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Marine Composites Market by Type (Metal Matrix, Ceramic Matrix, and Polymer Matrix (Fiber Type (Glass, Cabon), Resin Type (Polyester, Epoxy))), Vessel Type (Power Boats, Sailboats, Cruise Ships), and Region - Global Forecast to 2023

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Date: 10-Sep-2018
No. of pages: 129
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Marine composites market projected to grow at a CAGR of 5.6% during forecast period

The marine composites market is estimated at USD 3.83 billion in 2018 and is projected to reach USD 5.04 billion by 2023, at a CAGR of 5.6% during the forecast period. The major factors driving the growth of the market are the increase in the use of marine composites due to the need for corrosion resistant and lightweight materials, growing recreation boating market, and increasing expending power of people. However, the high prices of carbon fiber and difficulty in recyclability of marine composites may restrain the growth of the market.

Carbon fiber is projected to be the fastest-growing fiber type of the polymer matrix composites market during the forecast period

The carbon fiber segment is expected to lead the polymer matrix composites market owing to its superior properties and increasing use in the boat building industry. Carbon fiber based marine composites are used for the manufacture of high-speed boats. Growth is anticipated by decreasing the cost of carbon fiber composite processing technologies (resulting in low cost of carbon fiber composites), and better properties offered by carbon fiber composites, such as lightweight and high strength to weight ratio. Some of the major applications of carbon fiber composites include furniture in luxury yachts, hulls, and masts of racing yachts, keels, decks, transverse frames, rigs, bulkheads, and longitudinal stringers.

Polyester resin projected to be the largest resin type of polymer matrix composites market during forecast period

The polyester resin segment is projected to lead the marine composites market during the forecast period. The high market share of polyester resin is due to its better properties and lower prices than other resins. Ever since its development, polyester resin has dominated the global marine composites market. In addition, these are available at a lower price than epoxy and vinyl ester resins.

Power Boats projected to be the largest vessel type of the marine composites market during forecast period

The power boat segment is projected to lead the marine composites market during the forecast period owing to the increasing leisure market and recreational boating in North America and Europe. Ever since their development, the power boats industry has been the main end user of marine composites. The growing recreation boating market and increasing expending power of people are expected to drive the market in the coming years.

North America projected to dominate the marine composites market during forecast period

The North American region is projected to dominate the marine composites market between 2018 and 2023 due to the presence of a large number of power boat manufacturers. The demand for recreational boats is the highest in North America due to high per capita incomes in the region. The strong economy continues to bolster new boat sales and boating expenditures in the region.

This study has been validated through primaries conducted with various industry experts, globally.

These primary sources have been divided into the following 3categories:


  • By Company Type: Tier 1—20%, Tier 2—55%, and Tier 3—25%

  • By Designation: C Level—50%, Director Level—25%, and Others—25%

  • By Region: North America—25%, Europe—30%, Asia Pacific—35%, MEA—5%, and Latin America—5%


This report also provides a comprehensive analysis of the companies listed below:


  • Toray Industries Inc. (Japan)

  • Mitsubishi Rayon Co. Ltd. (Japan)

  • Hexcel Corporation (US)

  • Owens Corning (US)

  • Cytec Solvay Group (US)

  • E. I. Du Pont de Nemours and Company (US)

  • Gurit Holding (Switzerland)

  • SGL Group (Germany)

  • Teijin Limited (Japan)

  • Hyosung (South Korea)


Research Coverage

This report covers the market for marine composites and forecasts the market size until 2023. The report includes market segmentation by composites type (metal matrix composite, ceramic matrix composite, polymer matrix composite); polymer matrix composite by fiber type (glass fiber, carbon fiber, others); polymer matrix composite by resin type (polyester, vinyl ester, epoxy, thermoplastic, others); vessel type (power boats, sailboats, cruise ships, others); and region (North America, Europe, APAC, Latin America, MEA). Porter’s Five Forces analysis, along with drivers, restraints, challenges, and opportunities have also been discussed in the report. The report provides company profiles and competitive strategies adopted by major players in the marine composites market.

Key Benefits of Buying the Report

The report will help market leaders/new entrants in this market in the following ways:


  • The report segments the marine composites market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the sub segments across different verticals and regions.

  • The report helps stakeholders understand the pulse of the market and provides information on key market drivers, restraints, challenges, and opportunities.

  • The report will help stakeholders better understand competitors and gain insights to better their positions in the business. The competitive landscape section includes new product launches, expansions, agreements, and acquisitions strategies adopted by players.

Marine Composites Market by Type (Metal Matrix, Ceramic Matrix, and Polymer Matrix (Fiber Type (Glass, Cabon), Resin Type (Polyester, Epoxy))), Vessel Type (Power Boats, Sailboats, Cruise Ships), and Region - Global Forecast to 2023

Table of Contents

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Years Considered for the Study
1.4 Currency
1.5 Unit Considered
1.6 Limitations
1.7 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primary Interviews
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Data Triangulation
2.4 Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Marine Composites Market
4.2 Marine Composites Market, By Composite Type
4.3 Polymer Matrix Composites Market, By Fiber Type
4.4 Polymer Matrix Composites Market, By Resin Type
4.5 Marine Composites Market, By Vessel Type and Region
4.6 Marine Composites Market, By Country
4.7 Marine Composites Market Size, By Vessel Type

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rise in the Demand for High-Speed Boats
5.2.1.2 Better Properties of Marine Composites Than That of Other Alternatives
5.2.1.3 Design Flexibility of Vessels
5.2.1.4 Rise in Demand for Fuel-Efficient Vessels
5.2.2 Restraints
5.2.2.1 High Cost of Carbon Fiber
5.2.2.2 Availability of New High Strength and Lightweight Alloys
5.2.3 Opportunities
5.2.3.1 Growing Leisure Boat Market
5.2.3.2 Technological Advancements
5.2.4 Challenges
5.2.4.1 High Capital Cost
5.2.4.2 Concern About Reparability and Recyclability
5.3 Porter’s Five Forces Analysis
5.3.1 Threat of Substitutes
5.3.2 Bargaining Power of Suppliers
5.3.3 Bargaining Power of Buyers
5.3.4 Threat of New Entrants
5.3.5 Intensity of Competitive Rivalry

6 Marine Composites Market, By Composite Type
6.1 Introduction
6.2 Metal Matrix Composites (MMC)
6.3 Ceramic Matrix Composites (CMC)
6.4 Polymer Matrix Composites (PMC)

7 Marine Composites Market, Polymer Matrix Composite By Type
7.1 Introduction
7.2 Polymer Matrix Composites Market, By Fiber Type
7.2.1 Glass Fiber Marine Composites
7.2.2 Carbon Fiber Marine Composites
7.2.3 Others
7.3 Polymer Matrix Composites Market, By Resin Type
7.3.1 Polyester Marine Composites
7.3.2 Vinyl Ester Marine Composites
7.3.3 Epoxy Marine Composites
7.3.4 Thermoplastic Marine Composites
7.3.5 Others

8 Marine Composites Market, By Vessel Type
8.1 Introduction
8.2 Power Boats
8.2.1 Yachts
8.2.2 Catamarans
8.2.3 Racing Boats
8.3 Sailboats
8.4 Cruise Ship
8.5 Others

9 Marine Composites Market, By Region
9.1 Introduction
9.2 North America
9.2.1 Us
9.2.2 Canada
9.3 Europe
9.3.1 Italy
9.3.2 Germany
9.3.3 France
9.3.4 UK
9.3.5 Netherlands
9.3.6 Rest of Europe
9.4 APAC
9.4.1 China
9.4.2 Japan
9.4.3 South Korea
9.4.4 Australia
9.4.5 Rest of APAC
9.5 Latin America
9.5.1 Brazil
9.5.2 Argentina
9.5.3 Rest of Latin America
9.6 MEA
9.6.1 South Africa
9.6.2 Turkey
9.6.3 Rest of MEA

10 Competitive Landscape
10.1 Introduction
10.2 Key Growth Strategies
10.2.1 New Product Launches
10.2.2 Expansions
10.2.3 Acquisitions
10.2.4 Agreements

11 Company Profiles
(Overview, Financial*, Products & Services, Strategy, and Developments)
11.1 Toray Industries Inc.
11.2 Mitsubishi Rayon Co. Ltd.
11.3 Hexcel Corporation
11.4 Owens Corning
11.5 Cytec Solvay Group
11.6 E. I. Du Pont De Nemours and Company
11.7 Gurit Holding
11.8 SGL Group
11.9 Teijin Limited
11.10 Hyosung
11.11 Other Companies
11.11.1 Zoltek Companies Inc.
11.11.2 Tatneft Alabuga Fiberglass
11.11.3 Premier Composite Technologies
11.11.4 Advanced Custom Manufacturing
11.11.5 Aeromarine Industries Ltd.
11.11.6 Airborne
11.11.7 GMS Composites
11.11.8 Composites One
11.11.9 Hexion
11.11.10 Marine Concepts

*Details Might Not Be Captured in Case of Unlisted Companies

12 Appendix
12.1 Discussion Guide
12.2 Knowledge Store: Marketsandmarkets Subscription Portal
12.3 Available Customizations
12.4 Related Reports
12.5 Author Details

List of Tables

Table 1 Marine Composites Market Size, 2016–2023
Table 2 Marine Composites Market Size, By Composite Type, 2016–2023 (USD Million)
Table 3 Marine Composites Market Size, By Composite Type, 2016–2023 (Kiloton)
Table 4 Polymer Matrix Composites Market Size, By Fiber Type, 2016–2023 (USD Million)
Table 5 Polymer Matrix Composites Market Size, By Fiber Type, 2016–2023 (Kiloton)
Table 6 Glass Fiber Marine Composites Market Size, By Region, 2016–2023 (USD Million)
Table 7 Glass Fiber Marine Composites Market Size, By Region, 2016–2023 (Kiloton)
Table 8 Carbon Fiber Marine Composites Market Size, By Region, 2016–2023 (USD Million)
Table 9 Carbon Fiber Marine Composites Market Size, By Region, 2016–2023 (Kiloton)
Table 10 Other Fiber Marine Composites Market Size, By Region, 2016–2023 (USD Million)
Table 11 Other Fiber Marine Composites Market Size, By Region, 2016–2023 (Kiloton)
Table 12 Polymer Matrix Composite Market Size, By Resin Type, 2016–2023 (USD Million)
Table 13 Polymer Matrix Composite Market Size, By Resin Type, 2016–2023 (Kiloton)
Table 14 Polyester Marine Composites Market Size, By Region, 2016–2023 (USD Million)
Table 15 Polyester Marine Composites Market Size, By Region, 2016–2023 (Kiloton)
Table 16 Vinyl Ester Marine Composites Market Size, By Region, 2016–2023 (USD Million)
Table 17 Vinyl Ester Marine Composites Market Size, By Region, 2016–2023 (Kiloton)
Table 18 Epoxy Marine Composites Market Size, By Region, 2016–2023 (Us Million)
Table 19 Epoxy Marine Composites Market Size, By Region, 2016–2023 (Kiloton)
Table 20 Thermoplastic Marine Composites Market Size, By Region, 2016–2023 (USD Million)
Table 21 Thermoplastic Marine Composites Market Size, By Region, 2016–2023 (Kt)
Table 22 Other Resin Marine Composites Market Size, By Region, 2016–2023 (USD Million)
Table 23 Other Resin Marine Composites Market Size, By Region, 2016–2023 (Kiloton)
Table 24 Marine Composites Market Size, By Vessel Type, 2016–2023 (USD Million)
Table 25 Marine Composites Market Size, By Vessel Type, 2016–2023 (Kiloton)
Table 26 Marine Composites Market Size in Power Boats, By Region, 2016–2023 (USD Million)
Table 27 Marine Composites Market Size in Power Boats, By Region, 2016–2023 (Kiloton)
Table 28 Marine Composites Market Size in Sailboats, By Region, 2016–2023 (USD Million)
Table 29 Marine Composites Market Size in Sailboats, By Region, 2016–2023 (Kiloton)
Table 30 Marine Composites Market Size in Cruise Ship, By Region, 2016–2023 (USD Million)
Table 31 Marine Composites Market Size in Cruise Ship, By Region, 2016–2023 (Kiloton)
Table 32 Marine Composites Market Size in Other Vessel Types, By Region, 2016–2023 (USD Million)
Table 33 Marine Composites Market Size in Other Vessel Types, By Region, 2016–2023 (Kiloton)
Table 34 Marine Composites Market Size, By Region, 2018–2023 (USD Million)
Table 35 Marine Composites Market Size, By Region, 2018–2023 (Kiloton)
Table 36 North America: Marine Composites Market Size, By Country, 2016–2023 (USD Million)
Table 37 North America: Marine Composites Market Size, By Country, 2016–2023 (Kiloton)
Table 38 North America: Marine Composites Market Size, By Fiber Type, 2016–2023 (USD Million)
Table 39 North America: Marine Composites Market Size, By Fiber Type, 2016–2023 (Kiloton)
Table 40 North America: Marine Composites Market Size, By Resin Type, 2016–2023 (USD Million)
Table 41 North America: Marine Composites Market Size, By Resin Type, 2016–2023 (Kiloton)
Table 42 North America: Marine Composites Market Size, By Vessel Type, 2016–2023 (USD Million)
Table 43 North America: Marine Composites Market Size, By Vessel Type, 2016–2023 (Kiloton)
Table 44 Europe: Marine Composites Market Size, By Country, 2016–2023 (USD Million)
Table 45 Europe: Marine Composites Market Size, By Country, 2016–2023 (Kiloton)
Table 46 Europe: Marine Composites Market Size, By Fiber Type, 2016–2023 (USD Million)
Table 47 Europe: Marine Composites Market Size, By Fiber Type, 2016–2023 (Kiloton)
Table 48 Europe: Marine Composites Market Size, By Resin Type, 2016–2023 (USD Million)
Table 49 Europe: Marine Composites Market Size, By Resin Type, 2016–2023 (Kiloton)
Table 50 Europe: Marine Composites Market Size, By Vessel Type, 2016–2023 (USD Million)
Table 51 Europe: Marine Composites Market Size, By Vessel Type, 2016–2023 (Kiloton)
Table 52 APAC: Marine Composites Market Size, By Country, 2016–2023 (USD Million)
Table 53 APAC: Marine Composites Market Size, By Country, 2016–2023 (Kiloton)
Table 54 APAC: Marine Composites Market Size, By Fiber Type, 2016–2023 (USD Million)
Table 55 APAC: Marine Composites Market Size, By Fiber Type, 2016–2023 (Kiloton)
Table 56 APAC: Marine Composites Market Size, By Resin Type, 2016–2023 (USD Million)
Table 57 APAC: Marine Composites Market Size, By Resin Type, 2016–2023 (Kiloton)
Table 58 APAC: Marine Composites Market Size, By Vessel Type, 2016–2023 (USD Million)
Table 59 APAC: Marine Composites Market Size, By Vessel Type, 2016–2023 (Kiloton)
Table 60 Latin America: Marine Composites Market Size, By Country, 2016–2023 (USD Million)
Table 61 Latin America: Marine Composites Market Size, By Country, 2016–2023 (Kiloton)
Table 62 Latin America: Marine Composites Market Size, By Fiber Type, 2016–2023 (USD Million)
Table 63 Latin America: Marine Composites Market Size, By Fiber Type, 2016–2023 (Kiloton)
Table 64 Latin America: Marine Composites Market Size, By Resin Type, 2016–2023 (USD Million)
Table 65 Latin America: Marine Composites Market Size, By Resin Type, 2016–2023 (Kiloton)
Table 66 Latin America: Marine Composites Market Size, By Vessel Type, 2016–2023 (USD Million)
Table 67 Latin America: Marine Composites Market Size, By Vessel Type, 2016–2023 (Kiloton)
Table 68 MEA: Marine Composites Market Size, By Country, 2016–2023 (USD Million)
Table 69 MEA: Marine Composites Market Size, By Country, 2016–2023 (Kiloton)
Table 70 MEA: Marine Composites Market Size, By Fiber Type, 2016–2023 (USD Million)
Table 71 MEA: Marine Composites Market Size, By Fiber Type, 2016–2023 (Kiloton)
Table 72 MEA: Marine Composites Market Size, By Resin Type, 2016–2023 (USD Million)
Table 73 MEA: Marine Composites Market Size, By Resin Type, 2016–2023 (Kiloton)
Table 74 MEA: Marine Composites Market Size, By Vessel Type, 2016–2023 (USD Million)
Table 75 MEA: Marine Composites Market Size, By Vessel Type, 2016–2023 (Kiloton)
Table 76 New Product Launches, 2014–2018
Table 77 Expansions, 2014–2018
Table 78 Acquisitions, 2014–2018
Table 79 Agreements, 2014–2018

List of Figures

Figure 1 Marine Composites Market Segmentation
Figure 2 Marine Composites Market: Research Design
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Marine Composites Market: Data Triangulation
Figure 6 Polymer Matrix Composites to Dominate the Marine Composites Market
Figure 7 Power Boats Segment to Lead the Marine Composites Market
Figure 8 Carbon Fiber to Register the Highest Cagr in the Polymer Matrix Composites Market
Figure 9 Polyester to Be the Largest Resin Type Segment in the Polymer Matrix Composites Market
Figure 10 US to Continue Leading the Marine Composites Market
Figure 11 North America Dominated the Marine Composites Market
Figure 12 High Demand From the Power Boats Segment to Drive the Market, 2018–2023
Figure 13 Polymer Matrix Composite to Dominate the Marine Composites Market
Figure 14 Carbon Fiber to Be the Fastest-Growing Fiber Type Segment of Polymer Matrix Composites Market
Figure 15 Polyester to Be the Largest Resin Type Segment
Figure 16 North America Led the Marine Composites Market
Figure 17 China to Register the Highest Cagr in the Marine Composites Market
Figure 18 Power Boats to Be the Largest Vessel Type Segment
Figure 19 Overview of Factors Governing the Marine Composites Market
Figure 20 Marine Composites Market: Porter’s Five Forces Analysis
Figure 21 Polymer Matrix Composites to Dominate the Marine Composites Market
Figure 22 Glass Fiber Marine Composites to Dominate the Polymer Matrix Composites Market
Figure 23 Glass Fiber Marine Composites Market Size, By Region, 2018–2023 (USD Million)
Figure 24 North America to Be the Largest Carbon Fiber Marine Composites Market
Figure 25 Vinyl Ester to Be the Second-Largest Resin Type
Figure 26 North America to Dominate the Polyester Resin Marine Composites Market
Figure 27 Power Boat Vessel Type to Dominate the Marine Composites Market
Figure 28 North America to Be the Largest Marine Composites Market in Power Boats Segment
Figure 29 Europe to Be the Largest Marine Composites Market in Sailboats Segment
Figure 30 Europe to Be the Largest Marine Composites Market in Cruise Ships Segment
Figure 31 China to Be the Fastest-Growing Marine Composites Market
Figure 32 North America: Marine Composites Market
Figure 33 Europe: Marine Composites Market
Figure 34 APAC: Marine Composites Market
Figure 35 Brazil to Dominate the Marine Composites Market in Latin America
Figure 36 South Africa to Be the Largest Marine Composites Market
Figure 37 Companies Adopted New Product Launches as the Key Growth Strategy Between 2014 and 2018
Figure 38 Toray Industries Inc.: Company Snapshot
Figure 39 Toray Industries Inc.: SWOT Analysis
Figure 40 Mitsubishi Rayon Co. Ltd.: Company Snapshot
Figure 41 Mitsubishi Rayon Co. Ltd.: SWOT Analysis
Figure 42 Hexcel Corporation: Company Snapshot
Figure 43 Hexcel Corporation: SWOT Analysis
Figure 44 Owens Corning: Company Snapshot
Figure 45 Owens Corning: SWOT Analysis
Figure 46 Cytec Solvay Group: Company Snapshot
Figure 47 Cytec Solvay Group: SWOT Analysis
Figure 48 E.I. Du Pont De Nemours and Company: Company Snapshot
Figure 49 Gurit Holding: Company Snapshot
Figure 50 SGL Group: Company Snapshot
Figure 51 Teijin Limited: Company Snapshot
Figure 52 Hyosung: Company Snapshot

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