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Marine Composites Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 By Composite Type (Metal Matrix Composites, Ceramic Matrix Composites, Polymer Matrix Composites), By Application (Power Boats, Sailboats, Cruise Ships, Others), By Region and Competition
Market Report I 2023-01-01 I 113 Pages I TechSci Research
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.
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:
o Metal Matrix Composites
o Ceramic Matrix Composites
o Polymer Matrix Composites
- Marine Composites Market, By Application:
o Power Boats
o Sailboats
o Cruise Ships
o Others
- Marine Composites Market, By Region:
o Europe
- France
- Germany
- United Kingdom
- Sweden
- Denmark
- Switzerland
o North America
- United States
- Canada
- Mexico
o Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
o Middle East and Africa
- Saudi Arabia
- UAE
- South Africa
o 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).
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. SWOT Analysis
15.6. Recent Developments
15.6.1. Toray Industries Inc.
15.6.2. Mitsubishi Rayon Co. Ltd.
15.6.3. Hexcel Corporation
15.6.4. Owens Corning
15.6.5. Arkema SA
15.6.6. Premier Composite Technologies
15.6.7. Advanced Custom Manufacturing
15.6.8. Aeromarine Industries Ltd.
15.6.9. Airborne Recruiting Pvt. Ltd.
15.6.10. Hyosung Corporation
16. Strategic Recommendations
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