Marine Composites Market Size Study with Top Countries Data, Industry Trends, Growth, Opportunities and Forecast to 2022-2031

This Study On Marine Composites Market estimates its global demand and market size in terms of value for 2013 and projects the expected demand and also the market size the same by 2031. As a part of the quantitative analysis, the study segments the global market by types and applications at country level with current market estimation and forecast till 2031. The countries covered in the report are the U.S., Canada, Germany, Italy, France, Japan, China, South Korea, and Argentina. The segmentation by type includes glass fiber composites, carbon fiber composites and foam core materials; while on the basis of its application, the segmentation includes power boats, cruise ships, sail boats, and others.

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Composites have found wide acceptance in various industries including marine because of their light weight and superior environmental resistance characteristics. On the basis of application areas, the market of marine composites can be broadly segmented into power boats, cruise ships, and sail boats. Though power boats is the major application of marine composites and serves an array of industries including marine leisure market, sail boats is an emerging market and the demand for the same is growing at a high pace.

The North American region is the biggest market of marine composites, accounting for half of the total marine composites demand. There is a lot of scope in the Asia-Pacific market due to the expanding manufacturing base for cruise ships and power boats in the region. With the emerging technological developments and innovations in the region, the demand for marine composites may further augment at a higher pace.

Currently, the reach of marine composites is increasing in power boats and cruise ships segment. The key drivers for increasing demand of marine composites are rise in demand of fuel efficient vehicles and increasing use of high speed boats in recreation activities. The design flexibility offered by composites is further pushing the market of marine composites in different marine applications. Technological developments & innovations and expansion are identified as key strategies to expand the marine composites market.

As a part of qualitative analysis, the research provides report with a comprehensive review of key market drivers, restraints, opportunities, winning imperatives, and key issues in the market.

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It also includes company profiling and competitive strategies adopted by various market players including Toray Industries (Japan), Mitsubishi Rayon Co. Ltd (Japan), Owens Corning (U.S.), 3A composites (Switzerland), Cytec Industries Inc (U.S.), E. I. Du Pont de Nemours and Company (U.S.), Gurit Holding Ag (Switzerland), Hexcel Corporation Inc. (U.S.), SGL Group (Germany), and Teijin Limited (Japan).

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