Marine Composites Market Size Worth USD 5.65 Billion by 2034, Growing at 4.3% CAGR from USD 3.86 Billion in 2025

Growing adoption of lightweight marine composites boosts fuel efficiency, durability, and vessel performance worldwide

NY, UNITED STATES, February 10, 2026 /EINPresswire.com/ -- According to Fortune Business Insights, the marine composites market size was valued at USD 3.86 billion in 2025 and is projected to grow from USD 4.03 billion in 2026 to USD 5.65 billion by 2034, exhibiting a CAGR of 4.3% during the forecast period.

The global marine composites market is witnessing consistent growth as shipbuilders and vessel manufacturers increasingly adopt lightweight, corrosion-resistant, and high-strength materials to improve vessel performance and operational efficiency.

Marine composites are engineered materials combining fibers and resins to deliver superior strength-to-weight ratios, corrosion resistance, and durability. These properties make them ideal for power boats, sailboats and yachts, commercial vessels, cruise ships, and offshore marine structures. As marine operators seek improved fuel efficiency, reduced emissions, and longer service life, composite materials are increasingly replacing traditional metals such as steel and aluminum in both recreational and commercial marine construction.

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Market Segmentation
By Fiber Type
Based on fiber type, the marine composites market is segmented into Glass Fiber Reinforced Plastic (GFRP), Carbon Fiber Reinforced Plastic (CFRP), and others.
The GFRP segment dominated the market in 2025, owing to its strong balance of mechanical strength, corrosion resistance, and cost-effectiveness. GFRP is widely used in hulls, decks, and structural components of power boats, sailboats, and workboats. Its ease of processing and compatibility with common manufacturing techniques such as resin infusion and hand layup make it the preferred material for high-volume marine applications.

By Resin Type
By resin type, the market is segmented into polyester, vinyl ester, epoxy, and others.
The polyester resin segment held the largest share in 2025, supported by its low cost, good mechanical properties, and ease of processing. Polyester resins are extensively used in recreational boats and workboats, particularly in combination with glass fibers.

By Application
By application, the market is categorized into power boats, sailboats & yachts, commercial & workboats, cruise ships & large passenger vessels, offshore & marine structures, and others.
The power boats segment accounted for the largest market share in 2025, driven by extensive use of composites in performance-oriented hull and deck structures. Composites enable complex hull shapes, enhanced hydrodynamics, and reduced vessel weight, resulting in better speed, fuel efficiency, and handling.
The offshore & marine structures segment is expected to grow at a notable pace over the forecast period, supported by increased use of composites in subsea structures, platforms, and marine infrastructure due to their corrosion resistance and durability in harsh environments.

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Key Players
Major companies operating in the global marine composites market include:
Owens Corning (U.S.)
Toray Industries, Inc. (Japan)
Hexcel Corporation (U.S.)
Gurit Holding AG (Switzerland)
Mitsubishi Chemical Corporation (Japan)
SGL Carbon (Germany)
Hexion Inc. (U.S.)
Huntsman International LLC (U.S.)
AOC (U.S.)
Scott Bader Company Ltd (UK)

Report Coverage
The report provides a comprehensive analysis of the marine composites market, including market size, growth trends, and forecasts across all major segments. It covers detailed market dynamics, technological advancements, new product launches, partnerships, and mergers and acquisitions. The study also includes an in-depth competitive landscape with company profiles, market share analysis, and strategic initiatives of leading players. Additionally, the report evaluates regional performance and identifies key growth opportunities across global markets.

Drivers and Restraints
Market Drivers
A major growth driver for the marine composites market is the increasing demand for lightweight and fuel-efficient vessel designs. Composites offer superior strength-to-weight ratios compared to traditional materials, enabling reduced fuel consumption, improved vessel speed, and enhanced operational efficiency.
Rising environmental regulations and efficiency standards are encouraging shipbuilders to adopt materials that support lower emissions and improved fuel economy. Additionally, composites provide excellent corrosion resistance, reducing maintenance costs and extending vessel lifespan.

Market Restraints
Despite strong growth prospects, the market faces challenges related to high material costs and complex manufacturing processes. Marine composites require specialized tooling, skilled labor, and controlled production environments, which increase overall manufacturing costs.
These factors are particularly restrictive for cost-sensitive commercial and workboat segments, where budget constraints and predictable production cycles are critical. Limited availability of skilled technicians and specialized repair infrastructure further restrains broader adoption.

Regional Insights
North America dominated the marine composites market in 2025, supported by a large recreational boating industry and strong domestic boat production in the United States. High demand for fiberglass-based power boats and sport craft continues to drive composite consumption in the region.
Europe represents a significant market, driven by strong yacht and sailboat manufacturing in countries such as Italy, France, Germany, and the Netherlands. The region shows increasing adoption of advanced composites, including carbon fiber, for high-performance and luxury vessels.
Asia Pacific is a fast-growing market, led by China, Japan, and South Korea. Expanding shipbuilding capacity, rising coastal tourism, and growing use of composites in commercial and offshore applications support regional growth.
Latin America is an emerging market, with Brazil and Mexico leading demand for small recreational boats and sport fishing vessels. Composite boats are favored for their durability and resistance to corrosion in tropical environments.
Middle East & Africa shows gradual growth, supported by marina development, yacht ownership, and offshore activities, particularly in Gulf countries. Increasing investment in waterfront tourism is expected to further support composite adoption.

Key Industry Developments
Recent industry developments highlight strong innovation and sustainability focus:
March 2025: Arkema partnered with Groupe Beneteau and other companies to develop recyclable composite solutions for boat manufacturing using Elium resin and recycled glass fibers.
September 2025: Gurit announced expansion of its Corecell structural foam production to support subsea and marine applications.
February 2025: Scott Bader introduced new Crestapol resin systems designed to improve bonding efficiency and reduce surface preparation in boatyards.

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Ashwin Arora
Fortune Business Insights™ Pvt. Ltd.
+1 833-909-2966
sales@fortunebusinessinsights.com

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