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Market Research Report
Product code
975864
Core Materials - Global Market Outlook (2019 -2027) |
Core Materials - Global Market Outlook (2019 -2027) |
Published: November 1, 2020
Stratistics Market Research Consulting
Content info: 150+ Pages
Delivery time: 2-3 business days
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According to Stratistics MRC, the Global Core Materials Market is accounted for $1.07 billion in 2019 and is expected to reach $3.40 billion by 2027 growing at a CAGR of 15.5% during the forecast period. Increasing use of composites in the aerospace industry and increasing demand from the wind energy are the major factors propelling the market growth. However, impact of COVID-19 on various end-use industries is hampering the market growth.
Core materials are the materials used in aerospace and wind energy equipment to enhance the strength of the materials. Core materials are normally low strength materials; however, its greater thickness offers the sandwich composite a high bending stiffness with low density. Core materials are used in a wide range of industries including marine, wind energy, and automotive.
Based on the end user, the aerospace & defense segment is estimated to have a lucrative growth due to the high demand for lightweight materials in the aerospace sector. Core materials played a major role in weight reduction in both, structural applications and components in aircraft.
By geography, Asia Pacific is likely to have a huge demand owing to the improved wind energy installation and increased transportation sector in the China. Moreover, the growing economies of China and India, and the presence of prominent players is expected to drive the market growth.
Some of the key players profiled in the Core Materials Market include: Armacell International S.A., Changzhou Tiansheng New Materials Co. Ltd, DIAB Group, Euro-Composites S.A., Evonik Industries, Gurit Holdings, Hexcel Corporation, Plascore Inc., The Gill Corporation, 3A Composites, Engineered Syntactic Systems, Schweiter Technologies, and SAERTEX.
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