According to the new market research report “Structural Core Materials Market by Type (Foam, Honeycomb, and Balsa), Outer Skin Type (GFRP, CFRP, and NFRP), End-use Industry (Aerospace, Wind Energy, Marine, Transportation, and Construction), and Region – Global Forecasts to 2027″, The structural core materials market is projected to reach USD 3.53 billion by 2027, at a CAGR of 8.8% during the forecast period.
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Foam is the most common structural core material used in various applications due to its easy availability and low cost. Foam structural core materials are used in the sandwich construction of wind turbine blades, and they impart strength and stiffness while keeping the structure lightweight. PVC, PET, and SAN foams are the most popular structural core materials used in wind energy turbines. These foams are used in various applications, such as wind energy blades and nacelles, depending on their resin compatibility, temperature, manufacturing aspects, and costs. The demand for lightweight and fuel-efficient vehicles in the transportation industry is also driving the demand for foam. Moreover, they are used in various end-use industries, including marine.
GFRP is a composite outer skin which is used in composite applications, especially in the wind energy, transportation, construction, and marine end-use industries. GFRP is mainly used in combination with balsa and PVC foam. GFRP panels provide a strong scratch resistant surface, chemical resistance, durability, and is lightweight. It is preferred over other building materials as it saves maintenance cost and is cheaper than other outer skins. Some of the major applications of GFRP includes wind blades, walls, and ceilings.
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Structural core materials are extensively used in composite and non-composite panels, as they aid in increasing the panel’s stiffness and decreasing its density. The demand for structural core materials is increasing significantly with the increasing penetration of composites in various end-use industries, such as aerospace, wind energy, marine, transportation, and construction. The structural core materials market is projected to grow from USD 1.52 Billion in 2017 to USD 2.32 Billion by 2022, at a CAGR of 8.8% during the forecast period.
Major structural core material manufacturers are Diab Group (Sweden), Hexcel Corporation (US), Schweiter Technologies (Switzerland), Euro Composites (Luxembourg), Gurit Holding (Switzerland), The Gill Corporation (US), Changzhou Tiansheng New Materials Co. Ltd. (China), Plascore Incorporated (US), Armacell International (Luxembourg), and Evonik Industries (Germany). Diab Group (Sweden) and Hexcel Corporation (US) are the most active players in the structural core materials market. These companies adopted various strategies to enhance their market shares in the global structural core materials market.
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Diab Group (Sweden) is engaged in development, manufacturing, sales, and marketing of structural core materials for sandwich structures. The company follows dynamic growth strategies with agreements, partnerships, expansions, and new product launches as major growth strategies to enhance its regional presence. For instance, in March 2017, Diab Group and Chimpex Industrial (Italy) collaborated to develop the material Divinycell P60 for enhancing the mechanical properties of FRP sandwich solution to be used in the ETR 675 (new Italo Train). The partnership would help develop more materials and increase product portfolio.
Hexcel Corporation (US) is engaged in manufacturing, sales, and marketing of honeycomb and foam core materials. It is one of the major players to establish a strong foothold in the structural core materials market. The company has a broad and diversified structural core materials product portfolio, which ensures its consistent growth in the global structural core materials market. It is focused on agreements and expansions as its key growth strategies to meet the growing demand of its customers. The company established a new manufacturing facility in Casablanca, Morocco to cater to the increasing demand for structural honeycomb core materials. This approach by the company is aimed at providing secondary structures of aircraft, nacelles, and helicopter blades to the aerospace industry.
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