Epoxy Resin Market in Marine Composites is Likely to Grow at 4.4% CAGR During 2018 to 2023, Says a Study by Stratview Research

DETROIT, August 9, 2018 /PRNewswire/ --

Stratview Research announces the launch of a new research report on Epoxy Resin Market in Marine Composites by Platform Type (Boats, Yachts and Others), by Application Type (Hulls, Mast & Stringers, Decks, Interiors, and Others), by Process Type (Prepreg Layup, Resin Infusion and Others) by Curing Type (Amine, Anhydride, and Others) and by Region (North America, Europe, Asia-Pacific and Others), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.

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This market report, from Stratview Research, studies the epoxy resin market in the global marine composites industry over the trend period of 2012 to 2017 and forecast period of 2018 to 2023. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

Epoxy Resin Market in Marine Composites: Highlights 

The marine industry has undergone a remarkable transition over a period with regards to the adoption of composite materials in various applications. Polyester composites dominate the overall marine composites market, owing to low cost coupled with moderate performance. However, in racing boats and yachts, epoxy resin is becoming the perennial choice of matrix system for manufacturing high-performance composite parts.

As per Stratview Research, the global epoxy resin market in marine composites is likely to grow at a healthy CAGR of 4.4% over the next five years. Superior mechanical properties, excellent adhesiveness, improved fatigue resistance, reduced water ingression, weight reduction, and excellent chemical resistance are some of the key drivers for the usage of epoxy resins in marine composites. In addition to that, the usage of epoxy resins in marine composite also reduces VOC emissions, which, in turn, would help composite part manufacturers to meet the stringent and US and EU standards. Other drivers are organic growth of boat and yacht retail sales, demand for lightweight boats and yachts, and increasing use of carbon fiber composites since epoxy resin is the ideal choice with carbon fiber.    

The research's findings suggest that boat segment is expected to remain the most dominant market during the forecast period, driven by higher production of boats globally and increasing usage of epoxy composites in high-speed racing boats to optimize strength-to-weight ratio of major components, such as hulls.

Based on the application type, the mast & stringers segment is likely to remain the most dominant application type in the epoxy resin market in marine composites during the forecast period. Carbon-epoxy is the most preferred composite material for making masts and stringers, whereas glass-polyester is for making hulls and decks.

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In terms of region, Europe dominates the global epoxy resin market in marine composites, owing to the presence of many prepreggers, part fabricators, and boat & yacht manufacturers. Selden Masts, Sunseeker International Ltd., Future Fibers, Marstrom Composites AB, Gurit Holding AG, and Hexcel Corporation are some of the major consumers of epoxy composites for the marine industry in the European region.

Major epoxy resin suppliers in marine composites are Aditya Birla Chemicals Ltd., Hexion Inc., Huntsman Corporation, Olin Corporation, Sicomin Epoxy Systems, and Wessex Resin and Adhesives Ltd.  

Report Features 

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

This report studies global epoxy resin market in marine composites industry and has segmented the market in five ways, keeping in mind the interest of all the stakeholders across the value chain. The following are the five ways in which the market is segmented:

Epoxy Resin Market in Marine Composites by Platform Type: 

• Boats (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Yachts (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Epoxy Resin Market in Marine Composites by Application Type: 

• Hulls (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Mast and Stringers (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Decks (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Interiors (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW) 

Epoxy Resin Market in Marine Composites by Process Type: 

• Prepreg Layup (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Resin Infusion (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Epoxy Resin Market in Marine Composites by Curing Type: 

• Amine (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Anhydride (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Epoxy Resin Market in Marine Composites by Region:  

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: France, The UK, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Taiwan, Australia, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Latin America, The Middle-East, and Others)

Stratview Research has several high value market reports in the composites industry. Please refer to the following link to browse through our reports:  

Click Here for Other Reports from Stratview Research in the Composites Industry

Related premium market reports in the advanced materials industry are: 

Global Epoxy Resin Market in Pressure Vessels for Alternative Fuels by Vessel Type, by Application Type, by Vehicle Type, and by Region, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2017 - 2022
High-Temperature Composite Resins Market by Resin Type, by End-Use Industry Type, by Manufacturing Process Type, and by Region, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023

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We have a strong team of industry veterans and analysts with an extensive experience in executing custom research projects for mid-sized to Fortune 500 companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, Go to Market Strategy, and Voice of Customer studies.

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