Core Materials Market CAGR is Catching Up the Momentum – Forecast Analysis 2019
Posted by Pradnya on January 27th, 2020
Core Materials Market: Introduction
Core Materials are materials with composite skins which create a sandwich structure based laminate with properties such as high stiffness and low weight. Core materials are available and produced in a number of forms which include, end-grain balsa wood, poly-vinyl chloride foam, urethane foam, non-woven core fabrics, and a wide variety of honeycomb materials. The structure of core materials is similar to that of a sandwich wherein the material is bonded between two composite skins. The addition of a core in a laminate leads to an increase in the section modulus and provides stiffness to the core material which can be used to create lightweight structures. Core materials find application in the production of strong stiff, and lightweight structures for high performance products.
Core materials primarily find application in the aerospace and wind energy equipment in order to improve the strength of components and parts involved in these equipment. Inherently core materials are low strength materials, but, their greater thickness offers the sandwich component a high bending stiffness with low density. Notable applications of core materials include automotive, defense, aerospace, marine, and wind energy.
Honeycomb core materials are available with varying properties which range from low stiffness and low strength to high stiffness and high strength. These honeycomb core materials are used in domestic internal doors as well as in aircrafts.
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Core Materials Market: Market Dynamics
The major driver for the growth of the core materials market happens to be the aerospace and defense industry. Rising air traffic owing to the increasing presence of low cost carriers across the globe mandates the requirement to increase fleet sizes of existing airline operators in addition to fulfilling requirement of newer carriers entering the aerospace industry. In addition, the demand for generation of clean power from renewable sources such as wind energy is also helping the growth of the core materials market. Further, core materials also find application in aircraft flooring, unmanned aerial vehicles as well as several structural applications.
One of the key and critical factors which is restraining the growth of the core materials market is the lack of economical manufacturing processes for manufacturing core materials in huge quantities. In addition, the capital intensive nature of the business is also likely to deter players from entering the market and thereby hinder the growth of the market.
Core Materials Market: Market Segmentation
The global Core Materials Market can be segmented on the basis of type, and end use industry.
On the basis of type, the global core materials market is segmented into:
On the basis of end use industry, the global core materials market is segmented into:
Core Materials Market: Regional Outlook
On the regional front, North America is the most dominant market for core materials. Aerospace industry, being the major user of core materials, helps in the growth of core materials market in the region as the United States has one of the largest aerospace industries in the world. In addition, the country also exports aerospace components to several countries across the globe and primarily to European nations such as France and Germany. Asia Pacific is also expected to contribute significantly to the market for core materials owing to the booming construction industry in the region. Europe, MEA, and Latin America are expected to showcase insignificant growth over the forecast period due to the limited presence of end use industries for core materials.
Core Materials: Key Market Participants
Some of the key market participants in the global core materials market are:
About the AuthorPradnya
Joined: February 3rd, 2017
Articles Posted: 1,348
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