Press release
Balsa Core Material Market is estimated to be USD 217.3 million in 2019 and is predicted to reach USD 352.6 million by 2030
Balsa Core Material is mainly derived from trees and they are available in different densities, forms and thickness and used in various applications. Balsa core trees grow rapidly and have a honeycomb like structure which is used for manufacturing of boat, transportation and others. Different characteristics of balsa core such as high rigidity, high moisture resistance and others make it suitable for various applications.
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Top Companies: I-Core Composites, Schweiter Technologies, DIAB, Carbon-Core Corp, BCOMP LTD., Gurit Holding AG and others.
Market Dynamics and Trends
Over the period of time there has been increased demand of developed infrastructure coupled with presence of advanced technology. Furthermore, increased demand of light weight material with wide application is further expected to support the market growth.
The other factors include increase in shipping industries coupled with increased demand of eco-friendly, renewable and high tensile strength materials for various purposes are also expected to contribute the growth of balsa core material market. However, high cost and low density can cause damage to the material which is expected to adversely affect the market growth. Moreover, increasing demand from emerging economies and increased use of balsa core in various projects are expected to create ample opportunities in the balsa core material market.
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Market Segmentations and Scope of the Study:
The global balsa core material market share is analyzed on the basis of type, application, and geography. On the basis of type, the market is segmented into monolayer and multilayer. On the basis of application, the market is divided into Wind Energy, Aerospace, Marine, Transportation, Construction, and Others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
Geographical Analysis
North America is expected to hold the major market share owing to the increased adoption of balsa core materials over the forecast period. Furthermore, increase in technological advancement coupled with increased demand of developed infrastructure coupled with wide application is expected to promote the growth of balsa core material market.
Asia Pacific is expected to show rapid growth with gradual increase in market share owing to the presence of emerging economies. Furthermore, increase in shipping industries and increase in trade practices coupled with increased demand of eco-friendly material with high tensile strength and wide availability in different densities are expected to further drive the growth of balsa core material market in near future.
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We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicate as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solution that ranges from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.
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