Title: Marine Composites Market - Forecast (2022 - 2027)
1Marine Composites MarketMarket size, Industry
outlook, Market Forecast, Demand Analysis, Market
Share, Market Report 2022 - 2027
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- The marine composites market globally is forecast
to reach US4.2 billion by 2026, growing at a
CAGR of 5.5 during 2021-2026. - The shipbuilding industry's incredible demand for
corrosion-resistant, lightweight, and
high-strength components is expected to spur
marine composites market growth. - Also, the surge in demand for high-speed and
fuel-efficient boats is projected to further
expand the market. - Composites have been widely used in the marine
industry because of their excellent resistance
quality.
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- Key Takeaways
- Increase in demand for high-speed boats due to
the increased recreational activities are
boosting the growth of the marine composites
market. - Increasing footfalls in the tourism industry is
expected to increase the demand for cruise ships,
which, in turn, will uplift the marine composites
market. - Asia Pacific region is projected to witness
further growth in the marine composites market
during the forecast period. - Marine composite market is expected to recover
from COVID-19 impact with a slow, but steady
growth during the forecast period.
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By Distribution Channel- Segment Analysis Owing
to its excellent properties and large-scale
applications required for the marine industry,
Polymer matrix composite dominated the market in
2020. Polymer matrix composite offers excellent
impact resistance, corrosion resistance, and
lightweight property, which makes it suitable for
use in ship manufacturing. Also, due to its great
design flexibility property, polymer matrix
composite has made good inroads in the marine
industry. Furthermore, polymer matrix composite
has low manufacturing costs and can be
manufactured easily as compared to Metal Matrix
Composite and Ceramic Matrix Composite.
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- Marine Composites Market Outlook
- Toray Industries, Inc.
- Cytec Industries (Solvay S.A)
- Teijin Limited
- Hexcel Corporation
- SGL Group
- E. I. DuPont Nemours Co.
- Zoltek Corporation
- Mitsubishi Rayon Co.
- Gurit Holding
- 3A Composites
- Hyosung, among others.
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Marine Composites Market Forecast (2022 -
2027) Learn More About the Report _at_
https//www.industryarc.com/Research/Marine-Compos
ites-Market-Research-500346
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- You Can Customize the Report as Per Your Need.
We have included Some Customization Options - Company Profile
- Analyst Briefing
- Data Tables
- Key Contacts
- Free Customization
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Contact (1) 970-236-3677
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