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Global Core Materials Market Size, Trends & Analysis - Forecasts To 2026 By Type (Honeycomb, Balsa, Foam), By End-Use Industry (Aerospace & Defense, Construction, Automotive & Transportation, Industrial, Marine, Wind Energy, Others), By Region (North America, Europe, Asia Pacific and Rest of the World); Vendor Landscape, End User Landscape and Company Market Share Analysis & -Competitor Analysis
Core Materials Market: Insights
The global core materials market is estimated to witness a significant CAGR during the forecast period (2020-2026). The growth of the market is anticipated to increase due to growing demand from the wind energy industry along with rising investments in the marine industry. Growing usage of composites in the aerospace industry and increasing demand for lightweight core materials are some of the major factors expected to drive the market growth during the forecast period. Moreover, the rise in the adoption of balsa wood with multilayer coating in a wide range of applications such as aerospace, and marine, among others is one of the significant factors propelling the market growth. However, stringent environmental concerns by government regulations and high material costs are likely to hamper the market growth during the forecast period.
Core Materials Market: By Type
Based on type, the global core materials market is segmented into the honeycomb, balsa, and foam. The foam segment is expected to grow at a high CAGR during the forecast period. Foams are simple to process and form, and give an outstanding strength to weight ratio, making them the most favored type of core material. It is further segmented into PEM, PEI, SAN, PTI, and PVC, among others. These are widely used in applications such as wind turbines & wind energy blades, and boat hulls, among others. Moreover, in industrial applications foam cores are preferred.
Core Materials Market: By End-Use Industry
Based on end-use industry, the global core materials market is segmented into aerospace & defense, automotive & transportation, industrial, construction, marine, and wind energy, among others. The wind energy segmented is expected to hold the largest market share during the forecast period.
Core Materials Market: By Region
Based on region, the global core materials market is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. North America is expected to witness considerable growth in the core materials market during the forecast period. Growing overall vehicle production in the region is propelling the market. The U.S. is expected to be the largest construction market in North America and is expected to have the largest number of construction facilities. Furthermore, the number of wind turbine installations increased in the region drives market growth. The Asia-Pacific region is expected to grow at a high CAGR in terms of revenue during the forecast period. Improving economic conditions in countries such as India and China is stimulating the demand for retail and commercial spaces. Furthermore, the growing construction industry in emerging countries including China, India, Japan, South Korea, and Singapore among others is propelling the market growth in the region.
Core Materials Market: Share & Competitor Analysis
Some of the key players operating in the core materials market are 3A Composites Diab Group, Gurit Holdings, Hexcel Corporation, Armacell International S.A., Evonik Industries, Changzhou Tiansheng New Materials Co. Ltd., The Gill Corporation, Euro-Composites S.A., Plascore Inc., Sabic, BASF SE, Toray, Core Composite, Satl Composites, Jiangsu Yueke New Materials Co., Ltd., Changzhou Utek Composite Co., Ltd., Core-Lite Inc., And Advanced Honeycomb Technology, among others.
Please note: This is not an exhaustive list of companies profiled in the report.
Core Materials Market: By Type
Core Materials Market: By End-Use Industry
Core Materials Market: By Region
The global Core Materials Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Core Materials Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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