Market Overview:

The United States marine composites market is expected to exhibit steady growth during 2021-2026. Keeping in mind the uncertainties of COVID-19, we 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 made using fibers and resin materials are used to shape and reinforce marine components. These components include glass-reinforced plastic, carbon composites, aramid fiber and ferrocement. Marine composites are utilized in the manufacturing of ducts, gratings, shafts, hull shells and piping. At present, they find application in assembling sailboats, cruise ships and powerboats as they provide advantageous properties, like fuel efficiency, high mechanical strength, corrosion resistance, reduction in the overall weight and customizability.

The primary factor driving the market in the United States is the burgeoning shipbuilding industry. Moreover, the escalating demand for high speed, power and luxury boats and yachts is impelling the market growth. Some of the other factors, such as rapid technological advancements in various industries, the large presence of skilled workforce, advanced processing capabilities and the growing research and development (R&D) activities, are driving the market further in the US. However, the outbreak of coronavirus disease (COVID-19) and the subsequent lockdown restrictions imposed by the governing agencies have resulted in severe supply chain disruptions. This has negatively affected the market growth in the country, but it is currently witnessing gradual recovery on account of the upliftment of lockdown restrictions and several product innovations, including the development of marine composites using renewable materials. These composites offer additional stiffness, water repellency, vibration damping, and impact and abrasion resistance.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the United States marine composites market, along with forecasts at the country and regional level from 2021-2026. Our report has categorized the market based on composite type, fiber type, resin type and vessel type.

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:

• Northeast
• Midwest
• South
• West
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Report Coverage:

Key Questions Answered in This Report:

• How has the United States marine composites market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the United States marine composites market?
• What are the key regional markets?
• 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 United States marine composites market and who are the key players?
• What is the degree of competition in the industry?