Core Materials for Composites Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 8.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Core Materials for Composites Market Analysis
The global core material for composites market is expected to witness a CAGR of over 8% during the forecast period. Increasing usage of composites in the aerospace industry and growing usage in wind energy domain are likely to be the driving factors for the market studied.
- Factors, such as lack of economical manufacturing processes for bulk-volume applications and the market being highly capital intensive, are likely to hinder the growth of the market.
- The emergence of PET foam and innovations aimed at lowering the costs of end products are likely to provideopportunities for the market to grow through the years to come.
Core Materials for Composites Market Trends
This section covers the major market trends shaping the Core Materials For Composites Market according to our research experts:
Growing Usage in Aerospace and Defense Sector
- Composite materials are widely used in the aerospace and defense sector. The industry is one of the first to use composite materials for an ever-increasing range of applications and remains at the technological forefront of composite development.
- These materials are highly suitable for several interior and structural applications, demonstrating a unique combination of properties, combining excellent mechanical performance, JAR/FAR fire protection regulations from fire smoke, toxicity (FST), and heat release.
- These composites are used in large structural components, in addition to interior and flooring parts in regional and non-commercial aircraft. These materials not only increase the durabilitybut also reduce the overall cost. Some of the applications include panel structures, cargo, pallets and vessels, and unmanned aerial vehicles (UAVs) in the Airbus and Boeing aircraft.
- The global composites for the aerospace market islikely to project33% growth, in terms of volume, over the next five years. The burgeoning demand for composites in the aerospace anddefense sector is projected to boost the demand for core material for composites, during the forecast period.
United States to Dominate the North America Region
- United States has the largest aerospace industry in the world, one of the largest automotive, marine, and construction markets, which is continuously expanding at a steady pace.
- The total commercial aircraft fleet in the country is expected to reach 8,290 in 2038, owing to the growth in air cargo. Additionally, the US mainliner carrier fleet is expected to grow at an average rate of 45 aircraft per year, as the existing fleet is getting older.
- Exports of aerospace components to countries, such as France, China, and Germany, along with robust consumer expenditure in the United States, is driving the manufacturing activities in the aerospace industry.
- The United States is the second-largest producer of automotive, after China. Various automotive manufacturing companies are continuously investing in the country, amid threats from the government to increase levies on auto imports from Mexico.
- The gradual growth of the commercial construction sector, primarily in office space construction, is likely to have a positive impact on the market studied. Additionally, the rise in home sales, coupled with the renovation of the existing houses, is boosting the demand for residential construction in the United States.
- The country is also one of the major manufacturers of wind turbines. The top three wind turbine manufacturers, measured by the cumulative share of the US wind turbine fleet, are GE Renewable Energy, Vestas, and Siemens, with more than 75% of the share.
- Such factors have led to a significant increase in demand for core material for composites in the country and are likely to continue to do so through the forecast period as well.
Core Materials for Composites Industry Overview
The global core material for composites market is partially fragmented with the presence of many regional and global players. Some of the major players operating in the market studied include, Diab International AB, 3A Composites, and Gurit Holding AG, amongst others.
Core Materials for Composites Market Leaders
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Diab International AB
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3A Composites
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Gurit Holding AG
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Euro-Composites SA
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Hexcel Corporation
*Disclaimer: Major Players sorted in no particular order
Core Materials for Composites Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Increasing Demand from the Wind Energy Domain
- 4.1.2 Increasing Use of Composites in the Aerospace Industry
- 4.1.3 Emerging Applications in the Automotive Market
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4.2 Restraints
- 4.2.1 Highly Capital-intensive Market
- 4.2.2 Lack of Economical Manufacturing Processes for Bulk-volume Applications
- 4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION
-
5.1 Type
- 5.1.1 Foam Core
- 5.1.1.1 PVC Foam
- 5.1.1.2 Polystyrene Foam
- 5.1.1.3 Polyurethane Foam
- 5.1.1.4 PMMA Foam
- 5.1.1.5 SAN Co-polymer Foam
- 5.1.1.6 Other Thermoplastics
- 5.1.2 Honeycomb
- 5.1.2.1 Aluminum Honeycomb
- 5.1.2.2 Nomex Honeycomb
- 5.1.2.3 Thermoplastic Honeycomb
- 5.1.3 Wood
- 5.1.3.1 Balsa
- 5.1.3.2 Other Woods
-
5.2 End-user Industry
- 5.2.1 Aerospace and Defense
- 5.2.2 Marine
- 5.2.3 Construction
- 5.2.4 Wind Energy
- 5.2.5 Automotive
- 5.2.6 Consumer Goods
- 5.2.7 Other End-user Industries
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5.3 Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 India
- 5.3.1.3 Japan
- 5.3.1.4 South Korea
- 5.3.1.5 ASEAN Countries
- 5.3.1.6 Rest of Asia-Pacific
- 5.3.2 North America
- 5.3.2.1 United States
- 5.3.2.2 Canada
- 5.3.2.3 Mexico
- 5.3.3 Europe
- 5.3.3.1 Germany
- 5.3.3.2 United Kingdom
- 5.3.3.3 Italy
- 5.3.3.4 France
- 5.3.3.5 Spain
- 5.3.3.6 Rest of Europe
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
- 5.3.5 Middle East & Africa (MEA)
- 5.3.5.1 Saudi Arabia
- 5.3.5.2 South Africa
- 5.3.5.3 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share Analysis**
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 3A Composites
- 6.4.2 Armacell International SA
- 6.4.3 Changzhou Tiansheng New Materials Co. Ltd
- 6.4.4 Diab International AB
- 6.4.5 Euro-Composites SA
- 6.4.6 Evonik Industries AG
- 6.4.7 Gurit Holding AG
- 6.4.8 Hexcel Corporation
- 6.4.9 Plascore Incorporated
- 6.4.10 Saertex GmbH & Co.KG
- 6.4.11 The Gill Corporation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Emergence of PET Foam
- 7.2 Innovations Aimed at Lowering the Costs of End Products
Core Materials for Composites Industry Segmentation
The global core material for composites market includes:
| Type | Foam Core | PVC Foam |
| Polystyrene Foam | ||
| Polyurethane Foam | ||
| PMMA Foam | ||
| SAN Co-polymer Foam | ||
| Other Thermoplastics | ||
| Type | Honeycomb | Aluminum Honeycomb |
| Nomex Honeycomb | ||
| Thermoplastic Honeycomb | ||
| Type | Wood | Balsa |
| Other Woods | ||
| End-user Industry | Aerospace and Defense | |
| Marine | ||
| Construction | ||
| Wind Energy | ||
| Automotive | ||
| Consumer Goods | ||
| Other End-user Industries | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| ASEAN Countries | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| Italy | ||
| France | ||
| Spain | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle East & Africa (MEA) | Saudi Arabia |
| South Africa | ||
| Rest of Middle East & Africa |
Core Materials for Composites Market Research FAQs
What is the current Core Material for Composites Market size?
The Core Material for Composites Market is projected to register a CAGR of greater than 8% during the forecast period (2024-2029)
Who are the key players in Core Material for Composites Market?
Diab International AB, 3A Composites, Gurit Holding AG, Euro-Composites SA and Hexcel Corporation are the major companies operating in the Core Material for Composites Market.
Which is the fastest growing region in Core Material for Composites Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Core Material for Composites Market?
In 2024, the North America accounts for the largest market share in Core Material for Composites Market.
What years does this Core Material for Composites Market cover?
The report covers the Core Material for Composites Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Core Material for Composites Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Structural Core Materials Industry Report
Statistics for the 2024 Structural Core Materials market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Structural Core Materials analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
