The global marine composites market is expected to grow at a significant CAGR during the forecast period 2024-2031. The marine composites are composed of various resins and fibres including fibreglass, polyester, carbon fibre or aramid among others. These are reinforced and implemented in the production and manufacturing of boats and marine industries to improve strength and provide efficient resistance against chemical harm and weather effects. The marine composites enable marine industries to deliver excellent properties and wide-scale application and contribute to enhancing productivity and functionality. The increasing demand for high-speed boats raise the demand for marine composites to gain low weight, better strength and effective resistance with an increase in the fuel efficiency are the most dominant factor expected to drive the market growth of the global marine composites market.
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The increasing government investments and initiatives in the marine region, rising implementation of research & development in the boat manufacturing sector and growing recreational activities to gain desirable application are some additional factors that impart significant growth opportunities for the global marine composites market and drive its market growth during the forecast period. Additionally, the increasing growth and emergence of the maritime industry across various countries propel the demand for marine composites. The marine composites applicable for manufacturing and production of boats to provide better functioning and strength is anticipated to flourish the market growth of the global marine composites market in maritime industries during the forecast period.
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Market Coverage
- Segment Covered-
o By Composite Type
o By Fiber Type
o By Resin Type
o By Vessel Type
- Competitive Landscape- Owens Corning, Toray Industries, Inc., SGL Group, Cytec Solvay Group, Teijin Limited.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Marine Composites Market by Segment
By Composite Type
- Metal Matrix Composite (MMC)
- Ceramic Matrix Composite (CMC)
- Polymer Matrix Composite (PMC)
By Fiber Type
- Glass Fiber
- Carbon Fiber
- Natural Fibers
- Others
By Resin Type
- Polyester
- Vinyl Ester
- Epoxy
- Thermoplastic
- Phenolic
- Acrylic
- Others
By Vessel Type
- Power Boats
- Sailboats
- Cruise Ships
- Cargo Vessels
- Naval Boats
- Jet Boats
- Personal Watercraft
- Others
- Others
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