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Structural Core Materials Market Analysis

ID: MRFR//4752-HCR | 100 Pages | Author: Anshula Mandaokar| July 2024

The market dynamics of structural core materials are influenced by a myriad of factors that shape their supply, demand, pricing, and overall industry trends. One of the key dynamics is the continual push for lightweight materials across multiple industries. As industries strive for greater efficiency and performance, the demand for lightweight yet robust materials intensifies. This trend fuels the development and adoption of structural core materials that offer high strength-to-weight ratios, driving innovation in manufacturing processes and material composition to meet these requirements.

Moreover, environmental considerations play a significant role in shaping market dynamics. With increasing concerns about sustainability, there's a growing preference for eco-friendly structural core materials. Companies are increasingly investing in materials that are recyclable, have a lower environmental impact, and align with stringent regulatory standards. This shift towards sustainability is reshaping the market landscape, influencing both production methods and consumer preferences.

Furthermore, the global economic environment significantly impacts the market dynamics of structural core materials. Factors such as raw material costs, economic stability, currency fluctuations, and trade policies affect production costs and, subsequently, the pricing of these materials. Volatility in raw material prices or disruptions in the supply chain can directly impact the availability and cost of structural core materials, influencing market dynamics.

Technological advancements represent a driving force in the market dynamics of structural core materials. Ongoing innovations in manufacturing techniques, composite materials, and nanotechnology contribute to the development of more efficient, durable, and cost-effective structural core materials. These advancements not only enhance the performance characteristics of these materials but also drive down production costs, influencing market competitiveness and adoption.

The end-user industries themselves significantly influence the demand and trends in structural core materials. For instance, in the aerospace industry, there is a continual pursuit of materials that meet stringent safety standards while reducing overall weight to enhance fuel efficiency. In the marine sector, the emphasis is on materials that can withstand harsh environmental conditions, such as corrosion resistance in saltwater. The specific requirements of each industry drive the development and customization of structural core materials, leading to a diverse range of offerings tailored to different applications.

Market dynamics are also influenced by consumer preferences and industry trends. Consumers increasingly seek products that not only perform well but also align with their values, such as sustainability and durability. This shift in consumer preferences impacts the choices made by manufacturers and influences the development of structural core materials that meet these evolving demands.

Additionally, regulatory frameworks and standards play a critical role in shaping market dynamics. Stringent regulations governing safety, environmental impact, and performance standards drive the adoption of specific types of structural core materials. Companies must comply with these regulations, which often leads to the development of innovative materials that meet or exceed these standards.

Covered Aspects:

Report Attribute/Metric Details

Global Structural Core Materials Market Overview 

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. Structural core materials are used in composites which improves their physical properties. The most commonly used structural core materials are honeycomb,  foam, and balsa. Also, Balsa has high aspect ratio. And extensively used in boat hulls, military aircraft, navy vessels, and industrial tanks. Honeycomb materials include aluminum, polypropylene, paper, and impregnated fiberglass. Honeycomb is used in applications where highly lightweight panels are required.  Market growth has been driven by increasing product demand from the automobile and aerospace sectors. Moreover, with increasing international trade, there has been substantial growth recently. And it is projected to positively impact the global structural core materials market. The increasing demand for lightweight materials in automobiles, aircraft, and marine vessels owing to their high fuel efficiency is expected to be a significant factor driving market growth. Moreover, the increasing use of structural core materials is becoming crucial in transportation, wind energy, aerospace, construction, marine, and other industries. Furthermore, major market manufacturers are signing supply agreements with various end-use industries to secure their position in the structural core materials market.

Key Players

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 (%)

 Structural Core Materials Market Share

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.  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

  • Structural core materials manufacturers

  • Traders and distributors of structural core materials

  • Research and development institutes

  • Potential investors

  • Raw material suppliers

  • Nationalized laboratories

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