Structural Core Materials Market to Reach US$ 749 Million in 2024, Says Stratview Research

DETROIT, June 12, 2019 /PRNewswire/ -- Stratview Research announces the launch of a new research report on Structural Core Materials (Foam and Balsa) Market by End-Use Industry (Wind Energy, Marine, Ground Transportation, Aerospace & Defense and Others), by Core Material Type (PVC, PET, SAN, PMI, Balsa and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.

This report, from Stratview Research, provides a comprehensive analysis that reflects today's structural core materials market realities and future market possibilities for the forecast period of 2019 to 2024. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies.

Structural Core Materials (Foam and Balsa) Market: Research 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.

Structural core materials are employed where parts must exhibit high bending strength and stiffness, but at the same time need to be lightweight. The core must withstand shear stress and compression as it supports and stabilizes the skin sheets so that they stay fixed in place relative to one another and do not deform.

As per Stratview Research, the global 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 burgeoning the growth of structural core materials market.

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Based on the end-use industry, the 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, whereas aerospace & defense is estimated to grow at the highest CAGR in the same period, driven by an incessant replacement of traditional metals with the advanced composites.

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, does not rot and it is resistant to many solvents, including styrene and most fuels. However, PET is another most commonly used foam material in the composites industry. It will continue to replace PVC, SAN, and balsa in almost all the major applications, owing to its advantages, such as recyclability and reduction in the resin uptake, which significantly results in the reduction of total weight and cost of the infused core materials.

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In terms of region, Asia-Pacific is expected to remain the largest structural core materials market during the forecast period, driven by China, the largest wind turbine market in the world. Asia-Pacific is also estimated to depict the highest growth during the same period, driven by China, India, and Japan. All these three countries would remain the growth engines of the region's market for structural core material over the next five years.

Some of 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.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

This report studies the structural core materials market and has segmented the market in three ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the three ways in which the market is segmented:

Structural Core Materials Market, By Core Material Type

• PVC (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• PET (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• SAN (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• PMI (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Balsa (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Structural Core Materials Market, By End-Use Industry

• Wind Energy (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Marine (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Ground Transportation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Aerospace & Defense (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Structural Core Materials Market, By Region

• North America (Country Analysis: The USA, Canada, Mexico)
• Europe (Country Analysis: France, Germany, the UK, Russia and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Stratview Research has several high value market reports in the composites and advanced materials industry. Please refer to the following link to browse through our reports:

Click Here for Other Reports from Stratview Research in the Advanced Materials Industry

Related premium market reports in the sandwich panel segment are:

Core Material Kitting Market by End-Use Industry Type (Wind Energy, Aerospace & Defense, Marine, Transportation, Construction, and Others), by Core Material Type (Honeycomb Core, Foam Core, and Balsa), by Honeycomb Type (Nomex Honeycomb, Aluminium Honeycomb, and Others), by Foam Type (PVC Foam, PET Foam, and Others), by Process Type (Machining and Manual), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.

Composite Floor Panels Market by End-Use Industry Type (Aircraft, Rail, and Bus), by Core Material Type (Honeycomb Core, Foam Core, and Balsa Core), by End-User Type (OE and Aftermarket), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.

Aircraft Interior Sandwich Panel Market by Aircraft Type (Narrow-Body Aircraft, Wide-Body Aircraft, Very Large Aircraft, Regional Aircraft, and General Aviation), by Application Type (Floor Panel, Sidewall Panel, Ceiling Panel, Stowage Bin, Galley, Lavatory, and Others), by Core Material Type (Nomex Honeycomb, Aluminum Honeycomb, and Others), by End-User Type (OE and Aftermarket), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.

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