Marine Composites Market Key Opportunities and Forecasts To 2022: Grand View Research, Inc

Globally increasing high speed boats demand is expected to be a key driving factor for marine composites market demand over the next seven years. Foam core materials, carbon fiber composites and glass fiber composites are the major marine composite products while key marine composite applications include cruise ships, sail boats, speed boats and power boats manufacturing. Power boat manufacturing was the major marine composite end-use market in the past few years. Carbon fiber composite market is projected to witness considerable growth rate over the forecast period. Marine composite properties such as reduced weight & design flexibility and increased fuel efficiency provide marine composites a competitive edge over its conventional counterparts. Declining manufacturing costs owing to technological up gradation and advancement is expected to complement marine composites market growth.
http://www.grandviewresearch.com/industry-analysis/marine-composites-market