Research Nester published a report titled “Marine Composites Market: Global Demand Analysis & Opportunity Outlook 2036” which delivers detailed overview of the global marine composites market in terms of market segmentation by composite type, fiber type, resin type, vessel type and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The global marine composites market is anticipated to grow with a CAGR of ~6.2% during the forecast period, i.e. 2024-2036. The market is segmented by vessel type into power boats, sailboats, cruise ships, cargo vessels, naval boats, jet boats, personal watercraft, and others. Out of these, the cargo vessels segment is expected to garner the highest market share by 2036, owing to prevalence of ocean shipping worldwide which could be possible with cargo vessels. It is estimated that around 80% of the goods are transported by ships across the world.

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The global marine composites market is estimated to garner a moderate revenue by the end of 2036. The recent high demand for high-speed sea vehicles across the globe is expected to act as one of the major factors driving the growth of marine composites market. Also, the inclination towards marine composites owning its better properties and great advantages is expected to bring lucrative market growth. Furthermore, the rise in demand for high speed, power and luxury boats and yachts is projected to accelerate the market growth. The high rate of utilization of marine composites for manufacturing recreational boats that have a fuel-efficiency, lower magnetic signature, improved noise damping features and high strength-to-weight ratio is further forecasted to influence the market.

Geographically, the global paper pigments market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in Asia Pacific is projected to garner the largest share by the end of 2036. The high dependence on seaborne trade, presence of high fleets, followed by growing technological advancements in the region are some of the major factors that are expected to drive the market growth in Asia Pacific.

The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.

High Dependency on Seaborne Trade to Drive the Market Growth

The surge in investments, rapid industrialization, and marine transportation activities and cargo movement across borders is anticipated to positively affect the marine composites market. Furthermore, technological innovations to minimize the manufacturing cycle time also extend profitable opportunities to the market players in the forecast period of 2024 to 2036.

However, the slow rate of integration of land and water trade and increased costs of manufacturing along with stringent government rules is expected to operate as key restraint to the growth of the global marine composites market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global marine composites market which includes company profiling of Owens Corning, SGL CARBON SE, Toray Industries, Inc., Solvay Group, Mitsubishi Chemical Corporation, Teijin Aramid BV, Hexcel Corporation, DuPont de Nemours, Inc., Zoltek Corporation, Premier Composite Technologies LLC, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global marine composites market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.    

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