Research and Markets has released the “Marine Composites Market by Type, by Application - Global Trends and Forecasts to 2019” report, which considers its three commonly used applications: power boats, cruise ships, and sail boats.
The marine composites market is estimated to witness a CAGR of 8.96% between 2014 and 2019, and is projected to generate a market size, in terms of value of USD 4,975.66 million by 2019.
This report on Marine Composites considers its three commonly used applications: power boats, cruise ships, and sail boats. The marine composites industry is witnessing high growth because of increasing applications, technological advancements, and growing demand in the Asia-Pacific region.
Power boats are the largest application of marine composites across the world. The market size, in terms of value for the same is projected to reach USD 2,628.98 million by 2019. The demand for high fuel efficient vehicles is growing at a high rate. This is due to the products, such as carbon fiber composites and foam core materials that are expected to find high demand in their applications.
The key participants in this market are Toray Industries (Japan), Mitsubishi Rayon Co. Ltd (Japan), Owens Corning (US), 3A composites (Switzerland), Cytec Industries Inc (US), E. I. Du Pont de Nemours and Company (US), Gurit Holding Ag (Switzerland), Hexcel Corporation Inc. (US), SGL Group (Germany), and Teijin Limited (Japan).