Selbyville, Delaware, Nov. 04, 2020 (GLOBE NEWSWIRE) -- As per reliable estimates, worldwide core material market had reached a valuation of USD 1548.82 million in 2019 and is expected to register substantial growth during 2020-2025. The robust expansion of the market can be credited to rapid industrialization and urbanization, particularly in China and India, which has in fact resulted in surging investments towards infrastructural development.
The study also elaborates on different market segmentations including type, application scope, and regional outlook. Additionally, a detailed Porter’s Five Forces analysis as well as a thorough SWOT analysis of prominent companies operating in this industry vertical are elucidated, further enabling for effective decision making while evaluating investments.
It is to be noted that core materials provide low-density and high stiffness during sandwich composite construction. Shifting preference towards using high performance and lightweight materials, along with growing product demand from composite component manufacturers are augmenting the industry remuneration.
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Industry analysts predict that new power generation assets will witness an investment of around USD 13 trillion by the year 2050. It is further cited that over 77% of these investments will be allocated to renewable energy sector, adding an average of 125 GW in wind capacity each year. Hence, inflowing funding aimed towards energy & power infrastructure development will boost the demand for core materials, stimulating market outlook.
Summarizing the market segmentations
Based on type, the market is split into honeycomb, balsa, and foam. Among these, honeycomb segment of global core material industry is reckoned to witness commendable growth in the ensuing years. Technological advancements have resulted in discovery of innovative methods in order to produce high-quality products, which in turn is fueling the segmental share.
The application reach of the overall industry comprises of transportation, marine, construction, wind energy, aerospace, and others. Estimates cite that global core material market share from wind energy application is predicted to expand significantly during the forecast period.
Core materials are widely adopted in wind energy sector owing to their high strength and weight reduction properties. In addition, inclination towards increasing the size of wind blades for better output is favoring the overall market scenario.
Elaborating on the regional terrain
Global core material market size is segmented into North America, Asia-Pacific, and Europe, with key focus on countries such as Canada, United States, Germany, France, Spain, United Kingdom, Japan, China, South Korea, and India.
According to authentic estimates, North America presently accounts for the largest market share and is reckoned to witness continuous growth in the subsequent years. Increasing infrastructural development, robust technological breakthroughs, and rapid urbanization have impelled the demand for core materials, which in turn is positively swaying the business dynamics in North America.
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Highlighting the competitive scenario
The companies that define worldwide core material market trends are Changzhou Tiansheng New Materials Co. Ltd., Plascore Inc., Euro Composites Corp., Evonik Industries AG, Armacell International GmbH, Gurit Holding AG, The Gill Corp., 3A Composites GmbH, Hexcel Corp., and Diab Group AB among others. These industry participants are making R&D investments in order to develop products with enhanced quality, thereby gaining competitive advantage in the overall business sphere.
Global Core Material Market by Type (Revenue, USD Million, 2015-2025)
- Honeycomb
- Balsa
- Foam
Global Core Material Market by Application Reach (Revenue, USD Million, 2015-2025)
- Transportation
- Marine
- Construction
- Wind Energy
- Aerospace
- Others
Global Core Material Market Regional Scope (Revenue, USD Million, 2015-2025)
North America
- United States
- Canada
Europe
- United Kingdom
- France
- Spain
- Germany
Asia-Pacific
- India
- Japan
- China
- South Korea
Global Core Material Market Competitive Analysis (Revenue, USD Million, 2015-2025)
- Changzhou Tiansheng New Materials Co. Ltd.
- Plascore Incorporated
- Euro Composites Corp.
- Evonik Industries AG
- Armacell International GmbH
- Gurit Holding AG
- The Gill Corporation
- 3A Composites GmbH
- Hexcel Corporation
- Diab Group AB
Table of Contents
1. Report Scope and Methodology
1.1 Scope of the Report
1.2 Research Methodology
1.3 Executive Summary
2. Strategic Recommendations
3. Global Core Material Market: Product Outlook
4. Global Core Material Market: Sizing and Forecast
4.1 Market Size, By Value, Year 2015-2025
4.2 Impact of COVID-19 on Global Core Material Market
5. Global Core Material Market Segmentation By Type
5.1 Competitive Scenario of Global Core Material: By Type
5.2 Foam Market Size and Forecast (2020-2025)
5.3 Balsa Market Size and Forecast (2020-2025)
5.4 Honeycomb Market Size and Forecast (2020-2025)
6. Global Core Material Market Segmentation By Application
6.1 Competitive Scenario of Global Core Material: By Application
6.2 Aerospace Market Size and Forecast (2020-2025)
6.3 Wind Energy Market Size and Forecast (2020-2025)
6.4 Construction Market Size and Forecast (2020-2025)
6.5 Marine Market Size and Forecast (2020-2025)
7. Global Core Material Market: Regional Analysis
7.1 Competitive Scenario of Global Core Material: By Region, By Value
8. North America Core Material Market: An Analysis (2020-2025)
8.1 North America Core Material Market: Size and Forecast (2020-2025), By Value
8.2 Market Segmentation By Type(Foam, Balsa, Honeycomb)
8.3 Market Segmentation By Application(Aerospace, Wind Energy, Marine, Construction, Transportation, Others)
8.4 North America Core Material Market: Country Analysis
8.5 Competitive Scenario of North America Core Material: By Country, By Value
9. Europe Core Material Market: An Analysis (2020-2025)
9.1 Europe Core Material Market: Size and Forecast (2020-2025), By Value
9.2 Market Segmentation By Type(Foam, Balsa, Honeycomb)
9.3 Market Segmentation By Application(Aerospace, Wind Energy, Marine, Construction, Transportation, Others)
9.4 Europe Core Material Market: Country Analysis
9.5 Competitive Scenario of Europe Core Material: By Country, By Value
10. Asia Pacific Core Material Market: An Analysis (2020-2025)
10.1 Asia Pacific Core Material Market: Size and Forecast (2020-2025), By Value
10.2 Market Segmentation By Type(Foam, Balsa, Honeycomb)
10.3 Market Segmentation By Application(Aerospace, Wind Energy, Marine, Construction, Transportation, Others)
10.4 Asia Pacific Core Material Market: Country Analysis
10.5 Competitive Scenario of Asia Pacific Core Material: By Country, By Value
11. Global Core Material Market Dynamics
11.1 Global Core Material Market Drivers
11.2 Global Core Material Market Restraints
11.3 Global Core Material Market Trends
12. Market Attractiveness and Strategic Analysis
12.1.1 Market Attractiveness Chart of Global Core Material Market - By Type, By Value
12.1.2 Market Attractiveness Chart of Global Core Material Market - By Region, By Value
12.2 Strategic Analysis
12.2.1 Key Developments in Core Material Market
12.2.2 Mergers and Acquisitions
13. Competitive Landscape
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