Marine Composites Market Size, Share, Growth, Trends, Company Analysis, Regional Insights and Forecast 2020 - 2027

Published Date : Aug 2020 | No. of Pages : 200 Pages | Category : Chemical and Material

The global marine composites market size is projected to reach USD 6.05 billion by 2027, registering a 5.3% CAGR over the forecast period, according to a study by Vision Research Reports.

The market is anticipated to be driven growing demand for corrosion resistant, high strength, and light weight parts in shipbuilding industry.

Composites materials have the potential to reduce maintenance and fabrication costs, enhance aesthetic appeal, increase reliability, and reduce the component weight. The market for marine Composites is highly influenced by rising demand for fuel efficient and high-speed power boats which is projected to boost the market demand over the forecast period.

Report Highlights

PMC segment is expected to dominate the global market owing to the numerous applications and excellent properties in the marine industry. PMC offers high strength, excellent corrosion resistance, lightweight, and impact resistance, which makes it more suitable to use in shipbuilding.

CMC is expected to witness the fastest growth over the forecast period. The segment accounted for 29.15% of the global market share in 2019.

Cruise ships vessel type segment expected to dominate the overall market, accounting for 31.50% of revenue share in 2019. The segment is projected to propel a CAGR of 4.40% over the forecast period.

Powerboat is anticipated to be one of the most significant vessel type segments and expected to register a CAGR of 3.92% for 2020 to 2027.

Asia Pacific emerged as the leading regional market and accounted for 39.37% of the market share in 2019. The region is expected to witness substantial growth over the forecast period owing to the increasing demand for recreational boats.

Europe was the second-largest market and is expected to expand at a CAGR of 3.51% over the forecast period. The European shipbuilding industry is very dynamic and competitive owing to the presence of a large number of competitors in the region.

North America is one of the mature markets and is projected to surpass USD 775.5 billion by 2027.

Owens Corning., Toray Industries, Inc., Cytec Industries (Solvay S.A.), SGL Group, Hexcel Corporation, Teijin Limited., E. I. Du Pont Nemours & Co., Mitsubishi Rayon Co., Gurit Holding, 3A Composites, and Hyosung. are some of the key players engaged in the R&D and manufacturing of high-quality composites products.

Segmentation

  • By Composite

    • Ceramic Matrix Composites

    • Metal Matrix Composites

    • Polymer Matrix Composites

      • Polymer Matrix Composites By Fabric Type

        • Glass Fiber Marine Composites

        • Carbon Fiber Marine Composites

        • Others

      • Polymer Matrix Composites By Resin Type

        • Polyester Marine Composites

        • Vinyl Ester Marine

        • Epoxy Marine Composites

        • Thermoplastic Marine Composites

        • Others

  • By Vessel Type

    • Power Boats

      • Racing Boats

      • Yachts

      • Catamarans

      • Others

    • Sailboats

    • Cruise Ships

    • Others

  • Regional Outlook

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • Russia

      • Spain

      • U.K.

    • Asia Pacific

      • China

      • Japan

      • India

      • South Korea

      • Australia

    • Central & South America

      • Brazil

      • Argentina

    • Middle East And Africa

      • Saudi Arabia

      • South Africa

The Marine composites market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Marine composites market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Marine composites market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Marine composites market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Marine composites market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Marine composites capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Marine composites by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Marine composites market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Marine composites market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Marine composites market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Marine composites industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Marine composites market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Marine composites market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Marine composites market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Marine composites market. These factors have benefited the growth of the global market for Marine composites. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Marine composites. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Marine composites are as follows:

  • History Year: 2016-2019
  • Base Year: 2019
  • Estimated Year: 2020
  • Forecast Year 2020 to 2027

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2016-2019) and forecast (2020-2027);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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