Executive Summary The Global Core Material was valued at USD 1548.82 Million in the year 2019. The growth in Core Material market is mainly driven by growing urbanization and rapid industrialization, especially in emerging economies such as India and China, which has led to significant investment in the construction of buildings.
Core materials offer high stiffness and low-density material in sandwich composite construction. The weight reduction of the required structure with high strength makes the use of core materials vital in the wind energy end-use industry. The size of wind blades is increasing, which will drive the use of core materials in the wind blades segment.
Technological innovations have led to the discovery of new methods of manufacturing honeycombs. These methods include heated press method and vacuum bag processing. Players in the market use a cost-advantage approach for their products. Companies such as SABIC; Evonik Industries; Gurit Holdings, Inc.and Hexcel Corporation have enough capital to invest in research and development, thus giving them an opportunity to improve the quality of their products.
The global core materials market is increasing due to their rising demand from composite component manufacturers. The market growth is attributed to the growing demand for lightweight and high-performance materials in various end-use industries. Also, it is predicted that USD 13 trillion will be invested in new power generation assets up until 2050, with 77% of that allocated to renewable energy, with an average of 125 GW of installed wind capacity added each year. The wind industry basically uses three core materials: PET, balsa and PVC.
North America is the leading region in Core Material market. With the rapid advancement in the technology and growth in the construction industry, the region has seen rapid development and expansion of cities and infrastructure, which is impelling the growth of core materials market in the region.
Scope of the Report • The report analyses the Core Material by Type (Foam, Balsa, Honeycomb) • The report assesses the Core Material by Application (Aerospace, Wind Energy, Construction, Marine, Transportation, Others) • The Global Core Material has been analysed By Region (North America, Europe, Asia Pacific, LAMEA) and By Country (United States, Canada, Germany, Spain, France, United Kingdom, South Korea, China, Japan, India). • The attractiveness of the market has been presented by region, and by Type. Also, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report. • The companies analysed in the report include Hexcel Corporation, 3A Composites, Gurit Holding, Armacell International, Evonik Industries, Diab Group, Changzhou Tiansheng New Materials Co. Ltd., Plascore Incorporated, Euro Composites, The Gill Corporation • The report presents the analysis of Core Material for the historical period 2015-2019 and the forecast period of 2020-2025.
Key Target Audience
• Core Material Vendors • Consulting and Advisory Firms • Government and Policy Makers • Investment Banks and Equity Firms • Regulatory Authorities
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