Market Research Reports, Inc.

Global Marine Composites Market to Grow at a CAGR of 6.04% During the Period 2016 - 2020; Finds New Report

Market Research Reports, Inc. has announced the addition of “Global Marine Composites Market 2016 - 2020” research report to their website


Lewes, DE -- (SBWIRE) -- 11/14/2016 -- Report forecast the global marine composites market to grow at a CAGR of 6.04% during the period 2016-2020.

Marine composites are used extensively in the construction of ships and marine structures. These composites have a higher stiffness and strength by weight than most other materials, including metals, such as steel and aluminum. These are used in various parts of a commercial or pleasure craft. The result is a lighter craft that can achieve a higher rate of speed than the same type of craft constructed with aluminum or steel.

The report covers the present scenario and the growth prospects of the global marine composites market for 2016-2020. To calculate the market size, the report considers the consumption of marine composites products for applications in powerboats, sailboats, cruise ships, and others (personal watercraft and race boats).

The market is divided into the following segments based on geography:
- Europe
- North America

According to the report, the global demand for small boats is anticipated to grow at a CAGR of 5% during the forecast period. The total value of recreational boat sales was estimated to be $3.7 billion in 2015. It is anticipated that small boats will require more advanced composites, such as CFRP. Small boats are anticipated to see high demand in Europe and North America, particularly the US and the UK.

Further, the report states that there are several disadvantages associated with the use of composites in the marine industry. Raw material and their fabrication cost have become a major challenge in the adoption of composites in the marine industry. These composites are expensive than their metal counterparts due to the high price of carbon fibers, glass fibers, and foam core materials. Furthermore, the tooling and capital costs of composites are higher than the metal counterparts, which increase the overall cost of composites. For instance, the price of steel per autobody is around $950-$980, whereas the price of carbon fiber per autobody is around $2,400-$2,500.

Global Marine Composites Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the global marine composites market: 3A Composites, Cytec, DuPont, Mitsubishi Rayon (MRC), and Owens Corning

Other Prominent Vendors in the market are: Gurit, Hexcel, SGL Group, Teijin, and Toray Industries

Market driver
- High demand from small boats
- For a full, detailed list, view our report

Market challenge
- Disadvantages of marine composites
- For a full, detailed list, view our report

Market trend
- Recovery of boat manufacturing industry
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

Spanning over 61 pages and 43 Exhibits "Global Marine Composites Market 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market segmentation by product material, Market segmentation by resin type, Market segmentation by application, Market segmentation by geography, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Appendix.

For more information Visit at:

Find all Chemicals Reports at:

About Market Research Reports, Inc.
Market Research Reports, Inc. is the world's leading source for market research reports and market data. We provide you with the latest market research reports on global markets, key industries, leading companies, new products and latest industry analysis & trends.

Yearly/Quarterly Report Subscription: