Structural Core Materials Industry: Future Demand
Posted by Nicky Arora on November 21st, 2019
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.
Further key findings from the report suggest:
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)
About Grand View Research:
Grand View Research is an India & 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. Grand View Research database is used by the world's renowned academic institutions and Fortune 500 companies to understand the global and regional business environment. Our database features thousands of statistics and in-depth analysis on 46 industries in 25 major countries worldwide.
Grand View Research, Inc.
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San Francisco, CA 94105
Toll Free: 1-888-202-9519
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About the AuthorNicky Arora
Joined: October 15th, 2019
Articles Posted: 389
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