To know the impact of COVID-19 On Structural Core Materials Market By Type (Foam, Honeycomb, Balsa), By Material Type(CFRP (Carbon Fiber Reinforced Polymer), GFRP (Glass Fiber Reinforced Polymer), NFRP (Natural Fiber Reinforced Polymer)),By End-Users Type(Aerospace, Wind Energy, Automotive, Marine), Industry Analysis, Trends, And Forecast, 2021-2027
Market Size Forecast Scenarios (Optimistic, Baseline and Pessimistic) 2021-2027
Global Structural Core Materials Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027- Increasing adoption of core materials in the marine industry, growing need for composites in aerospace industry, rising demand for longer and lightweight wind turbine blades, rising offshore wind power infrastructure and technology advancement in automobile industry are anticipated to drive the growth of Global Structural Core Materials Market.
Global Structural Core Materials Market is valued at USD 2377.6 Million in 2020 and expected to reach USD 3632.2 Million by 2027 with a CAGR of 6.24% over the forecast period.
Scope of Global Structural Core Materials Market Report:
Core materials are considered as the extraordinary class of composite materials, regularly having low strength, however higher thickness provides the sandwich composite with high twisting solidness with generally low-density boosting request in different enterprises. The key development variables of the worldwide center materials market are the huge expansion popular for composites from the marine business and the rising utilization of composites in the aerospace, automotive, wind energy, marine, construction, and other industries. The utilization of the appropriate core material can likewise improve thermal conductivity, sound protection, and imperviousness to fire. Utilizing moderately thin, strong face sheets bonded to thicker, lightweight core materials has permitted the business to make solid, unbending, lightweight, and incredibly tough designs.
During Covid-19 pandemic, the government has imposed the restriction on transportation has led to significant drop in core materials market. COVID-19 has negatively impacted the core materials market as reducing production of the core materials and the disturbance in the supply network, longer vacation, lockdown situation, and temporary suspension of wind energy projects which would hamper the production.
Global Structural Core Materials Market is segmented on the basis of type, application, end-user and region & country level. Based upon type, structural core materials market is classified into foam, honeycomb and balsa. Based upon material, the market is divided into CFRP (Carbon Fiber Reinforced Polymer), GFRP (Glass Fiber Reinforced Polymer), NFRP (Natural Fiber Reinforced Polymer) and others. Based on end-user, the global structural core materials market is classified into aerospace, wind energy, automotive, marine and others.
Global Structural Core Materials Market Segmentation:
By Material Type:
- CFRP (Carbon Fiber Reinforced Polymer)
- GFRP (Glass Fiber Reinforced Polymer)
- NFRP (Natural Fiber Reinforced Polymer)
By End-Users Type:
- Wind Energy
The regions covered in this global structural core materials report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of structural core materials is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Key Players for Structural Core Materials Market Report:
Some major key players for global structural core materials market report cover prominent players like Diab Group, Evonik Industries, Gurit Holding, Schweiter Technologies, Hexcel Corporation, Armacell International, Changzhou Tiansheng New Materials Co. Ltd., The Gill Corporation, Euro-Composites, Plascore and others.
News: Composites One Acquired Process Materials Business from Solvay
March 2nd, 2021; Composites One finished its acquisition of the cycle materials business from the Solvay composites materials global Business. The obtained business has been rebranded as Aerovac and is a significant manufacturer, designer and provider of interaction materials, tooling and benefits utilized in prepreg handling, vacuum implantation, glass overlay, and other mechanical applications. The securing is an extraordinary chance for the organization to add worldwide manufacturing and deals capacities in specific materials utilized in an assortment of vacuum-helped composite assembling measures. The business has areas in Santa Fe Springs, California; Sumner, Washington; Keighley, UK; Mondovi, Italy and Toulouse, France with a UK-based appropriation business, Med-Lab, which exchanges airplane motor update consumables and fuel testing instruments.
The Growing Need for Structural Core Materials in Aerospace, automotive, wind energy, marine, construction, and other industries Drive the Market Growth
The major factors driving the growth of global structural core materials market are increasing demand for composites in aerospace industry. Core materials are normally utilized in the composites business to deliver inflexible, yet lightweight, composites items. The utilization of composite materials is a certainly significant development in the avionic business, as these permit designers to conquer the boundaries made by utilizing metals. Composite materials have been instrumental in weight decrease. They are utilized for every underlying application and parts of both rocket and airplane, from lightweight planes and tourist balloon gondolas to fighter aircraft, space transport, and traveler carriers. Expanding the advancement of composite materials with light-weight and high-temperature obstruction will help in planning elite, economical airplane. In addition, these materials are recognized by their most elevated protection from effect and pressure, high inflexibility rates, low weight, basic formability, and maintainability. Core materials give ultra-performing composites to basically all marine parts, for example, body bottoms, sides and walls, superstructures, bulkheads, and stringers to transom, floors and insides. Inferable from the reliable thickness, high humidity resistance, and great actual properties PVC froths are normally utilized center materials in the marine business.
Furthermore, the offshore wind energy market is assessed to observe significant development owing to the developing interest for clean energy and rising spotlight on reduction in carbon emission. Offshore wind energy generation process is renewable from delivering energy by exploiting the force of the wind that is created on the high oceans, where it moves at a lot higher and more reliable speed than it does ashore, because of absence of various barriers.
However, structural core materials have high maintenance cost and more corrosion, thus higher initial cost may hamper the market growth. In spite of that, structural core materials are reliable, lesser construction time, high strength and light weight nature and supportive government policies can offer more opportunities for the further growth of the structural core materials market.
Asia Pacific is Expected to Witness the Fastest Growth in the Global Structural Core Materials Market:
Asia Pacific projected to expected to show a fastest growth in the global structural core materials market due to increasing number of development projects in the field of wind energy and railway. China holds a larger portion of the worldwide wind turbine market, and GWEC estimates that it will grow coastal wind energy by addition of 118 GW of new turbine limit by 2025. This is probably going to create substantial interest for composite materials which build up underlying center materials industry patterns.
The growth in North America structural core materials market is attributable to appeal for honeycomb center materials from the aerospace and wind energy end-use businesses. In U.S., for underlying center materials in the previous five years was more amazing and steady as compared to the other significant regions. Set up players, like Hexcel Corporation (US) and The Gill Corporation (US) are speeding up their endeavors to build the creation of honeycomb and froth center materials to satisfy the expanding need from airplane and wind blade manufacturers.
Key Benefits for Global Structural Core Materials Market Report–
- Global Structural Core Materials Market report covers in-depth historical and forecast analysis.
- Global Structural Core Materials Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country Level.
- Global Structural Core Materials Market report helps to identify opportunities in marketplace.
- Global Structural Core Materials Market report covers extensive analysis of emerging trends and competitive landscape.
Structural Core Materials Market By Regional & Country Level:
- Rest of Europe
- South Korea
- Rest Of APAC
- Rest of South America
Middle East and Africa
- Saudi Arabia
- South Africa
- Rest Of MEA
Frequently Asked Questions (FAQ) :
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Structural Core Materials Market Size, Share, Growth And Forecast By 2027
Structural Core Materials Market By Type (Foam, Honeycomb, Balsa), By Material Type(CFRP (Carbon Fiber Reinforced Polymer), GFRP (Glass Fiber Reinforced Polymer), NFRP (Natural Fiber Reinforced Polymer)),By End-Users Type(Aerospace, Wind Energy, Automotive, Marine), Industry Analysis, Trends, And Forecast, 2021-2027
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