MARKET OVERVIEW
Marine composites are materials that are used in the construction of boats, ships, and other marine vessels. They are made from a combination of fibers, such as fiberglass, carbon fiber, and aramid fiber, and a resin, such as epoxy or polyester. Marine composites are known for their strength, durability, and resistance to weathering, corrosion, and impact damage. The uses of marine composites are varied and include boat hulls, decks, superstructures, masts, and interior furnishings. They are used in both recreational and commercial applications, including sailboats, power boats, yachts, and cargo ships. The advantages of marine composites over traditional materials, such as wood, aluminum, and steel, include lighter weight, improved fuel efficiency, and greater design flexibility. Marine composites also have the ability to be molded into complex shapes, making them ideal for use in high-performance vessels. The end-users of marine composites include boat and ship manufacturers, as well as repair and maintenance companies. The marine composites market is predicted to grow in coming years due to the increasing demand for high-performance boats and ships, as well as the desire to reduce fuel consumption and emissions in the marine industry.
MARKET DYNAMICS
The marine composites market is growing at a significant pace owing to driving factors such as high demand for lightweight sailboats and cruise vessels. As lightweight aircraft are deployed to increase the performance and efficiency of the vessel, it is likely to drive the demand for the marine composites market in the coming years. An increase in disposable income steaming up the demand of yachts which again gives a positive drive to the marine composite market. Aerospace plastics' less reusability and reparability may hamper the market. However, growing economies like China and India where cargo movement has grown over the period of time lay an excellent opportunity for the marine composites market.
MARKET SCOPE
The "Marine Composites Market Analysis to 2028" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the marine composites market with detailed market segmentation by composite type, type, vessel type, and region. The marine composites market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading marine composites market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The marine composites market is segmented on the basis of fiber type, resin type, vessel type. . On the basis of fiber type, the marine composites market is segmented into, glass fiber, carbon fiber, aramid, natural fibers, and others. On the basis of resin type, the marine composites market is segregated into, polyester, vinyl ester, epoxy, thermoplastic, and others. Based on vessel type, the marine composites market is segmented into, sailboats, cruise ships, power boats, and other vessels.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the marine composites market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The Marine composites market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the marine composites market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Marine composites market in these regions.
MARKET PLAYERS
The reports cover key developments in the Marine composites market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from marine composites market are anticipated to lucrative growth opportunities in the future with the rising demand for marine composites in the global market. Below mentioned is the list of few companies engaged in the marine composites market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Marine composites market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Mitsubishi Rayon Co. Ltd.
- Hexcel Corporation
- Owens Corning
- Cytec Solvay Group
- E. I. Du Pont De Nemours and Company
- Gurit Holding
- SGL Group
- Airborne
- Teijin Limited