USD 1778.36 million
Structural Core Materials Market Size, Share, Growth Analysis, By Product(Foam, Balsa, Honeycomb), By End-Use(Aerospace, Automotive, Wind Energy, Marine), By Skin Type(GFRP, CFRP, NFRP, others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15J2061 |
Region:
Global |
Published Date: July, 2001
Pages:
157
|Tables:
94
|Figures:
76
Structural Core Materials Market Insights
Structural Core Materials Market size was valued at USD 1778.36 million in 2019 and is poised to grow from USD 1937.5 million in 2023 to USD 3700.2 million by 2031, growing at a CAGR of 8.8% in the forecast period (2024-2031).
Continuously growing prevalence of wind energy industry and an extensive growth in consumer disposable income especially in developing economies such as China, India, and Indonesia are the key factors propelling the growth of the global structural core materials market during the forecast period. Moreover, some major players of the market are focusing on enhancing product quality and engaging research & development investments in structural core materials market for improving their market reach and application scope to be ahead in the market competition.
Furthermore, technological advancements and rising innovations such as heated press method and vacuum bag processing have led to the growing discovery of creative manufacturing process for honeycombs. High use and storage of various types of core material products like aluminum honeycomb, Nomex honeycomb, carbon fiber, and balsa wood, is likely to have a positive impact on the growth of the global structural core materials market over the forecast period.
US Structural Core Materials Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Fastest Growth
foam
Growth Rate
8.8% CAGR
Global Structural Core Materials Market($ Bn)
Country Share for North America (%)
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Structural Core Materials Market Segmental Analysis
Structural Core Materials Market is segmented on the basis of product, end-use, skin type, and region. By product, the Structural Core Materials Market is sub-segmented into foam, balsa, and honeycomb. By end-use, the Structural Core Materials Market is categorized into aerospace, automotive, wind energy, marine, construction, and others. By skin type, the Structural Core Materials Market is classified into GFRP, CFRP, NFRP, and others. By region, the Structural Core Materials Market is divided into North America, Europe, Asia Pacific, Latin America, and MEA.
Structural Core Materials Market Analysis by Product
By product, the honeycomb segment accounted for the largest market share in 2021 and it is expected to maintain its dominance throughout the forecast period. Properties such as specific strength, high stiffness, and rising usage in most adhesives are the major factors anticipated to drive the growth of the segment. Honeycomb products are thermally insulating, fire-resistant, corrosion resistant, and have excellent dielectric properties, which has led to high adoption of these products in several end-use industries around the globe. In addition, major manufacturers of these products including Evonik Industries, Gurit Holding AG, and Hexcel Corporation have entered into agreements and contracts with several aircraft manufacturers to supply panels for specific business requirements.
Structural Core Materials Market Analysis by End-Use
By end-use, the aerospace segment held the largest market in 2021, with a holding of significant revenue share. Continuously growing air travel between major global business hubs in the last few years, is the key factor driving the growth of the segment market. Moreover, high technological advancements and increased research & development activities mainly in developed countries such as the United States, France, Germany, and Japan, are also expected to be the major drivers for the growth of the market in the segment over the coming years.
Furthermore, the wind energy segment is projected to grow at fastest CAGR during the forecast period owing to increasing usage of these structural core materials in blades for light-weighting and facilitate the process. The adoption of light-weight cores helps blade manufacturers to enhance their product quality levels and reduced cycle times along with the help of optimized infusion process. All these factors are likely to propel the growth and demand for core materials in wind-energy segment in the coming years.
Global Structural Core Materials Market BY Product
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Structural Core Materials Market Regional Insights
Globally, North America dominated the structural core materials market with a holding of healthy market share in 2021 and is set to continue this dominance over the forecast period. High growth in construction sector, wing energy, and automotive industries especially in countries like the United States and Canada is projected to be the major factors driving the growth of the market in the region. Additionally, large presence of key market players including Hexcel Corporation and The Gill Corporation is also contributing significantly to the growth of the market over the coming years.
Furthermore, Asia Pacific region is expected to witness fastest CAGR over the forecast period owing to high growth of commercial and residential construction sector coupled with the wide availability of raw materials in the region. Moreover, an extensive growth in consumer disposable income and their rising spending capacity on several applications such as automotive, wind energy, and construction mainly in China and India, is further anticipated to boost the demand and growth in the near future.
Global Structural Core Materials MarketBy Region
- Largest
- Fastest
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Structural Core Materials Market Dynamics
Structural Core Materials Market Drivers
- Rising Adoption of Structural Core Material across Various Industries
Rising demand for these materials in several types on end-use applications including packaging, construction, marine, and electronics due to the features like corrosion resistance, high thermal stability, and good dielectric properties are the major factors projected to boost the growth of the global structural core materials market during the forecast period. Additionally, a tremendous rise in the need for clean energy across the globe to reduce the pollution levels across the globe is expected to have positive impact on the market.
Structural Core Materials Market Restraint
- High Operating Cost to Hamper Market Growth
- High capital requirement and operating cost coupled with the stringent government regulations regarding carbon emissions are major factors that are expected to restrain the growth of the global structural core materials market throughout the forecast period.
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Structural Core Materials Market Competitive Landscape
The global structural core materials market is fairly fragmented with the presence of many established international and regional companies operating around the globe. The key companies of the market are focusing on implementation of several business developing strategies such as strategic alliances, partnerships, collaborations, technology development, and new product launches to cater the rising consumer demand and strengthen their market position ahead of their competitors.
Structural Core Materials Market Top Player’s Company Profiles
- DIAB International AB (Sweden)
- Armacell International (Luxembourg)
- 3A Composites GmbH (Switzerland)
- Gurit (Switzerland)
- Hexcel Corporation (US)
- Evonik Industries AG (Germany)
- The Gill Corporation (US)
- Changzhou Tiansheng New Materials Co. Ltd. (China)
- Plascore Incorporated (US)
- Euro-Composites S.A. (Luxembourg)
- Schweiter Technologies (Switzerland)
- Henkel AG & Co. KGaA (Germany)
- Carbon-Core Corp. (US)
- CoreLite Inc. (US)
- Polycarbon Industries (Israel)
- Janicki Industries (US)
- Owens Corning (US)
- SABIC (Saudi Arabia)
- TenCate Advanced Composites (Netherlands)
- Solvay (Belgium)
Structural Core Materials Market Recent Developments
- In August 2022, Collins Aerospace, announced the launch of its new facility at the Houston Spaceport, Texas with an area of 120,000 square foot. Collin’s invested around USD 30 million, to inaugurate this facility to support their future space exploration.
- In October 2022, Hexcel Corporation announced that, they have received Type approval for its new HexPly® M9.6GF prepreg products from the Bureau Veritas, a global leader in testing, certification, and inspection services. The new products is highly suitable for use in the manufacturing of mass and other large structural components.
Structural Core Materials Key Market Trends
- Rising Popularity among Automobile Manufacturers
In the last few years, structural core materials have gained significant popularity among automobile manufacturers for using in air bags of cars, which is propelling the global market at a significant pace. In addition, rising prevalence of safety jackets, communication antennae, and electronic circuit boards are expected to create lucrative growth opportunities for the structural core materials market over the coming years.
Structural Core Materials Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the global structural core materials market is expecting a strong growth during the forecast period owing to high consume disposable income, increased industrialization in countries like India and China, and rising awareness among several end-use industries towards the benefits of these materials. Moreover, various attractive properties of these materials like fire resistance, thermal conductivity, and sound insulation are projected to fuel the demand and adoption over the coming years. However, requirement of high initial investment for setting up manufacturing unit and facilities is likely to hamper the market growth in the near future.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 1778.36 million |
| Market size value in 2031 | USD 3700.2 million |
| Growth Rate | 8.8% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Structural Core Materials Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Structural Core Materials Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Structural Core Materials Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Structural Core Materials Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Structural Core Materials Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Structural Core Materials Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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