Booming Renewable Energy Sector set to propel the Balsa Wood Market Growth at a CAGR of 6% during 2021-2030

Pune, India, October 10, 2017 /MRFR Press Release/- Market Research Future published a Half Cooked Research Report on Global Balsa Wood Market

Market Research Future (MRFR) Announces the Publication of its Research Report – Global Balsa Wood Market 2016-2023.

Market Research Future (MRFR) recognizes the following companies as the key players in the Global Balsa Wood Market: 3A Composites (Switzerland) , Gurit (Spain), DIAB International AB (Sweden), The PNG Balsa Company Ltd (Papua New Guinea), The Gill Corporation (U.S.), CoreLite Inc (U.S.) and SINOKIKO BALSA TRADING CO., LTD (China) among others.

Market Highlights:

Global Balsa Wood Market was valued at USD 146.53 million in 2016 and is expected to grow at 5.89% CAGR to reach USD 217.23 Million by the end of 2030. The Balsa Wood Market is gaining traction across the globe, owing to the low density of wood, making balsa the lightest commercial timber available in the market. By type, ‘Grain B’ segment has accounted for a larger market share due to its combine property of ‘Grain A’ and ‘Grain C’ type of wood. ‘Grain C’ type on Balsa Market is estimated to grow at CAGR of 6%, during the forecast period as it is regarded as the most aesthetically pleasing.

Segment Analysis:

The Global Balsa Wood Market is segmented on the basis of type, application and region. On the basis of type, the market is segmented into ‘Grain A’, ‘Grain B’, and ‘Grain C’ balsa wood. Based on the application, the Global Balsa Wood Market is divided into aerospace & defense, renewable energy, marine, rail & road, industrial & construction among others.

Considering the increasing security concerns of the countries, the military & aerospace funding across the globe is also increasing and’ as a result, this segment is estimated to account for the largest market share which is slated to reach USD 77.76 million till 2023. Balsa Wood laminates provide effective ballistic protection in military & defense operations at a much lower weight than metallic armor materials. Additionally, balsa wood composite armor is used in the production of military vehicles, land-based shelters, ships and aircraft are some of the factors that drive the market for Balsa Wood in military & aerospace segment.

Also, the boom in wind energy segment across the world as a source of renewable energy is expected to drive the Balsa Wood Market. The renewable energy segment accounted for the second largest market share by application. The segment is anticipated to grow at highest CAGR during the forecast period.

Geographically, Asia Pacific dominated the Global Balsa Wood Market, accounting for more than 30% share, by value, of the Global Balsa Wood Market. The regional market trends substantiating the growth of Balsa Wood include the immense aerospace & defense funding as well as the flourishing wind energy market, which in turn is witnessing considerable demand for balsa wood market. Furthermore, the rapid urbanization in the region is considered to have a positive impact on the overall Balsa Wood Market in the region. The other emerging markets such as Latin America and Middle East & Africa seems to follow a similar market trend as Asia Pacific.

Read More about this Report Basla Wood Market

Leading companies partner with us for data-driven Insights
client_1 client_2 client_3 client_4 client_5 client_6 client_7 client_8 client_9 client_10
Kindly complete the form below to receive a free sample of this Report
Please fill in Business Email for Quick Response

We do not share your information with anyone. However, we may send you emails based on your report interest from time to time. You may contact us at any time to opt-out.

Report details
Companies Covered 15
Pages 106
Certified Global Research Member
Isomar fd.webp Wcrc 57.webp
Why Choose Market Research Future?
  • Vigorous research methodologies for specific market.
  • Knowledge partners across the globe
  • Large network of partner consultants.
  • Ever-increasing/ Escalating data base with quarterly monitoring of various markets
  • Trusted by fortune 500 companies/startups/ universities/organizations
  • Large database of 5000+ markets reports.
  • Effective and prompt pre- and post-sales support.
Tailored for You
  • Dedicated Research on any specifics segment or region.
  • Focused Research on specific players in the market.
  • Custom Report based only on your requirements.
  • Flexibility to add or subtract any chapter in the study.
  • Historic data from 2014 and forecasts outlook till 2040.
  • Flexibility of providing data/insights in formats (PDF, PPT, Excel).
  • Provide cross segmentation in applicable scenario/markets.