As per MRFR Analysis, the global Structural Core Materials Market was valued at US$1.10 Billion in 2022 and is projected to reach US$2.12 Billion by 2030, growing at a CAGR of 5% from 2022 to 2030. Structural core materials, including honeycomb, foam, and balsa, enhance the physical properties of composites and are widely used in industries such as aerospace, automotive, and marine. The market is driven by the increasing demand for lightweight materials, particularly in the automobile and aerospace sectors, and the growth of international trade. The Asia-Pacific region is expected to be the fastest-growing market, fueled by rising automobile production and a booming construction industry, especially in India and China. North America remains the largest market, supported by developed aerospace and automotive industries.
Key trends influencing the Structural Core Materials Market include increasing demand from various industries and strategic partnerships among manufacturers.
Key players include Diab Group (Sweden), Hexcel Corporation (U.S.), Schweiter Technologies (Switzerland), Euro Composites (Luxembourg), Gurit Holding (Switzerland), The Gill Corporation (U.S.), Changzhou Tiansheng New Materials Co. Ltd. (China), Plascore Incorporated (U.S.), Armacell International (Luxembourg), and Evonik Industries (Germany).
Some of the key players in the global structural core materials market are Diab Group (Sweden), Hexcel Corporation (U.S.), Schweiter Technologies (Switzerland), Euro Composites (Luxembourg), Gurit Holding (Switzerland), The Gill Corporation (U.S.), Changzhou Tiansheng New Materials Co. Ltd. (China), Plascore Incorporated (U.S.), Armacell International (Luxembourg), and Evonik Industries (Germany).
Global Structural Core Materials Market Share, by Product (%)
 
Regional Analysis
The market in Asia-Pacific is expected to be the fastest-growing regional market. Increasing automobile production in the region is acting as a major driver for the growth of the market. Additionally, the growing construction industry, mainly in India and China, is also driving the demand for structural core materials. Â The increasing inclination toward green energy has led to the development of the wind energy industry, in turn, fueling the demand for structural core materials in the region. For instance, according to the Indian Ministry of New and Renewable Energy, the country is ranked fourth in the global wind power installed capacity and has a renewable energy target of 175 GW by the end of 2022.
North America was the largest market in 2017 and is expected to maintain its dominance during the review period. The presence of developed aerospace and automobile industries contributes substantially to the growth of the market mainly in the U.S. and Canada. Moreover, increasing government spending in the construction sector is positively affecting product demand. According to the United States Census Bureau, total construction spending in the U.S. was USD 1,191,812 in 2016 which increased to 1,246,000 by the end of 2017.
The global structural core materials market has been segmented by product, skin type, end-use industry, and region. On the basis of product, the market has been segregated into foam, balsa, and honeycomb. On the basis of skin type, the market has been segmented into glass fiber reinforced polymer (GFRP), carbon fiber reinforced polymer (CFRP), natural fiber reinforced polymer (NFRP), and others. On the basis of end-use industry, the market has been further segregated into aerospace, automotive, wind energy, marine, construction, and others. Based on region, the market has been segregated into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.Recent Development
One of the major manufacturers of structural core materials is Diab Group (Sweden). It stresses on excellence in consumer-centric product creation and focuses mainly on agreements, strategies, such as new product launches, partnerships, and expansions to grow. The company carries out continuous improvements in several business areas by maintaining its main focus. It helps in forming strategic moves to sustain its market position as a market leader. The structural core materials market is gaining importance though a few factors that are acting as bottlenecks in its growth. The capital-intensive nature of the industry and the requirements of uncertain wind energy industry in the US are some of the major hinderances for the growth of the structural core materials market in the global market.
Intended Audience
| Report Attribute/Metric | Details |
| Â Â Market Size | Â Â 2030: USD 2.12 billion |
|   CAGR |   5% (2022–2030) |
| Â Â Base Year | Â Â 2021 |
|   Forecast Period |   2022–2030 |
| Â Â Historical Data | Â Â 2020 |
| Â Â Forecast Units | US$2.12 Billion |
| Â Â Report Coverage | Â Â Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Â Â Segments Covered | Â Â Product, Skin Type and End-Use |
| Â Â Geographies Covered | Â Â North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Â Â Key Vendors | Â Â Diab Group (Sweden), Hexcel Corporation (U.S.), Schweiter Technologies (Switzerland), Euro Composites (Luxembourg), Gurit Holding (Switzerland), The Gill Corporation (U.S.), Changzhou Tiansheng New Materials Co. Ltd. (China), Plascore Incorporated (U.S.), Armacell International (Luxembourg), and Evonik Industries (Germany) |
| Â Â Key Market Opportunities | Â Â increasing product demand from the automobile and aerospace industries |
|   Key Market Drivers | · rising international trade, the marine sector has seen substantial growth in recent times · growing demand for lightweight materials in aircraft, automobiles, and marine vessels due to their high fuel efficiency |
Structural Core Materials Market Highlights:
Frequently Asked Questions (FAQ) :
The global structural core materials market is expected to expand at a CAGR above 5% from 2021-2030.
Massive demand from marine, automobile, and aerospace sectors is the primary driver of the global aerospace chemicals market.
The honeycomb segment can lead the global structural core materials market in the ‘product type’ segment.
Carbon fiber reinforced polymers can dominate in the ‘skin type’ segment in the global structural core materials market till 2027.
Plascore Incorporated, Changzhou Tiansheng New Materials Co. Ltd., The Gill Corporation, Euro Composites, Armacell International, Hexcel Corporation, Diab Group, Gurit Holding, Schweiter Technologies, and Evonik Industries are the key players of the global structural core materials market.
The global market for Structural Core Materials estimated at US$1.10 Billion in the year 2021, is projected to reach a revised size of US$2.12 Billion by 2030, growing at a CAGR of 5% over the analysis period 2021-2030.
$2.12 Billion
5%
North America
2021-2030
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Team Lead - Research Anshula mandaokar holds an academic degree in chemical engineering and has been contributing to the field for more than 5 years. she has expertise in market research and business consulting and serves as a team lead for a reputed market research firm under the chemicals and materials domain spectrum. she has worked on multiple projects, generating explicit results in a quick turnaround time. her understanding of data interpretation justifies her role as a leader.
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