Maryland, United States
The marine composites market expansion can be ascribed to increase in recreational boating in Europe and North America, which has resulted in a high demand for marine composites for use in power boats. Due to increased demand for lightweight and corrosion-resistant boats, the industry has grown significantly in recent years. The global marine composites market is projected to reach US$ 5 Billion by 2031.
Marine composites are projected to have increased demand in the coming years due to their multifunctional features.
The enormous growth of the maritime industry around the world is one of the primary reasons driving the market's favorable outlook. Additionally, rising demand for high-speed, high-power, and high-luxury boats and yachts is boosting market growth.
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