Structural Core Materials Market Is Forecasted To Reach US$ 1.2 Billion In 2030, Says Stratview Research

Stratview Research, a global market research firm has launched a report on the global Structural Core Materials Market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights

Segment Insights on the Structural Core Materials Market:

The global structural core materials market is segmented based on core material type, end-use industry type, and region.

Based on Core Material Type - The market is segmented into PVC, PET, SAN, PMI, Balsa, and Others. Among these core material types, PET foam core is likely to remain dominant in the market over the next six years , mainly driven by the exceptional growth in wind energy.

PET core is also anticipated to witness the fastest growth in the foreseen future , driven by an incessant replacement of PVC foam and SAN to PET foam core, especially in wind energy and transportation industries. All the leading players, such as Diab and Gurit, are setting up new PET lines to tap the growing market potential.

Based on the End-Use Industry Type – The market is segmented into wind energy, marine, ground transportation, aerospace & defense, and others. Wind energy is expected to remain the biggest demand generator of core materials over the next six years . The Global Wind Energy Council (GWEC) anticipates that about 791 GW of new wind energy capacity will be added from 2024 to 2028, which is equivalent to more than 158 GW of wind energy added each year till 2028. The demand for longer wind blades is adding a further stir to the demand for structural core materials.

Aerospace & Defense, a relatively smaller segment compared to wind energy and marine, is likely to experience the fastest growth in the post-pandemic market developments. An expected recovery in the production rates of key commercial aircraft programs coupled with an incessant increase in the penetration of composite materials is likely to create a huge demand for core materials in the coming years.

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Asia-Pacific is expected to remain the largest market for structural core materials during the forecast period. This growth outlook is majorly attributed to the following:

• China is estimated to remain the largest market in the region as well as in the world, driven by rising wind turbine installations, increasing demand for recreational fiberglass boats, the opening of assembly plants of Boeing and Airbus, and increasing demand for high-speed trains.

Likewise, Europe is expected to remain the second-largest market during the forecast period. The region is also expected to grow at the fastest pace in the market during the same period, due to an increasing focus of the EU on offshore wind turbine installations as well as healthy growth in the aerospace & defense industry.

Structural Core Materials Market Drivers:

Some of the key drivers listed in the report are given below.

• Rising wind turbine installations.
• Increasing demand for recreational fiberglass boats.
• Increasing demand for high-speed trains.

Top Companies in the Structural Core Materials Market:

Stratview Research has identified the following companies as the top market players (arranged alphabetically).

• 3A Composites GmbH (Schweiter Technologies AG)
• Armacell International S.A.
• Changzhou Tiansheng New Materials Co. Ltd. (China)
• Diab International AB
• Evonik Industries AG
• Gurit Holdings AG
• Maricell S.r.l.

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Related Reports:

• Marine Structural Core Materials Market

• High-Performance Core Materials Market

About us:

Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

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