The leisure boat enterprise consists of runabouts, towboats, fishing boats, sailboats, pontoon boats, stern power electricity boats, jet boats, personal watercraft, propulsion structures, and cabin cruisers. In recent years, there has been a developing call for amusement boats around the arena, which ignites the demand for marine composites within the enjoyment boat industry. The global recreational boating industry possibilities look promising, with opportunities in the inboard and stern force, outboard, and sailboat. As of 2017, the glass fiber reinforced composites phase accounted for the biggest proportion of the worldwide marine composite market.
The international Composite Materials inside the Coating market were worth xx million US$ in 2018 and are expected to reach xx million US$ by the end of 2025, developing at a CAGR of xx% throughout 2019-2025. This report focuses on composite materials within the boating quantity and cost at a global level, near stage, and corporation stage. This record represents basic composite materials inside the boating market by analyzing historical facts and determining future prospects worldwide. Regionally, this report specializes in numerous key areas: North America, Europe, China, and Japan.
Key organizations profiled in Composite Materials inside the Boating Market record are DowDuPont, Toray, Cytec Solvay, Airex, Gurit, Branagh, Hexion, and others in terms of enterprise simple facts, Product Introduction, Application, Specification, Production, Revenue, Price, and Gross Margin (2014-2019), and so forth.
Table of Content
1 Composite Materials in the Boating Market Overview
2 Global Composite Materials inside the Boating Market Competition with the aid of Manufacturers
3 Global Composite Materials inside the Boating Production Market Share using Regions
4 Global Composite Materials in the Boating Consumption through Regions
5 Global Composite Materials in the Boating Production, Revenue, Price Trend using Type
6 Global Composite Materials within the Boating Market Analysis by Applications
7 Company Profiles and Key Figures in Composite Materials inside the Boating Business
8 Composite Materials within the Boating Manufacturing Cost Analysis
9 Marketing Channel, Distributors, and Customers
10 Market Dynamics
11 Global Composite Materials in the Boating Market Forecast
12 Research Findings and Conclusion
13 Methodology and Data SourceDuring the Asian financial crisis in 1997, the boating industry of Hong Kong underwent an unusual boom. Before the crisis, the industry and the financial markets were already doing well. There was a lot of affluence and an attitude that the market had reached a new level. The consensus was that the industry would be unsinkable. Investments in almost all sectors possible were made on borrowed money; people made quick money and thought of themselves as invincible. Some were self-professed kings and princes of the stock market, living in utmost luxury, and many ordinary folks with well-paid jobs saw the affluence. They got carried away into taking unnecessary risks. As a result, a large number of people were investing borrowed money.
Eventually, the unthinkable happened. In 1997, the Asian market crashed. Many who had been greedy would now take more than a decade to get out of debt. Bankruptcy, heavy job losses, and, worst of all, suicides became commonplace. Some even took the lives of their families along with their own.
During those difficult times, the used boat market was unexpected for those who understood the opportunity. In superstitious Asian culture, the boats left behind by people who had committed suicide were deemed unlucky and sold cheaply to get rid of them. These boats were then bought by those who understood the opportunity at almost no cost. Many boats were now the property of banks and financial firms.
Some who understood the value of the boats raised money; however, they could buy these distressed assets.
The internet, which was fairly new in 1997, allowed boat sellers great exposure to the world market. In the following years, used boats were exported to strong economies such as the Australian, U.S., and European markets. All a local agent needed was simple know-how to acquire the boats. It was an easy buy and sell.
