Global Marine Composites (Carbon Fiber Reinforced Plastics, Glass Fiber Reinforced Plastics, Foam Core Applications and Others) Market for Powerboats, Sailboats, Cruise Liners and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021
The report covers forecast and analysis for the marine composites market on a global and regional level. According to the report, the global marine composites market was valued at USD approximate USD 1050.0 million in 2015 and expected to reach approximately USD 2000.0 million by 2021, growing at a CAGR of around 7.1% between 2016 and 2021. In terms of volume, global marine composites market stood at approximately 148 kilo tons in 2015.The study includes drivers and restraints for the marine composites market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the marine composites market on a global level.
Global Marine Market 2015 – 2021
In order to give the users of this report a comprehensive view on the marine composites market, we have included competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein product segments are benchmarked based on their market size, growth rate and general attractiveness.
The global marine composite market is anticipated to exhibit witness significant growth during the forecast period. The marine composite market is mainly driven by increasing demand for repairable and biodegradable composites coupled with technological advancement. Moreover, low manufacturing cost is projected to drive the growth of marine composite market. However, legislations related to styrene may hamper the market growth in the years to come. Furthermore, environmental awareness is expected to open up new growth opportunities of marine composites market within the forecast period.
Based on products, the global marine composites market can be classified into glass fiber composites, carbon fiber composites, and foam core. In 2015, glass fiber reinforced plastics product segment accounted for largest share of market. This growth is mainly because of GFRP are affordable and offers various design for the powerboats and personal watercrafts sectors. Carbon fiber composite is another key segment accounted for over 8.9 % share of total market in 2015. Rapidly growing applications and technological advancements has been resulted into increased demand for marine composites across the globe during forecast period.
Marine composites are widely used in various industries, such as powerboats, sailboats, cruise liner and others. Power boat dominated the marine composites market and is projected to show rapid growth within the forecast period. In terms of growth rate, sailboats was another leading application segment accounted for 25.0% market share in 2015 and is anticipated to gain high market share in the year to come. Strong demand for out-of-autoclave prepregs and bio-plastics composites in different application sectors are anticipated to exhibit substantial growth in the years to come.
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The study provides a decisive view on the marine composites market by segmenting the market based on product, application and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2015 to 2021. On the basis of product segment the report has been segmented on the basis of glass fiber composites, carbon fiber composites, and foam core Applications. On the basis of application segment the report has been segmented on the basis of powerboats, leisure boat, sailboats, cruise liners, personal watercrafts and others. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America and Middle East and Africa with its further bifurcation into major countries including U.S. Germany, France, UK, China, Japan, India and Brazil.
Key industry participants analyzed and profiled in this study includes, such as Cytec Industries Inc., Toray Industries Inc., Hexcel Corporation, Koninklijke Ten Cate nv, Taijin Ltd., E.I. du Pont de Nemours, 3A Composites GmbH, Gurit Holding AG, and Zoltek Companies Inc and others.
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This report segments the global market as follows:
Marine Composites Market – Product Segment Analysis
- Carbon fiber reinforced plastics
- Glass fiber reinforced plastics
- Foam core Applications
- Others (including metal composites, etc.)
Marine Composites Market – Application Segment Analysis
- Cruise liner
- Others (including personal watercraft, jet boats, etc.)
Marine Composites Market – Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa