SAN FRANCISCO, February 20, 2018 /PRNewswire/ --
The global structural core materials market size is expected to reach USD 2.80 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 5.9% during the forecast period. As the wind energy sector continues to flourish, structural core materials are anticipated to rake in a healthy share in the revenue pie. Rising consumer disposable income of people in countries such as U.S., India, and China is leading to expansion of the aerospace and automotive industries, thereby boosting the need for structural core materials for parts and components manufacturing.
In terms of revenue, aerospace was the largest end-use segment, accounting for about 38.0% of the global market in 2016. In the field of aircraft and helicopter engineering, sandwich structures are the preferred choice for lightweight yet high-strength designs. High temperature resistance of cores has further facilitated the demand for these products.
Booming aerospace and construction industries worldwide are unfolding several growth opportunities for the structural core materials market. However, prices of raw materials used for manufacturing could play a crucial role in overall production cost in the future.
DIAB International AB, a major player in the market, tripled its production capacity of advanced foam cores to meet increasing demand from the aerospace industry worldwide. A few companies acquired and merged with each other to enhance their product offerings and expand their global reach. For instance, Gurit Holding AG acquired BASF's PET structural foam business with the intention of strengthening Gurit's range of structural core material products. Such strategic initiatives reflect the intensifying competition in the structural core materials market.
Browse full research report with TOC on "Structural Core Materials Market Size, Share & Trends Analysis Report By Product (Foam, Balsa, Honeycomb), By Skin Type, By End Use (Aerospace, Automotive, Wind Energy, Marine, Construction), And Segment Forecasts, 2014 - 2025" at: https://www.grandviewresearch.com/industry-analysis/structural-core-materials-market
Further Key Findings From the Report Suggest:
- The wind energy end-use segment is slated to experience the fastest growth in terms of revenue, progressing at a CAGR of 8.4% from 2017 to 2025. The growth of the segment can be attributed to increasing number of wind farms in emerging economies
- Carbon FRP emerged as the largest skin type segment in terms of revenue in 2016 and is projected to value more than USD 1.15 billion by 2025. The segment is poised to experience steady growth over the forecast period owing to superior properties offered by carbon fiber-based materials in lightweight and high-strength construction
- The Asia Pacific region is likely to register the highest CAGR over the forecast years owing to rapid growth of the aerospace, automotive, and wind energy industries in the region, most notably in India and China. In terms of revenue, the regional market is expected to post a CAGR of 7.6% from 2017 to 2025
- Players such as Rockwell Collins, Inc.; DIAB International AB; Evonik Industries; Gurit Holding AG; Schweiter Technologies; Hexcel Corporation; and The Gill Corporation dominated the global structure core materials market.
Browse related reports by Grand View Research:
- Steel Processing Market - Carbon steel type accounts for the largest market share of steel processing market and remains the same during the forecast period from 2014 to 2025.
- Vinyl Flooring Market - Vinyl flooring is a new type of resilient flooring in the market. Resilient flooring is simply artificial composite floors such as rubber, plastic, PVC, linoleum and the latest addition, Vinyl.
- Luxury Furniture Market - The Global luxury furniture market was valued at USD 21,389.5 million in 2014 and is expected to reach USD 28,600.7 million in 2022, growing at a CAGR of 3.7% over the forecast period.
- Metal Matrix Composite Market - The global metal matrix composite market was 5,824.5 tons in 2013. Growing transportation industry on account of increasing global and domestic trade is expected to fuel the MMC market over the forecast period.
Grand View Research has segmented the global structural core materials market on the basis of product, skin type, end use, and region:
- Structural Core Materials Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- Structural Core Materials Skin Type Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- Structural Core Materials End Use Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- Wind energy
- Structural Core Materials Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
- Saudi Arabia
- North America
Read Our Blog By Grand View Research: https://www.grandviewresearch.com/blogs/healthcare
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Corporate Sales Specialist, USA
Grand View Research, Inc
Toll Free: 1-888-202-9519
SOURCE Grand View Research, Inc.