Structural Core Materials (Foam and Balsa) Market to reach US$ 749 million during the coming years (2019-2024)

Addressing the most sought-after questions that occupy the minds of entrepreneurs and decision makers, the new report of "Stratview Research" on the Structural Core Materials (Foam and Balsa) Market, answers all the important questions.


Getting to the bare bones of the issues and factors which are sculpturing the market, Stratview Research brings out the best actionable market intelligence for the global Structural Core Materials (Foam and Balsa) Market

The analysts have scrupulously studied the trend and cautiously forecasted the future market developments for 2019-2024.
The important questions the report answers are:
1. What will be the market growth rate in the near future?
2. What are the major developments in the market wrt regulations, acquisitions and innovations?
3. What are the growth drivers as well as the constraints?
4. What are the regional growth hotspots?
5. What are the segmental growth forecasts?

These questions and many more, big and small, are all discussed in the report in great detail.

Structural Core Materials Market: Highlights
Composites have been witnessing impressive growth in most of the end-use industries, such as aerospace, transportation, and marine. Even, the penetration of composites has been the highest among all the materials in some of the major applications, such as wind turbine blades and boat hulls. The impact of this trend is visible in the demand for core materials as these materials proved to be a game changer in developing composite applications that are lighter in weight with good strength.

The strategic Market dissection
The dissection of the market is done to enlighten the aspects which are of interest to firms across the value chain.

Dissection by Segments
• By Core Material Type : PVC, PET, SAN, PMI, Balsa, Others
• By End-Use Industry : Wind Energy, Marine and Others
• By Region : North America, Europe, Asia-Pacific, and RoW

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The Growth Prognosis & its Drivers
Structural core materials market is projected to grow at a healthy rate over the next five years to reach US$ 749 million in 2024. Increasing demand for longer yet lightweight wind turbine blades, growing offshore wind energy installations, increasing production rates of the next-generation aircraft programs, ongoing recovery of the recreational fiberglass boat sales, and excellent performance of sandwich composites are the major factors that are driving the growth of structural core materials market.

Market Segments
The market is segmented based on the core material type as PVC (Polyvinyl Chloride), PET (Polyethylene Terephthalate), SAN (Styrene Acrylonitrile), PMI (Polymethacrylimide), Balsa, and Others. PVC foam core is likely to maintain its dominance in the market over the next five years, owing to its numerous benefits, such as cost-effectiveness with excellent durability, long-life expectancy, good electrical and insulation properties. Moreover, the material is self-extinguishing and will not rot and also, it is resistant to many solvents, including styrene and most fuels.

Based on end-use industry, the structural core materials market is segmented into Wind Energy, Marine, Ground Transportation, Aerospace & Defense, and Others. Wind energy is projected to remain the largest market for structural core materials in the coming five years.

Aerospace & defense is estimated to grow at the highest CAGR over the next five years, driven by an incessant replacement of traditional metals with the advanced composites. All the latest aircraft programs (B787 and A350XWB) contain composite materials making up to almost 50% of their total airframe weight.

Based on regions, Asia-Pacific is expected to remain the largest structural core materials market during the forecast period, driven by China. China is the largest wind turbine market in the world, alone accounting for 86.0% and 44.8% share in the regional and the global new wind turbine capacity addition in 2018, respectively.

Players
The structural core materials market has been flourishing for the last three decades and is expected to maintain its growth momentum in the coming years too. It is of paramount importance for the major players to align themselves with the changing market needs and competitive landscapes. The key structural core material manufacturing companies are 3A Composites (Schweiter Technologies AG), DIAB International AB (Ratos AB), Gurit Holding AG, Armacell International S.A., Evonik Industries AG, Maricell S.r.l., Changzhou Tiansheng New Materials Co., Ltd., SABIC, BASF SE, CoreLite Composites, and Baoding Meiwo Science & Technology Development Co., Ltd.


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This release was published on openPR.