Boat Builders Spur Growth in Marine Composites Market

Press Release
Friday, March 08, 2013

New analysis from Frost & Sullivan, 'Strategic Analysis of the Global Marine Composites Market', indicates steady growth to continue.

According to the research, recreational boat builders are beginning to gain trust in composites that help reduce weight, create higher impact strength, enhance fuel efficiency and design flexibility for their vessels. As such, this has stimulated the global marine composite market. This market will continue to grow steadily as technological advancements reduce the cost of manufacturing marine composite parts and encourage further adoption.

The market earned revenue of more than $940 million in 2012 and estimates this to reach approximately $1.5 billion in 2018. The research covers polymer matrix composites (PMCs) and foam core materials used in marine recreational vessels, such as powerboats, sailboats, jetboats and personal watercrafts.

The increasing incorporation of composites in large marine recreational vessels by manufacturers to offset extra weight and enhance fuel efficiency has boosted the global marine composite market.

"Due to their superior performance, composites like carbon fiber reinforced polymers and glass fiber reinforced polymers are becoming more popular than traditional materials such as steel or aluminum," said Frost & Sullivan Industry Analyst Sandeepan Mondal . "For instance, a 35-foot yacht's primary load-bearing structures, such as the hull, rig and deck, are made out of a carbon and epoxy composite and a carbon and polyurethane foam core sandwich, resulting in significant weight reduction, as well as greater strength and firmness."

Developing and marketing composite solutions that comply with evolving styrene legislations and possess faster processing time will strengthen competitive advantage in the long term.

Despite these benefits, the poor reparability and recyclability of composites can restrain their adoption to an extent. Styrene legislations limit the uptake of low-cost polyesters, and the perception that composites are expensive further curbs new investments in the manufacturing of composite marine parts. These cost concerns, along with the economic downturn, also forced several small boat builders to exit the market, restricting the growth in use of advanced composites to larger vessels during 2008 to 2010.

The report can be accessed via this link.


Maritime Reporter September 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Marine Materials

Kalmar to Upgrade MSC Terminal VLC (Valencia) Cranes

Kalmar, part of Cargotec, has announced a large contract to heighten and extend the handling capabilities of eight ship-to-shore (STS) cranes at MSC Terminal VLC in Valencia, Spain.

Wärtsilä Debuts Package for hydropower & industrial plant

Wärtsilä Corporation, a global leader in complete lifecycle power solutions for the marine and energy markets, expands into a new market segment, offering a comprehensive package of seals,

Demands for Icebreaker Tours Spiral

Plans to terminate commercial tours to the North Pole on the nuclear-powered icebreakers of the Atomflot company in 2016 have surged the demand for these tours.


Regulations for Singapore's Kusu Pilgrimage Season

The 2015 Kusu Pilgrimage season will commence on 13 October 2015 and end on 11 November 2015. During this period, many ferries and harbour craft carrying

Steel Processing for largest Sail Boat Begins

Processing of steel for Hull 483 started on sheet-cutting machine in Shipbuilding Industry Split on 22 September 2015. It is the largest square-rigged ship contracted for a Monaco buyer,

Volvo Penta Wins NMMA's CSI Award

The National Marine Manufacturers Association (NMMA) this week presented the 12th consecutive Customer Satisfaction Index (CSI) award to Volvo Penta recognizing

Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2697 sec (4 req/sec)