Global Core Material Market Research Report Forecast 2025Posted by vidhyanigam98 on November 16th, 2020 Bharat Book Bureau Provides the Treding Market Research Report on "Global Core Material Market - Analysis By Type (Foam, Balsa, Honeycomb), Application, By Region, By Country (2020 Edition): Market Insights, Covid-19 Impact, Competition and Forecast (2020-2025)" under Chemical & Materials Category. The report offers a collection of superior market researach, market analysis, competitive intelligence and Market reports.
Executive Summary
The Global Core Material Market was valued at USD 1548.82 Million in the year 2019. The growth in Core Material Market is mainly driven by growing urbanization and rapid industrialization, especially in emerging economies such as India and China, which has led to significant investment in the construction of buildings.
Core materials offer high stiffness and low-density material in sandwich composite construction. The weight reduction of the required structure with high strength makes the use of core materials vital in the wind energy end-use industry. The size of wind blades is increasing, which will drive the use of core materials in the wind blades segment.
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Technological innovations have led to the discovery of new methods of manufacturing honeycombs. These methods include heated press method and vacuum bag processing. Players in the market use a cost-advantage approach for their products. Companies such as SABIC; Evonik Industries; Gurit Holdings, Inc.and Hexcel Corporation have enough capital to invest in research and development, thus giving them an opportunity to improve the quality of their products.
The global core materials market is increasing due to their rising demand from composite component manufacturers. The market growth is attributed to the growing demand for lightweight and high-performance materials in various end-use industries. Also, it is predicted that USD 13 trillion will be invested in new power generation assets up until 2050, with 77% of that allocated to renewable energy, with an average of 125 GW of installed wind capacity added each year. The wind industry basically uses three core materials: PET, balsa and PVC.
North America is the leading region in Core Material market. With the rapid advancement in the technology and growth in the construction industry, the region has seen rapid development and expansion of cities and infrastructure, which is impelling the growth of core materials market in the region.
Scope of the Report
• The report analyses the Core Material by Type (Foam, Balsa, Honeycomb)
Key Target Audience
• Core Material Vendors
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