Pune, India, July 30, 2019 (GLOBE NEWSWIRE) -- Market Overview:
Structural Core Materials find wide application in composites primarily to improve their physical properties. The mostly used Structural Core Materials are balsa, honeycomb, and foam. Balsa has an increasing aspect ratio and is broadly used in navy vessels, boat hulls, industrial tanks, military aircraft among others. Honeycomb materials comprise of paper, aluminum, impregnated fiberglass, and polypropylene. Honeycomb finds applications in enormously lightweight panels. As per reports by Market Research Future, the Worldwide Structural Core Materials Market has been anticipated to develop at a CAGR of more than 5% over the forecast period. Market growth has been driven by growing product demand from the aerospace and automobile sectors. Furthermore, with increasing global trade, the marine sector has seen considerable growth of late which, in turn, has been expected to have a positive influence on the Global Structural Core Materials Market. The increasing demand for lightweight materials in automobiles, marine vessels, and aircraft owing to their surging fuel productivity is likely to be a key driving force in the market growth.
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Based on Product Type, the honeycomb segment held the largest share in 2017 and is likely to remain intact over the forecast period. The increasing application of honeycomb in lightweight construction industries and applications such as aerospace is supporting the growth of the segment. Based on skin type, the carbon fiber integrated polymer segment is likely to attain the largest revenue over the forecast period. These composites come with outstanding properties such as low thermal expansion, stiffness, and high tensile strength which makes them suitable for any end-use industry.
Market Segmentation:
The Worldwide Structural Core Materials Market has been segmented based on Skin Type, Product, and End-Use Industry.
Based on Skin Type, the market has been segmented into natural fiber reinforced polymer (NFRP), carbon fiber reinforced polymer (CFRP), glass fiber reinforced polymer (GFRP), and others.
Based on Product, the market has been segmented into balsa, honeycomb, and foam.
Based on End-Use Industry, the market has been segmented into automotive, aerospace, marine, construction, wind energy, and others.
Based on Region, the market has been segmented into Europe, North America, Latin America, Asia-Pacific, and the Middle East & Africa.
Browse the market data and information spread across 100 pages with 47 data tables and 12 figures of the report “Structural Core Materials Market Report - Forecast 2018-2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/structural-core-materials-market-6213
Key Players:
The Global Structural Core Materials Market has been dominated by Key Players such as Hexcel Corporation (U.S.), Diab Group (Sweden), Euro Composites (Luxembourg), Schweiter Technologies (Switzerland), The Gill Corporation (U.S.), Gurit Holding (Switzerland), Plascore Incorporated (U.S.), Changzhou Tiansheng New Materials Co. Ltd. (China), Evonik Industries (Germany), and Armacell International (Luxembourg).
Regional Analysis:
The Asia-Pacific market is likely to be the fastest-growing regional market. Growing automobile production in the area has been acting as a key driver for the market growth. Moreover, the expanding construction industry, primarily in China and India, is also propelling the demand for structural core materials. The surging inclination toward green energy has encouraged the development of the wind energy sector, in turn, driving the requirement for structural core materials in the market. For example, as per the Indian Ministry of New and Renewable Energy, India has been ranked fourth in the worldwide wind power installed capacity and it has a target of reaching 175 GW by the conclusion of 2022.
In 2017, North America held the largest market share and is likely to preserve its lead over the forecast period. The prevalence of developed automobile and aerospace sectors contributes significantly to the expansion of the market mainly in Canada and the U.S. Additionally, rising government outlay in the construction industry has been positively impacting product demand. As per the United States Census Bureau, in 2016, total construction expenditure in the U.S. was USD 1,191,812 which reached 1,246,000 by the conclusion of 2017.
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