Global Marine Composites Market 2016 - Forecasts to 2020 with 3A Composites, Cytec, DuPont, Mitsubishi Rayon (MRC) & Owens Corning Dominating

Dublin, Oct. 27, 2016 -- Research and Markets has announced the addition of the "Global Marine Composites Market 2016-2020" report to their offering.

The global marine composites market to grow at a CAGR of 6.04% during the period 2016-2020.

The report covers the present scenario and the growth prospects of the global marine composites market for 2016-2020. To calculate the market size, the report considers the consumption of marine composites products for applications in powerboats, sailboats, cruise ships, and others (personal watercraft and race boats).

Boat manufacturing operations were severely affected by the economic recession of 2009-2010. The market recovered substantially from 2013. Globally, the boat manufacturing industry is expected to grow at a CAGR of 4%-5% during the forecast period. Although GFRP polyesters and vinyl esters are the major materials employed by boat manufacturers, the use of CFRP composites is increasing, particularly in the construction of large yachts.

According to the report, the global demand for small boats is anticipated to grow at a CAGR of 5% during the forecast period. The total value of recreational boat sales was estimated to be $3.7 billion in 2015. It is anticipated that small boats will require more advanced composites, such as CFRP. Small boats are anticipated to see high demand in Europe and North America, particularly the US and the UK.

Further, the report states that there are several disadvantages associated with the use of composites in the marine industry. Raw material and their fabrication cost have become a major challenge in the adoption of composites in the marine industry. These composites are expensive than their metal counterparts due to the high price of carbon fibers, glass fibers, and foam core materials. Furthermore, the tooling and capital costs of composites are higher than the metal counterparts, which increase the overall cost of composites. For instance, the price of steel per autobody is around $950-$980, whereas the price of carbon fiber per autobody is around $2,400-$2,500.

Key questions answered in this report

• What will the market size be in 2020 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors?

Key vendors

• 3A Composites
• Cytec
• DuPont
• Mitsubishi Rayon (MRC)
• Owens Corning

Other prominent vendors

• Gurit
• Hexcel
• SGL Group
• Teijin
• Toray Industries

Key Topics Covered:

Part 01: Executive summary

Part 02: Scope of the report

Part 03: Market research methodology

Part 04: Introduction

Part 05: Market landscape

Part 06: Market segmentation by product material

Part 07: Market segmentation by resin type

Part 08: Market segmentation by application

Part 09: Market segmentation by geography

Part 10: Market drivers

Part 11: Impact of drivers

Part 12: Market challenges

Part 13: Impact of drivers and challenges

Part 14: Market trends

Part 15: Vendor landscape

Part 16: Appendix

For more information about this report visit http://www.researchandmarkets.com/research/xhgbj3/global_marine

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         Related Topics: Shipbuilding and Ship Parts, Composites