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    Marine Structural Core Materials Market Growth Analysis

    Marine Structural Core Materials Market Growth Analysis
    Report code - SR1132 Published On : Jul,2023 No. of Pages: 110
    Marine Structural Core Materials Market Size, Share, Trend, Forecast, Competitive Analysis See more...

    Market Highlights

    Stratview Research estimates the global marine structural core materials market may record an impressive CAGR of 4.1% over the next five years to reach US$ 203 Million in 2028. Boating is a preferred choice for recreation in the New Normal, there has been a surge in the number of first-time buyers amid the pandemic. Based on recent NMMA estimates, about 415,000 first-time boat buyers entered the market in the USA in 2020.

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    What are core materials?

    Core materials refer to the central component of sandwich construction. The well-known core materials used in sandwich construction are honeycomb, foam, and balsa. This core material absorbs the shear forces generated by out-of-planeloads, distributing between the skins and spreading them over a larger area while maintaining the skins at a fixed distance. The core’s function is to support the skins so that they do not deform inwardly or outwardly to keep them in a relative position to each other. The core materials can be made of a variety of materials such as wood, aluminum, and a variety of foams.

    Market Drivers

    • The market witnessed a growth of 12.2% in 2022 due to the growing USA’s powerboat sales.
    • Increased preference for outdoor recreational activity amid the pandemic.
    • Excellent performance of composites is likely to help the stakeholders to log the quick market recovery.
    • Increasing usage of recyclable materials in the market.

    Segment Analysis

    Segmentations

    List of Sub-Segments

    Dominant and Fastest-Growing Segments

    Boat -Type

    Outboard Boats, Sterndrive Boats, PWC, and Others

    Outboard Boat is expected to remain the biggest demand generator for core materials during the forecast period.

    Core Material -Type

    PVC, SAN, PET, and Others

    PVC is expected to remain the most dominant material type in the market during the forecast period due to cost-effectiveness and moisture resistance.

    Regional Analysis

    North America, Europe, Asia-Pacific, and the Rest of the World

    North America is expected to remain the largest market over the next five years, whereas Asia-Pacific is likely to grow at the fastest rate during the same period.

    Boat Trends

    The marine structural core materials market is segmented into outboard boats, sterndrive boats, PWC, and others. The outboard boat is expected to remain the biggest demand generator for core materials during the forecast period. There has been a growing penetration of fiberglass boats in the outboard category. Also, there has been a paradigm shift from sterndrive to outboard boats.

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    Core Material Trends

    The market is segmented into PVC, SAN, PET, and Balsa. PVC is expected to remain the most dominant material type in the market during the forecast period. PVC foam core offers excellent moisture resistance and cost-effectiveness with excellent durability. PET foam core held the smallest share of the market in 2022; however, it is anticipated to experience the fastest growth during the forecast period. SAN holds a fair share but there has been a gradual shift from SAN and PVC to PET foam cores.

    Regional Analysis

    North America is expected to remain the largest market for marine structural core materials during the forecast period. The region is the largest producer of recreational boats. In 2022, there were total sales of nearly 250 thousand boats (Outboard, Sterndrive, Inboard, PWC, Jetboats, etc.) in the USA. Asia-Pacific is likely to witness the fastest growth during the forecast period with strong potential from China and Japan.

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    Key Players

    The market is fairly consolidated with the presence of some regional and global players. The following are the key players in the marine structural core materials market. Most of the major players are providing core materials to other end-use industries too.

    • DIAB International AB
    • Gurit Holding AG
    • 3A Composites GmbH
    • Armacell International
    • Changzhou Tiansheng New Materials Co. Ltd.
    • Maricell S.r.l.
    • I-Core Composites
    • Carbon-Core Composites

    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 into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What deliverables will you get in this report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth analysis of the Marine Structural Core Materials Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional and country level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s marine structural core materials market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    The marine structural core materials market is estimated to grow at a CAGR of 4.1% by 2028 driven by increased preference for outdoor recreational activity amid the pandemic, excellent performance of composites, and increasing usage of recyclable materials in the market.

    The marine structural core materials market has reached a landmark figure of US$ 203 million by 2028.

    The market witnessed a growth of 12.2% in 2022 due to the growing USAs powerboat sales, increased preference for outdoor recreational activity amid the pandemic, and excellent performance of composites are likely to help the stakeholders to log the quick market recovery.

    North America is estimated to remain dominant in the marine structural core materials market in the foreseen future.

    DIAB International AB, Gurit Holding AG, and 3A Composites GmbH, Armacell International, Changzhou Tiansheng New Materials Co. Ltd. (China), Maricell S.r.l., I-Core Composites, and Carbon-Core Composites are the leading players in the marine structural core materials market.