United States Marine Composites Market

Market Overview:

The United States marine composites market size reached US$ 875.2 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,198.8 Million by 2028, exhibiting a growth rate (CAGR) of 5.2% during 2023-2028. Growing demand for lightweight and durable materials in boat building, the increasing need for fuel-efficient vessels, and the rising popularity of recreational boating and water sports activities are some of the key factors driving the market.

Marine composites are materials used extensively in the construction of boats, yachts, and other marine structures. Its components typically include a matrix material and a reinforcing material. The matrix material is a resin, which serves as a binder for the reinforcing material. The reinforcing material is typically a fiber, such as a fiberglass, carbon fiber, or Kevlar. One of the key advantages of marine composites is their strength-to-weight ratio. They are much lighter than traditional materials, such as steel or aluminum, while being incredibly strong. They are also highly resistant to corrosion, durable, and require low maintenance. Consequently, boats and other marine structures made from composites are fast and fuel-efficient. Currently, there are umpteen variants available, including fiberglass, carbon fiber, and Kevlar composites.

United States Marine Composites Market Trends:

The growing demand for durable and lightweight materials in boat building and marine applications represents one of the key factors providing a positive outlook for the market. Another contributing driver is the increasing need for fuel-efficient vessels, which has led to the adoption of composite materials that offer improved strength-to-weight ratios. Additionally, the rising popularity of recreational boating and water sports activities and the expanding application scope of composites in various marine segments, such as naval vessels, luxury yachts, and commercial boats, are propelling the market growth. In line with this, the development of bio-based composites and the escalating adoption of composites in marine infrastructure are boosting the market growth. Furthermore, the favorable regulatory environment and government initiatives to promote the use of composite materials in marine applications are contributing to the market growth. Other factors, such as the availability of raw materials, the growing focus on renewable energy, and the presence of established manufacturers, are fueling the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the United States marine composites market report, along with forecasts at the country and regional level from 2023-2028. Our report has categorized the market based on composite type, fiber type, resin type and vessel type.

Composite Type Insights:

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

The report has provided a detailed breakup and analysis of the United States marine composites market based on the composite type. This includes metal matrix composite (MMC), ceramic matrix composite (CMC), and polymer matrix composite (PMC). According to the report, polymer matrix composite (PMC) accounted for the largest market share.

Fiber Type Insights: 

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

The report has provided a detailed breakup and analysis of the United States marine composites market based on the fiber type. This includes glass fiber, carbon fiber, aramid fiber, natural fiber, and others. According to the report, glass fiber accounted for the largest market share.

Resin Type Insights:

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

The report has provided a detailed breakup and analysis of the United States marine composites market based on the resin type. This includes polyester, vinyl ester, epoxy, thermoplastic, phenolic, acrylic, and others. According to the report, polyester accounted for the largest market share.

Vessel Type Insights:

• Power Boats
• Sailboats
• Cruise Ships
• Others
   

The report has provided a detailed breakup and analysis of the United States marine composites market based on the vessel type. This includes power boats, sailboats, cruise ships, and others. According to the report, cruise ships accounted for the largest market share.

Regional Insights:

• Northeast
• Midwest
• South
• West
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Northeast, Midwest, South, and West.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the United States marine composites market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. For each of the companies covered, the report provides business overview, services offered, business strategies, financials, SWOT analysis, and major news and events.

Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the United States marine composites market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the United States marine composites market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the United States marine composites industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.