Global Core Materials Market was valued at USD 1.2 billion in 2019 which is expected to reach USD 2.5 billion by 2027 at a CAGR 13.3%.
Core materials are used in aerospace and wind energy equipment for improving strength of material. These are generally low strength material however, its thickness provide the sandwich composite a high bending stiffness with low density. Also, core materials are used in various industries such as automotive, wind energy, and marine.
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Increase in demand from wind energy & aerospace industries for core materials is the key driving factor which is expected to drive the global care materials market growth. Also, increase in launches of core materials will have the positive impact on global core materials market growth. For instance, in March 2018, Evonik industries had launched its new core material which is named as ROCHACRYL, ROCHACRYL has various features such as thermally stable, lightweight, and environment friendly. This product is used in wind energy for manufacturing of turbine blades. Moreover, increase in mergers and acquisition activities by key players expected to propel the global core materials market growth. For Instance, in 2016, Gurit Holding AG acquired the BASF’ S PET Business in Italy. This acquisition will help Gurit Holding AG to expand their PET production capacity in Europe and increase structural core material product range.
However, higher cost of investment and delay in renewal of production of tax credit are the restraining factors which are expected to hamper the global core materials market growth.
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Global Core Materials Market is segmented into type such as Balsa, Thermoplastic, Aramid, Aluminum, Honeycomb, SAN Foam, PET Foam, PVC Foam, and PVC Foam. Further, Global Core Materials Market is segmented into industry vertical such as Construction, Transportation, Marine, Wind Energy, Aerospace, and Others.
Also, Global Core Materials Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market Key Players
Various key players are discussed in this report such as The Gill Corporation, Euro-Composites S.A, Changzhou Tiansheng New Materials Co. Ltd, 3A Composites, Armacell International S.A, Hexcel Corporation, Gurit Holding AG,and Evonik Industries.
The market overview was noted on a zero-deviation approach & have maintained excellent quality research techniques throughout the Core Materials market analysis. The segmental outline targets facets of the Core Materials market. The regional analysis of the market provides an idea regarding the regional progress of the market as well as the identification of growth windows. In addition, the key vendors of the market have been segregated on a regional basis. Interviews with key people of the market and other credible sources like whitepaper are referred for designing the key operating player’s section. Furthermore, finally, the Core Materials market update section mentions the recent key developments in the Core Materials market. Plethoric insights into the target market help clients in making rational business decisions.
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