Global Marine Composites Market By Composite Type (Metal Matrix Composites, Ceramic Matrix Composites, Polymer Matrix Composites), By Application (Power Boats, Sailboats, Cruise Ships, Others), By Region, Forecast & Opportunities, 2025
Global marine composites market was valued around USD 4 billion until 2019 and is expected to grow at a formidable rate of around 6% during the forecast period. The global marine composites market is driven by the surging requirement for lightweight boats. Moreover, surging technological innovations so that overall time of production cycle can be reduced, which is anticipated to positively impact the growth of market during the forecast years. Also, increase in need for corrosion resistance parts in building ships is further expected to bolster the growth of market over the next few years.
The global marine composites market is segmented based on composite type, application, company and region. Based on composite type, the market can be categorized into metal matrix composites, ceramic matrix composites and polymer matrix composites. The polymer matrix composites segment dominated the market until 2019 in terms of largest revenue and is expected to maintain its leading position during the forecast period as well. This can be ascribed to its large-scale applications in marine industry as this polymer matrix composite exhibits excellent properties. In addition to this, polymer matrix composite provides additional benefits such as corrosion resistance, lightweight and impact resistance, which is thereby boosting the growth of segment during the forecast years.
Major players operating in the global marine composites market include Toray Industries Inc., Mitsubishi Rayon Co. Ltd., Hexcel Corporation, Owens Corning, Cytec Solvay Group, E. I. Du Pont De Nemours and Company, Gurit Holding, SGL Group, Teijin Limited, Hyosung, Zoltek Companies Inc., Tatneft Alabuga Fiberglass, Premier Composite Technologies, Advanced Custom Manufacturing, Aeromarine Industries Ltd., Airborne, GMS Composites, Composites One, Hexion, Marine Concepts and others. The companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions, collaborations, partnerships and new developments.
Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021–2025
Objective of the Study:
To analyze and estimate the market size of global marine composites market from 2015 to 2018.
To estimate and forecast the market size of global marine composites market from 2019 to 2025 and growth rate until 2025.
To classify and forecast global marine composites market based on composite type, application, company and regional distribution.
To identify dominant region or segment in the global marine composites market.
To identify drivers and challenges for global marine composites market.
To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global marine composites market.
To conduct pricing analysis for global marine composites market.
To identify and analyze the profile of leading players operating in global marine composites market.
To identify key sustainable strategies adopted by market players in global marine composites market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers of marine composites across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the globe.
TechSci Research calculated the market size of global marine composites market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
Marine composites manufacturers, suppliers, distributors and other stakeholders
Government bodies such as regulating authorities and policy makers
Organizations, forums and alliances related to marine composites
Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers suppliers, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, global marine composites market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Global Marine Composites Market, By Composite Type:
Metal Matrix Composites
Ceramic Matrix Composites
Polymer Matrix Composites
Global Marine Composites Market, By Application:
Global Marine Composites Market, By Region:
Middle East & Africa
Company Profiles: Detailed analysis of the major companies present in global marine composites market.
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
Detailed analysis and profiling of additional market players (up to five).
Please Note: Report will be updated with the latest data and delivered to you within 3-5 working days of order.
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