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

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.