET SIZE, BY REGION, 2016–2023 (KILOTON)
      • THERMOPLASTIC MARINE COMPOSITES
        • Table THERMOPLASTIC MARINE COMPOSITES MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
        • Table THERMOPLASTIC MARINE COMPOSITES MARKET SIZE, BY REGION, 2016–2023 (KT)
      • OTHERS
        • Table OTHER RESIN MARINE COMPOSITES MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
        • Table OTHER RESIN MARINE COMPOSITES MARKET SIZE, BY REGION, 2016–2023 (KILOTON)
  • MARINE COMPOSITES MARKET, BY VESSEL TYPE
    • INTRODUCTION
      • Table MARINE COMPOSITES MARKET SIZE, BY VESSEL TYPE, 2016–2023 (USD MILLION)
      • Table MARINE COMPOSITES MARKET SIZE, BY VESSEL TYPE, 2016–2023 (KILOTON)
    • POWER BOATS
      • YACHTS
      • CATAMARANS
      • RACING BOATS
        • Table MARINE COMPOSITES MARKET SIZE IN POWER BOATS, BY REGION, 2016–2023 (USD MILLION)
        • Table MARINE COMPOSITES MARKET SIZE IN POWER BOATS, BY REGION, 2016–2023 (KILOTON)
    • SAILBOATS
      • Table MARINE COMPOSITES MARKET SIZE IN SAILBOATS, BY REGION, 2016–2023 (USD MILLION)
      • Table MARINE COMPOSITES MARKET SIZE IN SAILBOATS, BY REGION, 2016–2023 (KILOTON)
    • CRUISE SHIP
      • Table MARINE COMPOSITES MARKET SIZE IN CRUISE SHIP, BY REGION, 2016–2023 (USD MILLION)
      • Table MARINE COMPOSITES MARKET SIZE IN CRUISE SHIP, BY REGION, 2016–2023 (KILOTON)
    • OTHERS
      • Table MARINE COMPOSITES MARKET SIZE IN OTHER VESSEL TYPES, BY REGION, 2016–2023 (USD MILLION)
      • Table MARINE COMPOSITES MARKET SIZE IN OTHER VESSEL TYPES, BY REGION, 2016–2023 (KILOTON)
  • MARINE COMPOSITES MARKET, BY REGION
    • INTRODUCTION
      • Table MARINE COMPOSITES MARKET SIZE, BY REGION, 2018–2023 (USD MILLION)
      • Table MARINE COMPOSITES MARKET SIZE, BY REGION, 2018–2023 (KILOTON)
    • NORTH AMERICA
      • Table NORTH AMERICA: MARINE COMPOSITES MARKET SIZE, BY COUNTRY, 2016–2023 (USD MILLION)
      • Table NORTH AMERICA: MARINE COMPOSITES MARKET SIZE, BY COUNTRY, 2016–2023 (KILOTON)
      • Table NORTH AMERICA: MARINE COMPOSITES MARKET SIZE, BY FIBER TYPE, 2016–2023 (USD MILLION)
      • Table NORTH AMERICA: MARINE COMPOSITES MARKET SIZE, BY FIBER TYPE, 2016–2023 (KILOTON)
      • Table NORTH AMERICA: MARINE COMPOSITES MARKET SIZE, BY RESIN TYPE, 2016–2023 (USD MILLION)
      • Table NORTH AMERICA: MARINE COMPOSITES MARKET SIZE, BY RESIN TYPE, 2016–2023 (KILOTON)
      • Table NORTH AMERICA: MARINE COMPOSITES MARKET SIZE, BY VESSEL TYPE, 2016–2023 (USD MILLION)
      • Table NORTH AMERICA: MARINE COMPOSITES MARKET SIZE, BY VESSEL TYPE, 2016–2023 (KILOTON)
      • US
      • CANADA
    • EUROPE
      • Table EUROPE: MARINE COMPOSITES MARKET SIZE, BY COUNTRY, 2016–2023 (USD MILLION)
      • Table EUROPE: MARINE COMPOSITES MARKET SIZE, BY COUNTRY, 2016–2023 (KILOTON)
      • Table EUROPE: MARINE COMPOSITES MARKET SIZE, BY FIBER TYPE, 2016–2023 (USD MILLION)
      • Table EUROPE: MARINE COMPOSITES MARKET SIZE, BY FIBER TYPE, 2016–2023 (KILOTON)
      • Table EUROPE: MARINE COMPOSITES MARKET SIZE, BY RESIN TYPE, 2016–2023 (USD MILLION)
      • Table EUROPE: MARINE COMPOSITES MARKET SIZE, BY RESIN TYPE, 2016–2023 (KILOTON)
      • Table EUROPE: MARINE COMPOSITES MARKET SIZE, BY VESSEL TYPE, 2016–2023 (USD MILLION)
      • Table EUROPE: MARINE COMPOSITES MARKET SIZE, BY VESSEL TYPE, 2016–2023 (KILOTON)
      • ITALY
      • GERMANY
      • FRANCE
      • UK
      • NETHERLANDS
      • REST OF EUROPE
    • APAC
      • Table APAC: MARINE COMPOSITES MARKET SIZE, BY COUNTRY, 2016–2023 (USD MILLION)
      • Table APAC: MARINE COMPOSITES MARKET SIZE, BY COUNTRY, 2016–2023 (KILOTON)
      • Table APAC: MARINE COMPOSITES MARKET SIZE, BY FIBER TYPE, 2016–2023 (USD MILLION)
      • Table APAC: MARINE COMPOSITES MARKET SIZE, BY FIBER TYPE, 2016–2023 (KILOTON)
      • Table APAC: MARINE COMPOSITES MARKET SIZE, BY RESIN TYPE, 2016–2023 (USD MILLION)
      • Table APAC: MARINE COMPOSITES MARKET SIZE, BY RESIN TYPE, 2016–2023 (KILOTON)
      • Table APAC: MARINE COMPOSITES MARKET SIZE, BY VESSEL TYPE, 2016–2023 (USD MILLION)
      • Table APAC: MARINE COMPOSITES MARKET SIZE, BY VESSEL TYPE, 2016–2023 (KILOTON)
      • CHINA
      • JAPAN
      • SOUTH KOREA
      • AUSTRALIA
      • REST OF APAC
    • LATIN AMERICA
      • Table LATIN AMERICA: MARINE COMPOSITES MARKET SIZE, BY COUNTRY, 2016–2023 (USD MILLION)
      • Table LATIN AMERICA: MARINE COMPOSITES MARKET SIZE, BY COUNTRY, 2016–2023 (KILOTON)
      • Table LATIN AMERICA: MARINE COMPOSITES MARKET SIZE, BY FIBER TYPE, 2016–2023 (USD MILLION)
      • Table LATIN AMERICA: MARINE COMPOSITES MARKET SIZE, BY FIBER TYPE, 2016–2023 (KILOTON)
      • Table LATIN AMERICA: MARINE COMPOSITES MARKET SIZE, BY RESIN TYPE, 2016–2023 (USD MILLION)
      • Table LATIN AMERICA: MARINE COMPOSITES MARKET SIZE, BY RESIN TYPE, 2016–2023 (KILOTON)
      • Table LATIN AMERICA: MARINE COMPOSITES MARKET SIZE, BY VESSEL TYPE, 2016–2023 (USD MILLION)
      • Table LATIN AMERICA: MARINE COMPOSITES MARKET SIZE, BY VESSEL TYPE, 2016–2023 (KILOTON)
      • BRAZIL
      • ARGENTINA
      • REST OF LATIN AMERICA
    • MEA
      • Table MEA: MARINE COMPOSITES MARKET SIZE, BY COUNTRY, 2016–2023 (USD MILLION)
      • Table MEA: MARINE COMPOSITES MARKET SIZE, BY COUNTRY, 2016–2023 (KILOTON)
      • Table MEA: MARINE COMPOSITES MARKET SIZE, BY FIBER TYPE, 2016–2023 (USD MILLION)
      • Table MEA: MARINE COMPOSITES MARKET SIZE, BY FIBER TYPE, 2016–2023 (KILOTON)
      • Table MEA: MARINE COMPOSITES MARKET SIZE, BY RESIN TYPE, 2016–2023 (USD MILLION)
      • Table MEA: MARINE COMPOSITES MARKET SIZE, BY RESIN TYPE, 2016–2023 (KILOTON)
      • Table MEA: MARINE COMPOSITES MARKET SIZE, BY VESSEL TYPE, 2016–2023 (USD MILLION)
      • Table MEA: MARINE COMPOSITES MARKET SIZE, BY VESSEL TYPE, 2016–2023 (KILOTON)
      • SOUTH AFRICA
      • TURKEY
      • REST OF MEA
  • COMPETITIVE LANDSCAPE
    • INTRODUCTION
    • KEY GROWTH STRATEGIES
      • NEW PRODUCT LAUNCHES
        • Table NEW PRODUCT LAUNCHES, 2014–2018
      • EXPANSIONS
        • Table EXPANSIONS, 2014–2018
      • ACQUISITIONS
        • Table ACQUISITIONS, 2014–2018
      • AGREEMENTS
        • Table AGREEMENTS, 2014–2018
  • COMPANY PROFILES
    • TORAY INDUSTRIES INC.
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • SWOT ANALYSIS
      • MNM VIEW
    • MITSUBISHI RAYON CO. LTD.
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • SWOT ANALYSIS
      • MNM VIEW
    • HEXCEL CORPORATION
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • SWOT ANALYSIS
      • MNM VIEW
    • OWENS CORNING
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • SWOT ANALYSIS
      • MNM VIEW
    • CYTEC SOLVAY GROUP
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • SWOT ANALYSIS
      • MNM VIEW
    • E. I. DU PONT DE NEMOURS AND COMPANY
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • MNM VIEW
    • GURIT HOLDING
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • MNM VIEW
    • SGL GROUP
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • TEIJIN LIMITED
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • HYOSUNG
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • OTHER COMPANIES
      • ZOLTEK COMPANIES INC.
      • TATNEFT ALABUGA FIBERGLASS
      • PREMIER COMPOSITE TECHNOLOGIES
      • ADVANCED CUSTOM MANUFACTURING
      • AEROMARINE INDUSTRIES LTD.
      • AIRBORNE
      • GMS COMPOSITES
      • COMPOSITES ONE
      • HEXION
      • MARINE CONCEPTS
  • APPENDIX
    • DISCUSSION GUIDE
    • KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL
    • AVAILABLE CUSTOMIZATIONS
    • RELATED REPORTS
    • AUTHOR DETAILS

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