Global Structural Core Materials Market by End Use (Marine, Aerospace, Automotive, Wind Energy, Construction), by Product (Balsa, Honeycomb, Foam) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

In 2016, the global market for structural core materials was valued at USD 1.68 million. The market is witnessing a significant increase in demand for these materials due to the growing wind energy sector. The demand for structural core material has been driven by the rapid growth of the automotive and aerospace industries in countries like the U.S. and India.

To stay ahead of their competitors, some of the largest players in this market are investing in R&D in the area of structural core materials. This will allow them to expand their market reach and application scope. These researches have led to the discovery of cost-effective ways to manufacture structural core materials.

In 2015, the U.S. market for structural core materials was valued at USD 388.4 millions. Intermediates like HTML3_ carbon fiber HTML3_ HTML4_, glass fiber and honeycombs are used to produce structural core materials. These raw materials can be used to make structural core materials for construction, aerospace, wind energy, marine and other industries.

New methods for manufacturing honeycombs have been made possible by technological innovations. These include vacuum bag processing and heated press method. Market players use cost-advantage approaches to their products. SABIC, Evonik Industries, Gurit Holdings, Inc., and Hexcel Corporation all have sufficient capital to invest in research-and-development, which allows them to improve their products' quality.

Legislation such as the Toxic Substances Control Act of 1996 (TSCA), Comprehensive Environmental Response, Compensation, and Liability Acts (CERLA), Registration, Evaluate, Authorization, and Restriction of Chemicals Acts (REACH) govern the regulatory framework for structural core material. These regulations cover the chemical and physical hazards of honeycombs, resins and fibers as well as the requirements for storage and usage of the raw materials and products. The production of structural core materials is allowed to use and store Nomex honeycomb and aluminum honeycomb as long as safety regulations are observed.

Product Insights

Nomex honeycomb and aluminum honeycomb as well as balsawood and resins are the main raw materials used in the production of structural core material. The prices of these raw materials will have an impact on the production costs. These products are manufactured by companies that have signed agreements with aircraft manufacturers to supply panels for their specific business needs.

The global honeycomb market accounted for 67.2% in industry revenue in 2016. Because of their high stiffness, specific strength, and lightweight construction properties, honeycombs are most commonly used in aerospace. Most adhesives can be used to create honeycomb structures. These products are resistant to corrosion, fire-resistant and thermally insulating. They also have excellent dielectric properties, good thermal stability, and are very stable.

Skin Type Insights

Many applications use structural core materials, including aerospace, automotive and wind energy, maritime, construction, medical equipment, packaging, and other areas. These products are sandwiched with an outer skin of carbon fiber or glass fiber, nylon fibre, and other types of fibers.

The largest market share was held by carbon fiber reinforced polymer (CFRP). Carbon fibers are a popular choice because of their high tensile strength and low thermal expansion. Carbon fiber is superior to glass and other fibers when it comes to compressive strength and tensile strength. Carbon fiber's structural integrity is maintained even under constant forces.

The fastest-growing segment of skin is likely to be glass fiber reinforced polymer (GFRP). Fiberglass is strong, lightweight, and strong, but it has a lower quality than glass fiber. Composite manufacturing is seeing an increasing demand for glass fibers because they are cheaper and stronger than carbon fiber.

End-use Insights

In 2016, Aerospace was the most important end-use sector in the industry. The number of flights between major business centers has increased steadily over the years. This trend is expected to continue in the future. The demand for composites is expected to rise, which will fuel the market for structural core material.

The fastest-growing sector is likely to be wind energy. Blades must be light-weight to make the process easier. They are being increasingly used in windmills for the generation of wind energy. They are used in traditional and offshore windmills, and this trend will continue for the foreseeable future. With the aid of an optimized infusion process, blade manufacturers can achieve higher quality and shorter cycle times through lightweight cores.

Regional Insights

In 2016, North America dominated the global market for revenue, and this trend will continue in the future. The North American market is expected to grow through 2025 due to the expansion of the construction, wind energy and automotive industries. This growth will be mainly in the U.S. and Canada.

Asia Pacific is expected be the fastest-growing global market, with a CAGR in revenue of 7.6% between 2017 and 2025. Over the forecast period, the demand for structural core material is expected to grow due to the rapid growth of residential and commercial construction. Regional growth will be aided by the rapid growth of the automotive, aerospace, and wind energy sectors in the region.

Market Share Insights & Key Companies

Rockwell Collins, Inc., DIAB International AB, Evonik Industries, Gurit Holding AG, Schweiter Technologies, Hexcel Corporation, and The Gill Corporation are key players in this global market. These companies manufacture structural core materials that are either transported across the value chain by distributors or directly supplied by the manufacturers to OEMs.

These players are in fierce competition because they offer similar product lines and serve similar industries. Companies invest heavily in research and development to increase their product ranges and production capabilities, which helps them maintain their market position.

Structural Core Materials Market Report Scope

The Report Covers Certain Segments

This report predicts revenue growth and volume growth at the global, regional and country level. It also provides analysis of industry trends for each sub-segment from 2014 through 2025. Grand View Research has divided the global market for structural core materials on the basis product, skin type, use, region, and country.

• Product Outlook (Volume of Kilotons; Revenues, USD Million, 2014-2025)

  • Foam

  • Balsa

  • Honeycomb

• The Skin Type Outlook (Volume of Kilotons; Revenues, USD Millions, 2014-2025)

  • GFRP

  • CFRP

  • NFRP

  • Other

• End-use Outlook (Volume of Kilotons; Revenues, USD Millions, 2014-2025)

  • Aerospace

  • Automotive

  • Wind energy

  • Marine

  • Construction

  • Other

• Regional Outlook (Volume of Kilotons; Revenues, USD Millions, 2014-2025)

  • North America

    • The U.S.

  • Europe

    • The U.K.

    • Germany

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa

    • Saudi Arabia

These are the most frequently asked questions about this report

b. Global structural core materials market was valued at USD 1.80 Billion in 2019, and will reach USD 1.86 Billion by 2020.

b. Global structural core materials market will grow at a compound annual rate of 5.9% between 2017 and 2025, reaching USD 2.80 billion by 2025.

b. With a 38.6% share in 2019, North America was the dominant market for structural core materials. The market is expected to grow through 2025 due to the expansion of the construction, wind energy and automotive industries in North America.

b. b.

b. The growth of the market for structural core materials is driven by the rapid expansion of aerospace and automotive industries.

Up Market Research published a new report titled “Structural Core Materials Market research report which is segmented by End Use (Marine, Aerospace, Automotive, Wind Energy, Construction), by Product (Balsa, Honeycomb, Foam), By Players/Companies Rockwell Collins, Inc; DIAB International AB; Evonik Industries; Gurit Holding AG; Schweiter Technologies; Hexcel Corporation; and The Gill Corporation Structural core materials manufactured by these companies are moved across the value chain with the help of distributors or are directly supplied to OEMs by manufacturers”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Structural Core Materials Market Report Segments:

The market is segmented by End Use (Marine, Aerospace, Automotive, Wind Energy, Construction), by Product (Balsa, Honeycomb, Foam).

Structural Core Materials Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Structural Core Materials Market

Overview of the regional outlook of the Structural Core Materials Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Structural Core Materials Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Structural Core Materials Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Marine

                2. Aerospace

                3. Automotive

                4. Wind Energy

                5. Construction

                1. Balsa

                2. Honeycomb

                3. Foam

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Structural Core Materials Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Structural Core Materials Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.