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Marine Structural Core Materials Market is Forecast to Reach US$ 180 Million in 2026, Says Stratview Research
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The global Marine Structural Core Materials market is segmented based on boat type, core material type, and region.
- The marine structural core materials market is segmented as outboard boats, sterndrive boats, PWC, and others. The during the forecast period. There has been a growing penetration of fiberglass boats in the outboard category. Also, there has been a paradigm shift from sterndrive to outboard boats.
The market is segmented as PVC, SAN, PET, and others. during the forecast period. Key driving factors of PVC foam core are moisture resistance and cost-effectiveness with excellent durability. PET held the smallest share of the market in 2020; however, it is anticipated to experience the fastest growth during the forecast period. SAN holds a fair share but there has been a gradual shift from SAN to PVC and PET cores.
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The report suggests that for Marine Structural Core Materials during the forecast period. This growth is majorly attributed to the following:
Likewise, the with strong potential from China and Japan .
Some of the key drivers listed in the report are given below.
The U.S. being a developed economy has a high disposable income, where people often indulge in luxuries like powerboats. In addition to this, most areas in the United States of America have favorable boating conditions, including access to lakes, rivers, and oceans, making it an attractive activity for many. Consequently, the U.S. has emerged as a hub for powerboat manufacturers.
When compared to traditional materials like wood or metal, composites are widely used in the construction of powerboats. Some of the key reasons are:
Composites are relatively lighter than other materials, thereby enhancing the boat's performance, handling, and supporting fuel efficiency. Additionally, unlike metals, composites do not corrode, making them suitable for use in harsh marine environments.
The aforementioned factors are some of the main reasons why powerboat manufacturers are using composite cores for the construction of boats.
Realizing the grave need to reduce carbon emission levels and promote sustainability, governments in many countries are encouraging the use of recyclable materials to manage waste disposal and pollution levels. Pertaining to the construction of boats, governments in many countries have passed laws stressing on the need for industry players to adopt sustainable practices. For instance, the Clean Marina Program in the U.S. is a voluntary program that aims at encouraging marinas to adopt environmentally sustainable practices, including the use of recyclable materials.
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The following are the key players in the marine structural core materials market. Most of the major players are providing core materials for other end-use industries too.
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