$1.92 Billion Core Materials Market for Composites 2017 - Global Forecasts to 2022

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Jul 06, 2017, 10:15 ET

DUBLIN, July 06, 2017 /PRNewswire/ --

Research and Markets has announced the addition of the "Core Materials Market for Composites by Type (Foam, Honeycomb, and Balsa), End-Use Industry (Aerospace, Wind Energy, Marine, Transportation, Construction), and Region - Global Forecasts to 2022" report to their offering.

The global size of the core materials market for composites, in terms of value, is projected to reach USD 1.92 Billion by 2022, at a CAGR of 8.77% between 2017 and 2022

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 driving the global core materials market for composites.

The global core materials market for composites is segmented on the basis of type, end-use industry, and region. Based on type, the core materials market for composites has been further segmented into foam, honeycomb, and balsa. Foam is expected 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 emergence of China and other Asian countries as major wind energy producers are factors fueling the consumption of foam core, thereby driving the core materials market for composites at a significant pace.

Major end-use industries in the core materials market for composites are aerospace, wind energy, marine, transportation, construction, and others. The wind energy segment is projected to grow at the highest rate between 2017 and 2022. This can be attributed to the use of composites in designing of blades for large wind turbines. These blades are made by combining core materials and glass reinforced polyester/epoxy. The renewal of Production Tax Credit (PTC) in the U.S. has helped the wind energy market to grow, thereby driving the core materials market for composites. The wind energy segment is estimated to grow due to the rising demand for clean energy across the globe.

North America led the core materials market for composites, in terms of value, in 2016, owing to high demand for honeycomb core materials from aerospace and wind energy end-use industries. Established players, such as Hexcel Corporation (U.S.) and The Gill Corporation (U.S.) are accelerating their efforts to increase the production of honeycomb and foam core materials for composites to meet the increasing demand from aircraft and wind blade manufacturers. Therefore, increasing application of honeycomb and foam core materials in the aerospace and wind energy end-use industries is expected to drive the core materials market for composites.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Macroeconomic Overview And Key Drivers

7 Core Materials Market, By Type

8 Core Materials Market, By End-Use Industry

9 Core Materials Market, By Region

10 Competitive Landscape

11 Company Profiles

Amorim Cork Composites
3A Composites
Acp Composites
Allnex Industries
Armacell International S.A.
Atl Composites
Basf Se
Carbon Core Corp
Changzhou Tiansheng New Materials Co. Ltd
Composite Canada
Core Composites
Core-Lite Inc.
Diab Group (Ratos)
Euro-Composites S.A.
Evonik Industries Ag
Gurit Holding Ag
Hexcel Corporation
I-Core Composites, Llc.
Matrix Composite Materials Company Ltd.
Milliken
Omni Composites
Plascore Incorporated
Polyumac Usa, Llc
Sabic
The Gill Corporation

For more information about this report visit https://www.researchandmarkets.com/research/j4b3g4/core_materials

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SOURCE Research and Markets