Composites Market in the Global Personal Watercrafts Industry to experience an impressive growth of 5.8% during 2016–2021

The Composites Market in the Global Personal Watercrafts Industry: Highlights

One sector of the watersports world that uses composites extensively is personal watercraft. Almost all major personal watercraft manufacturers are heavily relying on the composite materials for their structural applications. Composites offer many advantages, such as lightweight, superior strength, higher durability, and ability to withstand extreme temperature.

The Growth Prognosis & its Drivers

The composites market in the global personal watercrafts industry offers a healthy growth opportunity and is likely to grow at 5.8% CAGR during the forecast period of 2016 to 2021. Healthy growth in personal watercraft sales, driven mainly by increasing demand in the North American market and increasing use of composites in the personal watercrafts are the key growth drivers of the composites in the global personal watercrafts industry.

Market Segments

LFI and SMC are expected to remain the dominant manufacturing processes for composite parts fabrication in the personal watercrafts industry. Glass fiber is widely used in most of the composite applications in the personal watercrafts industry.

North America is expected to remain the largest market for composites in the global personal watercrafts industry due to high demand of watersports equipment in the USA and Canada.

Players

The supply chain of this market comprises raw material manufacturers, composite part manufacturers, and personal watercrafts OEMs. The key raw material suppliers are Owens Corning, PPG Fiberglass, and Ashland and key personal watercrafts manufacturers are Yahama Motors, BRP Inc, Honda Motors, and Kawasaki Motors.

The composite products for personal watercrafts, such as hull decks are produced by independent manufacturers as well as personal watercraft OEMs. Many personal watercraft manufacturers have in-house composites manufacturing capacity, such as Yahama, Kawasaki, and BRP. The key composite part manufactures in the global personal watercrafts industry are Yahama Motors, Roski Composites, Kawasaki Motors, BRP Inc., and Honda Motors. New product development and upgradation of existing technologies are key strategies adopted by the key players to gain competitive edge in the market.

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