Reports and Data estimates the global Structural Core Materials competitive landscape is highly fragmented with numerous players operating on a global and regional scale. The key companies in the market are engaged in mergers and acquisitions, joint ventures, collaborations, and product launches to gain a robust revenue growth over the forecast period. The report considers 2020-2021 as historic years, 2020 as the base year, and 2022-2027 as the forecast period. The report offers CAGR and market size for the global Structural Core Materials during the forecast period.
The report also offers key insights about the top companies operating in the market and their market share and global position along with product portfolio and advancements. The top companies in the market include Plascore, Diab Group, Gurit Holding, Evonik Industries, Schweiter Technologies, Hexcel Corporation, Changzhou Tiansheng New Materials Co. Ltd., Armacell International, The Gill Corporation, BASF, and Verdane, among others.
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Regional Outlook:
In 2018, the North America region held 38.3% of the structural core materials industry share. Construction, transportation, tank, and pipes are the primary segments in the U.S. composites industry that consume over 69% of the global volume of structural core materials.
The presence of established players such as Hexcel Corporation and The Gill Corporation in this region are driving regional growth. Moreover, the presence of major honeycomb structural core production base in the region will further drive price trends over the analysis period.
Asia Pacific is estimated to be the fastest-growing region, registering a CAGR of 6.5% through 2027 on account of a growing demand for high-performance materials stemming from wind energy and aerospace industries. A rise in the number of developmental projects in the field of wind energy and high-speed rail will bolster product proliferation. For instance, China holds a maximum share of the global wind turbine market, and GWEC estimates that it will be expanding onshore wind energy by additions of 118 GW of new turbine capacity by 2025. This is likely to generate heavy demand for composite materials, which, in turn, will reinforce structural core materials industry trends.
Material type Outlook
The glass Fiber-reinforced polymer material type is estimated to show the fastest growth at a CAGR of 6.2% over the analysis period.
In 2018, the carbon fiber reinforced polymer accounted for 31.2 % of the industry share and is estimated to witness high demand on account of product advantages, such as lightweight, corrosion resistance, high strength, and stiffness.
Product Outlook:
In 2018, the honeycomb product segment held 63.8% of the Structural Core materials market share due to extensive product applications in the aerospace and transportation industry. Honeycomb materials include aluminum, paper, phenolic resin impregnated fiberglass, aramid fiber phenolic-treated paper, polypropylene, and others. Utilization of honeycomb cores can be extremely helpful in the fabrication of lightweight panels for different applications.
Balsa product type is experiencing high demand from navy vessels, military aircraft, and boat hulls, and industrial tank applications. The product is readily available in sheet form for the construction of scrim-backed block arrangement or flat panels for application in complex curves
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For the purpose of this report Reports and Data has segmented global Structural Core Materials market on the basis of type, application, and region:
Material Type Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2017-2027)
- CFRP (Carbon Fiber Reinforced Polymer)
- GFRP (Glass Fiber Reinforced Polymer)
- NFRP (Natural Fiber Reinforced Polymer)
- Others
Product Type Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2017-2027)
- Honeycomb
- Foam
- Balsa
End Users Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2017-2027)
- Aerospace
- Automotive
- Wind energy
- Marine
- Others
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
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Key Questions answered by the Report:
- What is the expected year-on-year growth of the Structural Core Materials during the forecast period?
- What key trends are expected influence revenue growth of the market going ahead?
- Which region is expected to account for largest revenue share over the forecast period?
- Which key companies are profiled in the report?
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