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Core Materials for Composites Market Forecasts to 2028 – Global Analysis By Type (Honeycomb, Foam Core, Balsa and Other Types), End User and By Geography

Best Price Guarantee Length Publisher Published Date SKU
from $4,150 175 Pages Stratistics Market Research Consulting June, 2023 SMR17973367
Best Price Guarantee
Price from $4,150
Length 175 Pages
Publisher Stratistics Market Research Consulting
Published Date June, 2023
SKU SMR17973367

Core Materials for Composites Market Forecasts to 2028 – Global Analysis By Type (Honeycomb, Foam Core, Balsa and Other Types), End User and By Geography


According to Stratistics MRC, the Global Core Materials for Composites Market is accounted for $1,937.5 million in 2022 and is expected to reach $3,584.9 million by 2028 growing at a CAGR of 10.7% during the forecast period. In order to create high-strength-to-weight ratio structures for end-use applications, core or structural materials are lightweight and make use of high-strength materials. These components serve as the main building block in the production of sandwich panels and are often constructed of engineering materials like foam, wood, or paper. Typically, the matrix material holds the core material in place between two layers of reinforcement material. Various materials, including foam, honeycomb, balsa wood, and metal, can be used to create it.

According to the US Department of Energy, the demand for wind energy in the US is expected to grow by 20% by 2030. The European Commission has set a target of generating 27% of its energy from renewable sources by 2030, which is expected to drive the demand for composites in wind energy applications.

Market Dynamics:

Driver:

Growth in the aerospace industry

Due to its special characteristics, including high strength, remarkable flexibility, radar transparency, and low thermal conductivity, the product is heavily utilised in flight vehicles, unscrewed air vehicles, and airships, which is why the market is expanding in tandem with the aerospace sector. The market is expanding as a result of the use of various materials to create the necessary sandwich structure and extra features.

Restraint:

Rising concerns for sustainable production

The growing need for sustainable production methods and environmental concerns can limit market expansion. Industries make panels for flooring, bulkheads, and hatches out of this material for use in sandwich structures. Wood, PET, and PVC are frequently used to create these materials. To produce these polymers and cut the wood, numerous nations have put restrictions in place. These therefore serve as market restraints.

Opportunity:

Rising demand for memory foams

The end-use industries saw an increase in demand for foam materials with memory. This memory foam is frequently used in spray foam, vehicle seats, and other products. Due to their outstanding qualities, foam materials are also becoming more popular in industrial applications. As a result, the market is expanding due to the enormous opportunity created by the increased demand for memory foam.

Threat:

High cost of raw materials

The cost of manufacturing these parts is higher than that of conventional metallic parts, though this could alter as usage and production increase. Additionally, it is difficult to recycle and needs a lot of care. Furthermore, composite materials are more fragile and susceptible to damage as compared to wrought materials. Their repairs have some problems. Therefore, these elements are impeding the market's expansion.

Covid-19 Impact

COVID-19 affected almost all of the nations in the world. Variations in the supply chain resulted in a halt or reduction in the manufacturing of core materials. As a result, there was little demand for the product and little production. Additionally, because the end-use sectors were operating at their lowest production capacity, the product's makers and suppliers had to contend with low demand for the product. The demand for the product is immediately impacted by the closing of these production facilities because, thanks to its outstanding stiffness, it is frequently used to make dashboard padding, seat constructions, and other things. In addition, it was difficult for the goods makers to balance their business objectives with basic needs.

The foam core segment is expected to be the largest during the forecast period

The foam core segment is estimated to have a lucrative growth, due to their massive usage in the automotive and aerospace industries. It can be improved by creating a structural sandwich out of sheets of composite material and foam components. The market is anticipated to be driven by rising demand for complicated lightweight systems from the aerospace and wind energy sectors as well as low water absorption materials in marine building.

The automotive segment is expected to have the highest CAGR during the forecast period

The automotive segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the growing depletion of oil resources has increased oil prices thereby, boosting the demand for lightweight and fuel-efficient vehicles. The industry is encouraged to use composite materials as a result of the rising need for lightweight automobiles, which is anticipated to increase demand for the raw materials used to make composites.

Region with Largest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to increasing demand from end-use. Increased demand for automobiles as a result of rising disposable income and a growing population is the cause of the expansion. Furthermore, the region's growing industrialization and government attempts to improve the infrastructure are projected to fuel product use across a range of applications.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period, owing to the rapid increase in the region's automotive industry. The major market is expanding as a result of factors including high per capita income and consumer preference for vehicles and trucks. In addition, the existence of a few material manufacturers in the area is anticipated to increase regional material consumption.

Key players in the market

Some of the key players profiled in the Core Materials for Composites Market include 3A Composites, Gurit Holding AG, Euro-Composites SA, Diab International AB, Armacell International, Hexcel Corporation, Saertex, Evonik Industries, The Gill Corporation, Plascore Incorporated and BASF SE.

Key Developments:

In December 2022, 3A Composites Core Materials, a global leader in developing and manufacturing high-performance core materials for composite applications, launched a new product line, Engicore core materials.

Type Covered:
• Honeycomb
• Foam Core
• Balsa
• Other Types

End Users Covered:
• Wind Energy
• Consumer Goods
• Construction
• Marine
• Aerospace & Defense
• Automotive
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements


1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
>
2.3 Research Scope
>
2.4 Research Methodology
>
2.4.1 Data Mining
>
2.4.2 Data Analysis
>
2.4.3 Data Validation
>
2.4.4 Research Approach
>
2.5 Research Sources
>
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
>
3 Market Trend Analysis
3.1 Introduction
>
3.2 Drivers
3.3 Restraints
>
3.4 Opportunities
>
3.5 Threats
3.6 End User Analysis
>
3.7 Emerging Markets
>
3.8 Impact of Covid-19
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4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
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4.2 Bargaining power of buyers
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4.3 Threat of substitutes
>
4.4 Threat of new entrants
>
4.5 Competitive rivalry
>
5 Global Core Materials for Composites Market, By Type
5.1 Introduction
>
5.2 Honeycomb
>
5.2.1 Nomex Honeycomb
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5.2.2 Aluminum Honeycomb
5.2.3 Thermoplastic Honeycomb
5.3 Foam Core
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5.3.1 PMMA Foam
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5.3.2 PVC Foam
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5.3.3 Polystyrene Foam
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5.3.4 SAN Co-polymer Foam
5.3.5 Polyurethane Foam
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5.4 Balsa
5.5 Other Types
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6 Global Core Materials for Composites Market, By End User
6.1 Introduction
>
6.2 Wind Energy
>
6.3 Consumer Goods
>
6.4 Construction
>
6.5 Marine
6.6 Aerospace & Defense
>
6.7 Automotive
>
6.8 Other End Users
>
7 Global Core Materials for Composites Market, By Geography
7.1 Introduction
>
7.2 North America
>
7.2.1 US
>
7.2.2 Canada
>
7.2.3 Mexico
>
7.3 Europe
7.3.1 Germany
>
7.3.2 UK
>
7.3.3 Italy
>
7.3.4 France
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7.3.5 Spain
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7.3.6 Rest of Europe
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7.4 Asia Pacific
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7.4.1 Japan
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7.4.2 China
>
7.4.3 India
>
7.4.4 Australia
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7.4.5 New Zealand
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7.4.6 South Korea
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7.4.7 Rest of Asia Pacific
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7.5 South America
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7.5.1 Argentina
>
7.5.2 Brazil
>
7.5.3 Chile
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7.5.4 Rest of South America
7.6 Middle East & Africa
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7.6.1 Saudi Arabia
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7.6.2 UAE
>
7.6.3 Qatar
>
7.6.4 South Africa
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7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
>
8.2 Acquisitions & Mergers
>
8.3 New Product Launch
>
8.4 Expansions
>
8.5 Other Key Strategies
>
9 Company Profiling
9.1 3A Composites
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9.2 Gurit Holding AG
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9.3 Euro-Composites SA
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9.4 Diab International AB
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9.5 Armacell International
>
9.6 Hexcel Corporation
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9.7 Saertex
9.8 Evonik Industries
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9.9 The Gill Corporation
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9.10 Plascore Incorporated
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9.11 BASF SE
List of Tables
>
Table 1 Global Core Materials for Composites Market Outlook, By Region (2020-2028) ($MN)
Table 2 Global Core Materials for Composites Market Outlook, By Type (2020-2028) ($MN)
Table 3 Global Core Materials for Composites Market Outlook, By Honeycomb (2020-2028) ($MN)
Table 4 Global Core Materials for Composites Market Outlook, By Foam Core (2020-2028) ($MN)
Table 5 Global Core Materials for Composites Market Outlook, By Balsa (2020-2028) ($MN)
Table 6 Global Core Materials for Composites Market Outlook, By Other Types (2020-2028) ($MN)
Table 7 Global Core Materials for Composites Market Outlook, By End User (2020-2028) ($MN)
Table 8 Global Core Materials for Composites Market Outlook, By Wind Energy (2020-2028) ($MN)
Table 9 Global Core Materials for Composites Market Outlook, By Consumer Goods (2020-2028) ($MN)
Table 10 Global Core Materials for Composites Market Outlook, By Construction (2020-2028) ($MN)
Table 11 Global Core Materials for Composites Market Outlook, By Marine (2020-2028) ($MN)
Table 12 Global Core Materials for Composites Market Outlook, By Aerospace & Defense (2020-2028) ($MN)
Table 13 Global Core Materials for Composites Market Outlook, By Automotive (2020-2028) ($MN)
Table 14 Global Core Materials for Composites Market Outlook, By Other End Users (2020-2028) ($MN)
Table 15 North America Core Materials for Composites Market Outlook, By Country (2020-2028) ($MN)
Table 16 North America Core Materials for Composites Market Outlook, By Type (2020-2028) ($MN)
Table 17 North America Core Materials for Composites Market Outlook, By Honeycomb (2020-2028) ($MN)
Table 18 North America Core Materials for Composites Market Outlook, By Foam Core (2020-2028) ($MN)
Table 19 North America Core Materials for Composites Market Outlook, By Balsa (2020-2028) ($MN)
Table 20 North America Core Materials for Composites Market Outlook, By Other Types (2020-2028) ($MN)
Table 21 North America Core Materials for Composites Market Outlook, By End User (2020-2028) ($MN)
Table 22 North America Core Materials for Composites Market Outlook, By Wind Energy (2020-2028) ($MN)
Table 23 North America Core Materials for Composites Market Outlook, By Consumer Goods (2020-2028) ($MN)
Table 24 North America Core Materials for Composites Market Outlook, By Construction (2020-2028) ($MN)
Table 25 North America Core Materials for Composites Market Outlook, By Marine (2020-2028) ($MN)
Table 26 North America Core Materials for Composites Market Outlook, By Aerospace & Defense (2020-2028) ($MN)
Table 27 North America Core Materials for Composites Market Outlook, By Automotive (2020-2028) ($MN)
Table 28 North America Core Materials for Composites Market Outlook, By Other End Users (2020-2028) ($MN)
Table 29 Europe Core Materials for Composites Market Outlook, By Country (2020-2028) ($MN)
Table 30 Europe Core Materials for Composites Market Outlook, By Type (2020-2028) ($MN)
Table 31 Europe Core Materials for Composites Market Outlook, By Honeycomb (2020-2028) ($MN)
Table 32 Europe Core Materials for Composites Market Outlook, By Foam Core (2020-2028) ($MN)
Table 33 Europe Core Materials for Composites Market Outlook, By Balsa (2020-2028) ($MN)
Table 34 Europe Core Materials for Composites Market Outlook, By Other Types (2020-2028) ($MN)
Table 35 Europe Core Materials for Composites Market Outlook, By End User (2020-2028) ($MN)
Table 36 Europe Core Materials for Composites Market Outlook, By Wind Energy (2020-2028) ($MN)
Table 37 Europe Core Materials for Composites Market Outlook, By Consumer Goods (2020-2028) ($MN)
Table 38 Europe Core Materials for Composites Market Outlook, By Construction (2020-2028) ($MN)
Table 39 Europe Core Materials for Composites Market Outlook, By Marine (2020-2028) ($MN)
Table 40 Europe Core Materials for Composites Market Outlook, By Aerospace & Defense (2020-2028) ($MN)
Table 41 Europe Core Materials for Composites Market Outlook, By Automotive (2020-2028) ($MN)
Table 42 Europe Core Materials for Composites Market Outlook, By Other End Users (2020-2028) ($MN)
Table 43 Asia Pacific Core Materials for Composites Market Outlook, By Country (2020-2028) ($MN)
Table 44 Asia Pacific Core Materials for Composites Market Outlook, By Type (2020-2028) ($MN)
Table 45 Asia Pacific Core Materials for Composites Market Outlook, By Honeycomb (2020-2028) ($MN)
Table 46 Asia Pacific Core Materials for Composites Market Outlook, By Foam Core (2020-2028) ($MN)
Table 47 Asia Pacific Core Materials for Composites Market Outlook, By Balsa (2020-2028) ($MN)
Table 48 Asia Pacific Core Materials for Composites Market Outlook, By Other Types (2020-2028) ($MN)
Table 49 Asia Pacific Core Materials for Composites Market Outlook, By End User (2020-2028) ($MN)
Table 50 Asia Pacific Core Materials for Composites Market Outlook, By Wind Energy (2020-2028) ($MN)
Table 51 Asia Pacific Core Materials for Composites Market Outlook, By Consumer Goods (2020-2028) ($MN)
Table 52 Asia Pacific Core Materials for Composites Market Outlook, By Construction (2020-2028) ($MN)
Table 53 Asia Pacific Core Materials for Composites Market Outlook, By Marine (2020-2028) ($MN)
Table 54 Asia Pacific Core Materials for Composites Market Outlook, By Aerospace & Defense (2020-2028) ($MN)
Table 55 Asia Pacific Core Materials for Composites Market Outlook, By Automotive (2020-2028) ($MN)
Table 56 Asia Pacific Core Materials for Composites Market Outlook, By Other End Users (2020-2028) ($MN)
Table 57 South America Core Materials for Composites Market Outlook, By Country (2020-2028) ($MN)
Table 58 South America Core Materials for Composites Market Outlook, By Type (2020-2028) ($MN)
Table 59 South America Core Materials for Composites Market Outlook, By Honeycomb (2020-2028) ($MN)
Table 60 South America Core Materials for Composites Market Outlook, By Foam Core (2020-2028) ($MN)
Table 61 South America Core Materials for Composites Market Outlook, By Balsa (2020-2028) ($MN)
Table 62 South America Core Materials for Composites Market Outlook, By Other Types (2020-2028) ($MN)
Table 63 South America Core Materials for Composites Market Outlook, By End User (2020-2028) ($MN)
Table 64 South America Core Materials for Composites Market Outlook, By Wind Energy (2020-2028) ($MN)
Table 65 South America Core Materials for Composites Market Outlook, By Consumer Goods (2020-2028) ($MN)
Table 66 South America Core Materials for Composites Market Outlook, By Construction (2020-2028) ($MN)
Table 67 South America Core Materials for Composites Market Outlook, By Marine (2020-2028) ($MN)
Table 68 South America Core Materials for Composites Market Outlook, By Aerospace & Defense (2020-2028) ($MN)
Table 69 South America Core Materials for Composites Market Outlook, By Automotive (2020-2028) ($MN)
Table 70 South America Core Materials for Composites Market Outlook, By Other End Users (2020-2028) ($MN)
Table 71 Middle East & Africa Core Materials for Composites Market Outlook, By Country (2020-2028) ($MN)
Table 72 Middle East & Africa Core Materials for Composites Market Outlook, By Type (2020-2028) ($MN)
Table 73 Middle East & Africa Core Materials for Composites Market Outlook, By Honeycomb (2020-2028) ($MN)
Table 74 Middle East & Africa Core Materials for Composites Market Outlook, By Foam Core (2020-2028) ($MN)
Table 75 Middle East & Africa Core Materials for Composites Market Outlook, By Balsa (2020-2028) ($MN)
Table 76 Middle East & Africa Core Materials for Composites Market Outlook, By Other Types (2020-2028) ($MN)
Table 77 Middle East & Africa Core Materials for Composites Market Outlook, By End User (2020-2028) ($MN)
Table 78 Middle East & Africa Core Materials for Composites Market Outlook, By Wind Energy (2020-2028) ($MN)
Table 79 Middle East & Africa Core Materials for Composites Market Outlook, By Consumer Goods (2020-2028) ($MN)
Table 80 Middle East & Africa Core Materials for Composites Market Outlook, By Construction (2020-2028) ($MN)
Table 81 Middle East & Africa Core Materials for Composites Market Outlook, By Marine (2020-2028) ($MN)
Table 82 Middle East & Africa Core Materials for Composites Market Outlook, By Aerospace & Defense (2020-2028) ($MN)
Table 83 Middle East & Africa Core Materials for Composites Market Outlook, By Automotive (2020-2028) ($MN)
Table 84 Middle East & Africa Core Materials for Composites Market Outlook, By Other End Users (2020-2028) ($MN)

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