Core Materials Market : Global Industry Analysis and Forecast (2023-2029)

Core Materials Market size is expected to reach 4.70 US$ Bn in year 2029, at a CAGR of 5.5% during the forecast period.

The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
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Core Materials Market Dynamics:
Some of the major factors driving the market for global core materials market are the increase in demand for PVC foam, growth in the aerospace industry for various applications, and technological advancements in core materials services. Furthermore, the market growth is due to the rise in demand for lightweight components, especially in the growing aerospace, transportations, and wind energy industries. Also, industrialization and an increase in the number of end-use industry players in emerging economies such as India, China, and Brazil offer several new and unexplored opportunities.

Additionally, the increasing number of patents being filed for core materials by global players, growing manufacturing industries, and continuous agreements, partnerships & joint ventures, expansions, new product & technology launches, and mergers & acquisitions activities undertaken by various companies are key factors boosting the global core materials market for composites.

Furthermore, the wind energy sector continues to flourish, structural core materials are projected to hold a healthy market share in the revenue structure. The growing consumer disposable income of people in countries such as the U.S., India, and China is dominating the expansion of the aerospace and automotive industries, thereby increasing the need for structural core materials for components manufacturing. At the same time, the high cost of foam and balsa in the core material is hindering the growth of the market.
Core Materials Market Segment Analysis:
According to the type, the foam is projected to be the fastest-growing type segment of the core materials market for composites. Foam core imparts strength and stiffness while keeping the composite structure lightweight. Rapid growth in the wind energy industry, wind turbine blade manufacturing, and the emergence of China and other Asian countries as major wind energy producers are factors driving the consumption of foam core, help to drive the core materials market for composites at a significant pace.
Core Materials Market Regional Insights:
Among the regions, North America held the highest market share in 2022, and it is expected to continue during the forecast period. Due to the high demand for honeycomb core materials from aerospace and wind energy end-use industries. Established players, like The Gill Corporation (U.S.) and Hexcel Corporation (U.S.), speed up their efforts to improve the production of honeycomb and foam core materials for composites to meet the growing demand from aircraft and wind blade manufacturers. Hence, the growing application of honeycomb and foam core materials in the aerospace and wind energy end-use industries is projected to boost the core materials market for composites.

The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data, and projections with a suitable set of assumptions and methodology. The report also helps in understanding the global core materials market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence.

Core Materials Market, Key Highlights:

1. Global Core Materials Market analysis and forecast, in terms of value.

2. Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Core Materials Market

3. Global Core Materials Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.

4. Global Core Materials Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.

5. Global Core Materials Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.

6. Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.

7. Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Market are also profiled.
Scope of the Global Core Materials Market Report: Inquire before buying



Global Core Materials Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 3.23 Bn.


Forecast Period 2023 to 2029 CAGR:
5.5%
Market Size in 2029:
US $ 4.70 Bn.


 Segments Covered:
by Type
Foam
Honeycomb
Balsa


by End-Use
Aerospace
Wind Energy
Marine
Transportation
Construction
Others


by Outer Skin Type
GFRP
CFRP
NFRP
Others



Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Key Players:
1. Diab Group (Ratos)
2. Evonik Industries AG
3. Gurit Holding AG
4. 3A Composites
5. Hexcel Corporation
6. Armacell International S.A.
7. Changzhou Tiansheng New Materials Co. Ltd
8. The Gill Corporation
9. Euro-Composites S.A.
10. Plascore Incorporated
11. Changzhou Tiansheng New Materials Co. Ltd.
12. The Gill Corporation
13. Airex AG
14. Plascore Incorporated
15. Schweiter Technologies
16. Rockwell Collins, Inc.
17. Sartex GmbH & Co. KG
18. Bcomp Ltd.
19. I-Core Composites

Frequently Asked Questions:

1] What segments are covered in the Market report?
Ans. The segments covered in the Market report are based on Product Type, and Application.

2] Which region is expected to hold the highest share in the Market?
Ans. The Asia Pacific region is expected to hold the highest share in the Market.

3] What is the market size of the Market by 2029?
Ans. The market size of the Market by 2029 is US$ 4.70 Bn.

4] What is the forecast period for the Market?
Ans. The forecast period for the Market is 2023-2029.

5] What was the market size of the  Market in 2022?
Ans. The market size of the Market in 2022 was US$ 3.23 Bn.