Marine Composites Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, By Composite Type (Metal Matrix Composites, Ceramic Matrix Composites, Polymer Matrix Composites), By Application (Power Boats, Sailboats, Cruise Ships, Others), By Region and Competition 2018-2028

  • Industry : Chemicals
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  • Published Date : NA
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Report Description

Report Description

Global Marine Composites Market is anticipated to witness robust growth in the forecast period, 2024-2028. This can be ascribed to the growing demand for marine composites from power boats segment. The value of powerboats sold in the United States surpassed USD 7.5 billion in 2021, rising by 24.3 percent versus the previous year.

The requirement for marine composites in corrosion-resistant parts for building ships is fueling the market growth. The use of marine composites in developing lightweight boats is on the surge owing to their excellent resistance properties. Moreover, new technology, such as hybrid composites, creates racing powerboats with enhanced capabilities and better performance. They have widespread industrial applications such as valves and filters, shafting overwraps, gear cases, masts, stacks and foundations, propeller vanes, fans and blowers, and condenser shells.

Over the projected period, rising demand for fast and fuel-efficient power boats is anticipated to drive demand. Racing boats, yachts, and catamarans are a few of the main powerboats made with marine composites. Hulls, masts, swim ladders, deck fixtures, and rudders. Most of the components for the rudder stock are made from glass fiber composites. Additionally, it is anticipated that rising manufacturers' research and development (R&D) investments to launch new product variations will fuel market expansion.

Rise In Demand of Cruise Ships

Due to factors like rising adult boating participation, an increase in the population of wealthy investors, the rapid growth of the international travel and tourism industry, and quickening economic growth, there has been an increase in demand for cruise ships all over the world in recent years. The superstructures of cruise ships are made of composite materials. They are also utilized in ramps and movable automobile decks. The manufacturing of more cruise ships is anticipated to increase because of the growing number of tourists, which will expand the marine composites market.

 

Increasing Demand from Various End-User Industries

One of the key reasons propelling the growth of the marine composites market is the increase in demand for fast boats across the globe. The demand for high-speed, powerful, and luxurious boats and yachts as well as a growing preference for marine composites with superior qualities over alternatives are driving the market's expansion. According to a survey released by the National Marine Manufacturers Association (NMMA) in January 2020, there were roughly 280,000 new boats sold at retail in the year 2019; of those, 73,000 were personal watercraft. The extensive use of composite materials in the construction of recreational boats with high strength-to-weight ratios, low magnetic signatures, increased noise damping qualities, and fuel efficiency has a further impact on the market. Additionally, the market for marine composites benefits from an increase in investments, rising industrialization, marine transportation activities, and cross-border cargo movement


 



Market Segmentation

Global Marine Composites Market is segmented based on Composite Type and Applications. Based on Composite Type, the market is divided into Metal Matrix Composites, Ceramic Matrix Composites and Polymer Matrix Composites. Based on Application, the market is fragmented into Power Boats, Sailboats, Cruise Ships, Others.

 

Market players

Toray Industries Inc., Mitsubishi Rayon Co. Ltd., Hexcel Corporation, Owens Corning Arkema SA, Premier Composite Technologies, Advanced Custom Manufacturing, Aeromarine Industries Ltd., Airborne Recruiting Pvt. Ltd. and Hyosung Corporation are some of the key players operating in the market.

Attribute

Details

Base Year

2022

Historic Data

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million, Volume in metric tons, and CAGR for 2018-2022 and 2023-2028

Report coverage

Revenue forecast, Volume Forecast, company share, competitive landscape, growth factors, and trends

Segments covered

           By Composite Type

           By Application

Regional scope

Europe, North America, Asia Pacific, Middle East & Africa

Country scope

Germany; France; United Kingdom; Sweden; Denmark; Switzerland; United States; Canada; Mexico; China; India; Japan; Australia; South Korea; South Africa; UAE, Saudi Arabia.; Brazil ; Argentina; Colombia

Key companies profiled

Toray Industries Inc., Mitsubishi Rayon Co. Ltd., Hexcel Corporation, Owens Corning Arkema SA, Premier Composite Technologies, Advanced Custom Manufacturing, Aeromarine Industries Ltd., Airborne Recruiting Pvt. Ltd. and Hyosung Corporation

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

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Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Report Scope:

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:

·         Marine Composites Market, By Composite Type:

    • Metal Matrix Composites
    • Ceramic Matrix Composites
    • Polymer Matrix Composites

·         Marine Composites Market, By Application:

    • Power Boats
    • Sailboats
    • Cruise Ships
    • Others  

·         Marine Composites Market, By Region:

    • Europe
      • France
      • Germany
      • United Kingdom
      • Sweden
      • Denmark
      • Switzerland
    • North America
      • United States
      • Canada
      • Mexico
    • Asia-Pacific
      • China
      • India
      • Japan
      • Australia
      • South Korea
    • Middle East and Africa
      • Saudi Arabia
      • UAE
      • South Africa
    • South America
      • Brazil
      • Argentina
      • Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Marine Composites Market.

Available Customizations:

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:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Marine Composites Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.     Markets Covered

1.2.2.     Years Considered for Study

1.2.3.     Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Overview of the Market

3.2.  Overview of Key Market Segmentations

3.3.  Overview of Key Market Players

3.4.  Overview of Key Regions/Countries

3.5.  Overview of Market Drivers, Challenges, Trends

4.    Voice of Customer

5.    Global Marine Composites Market Outlook

5.1.  Market Size & Forecast

5.1.1.     By Value & Volume

5.2.  Market Share & Forecast

5.2.1.     By Composite Type (Metal Matrix Composites, Ceramic Matrix Composites, Polymer Matrix Composites)

5.2.2.     By Application (Power Boats, Sailboats, Cruise Ships, Others)

5.2.3.     By Region (Europe, Asia Pacific, North America, Middle East & Africa)

5.2.4.     By Company (2022)

5.3.  Market Map

5.3.1.     By Composite Type

5.3.2.     By Application

5.4.  Pricing Analysis

6.    Europe Marine Composites Market Outlook

6.1.  Market Size & Forecast          

6.1.1.     By Value & Volume

6.2.  Market Share & Forecast

6.2.1.     By Composite Type (Metal Matrix Composites, Ceramic Matrix Composites, Polymer Matrix Composites)

6.2.2.     By Application (Power Boats, Sailboats, Cruise Ships, Others)

6.2.3.     By Country

6.3.  Pricing Analysis

6.4.  Europe: Country Analysis

6.4.1.     France Marine Composites Market Outlook

6.4.1.1.         Market Size & Forecast

6.4.1.1.1.             By Value & Volume

6.4.1.2.         Market Share & Forecast

6.4.1.2.1.             By Composite Type

6.4.1.2.2.             By Application

6.4.2.     Germany Marine Composites Market Outlook

6.4.2.1.         Market Size & Forecast

6.4.2.1.1.             By Value & Volume

6.4.2.2.         Market Share & Forecast

6.4.2.2.1.             By Composite Type

6.4.2.2.2.             By Application

6.4.3.     United Kingdom Marine Composites Market Outlook

6.4.3.1.         Market Size & Forecast

6.4.3.1.1.             By Value & Volume

6.4.3.2.         Market Share & Forecast

6.4.3.2.1.             By Composite Type

6.4.3.2.2.             By Application

6.4.4.     Sweden Marine Composites Market Outlook

6.4.4.1.         Market Size & Forecast

6.4.4.1.1.             By Value & Volume

6.4.4.2.         Market Share & Forecast

6.4.4.2.1.             By Composite Type

6.4.4.2.2.             By Application

6.4.5.     Denmark Marine Composites Market Outlook

6.4.5.1.         Market Size & Forecast

6.4.5.1.1.             By Value & Volume

6.4.5.2.         Market Share & Forecast

6.4.5.2.1.             By Composite Type

6.4.5.2.2.             By Application

6.4.6.     Switzerland Marine Composites Market Outlook

6.4.6.1.         Market Size & Forecast

6.4.6.1.1.             By Value & Volume

6.4.6.2.         Market Share & Forecast

6.4.6.2.1.             By Composite Type

6.4.6.2.2.             By Application

7.    North America Marine Composites Market Outlook

7.1.  Market Size & Forecast          

7.1.1.     By Value & Volume

7.2.  Market Share & Forecast

7.2.1.     By Composite Type (Metal Matrix Composites, Ceramic Matrix Composites, Polymer Matrix Composites)

7.2.2.     By Application (Power Boats, Sailboats, Cruise Ships, Others)

7.2.3.     By Country

7.3.  Pricing Analysis

7.4.  North America: Country Analysis

7.4.1.     United States Marine Composites Market Outlook

7.4.1.1.         Market Size & Forecast

7.4.1.1.1.             By Value & Volume

7.4.1.2.         Market Share & Forecast

7.4.1.2.1.             By Composite Type

7.4.1.2.2.             By Application

7.4.2.     Canada Marine Composites Market Outlook

7.4.2.1.         Market Size & Forecast

7.4.2.1.1.             By Value & Volume

7.4.2.2.         Market Share & Forecast

7.4.2.2.1.             By Composite Type

7.4.2.2.2.             By Application

7.4.3.     Mexico Marine Composites Market Outlook

7.4.3.1.         Market Size & Forecast

7.4.3.1.1.             By Value & Volume

7.4.3.2.         Market Share & Forecast

7.4.3.2.1.             By Composite Type

7.4.3.2.2.             By Application

8.    Asia-Pacific Marine Composites Market Outlook

8.1.  Market Size & Forecast          

8.1.1.     By Value & Volume

8.2.  Market Share & Forecast

8.2.1.     By Composite Type (Metal Matrix Composites, Ceramic Matrix Composites, Polymer Matrix Composites)

8.2.2.     By Application (Power Boats, Sailboats, Cruise Ships, Others)

8.2.3.     By Country

8.3.  Pricing Analysis

8.4.  Asia-Pacific: Country Analysis

8.4.1.     China Marine Composites Market Outlook

8.4.1.1.         Market Size & Forecast

8.4.1.1.1.             By Value & Volume

8.4.1.2.         Market Share & Forecast

8.4.1.2.1.             By Composite Type

8.4.1.2.2.             By Application

8.4.2.     India Marine Composites Market Outlook

8.4.2.1.         Market Size & Forecast

8.4.2.1.1.             By Value & Volume

8.4.2.2.         Market Share & Forecast

8.4.2.2.1.             By Composite Type

8.4.2.2.2.             By Application

8.4.3.     Japan Marine Composites Market Outlook

8.4.3.1.         Market Size & Forecast

8.4.3.1.1.             By Value & Volume

8.4.3.2.         Market Share & Forecast

8.4.3.2.1.             By Composite Type

8.4.3.2.2.             By Application

8.4.4.     South Korea Marine Composites Market Outlook

8.4.4.1.         Market Size & Forecast

8.4.4.1.1.             By Value & Volume

8.4.4.2.         Market Share & Forecast

8.4.4.2.1.             By Composite Type

8.4.4.2.2.             By Application

8.4.5.     Australia Marine Composites Market Outlook

8.4.5.1.         Market Size & Forecast

8.4.5.1.1.             By Value & Volume

8.4.5.2.         Market Share & Forecast

8.4.5.2.1.             By Composite Type

8.4.5.2.2.             By Application

9.    Middle East Marine Composites Market Outlook

9.1.  Market Size & Forecast          

9.1.1.     By Value & Volume

9.2.  Market Share & Forecast

9.2.1.     By Composite Type (Metal Matrix Composites, Ceramic Matrix Composites, Polymer Matrix Composites)

9.2.2.     By Application (Power Boats, Sailboats, Cruise Ships, Others)

9.2.3.     By Country

9.3.  Pricing Analysis

9.4.  Middle East & Africa : Country Analysis

9.4.1.     Saudi Arabia Marine Composites Market Outlook

9.4.1.1.         Market Size & Forecast

9.4.1.1.1.             By Value & Volume

9.4.1.2.         Market Share & Forecast

9.4.1.2.1.             By Composite Type

9.4.1.2.2.             By Application

9.4.2.     UAE Marine Composites Market Outlook

9.4.2.1.         Market Size & Forecast

9.4.2.1.1.             By Value & Volume

9.4.2.2.         Market Share & Forecast

9.4.2.2.1.             By Composite Type

9.4.2.2.2.             By Application

9.4.3.     South Africa Marine Composites Market Outlook

9.4.3.1.         Market Size & Forecast

9.4.3.1.1.             By Value & Volume

9.4.3.2.         Market Share & Forecast

9.4.3.2.1.             By Composite Type

9.4.3.2.2.             By Application

10.  South America Marine Composites Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value & Volume

10.2.              Market Share & Forecast

10.2.1.  By Composite Type (Metal Matrix Composites, Ceramic Matrix Composites, Polymer Matrix Composites)

10.2.2.  By Application (Power Boats, Sailboats, Cruise Ships, Others)

10.2.3.  By Country

10.3.              Pricing Analysis

10.4.              South America : Country Analysis

10.4.1.  Brazil Marine Composites Market Outlook

10.4.1.1.      Market Size & Forecast

10.4.1.1.1.           By Value & Volume

10.4.1.2.      Market Share & Forecast

10.4.1.2.1.           By Composite Type

10.4.1.2.2.           By Application

10.4.2.  Argentina Marine Composites Market Outlook

10.4.2.1.      Market Size & Forecast

10.4.2.1.1.           By Value & Volume

10.4.2.2.      Market Share & Forecast

10.4.2.2.1.           By Composite Type

10.4.2.2.2.           By Application

10.4.3.  Colombia Marine Composites Market Outlook

10.4.3.1.      Market Size & Forecast

10.4.3.1.1.           By Value & Volume

10.4.3.2.      Market Share & Forecast

10.4.3.2.1.           By Composite Type

10.4.3.2.2.           By Application

11.  Market Dynamics

11.1.              Drivers

11.2.              Challenges

12.  Market Trends & Developments

12.1.              Mergers & Acquisitions

12.2.              Product Developments

12.3.              Technological Advancements

13.  Global Marine Composites Market: SWOT Analysis

14.  Porter’s Five Forces Analysis

14.1.              Competition in the Industry

14.2.              Potential of New Entrants

14.3.              Power of Suppliers

14.4.              Power of Customers

14.5.              Threat of Substitute Products

15.  Competitive Landscape

15.1.              Business Overview

15.2.              Company Snapshot

15.3.              Products & Services

15.4.              Financials (In case of listed companies)

15.5.              Recent Developments

SWOT Analysis

15.5.1.  Toray Industries Inc.

15.5.2.  Mitsubishi Rayon Co. Ltd.

15.5.3.  Hexcel Corporation

15.5.4.  Owens Corning

15.5.5.  Arkema SA

15.5.6.  Premier Composite Technologies

15.5.7.  Advanced Custom Manufacturing

15.5.8.  Aeromarine Industries Ltd.

15.5.9.  Airborne Recruiting Pvt. Ltd.

15.5.10.                Hyosung Corporation

16.  Strategic Recommendations

Figures and Tables

Frequently asked questions

Frequently asked questions

Increasing demand from End-User Industries for Marine Composites is expected to drive the Global Marine Composites Market in the forecast period.

Toray Industries Inc., Mitsubishi Rayon Co. Ltd., Hexcel Corporation, Owens Corning Arkema SA, Premier Composite Technologies, Advanced Custom Manufacturing, Aeromarine Industries Ltd., Airborne Recruiting Pvt. Ltd. and Hyosung Corporation are some of the key players operating in the market.

Based on Application market is divided Power Boats, Sailboats, Cruise Ships, Others. The Power Boats Segment is expected to capture the highest market share in the forecast period.

The North America region is dominating the market and is expected to maintain its dominance over the next five years.

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