Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
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.
Structural core materials play a crucial role in various industries, including aerospace, marine, automotive, and construction. The market factors influencing these materials are multifaceted and encompass a range of considerations. One of the primary determinants is the growing demand for lightweight materials across industries. As industries aim for enhanced fuel efficiency, increased payload capacities, and improved performance, the need for lighter yet sturdy materials becomes paramount. This demand directly impacts the market for structural core materials, propelling research and development efforts to create innovative, lightweight solutions that maintain structural integrity.
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.
Moreover, environmental concerns and regulations significantly influence the market dynamics of structural core materials. With an increasing focus on sustainability and reducing carbon footprints, industries are actively seeking eco-friendly alternatives. Materials that offer high strength-to-weight ratios while being recyclable and possessing a lower environmental impact are gaining traction in the market. Manufacturers are thus compelled to invest in sustainable production methods and materials to align with these evolving environmental standards.
Another pivotal market factor for structural core materials is technological advancements. Continuous innovations in manufacturing processes, such as advanced composite manufacturing techniques and nanotechnology, have led to the development of more efficient and durable materials. These advancements not only enhance the performance characteristics of structural core materials but also contribute to cost-effectiveness by streamlining production processes and reducing material waste.
The global economic landscape also significantly influences the market for structural core materials. Factors like economic stability, fluctuations in raw material prices, and global trade policies impact the cost of production and ultimately the pricing of these materials. For instance, changes in tariffs or trade agreements can affect the availability and cost of raw materials required for manufacturing structural cores, thereby impacting the overall market dynamics.
Furthermore, the end-user industries play a crucial role in shaping the demand for structural core materials. For example, the aerospace industry requires materials that meet stringent safety standards and possess exceptional strength-to-weight ratios to enhance aircraft performance. Similarly, the marine industry seeks materials that offer resistance to harsh environmental conditions like saltwater corrosion. Each industry's specific requirements drive the research and development of tailored structural core materials, leading to diverse market offerings to cater to varied industry needs.
Additionally, market factors related to consumer preferences and trends cannot be overlooked. Consumer preferences for products with better aesthetics, increased durability, and higher performance influence the choices made by manufacturers in selecting structural core materials. As consumer awareness regarding sustainability grows, there is a rising preference for products made from eco-friendly materials, further impacting the market trends for structural core materials.
Structural Core Materials Market Highlights:
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 (%)
 
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.
Segmentation
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
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
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.
