Market Research Report
Structural Core Materials - Global Market Outlook (2017-2026)
|Published by||Stratistics Market Research Consulting||Product code||652743|
|Published||Content info||136 Pages
Delivery time: 2-3 business days
|Structural Core Materials - Global Market Outlook (2017-2026)|
|Published: May 1, 2018||Content info: 136 Pages||
According to Stratistics MRC, the Global Structural Core Materials market is expected to grow from $1.39billion in 2017 to reach $3.40 billion by 2026 with a CAGR of 10.4%. Factors such as growing demand from wind energy industry, rising consumer disposable income of people and increasing usage of composites in the aerospace industries are some of the key factors fuelling the market growth. However, huge capital investments and uncertainty in the renewal of production tax credit (PTC) are some factors hindering the growth of the market.
Structural core materials are incorporated into complex materials, which are used on a large scale in construction, automotive, civil infrastructure, aircraft, military, and corrosion-resistant equipment industries. Structural core materials are used in automobile industries for designing air bags in cars. They are also employed in safety gears such as bulletproof jackets. Furthermore, structural core materials are used in communication antennae, and electronic circuit boards.
Based on Outer Skin Type, Glass fibers reinforced polymer composites has a significant growth in the market. GFRP is extensively used in wind turbine blades as it reduces the overall weight, thereby increasing its efficiency. GFRP is mainly used in combination with balsa and PVC foam. GFRP panels provide a strong scratch resistant surface, chemical resistance, durability, and are lightweight. It is preferred over other building materials as it saves maintenance cost and is cheaper than other outer skins.
Based on geography, North America has significant growth in the market due to high requirement for honeycomb core materials from the wind energy and aerospace industries. Moreover, Asia Pacific is expected to be the fastest growing market during the forecast period owing to increasing commercial and residential activities, easy availability of raw materials, low labor cost, growing manufacturing industries and new plant establishments by various leading players in this region.
Some of the key players in Structural Core Materials the market include BASF, Evonik Industries, Hexcel Corporation, Diab Group, Schweiter Technologies, Euro-Composites, The Gill Corporation, Plascore, Euro-Composites, Changzhou Tiansheng New Materials Co. Ltd., Armacell International, Gurit Holding, Corelite, ACP Composites and Honeylite.