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Marine Composites Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

The global marine composites market reached a value of US$ 4.4 Billion in 2020. 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. Looking forward, IMARC Group expects the global marine composites market to exhibit moderate growth during the next five years.

Breakup by Composite Type:

  • Metal Matrix Composite (MMC)
  • Ceramic Matrix Composite (CMC)
  • Polymer Matrix Composite (PMC)
     

Breakup by Fiber Type:

  • Glass Fiber
  • Carbon Fiber
  • Aramid Fiber
  • Natural Fiber
  • Others
     

Breakup by Resin Type:

  • Polyester
  • Vinyl Ester
  • Epoxy
  • Thermoplastic
  • Phenolic
  • Acrylic
  • Others
     

Breakup by Vessel Type:

  • Power Boats
  • Sailboats
  • Cruise Ships
  • Others
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being 3A Composites GmbH (Schweiter Technologies), E. I. Du Pont De Nemours and Company, GMS Composites, Gurit AG, Hexcel Corporation, Hyosung Marine Co. Ltd., Owens Corning, Solvay SA, SGL Carbon SE, Teijin Limited, Zoltek Corporation (Toray Industries), etc.

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?

1    Preface
2    Scope and Methodology 

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global Marine Composite 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
    6.1    Metal Matrix Composite (MMC)
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Ceramic Matrix Composite (CMC)
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Polymer Matrix Composite (PMC)
        6.3.1 Market Trends
        6.3.2 Market Forecast
7    Market Breakup by Fiber Type
    7.1    Glass Fiber
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Carbon Fiber
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Aramid Fiber
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Natural Fiber
        7.4.1 Market Trends
        7.4.2 Market Forecast
    7.5    Others
        7.5.1 Market Trends
        7.5.2 Market Forecast
8    Market Breakup by Resin Type
    8.1    Polyester
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Vinyl Ester
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Epoxy
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    Thermoplastic
        8.4.1 Market Trends
        8.4.2 Market Forecast
    8.5    Phenolic
        8.5.1 Market Trends
        8.5.2 Market Forecast
    8.6    Acrylic
        8.6.1 Market Trends
        8.6.2 Market Forecast
    8.7    Others
        8.7.1 Market Trends
        8.7.2 Market Forecast
9    Market Breakup by Vessel Type
    9.1    Power Boats
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    Sailboats
        9.2.1 Market Trends
        9.2.2 Market Forecast
    9.3    Cruise Ships
        9.3.1 Market Trends
        9.3.2 Market Forecast
    9.4    Others
        9.4.1 Market Trends
        9.4.2 Market Forecast
10    Market Breakup by Region
    10.1    North America
        10.1.1 United States
           10.1.1.1 Market Trends
           10.1.1.2 Market Forecast
        10.1.2 Canada
           10.1.2.1 Market Trends
           10.1.2.2 Market Forecast
    10.2    Asia Pacific
        10.2.1 China
           10.2.1.1 Market Trends
           10.2.1.2 Market Forecast
        10.2.2 Japan
           10.2.2.1 Market Trends
           10.2.2.2 Market Forecast
        10.2.3 India
           10.2.3.1 Market Trends
           10.2.3.2 Market Forecast
        10.2.4 South Korea
           10.2.4.1 Market Trends
           10.2.4.2 Market Forecast
        10.2.5 Australia
           10.2.5.1 Market Trends
           10.2.5.2 Market Forecast
        10.2.6 Indonesia
           10.2.6.1 Market Trends
           10.2.6.2 Market Forecast
        10.2.7 Others
           10.2.7.1 Market Trends
           10.2.7.2 Market Forecast
    10.3    Europe
        10.3.1 Germany
           10.3.1.1 Market Trends
           10.3.1.2 Market Forecast
        10.3.2 France
           10.3.2.1 Market Trends
           10.3.2.2 Market Forecast
        10.3.3 United Kingdom
           10.3.3.1 Market Trends
           10.3.3.2 Market Forecast
        10.3.4 Italy
           10.3.4.1 Market Trends
           10.3.4.2 Market Forecast
        10.3.5 Spain
           10.3.5.1 Market Trends
           10.3.5.2 Market Forecast
        10.3.6 Russia
           10.3.6.1 Market Trends
           10.3.6.2 Market Forecast
        10.3.7 Others
           10.3.7.1 Market Trends
           10.3.7.2 Market Forecast
    10.4    Latin America
        10.4.1 Brazil
           10.4.1.1 Market Trends
           10.4.1.2 Market Forecast
        10.4.2 Mexico
           10.4.2.1 Market Trends
           10.4.2.2 Market Forecast
        10.4.3 Others
           10.4.3.1 Market Trends
           10.4.3.2 Market Forecast
    10.5    Middle East and Africa
        10.5.1 Market Trends
        10.5.2 Market Breakup by Country
        10.5.3 Market Forecast
11    SWOT Analysis
    11.1    Overview
    11.2    Strengths
    11.3    Weaknesses
    11.4    Opportunities
    11.5    Threats
12    Value Chain Analysis
13    Porters Five Forces Analysis

    13.1    Overview
    13.2    Bargaining Power of Buyers
    13.3    Bargaining Power of Suppliers
    13.4    Degree of Competition
    13.5    Threat of New Entrants
    13.6    Threat of Substitutes
14    Price Indicators
15    Competitive Landscape

    15.1    Market Structure
    15.2    Key Players
    15.3    Profiles of Key Players
        15.3.1    3A Composites GmbH (Schweiter Technologies)
           15.3.1.1 Company Overview
           15.3.1.2 Product Portfolio 
           15.3.1.3 Financials 
        15.3.2    E. I. Du Pont De Nemours and Company
           15.3.2.1 Company Overview
           15.3.2.2 Product Portfolio 
           15.3.2.3 Financials 
        15.3.3    GMS Composites
           15.3.3.1 Company Overview
           15.3.3.2 Product Portfolio 
        15.3.4    Gurit AG
           15.3.4.1 Company Overview
           15.3.4.2 Product Portfolio 
        15.3.5    Hexcel Corporation
           15.3.5.1 Company Overview
           15.3.5.2 Product Portfolio 
           15.3.5.3 Financials 
           15.3.5.4 SWOT Analysis
        15.3.6    Hyosung Marine Co. Ltd.
           15.3.6.1 Company Overview
           15.3.6.2 Product Portfolio
        15.3.7    Owens Corning
           15.3.7.1 Company Overview
           15.3.7.2 Product Portfolio 
           15.3.7.3 Financials 
           15.3.7.4 SWOT Analysis
        15.3.8    Solvay SA
           15.3.8.1 Company Overview
           15.3.8.2 Product Portfolio
           15.3.8.3 Financials 
           15.3.8.4 SWOT Analysis
        15.3.9    SGL Carbon SE 
           15.3.9.1 Company Overview
           15.3.9.2 Product Portfolio 
           15.3.9.3 Financials 
           15.3.9.4 SWOT Analysis
        15.3.10    Teijin Limited 
           15.3.10.1 Company Overview
           15.3.10.2 Product Portfolio 
           15.3.10.3 Financials 
           15.3.10.4 SWOT Analysis
        15.3.11    Zoltek Corporation (Toray Industries)
           15.3.11.1 Company Overview
           15.3.11.2 Product Portfolio 
           15.3.11.3 SWOT Analysis

List of Figures

Figure 1: Global: Marine Composites Market: Major Drivers and Challenges
Figure 2: Global: Marine Composites Market: Sales Value (in Billion US$), 2015-2020
Figure 3: Global: Marine Composites Market: Breakup by Composite Type (in %), 2020
Figure 4: Global: Marine Composites Market: Breakup by Fiber Type (in %), 2020
Figure 5: Global: Marine Composites Market: Breakup by Resin Type (in %), 2020
Figure 6: Global: Marine Composites Market: Breakup by Vessel Type (in %), 2020
Figure 7: Global: Marine Composites Market: Breakup by Region (in %), 2020
Figure 8: Global: Marine Composites Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 9: Global: Marine Composites (Metal Matrix Composite - MMC) Market: Sales Value (in Million US$), 2015 & 2020
Figure 10: Global: Marine Composites (Metal Matrix Composite - MMC) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 11: Global: Marine Composites (Ceramic Matrix Composite - CMC) Market: Sales Value (in Million US$), 2015 & 2020
Figure 12: Global: Marine Composites (Ceramic Matrix Composite - CMC) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 13: Global: Marine Composites (Polymer Matrix Composite - PMC) Market: Sales Value (in Million US$), 2015 & 2020
Figure 14: Global: Marine Composites (Polymer Matrix Composite - PMC) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 15: Global: Marine Composites (Glass Fiber) Market: Sales Value (in Million US$), 2015 & 2020
Figure 16: Global: Marine Composites (Glass Fiber) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 17: Global: Marine Composites (Carbon Fiber) Market: Sales Value (in Million US$), 2015 & 2020
Figure 18: Global: Marine Composites (Carbon Fiber) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 19: Global: Marine Composites (Aramid Fiber) Market: Sales Value (in Million US$), 2015 & 2020
Figure 20: Global: Marine Composites (Aramid Fiber) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 21: Global: Marine Composites (Natural Fiber) Market: Sales Value (in Million US$), 2015 & 2020
Figure 22: Global: Marine Composites (Natural Fiber) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 23: Global: Marine Composites (Other Fiber Types) Market: Sales Value (in Million US$), 2015 & 2020
Figure 24: Global: Marine Composites (Other Fiber Types) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 25: Global: Marine Composites (Polyester) Market: Sales Value (in Million US$), 2015 & 2020
Figure 26: Global: Marine Composites (Polyester) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 27: Global: Marine Composites (Vinyl Ester) Market: Sales Value (in Million US$), 2015 & 2020
Figure 28: Global: Marine Composites (Vinyl Ester) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 29: Global: Marine Composites (Epoxy) Market: Sales Value (in Million US$), 2015 & 2020
Figure 30: Global: Marine Composites (Epoxy) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 31: Global: Marine Composites (Thermoplastic) Market: Sales Value (in Million US$), 2015 & 2020
Figure 32: Global: Marine Composites (Thermoplastic) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 33: Global: Marine Composites (Phenolic) Market: Sales Value (in Million US$), 2015 & 2020
Figure 34: Global: Marine Composites (Phenolic) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 35: Global: Marine Composites (Acrylic) Market: Sales Value (in Million US$), 2015 & 2020
Figure 36: Global: Marine Composites (Acrylic) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 37: Global: Marine Composites (Other Resin Types) Market: Sales Value (in Million US$), 2015 & 2020
Figure 38: Global: Marine Composites (Other Resin Types) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 39: Global: Marine Composites (Power Boats) Market: Sales Value (in Million US$), 2015 & 2020
Figure 40: Global: Marine Composites (Power Boats) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 41: Global: Marine Composites (Sailboats) Market: Sales Value (in Million US$), 2015 & 2020
Figure 42: Global: Marine Composites (Sailboats) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 43: Global: Marine Composites (Cruise Ships) Market: Sales Value (in Million US$), 2015 & 2020
Figure 44: Global: Marine Composites (Cruise Ships) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 45: Global: Marine Composites (Other Vessel Types) Market: Sales Value (in Million US$), 2015 & 2020
Figure 46: Global: Marine Composites (Other Vessel Types) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 47: North America: Marine Composites Market: Sales Value (in Million US$), 2015 & 2020
Figure 48: North America: Marine Composites Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 49: United States: Marine Composites Market: Sales Value (in Million US$), 2015 & 2020
Figure 50: United States: Marine Composites Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 51: Canada: Marine Composites Market: Sales Value (in Million US$), 2015 & 2020
Figure 52: Canada: Marine Composites Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 53: Asia Pacific: Marine Composites Market: Sales Value (in Million US$), 2015 & 2020
Figure 54: Asia Pacific: Marine Composites Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 55: China: Marine Composites Market: Sales Value (in Million US$), 2015 & 2020
Figure 56: China: Marine Composites Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 57: Japan: Marine Composites Market: Sales Value (in Million US$), 2015 & 2020
Figure 58: Japan: Marine Composites Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 59: India: Marine Composites Market: Sales Value (in Million US$), 2015 & 2020
Figure 60: India: Marine Composites Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 61: South Korea: Marine Composites Market: Sales Value (in Million US$), 2015 & 2020
Figure 62: South Korea: Marine Composites Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 63: Australia: Marine Composites Market: Sales Value (in Million US$), 2015 & 2020
Figure 64: Australia: Marine Composites Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 65: Indonesia: Marine Composites Market: Sales Value (in Million US$), 2015 & 2020
Figure 66: Indonesia: Marine Composites Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 67: Others: Marine Composites Market: Sales Value (in Million US$), 2015 & 2020
Figure 68: Others: Marine Composites Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 69: Europe: Marine Composites Market: Sales Value (in Million US$), 2015 & 2020
Figure 70: Europe: Marine Composites Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 71: Germany: Marine Composites Market: Sales Value (in Million US$), 2015 & 2020
Figure 72: Germany: Marine Composites Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 73: France: Marine Composites Market: Sales Value (in Million US$), 2015 & 2020
Figure 74: France: Marine Composites Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 75: United Kingdom: Marine Composites Market: Sales Value (in Million US$), 2015 & 2020
Figure 76: United Kingdom: Marine Composites Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 77: Italy: Marine Composites Market: Sales Value (in Million US$), 2015 & 2020
Figure 78: Italy: Marine Composites Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 79: Spain: Marine Composites Market: Sales Value (in Million US$), 2015 & 2020
Figure 80: Spain: Marine Composites Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 81: Russia: Marine Composites Market: Sales Value (in Million US$), 2015 & 2020
Figure 82: Russia: Marine Composites Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 83: Others: Marine Composites Market: Sales Value (in Million US$), 2015 & 2020
Figure 84: Others: Marine Composites Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 85: Latin America: Marine Composites Market: Sales Value (in Million US$), 2015 & 2020
Figure 86: Latin America: Marine Composites Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 87: Brazil: Marine Composites Market: Sales Value (in Million US$), 2015 & 2020
Figure 88: Brazil: Marine Composites Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 89: Mexico: Marine Composites Market: Sales Value (in Million US$), 2015 & 2020
Figure 90: Mexico: Marine Composites Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 91: Others: Marine Composites Market: Sales Value (in Million US$), 2015 & 2020
Figure 92: Others: Marine Composites Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 93: Middle East and Africa: Marine Composites Market: Sales Value (in Million US$), 2015 & 2020
Figure 94: Middle East and Africa: Marine Composites Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 95: Global: Marine Composites Industry: SWOT Analysis
Figure 96: Global: Marine Composites Industry: Value Chain Analysis
Figure 97: Global: Marine Composites Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: Global: Marine Composites Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: Marine Composites Market Forecast: Breakup by Composite Type (in Million US$), 2021-2026
Table 3: Global: Marine Composites Market Forecast: Breakup by Fiber Type (in Million US$), 2021-2026
Table 4: Global: Marine Composites Market Forecast: Breakup by Resin Type (in Million US$), 2021-2026
Table 5: Global: Marine Composites Market Forecast: Breakup by Vessel Type (in Million US$), 2021-2026
Table 6: Global: Marine Composites Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 7: Global: Marine Composites Market Structure
Table 8: Global: Marine Composites Market: Key Players

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