Core Materials Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Core Materials Market
The international core materials market size turned into valued at USD 2.06 billion in 2023 and is projected to develop from USD 2.18 billion in 2024 to USD 4.38 billion by 2032, showing a CAGR of 8.8% throughout the forecast duration from 2024 to 2032.
COVID-19, which emerged in 2019, extensively disrupted the center materials market length. Supply chain fluctuations led to halted or decreased production, whilst demand plummeted as cease-use industries operated at minimum capacity. Restrictions in countries like the U.S., India, and China further exacerbated those challenges, ensuing in massive losses for the enterprise.
The core materials market growth is driven by the booming aerospace industry. These materials, like polystyrene and honeycombs, are essential in making flight vehicles, UAVs, and airships due to their strength, flexibility, and low maintenance. Their lightweight nature improves fuel efficiency, while design flexibility makes maintenance easier, leading to increased use in aerospace components and boosting the market.
The core materials market is seeing a increase in demand for PET and PVC-based memory foams, especially in car seats and industrial applications, due to their excellent properties and the growing populations in countries like Germany and Japan.
Comprehensive Analysis of Core MaterialsMarket
Segmentation in the Core Materials market share is driving the market because it allows companies to target unique consumer groups with tailored services and answers. The core materials market is divided into types like foam, honeycomb, and balsa. When it comes to applications, these materials are used in various industries including marine, automotive, aerospace, energy, construction, and industrial. This segmentation helps meet the specific needs of each industry.
Asia Pacific leads the core materials market due to its high industrial activity and large populations in India and China. The region's significant demand for automotive components drives market growth, even with COVID-19 challenges.
Key players in the core materials market are stepping up by providing products to the automotive and aerospace industries. Their innovations and solid supply chains keep the market growing by meeting the high demands of these sectors.Key companies in the core materials market include Hexcel Corporation (U.S.), Diab Group (Sweden), Armacell International S.A. (Luxembourg), Evonik Industries AG (Germany), Plascore Incorporated (U.S.), Gurit Holding AG (Switzerland), Euro-Composites S.A. (Luxembourg), 3A Composites (Switzerland), The Gill Corporation (U.S.), and Changzhou Tiansheng New Materials Co., Ltd. (China).
In February 2021, Armacell International S.A. Rolled out some new bendy PET foams to reinforce their sales. They're aiming to amp up their market game and meet the growing demand for top-notch core materials worldwide.
Segementation Table
Global Core Materials Market Scope
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 8.8% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Type
Foam
Honeycomb
Balsa
By Application
Marine
Automotive
Aerospace
Energy
Construction
Industrial
By Geography
North America (By Type, By Application, By Country)
- U.S. (By Application)
- Canada (By Application)
Europe (By Type, By Application, By Country)
- Germany (By Application)
- U.K. (By Application)
- France (By Application)
- Italy (By Application)
- Rest of Europe (By Application)
Asia Pacific (By Type, By Application, By Country)
- China (By Application)
- Japan (By Application)
- India (By Application)
- South Korea (By Application)
- Rest of Asia Pacific (By Application)
Latin America (By Type, By Application, By Country)
- Brazil (By Application)
- Mexico (By Application)
- Rest of Latin America (By Application)
Middle East & Africa (By Type, By Application, By Country)
- Saudi Arabia (By Application)
- South Africa (By Application)
- Rest of Middle East & Africa (By Application)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Emerging Trends – For Major Region
- 4.2. Key Developments: Capacity Expansions, Acquisitions, Partnerships, etc.
- 4.3. Latest Technological Advancement
- 4.4. Insights on Regulatory Scenario
- 4.5. Porters Five Forces Analysis
- 4.6. Impact of COVID-19 on Global Core Materials Market
- 5. Global Core Materials Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Key Findings / Summary
- 5.2. By Type (Value)
- 5.2.1. Foam
- 5.2.2. Honeycomb
- 5.2.3. Balsa
- 5.3. By Application (Value)
- 5.3.1. Marine
- 5.3.2. Automotive
- 5.3.3. Aerospace
- 5.3.4. Energy
- 5.3.5. Construction
- 5.3.6. Industrial
- 5.4. By Region (Value)
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Latin America
- 5.4.5. Middle East and Africa
- 6. North America Core Materials Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Key Findings / Summary
- 6.2. By Type (Value)
- 6.2.1. Foam
- 6.2.2. Honeycomb
- 6.2.3. Balsa
- 6.3. By Application (Value)
- 6.3.1. Marine
- 6.3.2. Automotive
- 6.3.3. Aerospace
- 6.3.4. Energy
- 6.3.5. Construction
- 6.3.6. Industrial
- 6.4. By Country (Value)
- 6.4.1. U.S
- 6.4.1.1. By Application (Value)
- 6.4.1.1.1. Marine
- 6.4.1.1.2. Automotive
- 6.4.1.1.3. Aerospace
- 6.4.1.1.4. Energy
- 6.4.1.1.5. Construction
- 6.4.1.1.6. Industrial
- 6.4.2. Canada
- 6.4.2.1. By Application (Value)
- 6.4.2.1.1. Marine
- 6.4.2.1.2. Automotive
- 6.4.2.1.3. Aerospace
- 6.4.2.1.4. Energy
- 6.4.2.1.5. Construction
- 6.4.2.1.6. Industrial
- 7. Europe Core Materials Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Key Findings / Summary
- 7.2. By Type (Value)
- 7.2.1. Foam
- 7.2.2. Honeycomb
- 7.2.3. Balsa
- 7.3. By Application (Value)
- 7.3.1. Marine
- 7.3.2. Automotive
- 7.3.3. Aerospace
- 7.3.4. Energy
- 7.3.5. Construction
- 7.3.6. Industrial
- 7.4. By Country (Value)
- 7.4.1. Germany
- 7.4.1.1. By Application (Value)
- 7.4.1.1.1. Marine
- 7.4.1.1.2. Automotive
- 7.4.1.1.3. Aerospace
- 7.4.1.1.4. Energy
- 7.4.1.1.5. Construction
- 7.4.1.1.6. Industrial
- 7.4.2. U.K.
- 7.4.2.1. By Application (Value)
- 7.4.2.1.1. Marine
- 7.4.2.1.2. Automotive
- 7.4.2.1.3. Aerospace
- 7.4.2.1.4. Energy
- 7.4.2.1.5. Construction
- 7.4.2.1.6. Industrial
- 7.4.3. France
- 7.4.3.1. By Application (Value)
- 7.4.3.1.1. Marine
- 7.4.3.1.2. Automotive
- 7.4.3.1.3. Aerospace
- 7.4.3.1.4. Energy
- 7.4.3.1.5. Construction
- 7.4.3.1.6. Industrial
- 7.4.4. Italy
- 7.4.4.1. By Application (Value)
- 7.4.4.1.1. Marine
- 7.4.4.1.2. Automotive
- 7.4.4.1.3. Aerospace
- 7.4.4.1.4. Energy
- 7.4.4.1.5. Construction
- 7.4.4.1.6. Industrial
- 7.4.4.1.7. Rest of Europe
- 7.4.5. Rest of Europe
- 7.4.5.1. By Application (Value)
- 7.4.5.1.1. Marine
- 7.4.5.1.2. Automotive
- 7.4.5.1.3. Aerospace
- 7.4.5.1.4. Energy
- 7.4.5.1.5. Construction
- 7.4.5.1.6. Industrial
- 8. Asia-Pacific Core Materials Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Key Findings / Summary
- 8.2. By Type (Value)
- 8.2.1. Foam
- 8.2.2. Honeycomb
- 8.2.3. Balsa
- 8.3. By Application (Value)
- 8.3.1. Marine
- 8.3.2. Automotive
- 8.3.3. Aerospace
- 8.3.4. Energy
- 8.3.5. Construction
- 8.3.6. Industrial
- 8.4. By Country (Value)
- 8.4.1. China
- 8.4.1.1. By Application (Value)
- 8.4.1.1.1. Marine
- 8.4.1.1.2. Automotive
- 8.4.1.1.3. Aerospace
- 8.4.1.1.4. Energy
- 8.4.1.1.5. Construction
- 8.4.1.1.6. Industrial
- 8.4.2. Japan
- 8.4.2.1. By Application (Value)
- 8.4.2.1.1. Marine
- 8.4.2.1.2. Automotive
- 8.4.2.1.3. Aerospace
- 8.4.2.1.4. Energy
- 8.4.2.1.5. Construction
- 8.4.2.1.6. Industrial
- 8.4.3. India
- 8.4.3.1. By Application (Value)
- 8.4.3.1.1. Marine
- 8.4.3.1.2. Automotive
- 8.4.3.1.3. Aerospace
- 8.4.3.1.4. Energy
- 8.4.3.1.5. Construction
- 8.4.3.1.6. Industrial
- 8.4.4. South Korea
- 8.4.4.1. By Application (Value)
- 8.4.4.1.1. Marine
- 8.4.4.1.2. Automotive
- 8.4.4.1.3. Aerospace
- 8.4.4.1.4. Energy
- 8.4.4.1.5. Construction
- 8.4.4.1.6. Industrial
- 8.4.5. Rest of Asia Pacific
- 8.4.5.1. By Application (Value)
- 8.4.5.1.1. Marine
- 8.4.5.1.2. Automotive
- 8.4.5.1.3. Aerospace
- 8.4.5.1.4. Energy
- 8.4.5.1.5. Construction
- 8.4.5.1.6. Industrial
- 9. Latin America Core Materials Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Key Findings / Summary
- 9.2. By Type (Value)
- 9.2.1. Foam
- 9.2.2. Honeycomb
- 9.2.3. Balsa
- 9.3. By Application (Value)
- 9.3.1. Marine
- 9.3.2. Automotive
- 9.3.3. Aerospace
- 9.3.4. Energy
- 9.3.5. Construction
- 9.3.6. Industrial
- 9.4. By Country (Value)
- 9.4.1. Brazil
- 9.4.1.1. By Application (Value)
- 9.4.1.1.1. Marine
- 9.4.1.1.2. Automotive
- 9.4.1.1.3. Aerospace
- 9.4.1.1.4. Energy
- 9.4.1.1.5. Construction
- 9.4.1.1.6. Industrial
- 9.4.2. Mexico
- 9.4.2.1. By Application (Value)
- 9.4.2.1.1. Marine
- 9.4.2.1.2. Automotive
- 9.4.2.1.3. Aerospace
- 9.4.2.1.4. Energy
- 9.4.2.1.5. Construction
- 9.4.2.1.6. Industrial
- 9.4.3. Rest of Latin America
- 9.4.3.1. By Application (Value)
- 9.4.3.1.1. Marine
- 9.4.3.1.2. Automotive
- 9.4.3.1.3. Aerospace
- 9.4.3.1.4. Energy
- 9.4.3.1.5. Construction
- 9.4.3.1.6. Industrial
- 10. Middle East & Africa Core Materials Market Analysis, Insights and Forecast, 2019-2032
- 10.1. 11.1. Key Findings / Summary
- 10.2. 11.2. By Type (Value)
- 10.2.1. 11.2.1. Foam
- 10.2.2. 11.2.2. Honeycomb
- 10.2.3. 11.2.2. Balsa
- 10.3. By Application (Value)
- 10.3.1. Marine
- 10.3.2. Automotive
- 10.3.3. Aerospace
- 10.3.4. Energy
- 10.3.5. Construction
- 10.3.6. Industrial
- 10.4. By Country (Value)
- 10.4.1. Saudi Arabia
- 10.4.1.1. By Application (Value)
- 10.4.1.1.1. Marine
- 10.4.1.1.2. Automotive
- 10.4.1.1.3. Aerospace
- 10.4.1.1.4. Energy
- 10.4.1.1.5. Construction
- 10.4.1.1.6. Industrial
- 10.4.2. South Africa
- 10.4.2.1. By Application (Value)
- 10.4.2.1.1. Marine
- 10.4.2.1.2. Automotive
- 10.4.2.1.3. Aerospace
- 10.4.2.1.4. Energy
- 10.4.2.1.5. Construction
- 10.4.2.1.6. Industrial
- 10.4.3. Rest of Middle East and Africa
- 10.4.3.1. By Application (Value)
- 10.4.3.1.1. Marine
- 10.4.3.1.2. Automotive
- 10.4.3.1.3. Aerospace
- 10.4.3.1.4. Energy
- 10.4.3.1.5. Construction
- 10.4.3.1.6. Industrial
- 11. Company Profiles
- 11.1. Evonik Industries AG
- 11.1.1. Overview
- 11.1.2. Description
- 11.1.3. Product Portfolio
- 11.1.4. Financials (Data as available in public domain and/or on paid databases)
- 11.1.5. Recent Developments
- 11.2. Armacell International S.A
- 11.2.1. Overview
- 11.2.2. Description
- 11.2.3. Product Portfolio
- 11.2.4. Financials (Data as available in public domain and/or on paid databases)
- 11.2.5. Recent Developments
- 11.3. Plascore Incorporated
- 11.3.1. Overview
- 11.3.2. Description
- 11.3.3. Product Portfolio
- 11.3.4. Financials (Data as available in public domain and/or on paid databases)
- 11.3.5. Recent Developments
- 11.4. Euro-Composites S.A
- 11.4.1. Overview
- 11.4.2. Description
- 11.4.3. Product Portfolio
- 11.4.4. Financials (Data as available in public domain and/or on paid databases)
- 11.4.5. Recent Developments
- 11.5. Diab Group
- 11.5.1. Overview
- 11.5.2. Description
- 11.5.3. Product Portfolio
- 11.5.4. Financials (Data as available in public domain and/or on paid databases)
- 11.5.5. Recent Developments
- 11.6. 3A Composites
- 11.6.1. Overview
- 11.6.2. Description
- 11.6.3. Product Portfolio
- 11.6.4. Financials (Data as available in public domain and/or on paid databases)
- 11.6.5. Recent Developments
- 11.7. Gurit Holding AG
- 11.7.1. Overview
- 11.7.2. Description
- 11.7.3. Product Portfolio
- 11.7.4. Financials (Data as available in public domain and/or on paid databases)
- 11.7.5. Recent Developments
- 11.8. Hexcel Corporation
- 11.8.1. Overview
- 11.8.2. Description
- 11.8.3. Product Portfolio
- 11.8.4. Financials (Data as available in public domain and/or on paid databases)
- 11.8.5. Recent Developments
- 11.9. The Gill Corporation
- 11.9.1. Overview
- 11.9.2. Description
- 11.9.3. Product Portfolio
- 11.9.4. Financials (Data as available in public domain and/or on paid databases)
- 11.9.5. Recent Developments
- 11.10. Changzhou Tiansheng New Materials Co,. Ltd.
- 11.10.1. Overview
- 11.10.2. Description
- 11.10.3. Product Portfolio
- 11.10.4. Financials (Data as available in public domain and/or on paid databases)
- 11.10.5. Recent Developments
- 11.11. Other Players
- 12. Strategic Recommendations
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