Structural Core Materials Market Focusing on Current Trends and Leading Fortune Companies That Will Change in Coming Future by 2030
The global structural core materials market is analyzed in detail in the latest research report from Market Research Future (MRFR). The global structural core materials market is profiled by analyzing its key drivers and restraints, leading market segments, and the major players operating in it. The global structural core materials market is expected to grow at a CAGR of around 5% over the forecast period from 2018 to 2023, according to the report.
Structural core
materials are used in composites to enhance their physical characteristics. The
increasing demand for lightweight structural core materials is likely to be a
defining feature of the global structural
core materials market over the forecast period. Reducing the overall
weight of the structure has become a key issue in end-use industries such as
aerospace and automotive, which are major consumers of structural core
materials and are likely to determine the direction of the market over the
forecast period. The increasing demand for lighter honeycomb materials in the
aerospace sector is likely to be a prime driver for the global structural core
materials market over the forecast period.
Reducing the
weight of vehicles has also become a major issue in the automotive industry due
to the need to reduce the volume of emissions from automobiles. Making vehicles
lighter is the surest way of reducing the emissions from the vehicles, leading
to a growing demand for lighter structural core materials from the automotive
industry. The growing prevalence of environmental regulations enforcing a
lighter design in the automotive industry is likely to be a major driver for
the global structural core materials market over the forecast period.
Competitive Analysis:
Leading players
in the global structural core materials market include Diab Group, Schweiter
Technologies, Gurit Holding, Changzhou Tiansheng New Materials Co. Ltd., Armacell
International, Evonik Industries, Plascore Inc., The Gill Corporation, Euro
Composites, and Hexcel Corporation.
In April 2019,
EconCore exhibited its new ThermHex honeycomb processing technology. Revealed
at JEC World 2019, the new technology allows for the creation of lightweight
and more cost-efficient structural core materials.
Segmentation:
The global structural core materials market has been
segmented by product, skin type, end-use industry, and region.
On the basis of product, the structural core materials market
has been segmented into foam, balsa, and honeycomb. Honeycomb is the dominant
product segment in the global structural core materials market, accounting for
a 65% market share in 2017 and looking set to dominate the global market over
the forecast period due to the growing demand for lightweight honeycomb
materials in the aerospace industry.
On the basis of skin type, the structural core materials market
has been segmented into glass fiber reinforced polymer (GFRP), carbon fiber
reinforced polymer (CFRP), natural fiber reinforced polymer (NFRP), and others.
On the basis of end-use industry, the market has been segmented
into aerospace, automotive, wind energy, marine, construction, and others.
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Regional Analysis:
North America is the dominant regional market for structural
core materials due to the growing prospects of the construction, aerospace, and
automotive industries in the region. The region has been at the heart of the
technological innovation in the structural core materials industry over the
last few decades, which has resulted in widespread availability of the most
modern product innovations in the market. The increasing demand from the
automotive and aerospace industries for lighter structural core materials is
likely to dominate the progression of the structural core materials market in
North America over the forecast period. The presence of several leading market
players in the U.S. is also a significant boost for the structural core
materials market in North America.
Asia Pacific is expected to exhibit the fastest growth in the
global structural core materials market over the forecast period, driven by the
rapid progress of the automotive industry in the region. Increasing automotive
production in countries such as China, India, Korea, and Japan is likely to be
the major driver for the structural core materials market in Asia Pacific over
the forecast period. The growing construction industry in East Asia could also
play a key role in the global structural core materials market’s growth over
the forecast period.
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