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Published Date: 2014-05-06Number of Pages: 95

Marine Composites Market - (Product – Carbon Fiber Reinforced Plastics (CFRPs), Glass Fiber Reinforced Plastics (GFRPs), Foam Core Materials, Metal Composites; End-User – Powerboats, Sailboats, Cruise Liner, Personal Watercraft, and Jet Boats) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2013 - 2019

Marine Composites Market: Snapshot

The marine composites market is estimated to experience notable growth in the coming years. There has been a high demand from leisure boat industry. In the recent past, the technology has advanced significantly along with the surge in leisure boat industry that has stirred the demand for marine composites in the market. On the global platform, the growth of marine composites market is being propelled by the increased usage of bio-plastics and out-of-autoclave prepregs composites in the market.

The market is expected to showcase a healthy CAGR of 7.0% from 2013-2019. The market value was evaluated to be US$954.6 mn in 2012, which is anticipated to reach US$1,549.6 mn by the end of 2019.

Efficient Fuel Utilization Property Boosts Up the Market Growth of Marine Composites

There has been a rise in boat building industry in the past few years in Asia Pacific region mainly in countries such as Mainland China and South Korea. The demand has was the highest from cruise liners in 2012. Marine composites offer flexibility in design to the makers to develop complicated parts with great shapes. Fiber marine composites are preferred over the steel ones as boats and other marine vessels turn out be light in weight. Usage of marine composites ensures efficient utilization of fuel, increase in performance, and less carbon emission. The progress in the industry has led to several tie-ups and partnerships among marine composites producers and large boat manufacturers. The marine vessels manufacturing represents a considerable shares of the marine composites market. The high paced development will decidedly support progress in the marine composites industry in the coming years.

North America to Dominate as the Marine Industry Gains Momentum

On the basis of geography, the marine composites industry is segmented into Europe, North America, Asia-Pacific, and Rest of the World. Asia Pacific is foreseen to be the fastest developing regional market for marine composites. This emerging trend is attributed to the increased demand from China and South Korea. Interest for marine composites was most noteworthy from North America in 2012 representing around 45% of the worldwide market, owing to developed interest for small and leisure boats. Another reason for North America market to flourish is the launch of various products by marine vendors, for example, Jespersen Boat Builders, and BAYLINER. Moreover, there has been a soaring demand in this region due to the manufacturing of high-speed boat. The interest in marine composites is likely going to rise over the forecast period. Also, request from several other regions, for example, Europe is anticipated to shoot up because of tremendous demands from private watercraft. Due to the development in boating sectors in nations, for example, China, the US, and European nation such as the Netherlands has brought about a soaring demand for marine composites. On the basis of type, the carbon fiber reinforced polymer (CFRP) is expected to be second-fastest surging segment in the market over the estimated time frame elucidating 8.8% of the entire market in 2012.

Marines Composites Market to Grow Due to Shorter App Processing Time and Design Flexibility

The worldwide marine composites industry is ruled by leading players who bargain in the production of metal composites and carbon fiber, glass fiber, prepregs and foam cores. Technological innovations is a key driver for the marine composites market, which empowers players to advance and grow new and sustainable items. To manage themselves in the market, a few organizations are concentrating on variables, for example, diminished assembling costs, flexibility of use, expanded material quality, and lower weight, design flexibility in order to increase more share in the overall industry.

Hexcel Corporation and E. I. du Pont de Nemours and Company Cytec Industries Inc., Zoltek Companies Inc., 3A Composites GmbH, Toray Industries Inc. are the major players in the marine composites market.

The report covers forecast and analysis for the marine composites market on a global and regional level. The study provides historical data of 2012 along with a forecast from 2013 to 2019 based on both volumes (kilo tons) and revenue (USD million). The study includes drivers and restraints for the marine composites market along with the impact they have on the demand over the forecast period. Additionally, the report includes analysis of opportunities available in the marine composites market on a global and regional level. The drivers, restraints and opportunities mentioned in the report are justified with the help of quantitative and qualitative data which is verified by primary and secondary resources.
 
In order to give the users of this report a comprehensive view on the marine composites market, we have included a detailed value chain analysis. Value chain analysis will provide details such as integration in the market, distribution channels, applications and end-user for the market To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the marine composites market has also been included. The study encompasses a market attractiveness analysis, wherein product segments are benchmarked based on their market size, compounded annual growth rate (CAGR), general attractiveness and company market share. The report includes company market share analysis which helps to understand business strategies of the major manufacturers in the market.
 
The study provides a decisive view on the marine composites market by segmenting the market based on product types and end-users. All product and application segments have been analyzed based on present and future trends and the CAGR for the market is estimated between 2013 and 2019. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific and Rest of the World (RoW). This segmentation includes demand for individual applications in all the regions.
 
The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global market. Key players profiled in the report include Cytec Industries Inc., 3A Composites GmbH, Toray Industries Inc., Gurit Holding AG, Hexcel Corporation, Zoltek Companies Inc., Koninklijke Ten Cate nv, Owens Corning Corporation, Taijin Ltd., Hexcel Corporation and E. I. du Pont de Nemours among others. Company profiles include attributes such as company overview, financial overview, business strategy, SWOT analysis and recent developments. 
 
Inflation is not a part of pricing in this report. Prices of marine composites and its derivatives vary in each region; hence, a similar volume to revenue ratio does not follow for each individual region. The same price for each application has been taken into account while estimating and forecasting market revenue on the global basis. Regional average price has been considered while breaking down this market by product and end-user segment in each region. We use models and estimates in order to produce comprehensive data sets when there is no hard data available. We have used the bottom up approach to arrive at the global market considering individual application segments and integrating them to arrive at the global market. The applications have been further bifurcated using top down approach to derive the regional product market consumption.
 
For the research report, we conducted in-depth interviews and discussions with a wide range of key industry participants and opinion leaders. Primary research represented the bulk of research efforts, supplemented by an extensive secondary research. We reviewed key players’ product literature, annual reports, press releases and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations and agencies. This has proven to be the most reliable, effective and successful approach for obtaining precise market data, capturing industry participants’ insights and recognizing business opportunities.
The market has been segmented as below:
 
Marine Composites Market: Product Segment Analysis
  • Carbon fiber reinforced plastics (CFRPs)
  • Glass fiber reinforced plastics (GFRPs)
  • Foam core materials
  • Others (including metal composites, etc.) 
Marine Composites Market: End-user Analysis
  • Powerboats
  • Sailboats
  • Cruise liner
  • Others (including personal watercraft, jet boats, etc.) 
Marine Composites Market: Regional Analysis
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World


 
 
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