Structural Core Materials Market by Type (Balsa Core Materials, Foam Core Materials, Honeycomb Core Materials), Outer Skin Type (Carbon Fiber Reinforced Polymer, Glass Fiber Reinforced Polymer, Natural Fibre-Reinforced Polymer), End-use Industry - Global

Structural Core Materials Market by Type (Balsa Core Materials, Foam Core Materials, Honeycomb Core Materials), Outer Skin Type (Carbon Fiber Reinforced Polymer, Glass Fiber Reinforced Polymer, Natural Fibre-Reinforced Polymer), End-use Industry - Global Forecast 2024-2030

The Structural Core Materials Market size was estimated at USD 5.51 billion in 2023 and expected to reach USD 6.01 billion in 2024, at a CAGR 9.14% to reach USD 10.17 billion by 2030.

Structural core materials are critical components in constructing composite laminates utilized to bolster strength and rigidity without adding significant weight. These materials are layered between multiple sheets of strengthening skins to form a sandwich structure with enhanced mechanical properties. They are generally characterized by a high strength-to-weight ratio, improved stiffness, superior thermal insulation, low water absorption, and corrosion resistance. The growing need for lightweight materials in the aerospace, automotive & transportation sectors, coupled with the increasing emphasis on energy conservation globally, increases the adoption of structural core materials. However, the high cost of raw materials directly influences the overall cost of developing structural core materials. Nevertheless, developing cost-effective production and recycling techniques to tackle the raw material costs and research advancements in higher firmness and improved durability core materials can introduce new opportunities for market growth.

Regional Insights

The Americas region significantly focuses on technological advancements in industrial and automotive applications in the structural core materials market. The major countries, such as the United States, Canada, and Brazil, involve a predominant trend for lightweight yet sturdy materials among consumers, thereby promoting the use of structural core materials. The European Union has witnessed increased demand for structural core materials, specifically in the renewable energy and construction sectors. The EMEA countries such as Germany and France are focused on sustainability efforts through the established stringent regulations in structural core materials manufacturing. The Middle East and Africa (EMEA) region reflects a growing interest in marine, sporting goods, and aerospace applications in recent years. China, Japan, and India are major countries in the APAC region witnessing investments focused on enhancing infrastructure in sectors such as construction, aerospace, and energy, contributing to the increased demand for high-strength, lightweight structural core materials. The players in the APAC region are focused on developing cost-effective and recyclable products to cater to the growing consumer demand across diverse industries.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Structural Core Materials Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Rise in construction and infrastructure development activities worldwide
    • Demand for lightweight and high-strength in the automotive and aerospace sectors
    • Market Restraints
      • Environmental impact and certain performance limitations of structural core materials
      • Market Opportunities
        • Introduction of improved and advanced structural core materials
        • Adoption of structural core materials in renewable energy projects
        • Market Challenges
          • Complexities in the manufacturing and designing of structural core materials
          • Market Segmentation Analysis
            • Type: Burgeoning utilization of foam-based structural core materials owing to their high thermal insulation property
            • Outer Skin Type: Increasing usage of natural fiber-reinforced polymer (NFRP) due to its environmentally friendly characteristics and lower costs
            • End-use Industry: Evolving applications of structural core materials in the construction and wind energy industry
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Structural Core Materials Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Structural Core Materials Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • Gurit Announces Major Long-Term Supply Contracts With two Wind Oems
              
              Gurit Holding AG secured two supply contracts for core material kits from two Wind Turbine Original Equipment Manufacturers (OEMs). The first contract continues an existing agreement and spans over four years. The second contract, a renewal of an existing agreement, is set to last for three years.
              
              Toray Industries Launches World’s Highest Strength Carbon Fiber for Diverse Applications
              
              Toray Industries developed TORAYCA T1200, the high-strength carbon fiber, with the aim of reducing the environmental impact and weight of carbon-fiber-reinforced plastic materials. In line with its corporate philosophy of creating new value through innovation, Toray is committed to continuously improving the performance and availability of TORAYCA carbon fiber.
              
              New Company Launches Ultra-Light, Low Carbon ‘Aerogel’ Insulation Materials
              
              A team of engineers from the University of Bath has established Aerogel Core Ltd., specializing in ultralight aerogels for soundproofing and heat-shielding applications in the aerospace and automotive industries. Moving forward, the team is aimed to focus on demonstrating the scalability of their technology through manufacturing automation and material development.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Structural Core Materials Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the Structural Core Materials Market, highlighting leading vendors and their innovative profiles. These include 3A Composites GmbH by Schweiter Technologies AG, 3M Company, Amorim Cork Composites S.A., Armacell International S.A., BASF SE, Carbon-Core Corp., Composites One LLC, CoreLite, Diab Group, DuPont de Nemours, Inc., Euro-Composites S.A., Evonik Industries AG, General Plastics Manufacturing Company, Inc., Gurit Services AG, Hexcel Corporation, Huntsman Corporation, I-Core Composites LLC, Kordsa Teknik Tekstil, Lantor BV, Marex Composites, Inc., Mitsubishi Chemical Group Corporation, Owens Corning, Plascore, Inc., RelCore Composites Inc., RTX Corporation, SABIC, SAERTEX GmbH & Co. KG, Showa Aircraft Industry Co., Ltd., SingCore, Sino Composite Co., Ltd., Solvay S.A., Suzhou Beecore Honeycomb Materials Co., Ltd, The Gill Corporation, and Toray Industries, Inc..
            
            Market Segmentation & Coverage
            
            This research report categorizes the Structural Core Materials Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Type
              • Balsa Core Materials
              • Foam Core Materials
              • Honeycomb Core Materials
              • Outer Skin Type
                • Carbon Fiber Reinforced Polymer
                • Glass Fiber Reinforced Polymer
                • Natural Fibre-Reinforced Polymer
                • End-use Industry
                  • Aerospace
                  • Automotive & Transportation
                  • Construction
                  • Marine
                  • Wind Energy
                  • Region
                    • Americas
                      • Argentina
                      • Brazil
                      • Canada
                      • Mexico
                      • United States
                        • California
                        • Florida
                        • Illinois
                        • New York
                        • Ohio
                        • Pennsylvania
                        • Texas
                        • Asia-Pacific
                          • Australia
                          • China
                          • India
                          • Indonesia
                          • Japan
                          • Malaysia
                          • Philippines
                          • Singapore
                          • South Korea
                          • Taiwan
                          • Thailand
                          • Vietnam
                          • Europe, Middle East & Africa
                            • Denmark
                            • Egypt
                            • Finland
                            • France
                            • Germany
                            • Israel
                            • Italy
                            • Netherlands
                            • Nigeria
                            • Norway
                            • Poland
                            • Qatar
                            • Russia
                            • Saudi Arabia
                            • South Africa
                            • Spain
                            • Sweden
                            • Switzerland
                            • Turkey
                            • United Arab Emirates
                            • United Kingdom
                            
                            
                            Please Note: PDF & Excel + Online Access - 1 Year