DUBLIN--(BUSINESS WIRE)--The "Marine Composites Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.

The global marine composites market reached a value of US$ 4.6 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 5.8 Billion by 2027, exhibiting a CAGR of 4.1% during 2022-2027.

Companies Mentioned

• 3A Composites GmbH (Schweiter Technologies)
• E. I. Du Pont De Nemours
• GMS Composites
• Gurit AG
• Hexcel Corporation
• Hyosung Marine Co. Ltd.
• Owens Corning
• Solvay SA
• SGL Carbon SE
• Teijin Limited
• Zoltek Corporation (Toray Industries)

Keeping in mind the uncertainties of COVID-19, they are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor

Marine composites refer to a mixture of fibers and resin materials that are used to shape and reinforce marine components. Ferrocement, glass-reinforced plastic, wood fibers, carbon composites and aramid fiber are some of the most commonly used marine components. They are usually manufactured using polyester, vinyl ester, epoxy, thermoplastic, acrylic and phenolic resins. They are also used for manufacturing gratings, ducts, shafts, piping and hull shells. These composite-based parts are used for assembling powerboats, sailboats and cruise ships as they offer advantageous properties, such as high mechanical strength, fuel efficiency, reduction in the overall weight, corrosion resistance, and customizability

One of the key factors creating a positive outlook for the market is the significant growth in the maritime industry across the globe. Furthermore, the growing demand for high speed, power and luxury boats and yachts is also providing a boost to the market growth. Marine composites are extensively used for manufacturing recreational boats that have a high strength-to-weight ratio, fuel-efficiency, improved noise damping features and lower magnetic signature. In line with this, increasing marine transportation activities and cargo movement across borders is contributing to the market growth.

Composites, such as fiber-reinforced composites, are being increasingly used as they can withstand extreme pressures from winds, waves and tides and maintain their physical properties when submerged in saltwater. Additionally, various product innovations, such as the development of marine composites using renewable materials and vacuum infusion, are acting as another growth-inducing factor. These composites provide additional stiffness, vibration damping, water repellency and impact and abrasion resistance.

Key Questions Answered in This Report:

• How has the global marine composites market performed so far and how will it perform in the coming years?
• What are the key regional markets?
• What has been the impact of COVID-19 on the global marine composites market?
• What is the breakup of the market based on the composite type?
• What is the breakup of the market based on the fiber type?
• What is the breakup of the market based on the resin type?
• What is the breakup of the market based on the vessel type?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global marine composites market and who are the key players?
• What is the degree of competition in the industry?

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction

4.1 Overview

4.2 Key Industry Trends

5 Global Marine Composites Market

5.1 Market Overview

5.2 Market Performance

5.3 Impact of COVID-19

5.4 Market Forecast

6 Market Breakup by Composite Type

7 Market Breakup by Fiber Type

8 Market Breakup by Resin Type

9 Market Breakup by Vessel Type

10 Market Breakup by Region

11 SWOT Analysis

12 Value Chain Analysis

13 Porters Five Forces Analysis

14 Price Indicators

15 Competitive Landscape

15.1 Market Structure

15.2 Key Players

15.3 Profiles of Key Players

For more information about this report visit https://www.researchandmarkets.com/r/jwybe1

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Laura Wood, Senior Press Manager
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