TechNavio recognizes the following companies as the key players in Global Marine Composites Market: Cytec Industries Inc., Hexcel Corp., Mitsubishi Rayon Co. Ltd., Toray Industries Inc., and Zoltek Companies Inc.
Commenting on the report, an analyst from TechNavio’s team said: “The rapid growth of emerging economies offers huge growth potential for the Global Marine Composites market. Despite the global economic slowdown, growth in the Southeast Asia and Pacific regions has been robust. In China and South Korea, the growth has been largely due to the massive expansion of the Marine industry. In the coming years, the overall growth in these countries is expected to soar. In developed countries, composites are increasing in value as companies seek sophisticated and purpose-built materials for high-performance applications. However, increased competition and saturation in developed countries have forced many global marine composite firms to shift their focus to emerging economies to find new avenues for growth. This creates opportunities for various marine composite products and solutions in emerging markets.”
According to the report, one of the major drivers is the increasing demand for marine composites for use in the manufacture of sailboat and powerboat components.
Further, the report states that one of the major challenges in this market is the limited number of specialized boat manufacturing yards that can process and utilize advanced marine composites in boat manufacturing.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-marine-composites-market-2014-2018
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/healthcare-chemicals-food-retail
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TechNavio Announces the Publication of its Research Report – Global Marine Composites Market 2014-2018
