NEW YORK, May 24, 2016 /PRNewswire/ -- "Increasing demand for lightweight and high strength materials expected to drive the core materials market for composites"
The global core materials market size for composites is projected to reach USD 1.72 billion by 2021, registering a CAGR of 8.60% between 2016 and 2021. Growing demand from wind energy sector, increasing use of composites in the aerospace industry, and recovery of marine sector in the U.S. are the major drivers fuelling the growth of global core materials market for composites.
"Wind energy is the fastest-growing industry of the core materials market for composites"
Wind energy is a key solution to energy security, air pollution, and price stability. This is driving the demand of core materials in this industry. As per the GWEC, by the end of 2015, there were commercial wind power installations in more than 90 countries, with a total installed capacity of 432 GW. The rapid growth in the wind energy sector in China, India, and other countries are driving the demand of foam core materials market for composites at a significant pace.
"Asia-Pacific is the fastest-growing market for core materials for composites"
Asia-Pacific is the fastest-growing market for core materials for composites. The rising demand for high performance materials from wind energy and aerospace industry and increasing expansion and other development strategies in the region are few factors leading to the growth of the core materials market for composites in this region.
China dominated the core material's market in Asia-Pacific, accounting for more than half of the demand of core materials in the region. The increasing installations of wind energy turbines in 2015 and increasing number of high-speed rail projects is driving the demand for core materials in the country.
The market figures presented in this report has been validated through primary interviews conducted with various industry experts, globally. These primary sources have been divided in three categories:
- By Company Type- Tier 1- 35%, Tier 2- 25%, and Tier 3- 40%
- By Designation- C Level- 30%, Director Level- 25%, and Others- 45%
- By Region- North America- 29%, Europe- 24%, Asia-Pacific- 33%, ME&A- 9%, and Latin America (5%)
The report also provides company profiles and competitive strategies adopted by the major market players; the various key players profiled in the report are as follows:
- Diab Group (Sweden)
- Hexcel Corporation (U.S.)
- 3A Composites (Switzerland)
- Euro-Composites S.A. (Luxembourg)
- Gurit Holding AG (Switzerland)
- The Gill Corporation (U.S.)
- Changzhou Tiansheng New Materials Co. Ltd. (China)
- Plascore Incorporated (U.S.)
- Armacell International S.A. (Luxembourg) and
- Evonik Industries AG (Germany)
Reasons to buy the Report
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the core materials market for composites comprehensively and provide the closest approximations of the revenue numbers for the overall market and the subsegments across different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
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