Marine Composites Market Worth $5.29 Billion by 2025 | CAGR: 5.0%: Grand View Research, Inc.

Key suggestions from the report: Key suggestions from the report: Read 160 page research report with ToC on "Marine Composites Market Size, Share & Trends Analysis Report By Composites (Ceramic, Metal, Polymer ((By Fiber (Glass, Carbon), By Resin (Polyester, Epoxy)), By Application, And Segment Forecasts, 2019 - 2025" at:https://www.grandviewresearch.com/industry-analysis/marine-composites-market Based on Composites, polymer matrix Composites is expected to dominate the...

SAN FRANCISCO, 18/11/2019 (informazione.news - comunicati stampa - trasporti)

Based on Composites, polymer matrix Composites is expected to dominate the market over the forecast period owing to the high strength, excellent corrosion resistance, light weight, and impact resistance, which makes it more suitable to use in marine industry. Ceramic matrix Composites is expected to be the fastest growing segment during the forecast period.

Demand for marine Composites is cruise ships are expected to witness substantial growth over the forecast period. The segment is expected to register a CAGR of 4.4% from 2019 to 2025. Power boat is expected to be the second largest vessel type segment accounting for 18.4% of revenue share in the marine composites market. Increasing demand for lightweight, high strength, impact resistance material in power boats expected to boost demand for marine Composites over the forecast period.

In terms of revenue, Asia Pacific expected to have highest demand for marine Composites owing to the increasing demand for recreational boats in China , India , South Korea , and Japan . In 2018, the region is expected to account for 39.0% of the overall market share. Europe was the second largest market and expected to grow with a CAGR of 3.26% over the forecast period.

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco , the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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