Structural Core Materials Market 2018: Key Vendors Analysis, Future Demand, and Industry Outlook to 2023


Posted September 25, 2018 by harishsomani321

Structural Core Materials Market is anticipated to observe at a 5% CAGR through 2018 to 2023 and industry growth is driven by applications in end-user like Aerospace, Automotive, Wind Energy, Construction, and Marine sectors

 
Highlight:
According to MRFR analysis, the global structural core materials market is projected to grow at a CAGR of over 5% during the forecast period. Market growth is driven by increasing product demand from the automobile and aerospace industries. Moreover, with rising international trade, the marine sector has seen substantial growth in recent times which, in turn, is projected to have a positive impact on the global structural core materials market. The growing demand for lightweight materials in aircraft, automobiles, and marine vessels due to their high fuel efficiency is expected to be a major factor driving market growth.
Structural Core Materials are used in composites mainly to enhance their physical properties. The most commonly used structural core materials are foam, balsa, and honeycomb. The growing demand for lightweight materials in aircraft, automobiles, and marine vessels due to their high fuel efficiency is expected to be a major factor driving market growth. Moreover, with rising international trade, the marine sector has seen substantial growth in recent times which, in turn, is projected to have a positive impact on the global structural core materials market.
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Intended Audience:
• Structural core materials manufacturers
• Traders and distributors of structural core materials
• Research and development institutes
• Potential investors
• Raw material suppliers
• Nationalized laboratories
Segmentation:
The Structural Core Materials Market has segmented by end-use industry, product, and region.
By product, the market has been segmented into foam, balsa, and honeycomb. The foam segment is expected to be the second-largest market during the forecast period. The growing application of foam in wind turbine blades and the nacelles of aircraft and automobiles is expected to drive the growth of the foam segment.
The honeycomb segment was the largest in 2017 and is expected to remain so during the forecast period.
Basis of end-use industry, the aerospace industry was the largest in 2017 while the wind energy segment is expected to register the highest CAGR during the forecast period. Growing international trade, coupled with the burgeoning aerospace sector in emerging economies, is leading to a surge in demand for structural core materials.
By region, it is segmented into five regions across the world namely Latin America, North America, Europe, Asia-Pacific, and the Middle East & Africa.
Regional Analysis:
North America was the leading regional structural core materials market in 2017. Factors such as the growing adoption of the product in the automobile and aerospace sectors are driving market growth.
Asia-Pacific is expected to be the fastest-growing regional market during the forecast period. The shifting of automobile bases to the region, coupled with the increasing number of government initiatives for the generation of renewable energy, is further propelling market growth. The structural core materials market in Asia-Pacific is projected to grow at a CAGR of 6.5% during the forecast period.
Global Key Players:
The top key players available in the Global Structural Core Materials Market are; The Gill Corporation (U.S.), Schweiter Technologies (Switzerland), Diab Group (Sweden), Hexcel Corporation (U.S.), Euro Composites (Luxembourg), Changzhou Tiansheng New Materials Co. Ltd. (China), Plascore Incorporated (U.S.), Gurit Holding (Switzerland), Armacell International (Luxembourg), and Evonik Industries (Germany).
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Last Updated September 25, 2018