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Marine Composites Market - Global Trends and Forecasts to 2019 PowerPoint Presentation
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Marine Composites Market - Global Trends and Forecasts to 2019

Marine Composites Market - Global Trends and Forecasts to 2019

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Marine Composites Market - Global Trends and Forecasts to 2019

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  1. MarketsandMarkets Presents • Marine Composites Market • Global Trends and Forecasts to 2019

  2. A composite is a mixture of two or more chemically different and insoluble phases. The structure so formed shows superior properties and structural performance better than the constituents. The marine composites market occupies 5.0%–6.0% of the composite market. There are various types of marine composites, such as glass fiber composites, carbon fiber composites, and foam core materials that are used in manufacturing of power boats, sail boats, cruise ships, and others. • The marine composites market is estimated to witness a CAGR of 8.96% between 2014 and 2019, and is projected to generate a market size, in terms of value of $4,975.66 million by 2019.

  3. • The North America region was the world’s largest market for marine composites in 2013. The U.S. is the key consumer in North America. Rising expense of people towards leisure coupled with increasing number of HNWI (high net worth individuals) shifted manufacturers’ focus towards marine composites especially for power boats and sail boats. Various product launches, developments, and expansions in different industries have in turn made the region a potential growth market for marine composites.

  4. Power boat is the largest application of marine composites across the world. The market size, in terms of value for the same is projected to reach $2,628.98 million by 2019. The demand for high fuel efficient vehicles is growing at a high rate. This is due to the products, such as carbon fiber composites and foam core materials that are expected to find high demand in their applications. Most of the marine composites offer superior properties than the conventional materials and are flexible, and hence can be moulded in any shape. • Increasing leisure market has encouraged the use of marine composites in power boats and cruise ships. While power boats currently forms the largest application market for glass fiber composites, the carbon fiber composites application is also witnessing increasing demand from the manufacturers of high speed boats. Foam core material is the fastest growing type of marine composites, driven by its high use in recreation boat industry.

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