Structural Core Materials Market Size, Share, Growth, Trends and Industry Analysis Report
by Susan Hill Business ConsultantThe global structural core materials market size is expected to
reach USD 2.80 billion by 2025, according to a new report by Grand View
Research, Inc., exhibiting a CAGR of 5.9% during the forecast period. As the
wind energy sector continues to flourish, structural core materials are
anticipated to rake in a healthy share in the revenue pie. Rising consumer
disposable income of people in countries such as U.S., India, and China is
leading to expansion of the aerospace and automotive industries, thereby
boosting the need for structural core materials for parts and components
manufacturing.
In terms of revenue,
aerospace was the largest end-use segment, accounting for about 38.0% of the
global market in 2016. In the field of aircraft and helicopter engineering,
sandwich structures are the preferred choice for lightweight yet high-strength
designs. High temperature resistance of cores has further facilitated the
demand for these products.
Booming aerospace and
construction industries worldwide are unfolding several growth opportunities
for the structural core materials market. However, prices of raw materials used
for manufacturing could play a crucial role in overall production cost in the
future.
DIAB International AB, a
major player in the market, tripled its production capacity of advanced foam
cores to meet increasing demand from the aerospace industry worldwide. A few
companies acquired and merged with each other to enhance their product
offerings and expand their global reach. For instance, Gurit Holding AG
acquired BASF’s PET structural foam business with the intention of
strengthening Gurit’s range of structural core material products. Such
strategic initiatives reflect the intensifying competition in the structural
core materials market.
Further key findings from the report suggest:
- The wind energy end-use segment is slated
to experience the fastest growth in terms of revenue, progressing at a
CAGR of 8.4% from 2017 to 2025. The growth of the segment can be
attributed to increasing number of wind farms in emerging economies
- Carbon FRP emerged as the largest skin
type segment in terms of revenue in 2016 and is projected to value more
than USD 1.15 billion by 2025. The segment is poised to experience steady
growth over the forecast period owing to superior properties offered by
carbon fiber-based materials in lightweight and high-strength construction
- The Asia Pacific region is likely to
register the highest CAGR over the forecast years owing to rapid growth of
the aerospace, automotive, and wind energy industries in the region, most
notably in India and China. In terms of revenue, the regional market is
expected to post a CAGR of 7.6% from 2017 to 2025
- Players such as Rockwell Collins, Inc.;
DIAB International AB; Evonik Industries; Gurit Holding AG; Schweiter
Technologies; Hexcel Corporation; and The Gill Corporation dominated the
global structure core materials market.
Access full research report on global structural
core materials market:
www.grandviewresearch.com/industry-analysis/structural-core-materials-market
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Created on Jun 4th 2020 13:16. Viewed 336 times.