Marine Composites Market SWOT Analysis by 2031
MARKET OVERVIEW
Marine composites are materials that are used in the construction of boats, ships, and other marine vessels. They are made from a combination of fibers, such as fiberglass, carbon fiber, and aramid fiber, and a resin, such as epoxy or polyester. Marine composites are known for their strength, durability, and resistance to weathering, corrosion, and impact damage. The uses of marine composites are varied and include boat hulls, decks, superstructures, masts, and interior furnishings. They are used in both recreational and commercial applications, including sailboats, power boats, yachts, and cargo ships. The advantages of marine composites over traditional materials, such as wood, aluminum, and steel, include lighter weight, improved fuel efficiency, and greater design flexibility. Marine composites also have the ability to be molded into complex shapes, making them ideal for use in high-performance vessels. The end-users of marine composites include boat and ship manufacturers, as well as repair and maintenance companies. The marine composites market is predicted to grow in coming years due to the increasing demand for high-performance boats and ships, as well as the desire to reduce fuel consumption and emissions in the marine industry.
MARKET DYNAMICS
The marine composites market is growing at a significant pace owing to driving factors such as high demand for lightweight sailboats and cruise vessels. As lightweight aircraft are deployed to increase the performance and efficiency of the vessel, it is likely to drive the demand for the marine composites market in the coming years. An increase in disposable income steaming up the demand of yachts which again gives a positive drive to the marine composite market. Aerospace plastics' less reusability and reparability may hamper the market. However, growing economies like China and India where cargo movement has grown over the period of time lay an excellent opportunity for the marine composites market.
MARKET SCOPE
The "Marine Composites Market Analysis to 2031" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the marine composites market with detailed market segmentation by composite type, type, vessel type, and region. The marine composites market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading marine composites market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The marine composites market is segmented on the basis of fiber type, resin type, vessel type. . On the basis of fiber type, the marine composites market is segmented into, glass fiber, carbon fiber, aramid, natural fibers, and others. On the basis of resin type, the marine composites market is segregated into, polyester, vinyl ester, epoxy, thermoplastic, and others. Based on vessel type, the marine composites market is segmented into, sailboats, cruise ships, power boats, and other vessels.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the marine composites market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The Marine composites market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the marine composites market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Marine composites market in these regions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the marine composites market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The Marine composites market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the marine composites market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Marine composites market in these regions.
MARKET PLAYERS
The reports cover key developments in the Marine composites market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from marine composites market are anticipated to lucrative growth opportunities in the future with the rising demand for marine composites in the global market. Below mentioned is the list of few companies engaged in the marine composites market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Marine composites market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Mitsubishi Rayon Co. Ltd.
- Hexcel Corporation
- Owens Corning
- Cytec Solvay Group
- E. I. Du Pont De Nemours and Company
- Gurit Holding
- SGL Group
- Airborne
- Teijin Limited
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Marine Composites Market - By Composite type
1.3.2 Marine Composites Market - By Type
1.3.3 Marine Composites Market - By Vessel type
1.3.4 Marine Composites Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. MARINE COMPOSITES MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. MARINE COMPOSITES MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. MARINE COMPOSITES MARKET - GLOBAL MARKET ANALYSIS
6.1. MARINE COMPOSITES - GLOBAL MARKET OVERVIEW
6.2. MARINE COMPOSITES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. MARINE COMPOSITES MARKET - REVENUE AND FORECASTS TO 2028 - COMPOSITE TYPE
7.1. OVERVIEW
7.2. COMPOSITE TYPE MARKET FORECASTS AND ANALYSIS
7.3. CERAMIC MATRIX COMPOSITE (CMC)
7.3.1. Overview
7.3.2. Ceramic Matrix Composite (CMC) Market Forecast and Analysis
7.4. METAL MATRIX COMPOSITE (MMC)
7.4.1. Overview
7.4.2. Metal Matrix Composite (MMC) Market Forecast and Analysis
7.5. POLYMER MATRIX COMPOSITE (PMC)
7.5.1. Overview
7.5.2. Polymer Matrix Composite (PMC) Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. MARINE COMPOSITES MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
8.1. OVERVIEW
8.2. TYPE MARKET FORECASTS AND ANALYSIS
8.3. FIBER TYPE
8.3.1. Overview
8.3.2. Fiber Type Market Forecast and Analysis
8.4. HYBRID COMPOSITES
8.4.1. Overview
8.4.2. Hybrid Composites Market Forecast and Analysis
8.5. FOAM CORE MATERIALS
8.5.1. Overview
8.5.2. Foam Core Materials Market Forecast and Analysis
8.6. RESIN TYPE
8.6.1. Overview
8.6.2. Resin Type Market Forecast and Analysis
8.7. OTHER
8.7.1. Overview
8.7.2. Other Market Forecast and Analysis
9. MARINE COMPOSITES MARKET - REVENUE AND FORECASTS TO 2028 - VESSEL TYPE
9.1. OVERVIEW
9.2. VESSEL TYPE MARKET FORECASTS AND ANALYSIS
9.3. SAILBOATS
9.3.1. Overview
9.3.2. Sailboats Market Forecast and Analysis
9.4. CRUISE SHIPS
9.4.1. Overview
9.4.2. Cruise Ships Market Forecast and Analysis
9.5. POWER BOATS
9.5.1. Overview
9.5.2. Power Boats Market Forecast and Analysis
9.6. OTHER VESSEL
9.6.1. Overview
9.6.2. Other Vessel Market Forecast and Analysis
10. MARINE COMPOSITES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Marine Composites Market Overview
10.1.2 North America Marine Composites Market Forecasts and Analysis
10.1.3 North America Marine Composites Market Forecasts and Analysis - By Composite type
10.1.4 North America Marine Composites Market Forecasts and Analysis - By Type
10.1.5 North America Marine Composites Market Forecasts and Analysis - By Vessel type
10.1.6 North America Marine Composites Market Forecasts and Analysis - By Countries
10.1.6.1 Canada Marine Composites Market
10.1.6.1.1 Canada Marine Composites Market by Composite type
10.1.6.1.2 Canada Marine Composites Market by Type
10.1.6.1.3 Canada Marine Composites Market by Vessel type
10.1.6.2 Mexico Marine Composites Market
10.1.6.2.1 Mexico Marine Composites Market by Composite type
10.1.6.2.2 Mexico Marine Composites Market by Type
10.1.6.2.3 Mexico Marine Composites Market by Vessel type
10.1.6.3 US Marine Composites Market
10.1.6.3.1 US Marine Composites Market by Composite type
10.1.6.3.2 US Marine Composites Market by Type
10.1.6.3.3 US Marine Composites Market by Vessel type
10.2. EUROPE
10.2.1 Europe Marine Composites Market Overview
10.2.2 Europe Marine Composites Market Forecasts and Analysis
10.2.3 Europe Marine Composites Market Forecasts and Analysis - By Composite type
10.2.4 Europe Marine Composites Market Forecasts and Analysis - By Type
10.2.5 Europe Marine Composites Market Forecasts and Analysis - By Vessel type
10.2.6 Europe Marine Composites Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Marine Composites Market
10.2.6.1.1 Germany Marine Composites Market by Composite type
10.2.6.1.2 Germany Marine Composites Market by Type
10.2.6.1.3 Germany Marine Composites Market by Vessel type
10.2.6.2 France Marine Composites Market
10.2.6.2.1 France Marine Composites Market by Composite type
10.2.6.2.2 France Marine Composites Market by Type
10.2.6.2.3 France Marine Composites Market by Vessel type
10.2.6.3 Italy Marine Composites Market
10.2.6.3.1 Italy Marine Composites Market by Composite type
10.2.6.3.2 Italy Marine Composites Market by Type
10.2.6.3.3 Italy Marine Composites Market by Vessel type
10.2.6.4 United Kingdom Marine Composites Market
10.2.6.4.1 United Kingdom Marine Composites Market by Composite type
10.2.6.4.2 United Kingdom Marine Composites Market by Type
10.2.6.4.3 United Kingdom Marine Composites Market by Vessel type
10.2.6.5 Russia Marine Composites Market
10.2.6.5.1 Russia Marine Composites Market by Composite type
10.2.6.5.2 Russia Marine Composites Market by Type
10.2.6.5.3 Russia Marine Composites Market by Vessel type
10.2.6.6 Rest of Europe Marine Composites Market
10.2.6.6.1 Rest of Europe Marine Composites Market by Composite type
10.2.6.6.2 Rest of Europe Marine Composites Market by Type
10.2.6.6.3 Rest of Europe Marine Composites Market by Vessel type
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Marine Composites Market Overview
10.3.2 Asia-Pacific Marine Composites Market Forecasts and Analysis
10.3.3 Asia-Pacific Marine Composites Market Forecasts and Analysis - By Composite type
10.3.4 Asia-Pacific Marine Composites Market Forecasts and Analysis - By Type
10.3.5 Asia-Pacific Marine Composites Market Forecasts and Analysis - By Vessel type
10.3.6 Asia-Pacific Marine Composites Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Marine Composites Market
10.3.6.1.1 Australia Marine Composites Market by Composite type
10.3.6.1.2 Australia Marine Composites Market by Type
10.3.6.1.3 Australia Marine Composites Market by Vessel type
10.3.6.2 China Marine Composites Market
10.3.6.2.1 China Marine Composites Market by Composite type
10.3.6.2.2 China Marine Composites Market by Type
10.3.6.2.3 China Marine Composites Market by Vessel type
10.3.6.3 India Marine Composites Market
10.3.6.3.1 India Marine Composites Market by Composite type
10.3.6.3.2 India Marine Composites Market by Type
10.3.6.3.3 India Marine Composites Market by Vessel type
10.3.6.4 Japan Marine Composites Market
10.3.6.4.1 Japan Marine Composites Market by Composite type
10.3.6.4.2 Japan Marine Composites Market by Type
10.3.6.4.3 Japan Marine Composites Market by Vessel type
10.3.6.5 South Korea Marine Composites Market
10.3.6.5.1 South Korea Marine Composites Market by Composite type
10.3.6.5.2 South Korea Marine Composites Market by Type
10.3.6.5.3 South Korea Marine Composites Market by Vessel type
10.3.6.6 Rest of Asia-Pacific Marine Composites Market
10.3.6.6.1 Rest of Asia-Pacific Marine Composites Market by Composite type
10.3.6.6.2 Rest of Asia-Pacific Marine Composites Market by Type
10.3.6.6.3 Rest of Asia-Pacific Marine Composites Market by Vessel type
10.4. SOUTH AND CENTRAL AMERICA
10.4.1 South and Central America Marine Composites Market Overview
10.4.2 South and Central America Marine Composites Market Forecasts and Analysis
10.4.3 South and Central America Marine Composites Market Forecasts and Analysis - By Composite type
10.4.4 South and Central America Marine Composites Market Forecasts and Analysis - By Type
10.4.5 South and Central America Marine Composites Market Forecasts and Analysis - By Vessel type
10.4.6 South and Central America Marine Composites Market Forecasts and Analysis - By Countries
10.4.6.1 Brazil Marine Composites Market
10.4.6.1.1 Brazil Marine Composites Market by Composite type
10.4.6.1.2 Brazil Marine Composites Market by Type
10.4.6.1.3 Brazil Marine Composites Market by Vessel type
10.4.6.2 Argentina Marine Composites Market
10.4.6.2.1 Argentina Marine Composites Market by Composite type
10.4.6.2.2 Argentina Marine Composites Market by Type
10.4.6.2.3 Argentina Marine Composites Market by Vessel type
10.4.6.3 Rest of South and Central America Marine Composites Market
10.4.6.3.1 Rest of South and Central America Marine Composites Market by Composite type
10.4.6.3.2 Rest of South and Central America Marine Composites Market by Type
10.4.6.3.3 Rest of South and Central America Marine Composites Market by Vessel type
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. MARINE COMPOSITES MARKET, KEY COMPANY PROFILES
12.1. MITSUBISHI RAYON CO. LTD.
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. HEXCEL CORPORATION
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. OWENS CORNING
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. CYTEC SOLVAY GROUP
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. E. I. DU PONT DE NEMOURS AND COMPANY
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. GURIT HOLDING
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. SGL GROUP
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. AIRBORNE
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. TEIJIN LIMITED
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. ZOLTEK COMPANIES INC.
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
The List of Companies
- Mitsubishi Rayon Co. Ltd.
- Hexcel Corporation
- Owens Corning
- Cytec Solvay Group
- E. I. Du Pont De Nemours and Company
- Gurit Holding
- SGL Group
- Airborne
- Teijin Limited
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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