Increasing Production of Leisure Boats
The leisure boat industry includes runabouts, towboats, fishing boats, sail boats, pontoon boats, stern drive power boats, jet boats, personal watercraft, propulsion systems, and cabin cruisers. There has been a growing demand for leisure boats around the world in the recent years, which, in turn, ignites the demand for marine composites in the leisure boats industry. The prospects of the global recreational boating industry look promising, with opportunities in the inboard and stern drive, outboard, and sailboat. The marine composites market is anticipated to grow significantly in the future, owing to the tremendous growth of the tourism industry worldwide.
Glass Fiber Reinforced Composites Segment to Dominate the Market
Marine composites are one of the first significant application segments of glass fiber reinforced composites. Fiberglass has been the common material for recreational boats and yachts for many years due to the good environmental resistance, better damage tolerance for impact loading, high specific strength, and stiffness. Since carbon fiber is too expensive for the application of large structures, glass fiber presents the most commercially viable solution for marine applications. As of 2017, the glass fiber reinforced composites segment accounted for the largest share of the global marine composite market.
Asia-Pacific to Dominate the Market Growth
The emerging boat-building industry in Asia-Pacific (Mainland China, India, and South Korea) is expected to fuel the demand for marine composites in the future. The increasing scope of out of autoclave prepreg and the bio-based composites market are expected to open new opportunities for marine composites during the forecast period. North America accounted for the largest share of the global marine composite market in 2017.
Key Developments in the Market
March 2018: Hexion announced potentially path breaking one-shot resin infusion process for marine composites.
January 2018: Toray reached an agreement with Koninklijke Ten Cate B.V. to purchase all its subsidiaries at USD 1.15 billion.
Major Players: DowDuPont, Toray Industries, Inc., Cytec Solvay Group, Airex AG, Gurit, Branagh Marine Composites, and Hexion, amongst others.
Reasons to Purchase the Report
- Identify the current and future prospects of the global marine composite market in the developed and emerging markets
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- Information of the segment that is expected to dominate the market
- Identify the region that is expected to witness fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3 month analyst support, along with the Market Estimation sheet (in Excel)
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1.1 Research Phases
1.2 Scope of the Report
1.3 Study Deliverables
2. Executive Summary
3. Market Insights
3.1 Industry Value-Chain Analysis
3.2 Industry Attractiveness – Porter’s Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
3.3 Raw Material Analysis
3.4 Technological Snapshot
4. Market Dynamics
4.1.1 Increasing Production of Leisure Boats
4.1.2 Rising Demand for Reparable Composites
4.2.1 High Raw Material and Fabrication Cost
4.2.2 Increased Usage of High Standard Durable Products
4.3.1 Rising Demand of Bio-Composites
4.3.2 Technological Advancements
5. Market Segmentation and Analysis (Market Size, Forecast, and CAGR)
5.1 By Type
5.1.1 Glass Fiber Reinforced Composites
5.1.2 Carbon Fiber Reinforced Composites
5.1.3 Foam Core Materials
5.1.4 Hybrid Composites
5.2 By Application
5.2.1 Power Boats
5.2.2 Cruise Ships
5.2.3 Personal Watercrafts
5.2.5 Sail Boats and Race Boats
6. Regional Market Analysis (Market Size, Forecast, and CAGR)
6.1.4 South Korea
6.1.5 Australia & New Zealand
6.1.6 Rest of Asia-Pacific
6.2.5 Nordic Countries
6.2.6 Rest of Europe
6.3 North America
6.3.4 Rest of North America
6.4 South America
6.4.3 Rest of South America
6.5 Middle East and Africa
6.5.1 Saudi Arabia
6.5.3 Rest of Middle East and Africa
7. Future of the Market
8. Competitive Landscape
8.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
8.2 Market Share Analysis**
8.3 Strategies Adopted by Leading Players
9. Company Profiles (Overview, Financials**, Products & Services, and Recent Developments)
9.2 Advanced Custom Manufacturing
9.3 Aeromarine Industries Ltd
9.4 Airex AG
9.5 AMRC Sheffield
9.6 Branagh Marine Composites
9.7 Brodene AA
9.8 Composites One
9.9 Cytec Solvay Group
9.12 Janicki Industries, Inc.
9.13 Marine Concepts
9.14 Marine Plastics Innovations, Inc.
9.15 Mitsubishi Chemical Holdings Corporation
9.17 Owens Corning
9.19 SGL Group The Carbon Company
9.20 Siemens AG
9.21 Teijin Limited
9.22 Toray Industries, Inc.
*list not exhaustive
** Subject to Availability in Public Domain
- Advanced Custom Manufacturng
- Aeromarine Industries Ltd
- Airex AG
- AMRC Sheffield
- Branagh Marine Composites
- Brodene AA
- Composites One
- Cytec Solvay Group
- Janicki Industries Inc.
- Marine Concepts
- Marine Plastics Innovations Inc.
- Mitsubishi Chemical Holdings Corporation
- Owens Corning
- Owens Corning
- SGL Group The Carbon Company
- Siemens AG
- Teijin Limited
- Toray Industries Inc.