Market Size of Core Material for Composites Industry
| 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 Industry Segmentation
The global core material for composites market includes:
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Core Material for Composites Market Size Summary
The core materials for composites market is poised for significant growth, driven primarily by the increasing application of composite materials in the aerospace and wind energy sectors. These materials are integral to the aerospace industry, where they are utilized for both structural and interior applications, offering a blend of mechanical strength and compliance with fire safety regulations. The demand for composites in aerospace is expected to surge, spurring the need for core materials. However, challenges such as high capital requirements and the lack of cost-effective manufacturing processes for large-scale applications may impede market expansion. Innovations like PET foam are anticipated to create new opportunities by reducing product costs, potentially enhancing market growth over the forecast period.
In the United States, the core materials for composites market is bolstered by its robust aerospace, automotive, marine, and construction industries. The country's aerospace sector, the largest globally, is experiencing growth in its commercial aircraft fleet, driven by increasing air cargo demand and fleet modernization. The automotive industry is also expanding, supported by investments from major manufacturers. Additionally, the construction sector benefits from rising home sales and office space development, further fueling demand for core materials. The wind energy sector, with significant contributions from leading manufacturers like GE Renewable Energy, Vestas, and Siemens, also plays a crucial role in this market's growth. The market landscape is characterized by a mix of regional and global players, including Diab International AB, 3A Composites, and Gurit Holding AG, contributing to its partially fragmented nature.
Core Material for Composites Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Demand from the Wind Energy Domain
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1.1.2 Increasing Use of Composites in the Aerospace Industry
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1.1.3 Emerging Applications in the Automotive Market
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1.2 Restraints
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1.2.1 Highly Capital-intensive Market
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1.2.2 Lack of Economical Manufacturing Processes for Bulk-volume Applications
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Foam Core
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2.1.1.1 PVC Foam
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2.1.1.2 Polystyrene Foam
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2.1.1.3 Polyurethane Foam
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2.1.1.4 PMMA Foam
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2.1.1.5 SAN Co-polymer Foam
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2.1.1.6 Other Thermoplastics
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2.1.2 Honeycomb
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2.1.2.1 Aluminum Honeycomb
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2.1.2.2 Nomex Honeycomb
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2.1.2.3 Thermoplastic Honeycomb
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2.1.3 Wood
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2.1.3.1 Balsa
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2.1.3.2 Other Woods
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2.2 End-user Industry
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2.2.1 Aerospace and Defense
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2.2.2 Marine
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2.2.3 Construction
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2.2.4 Wind Energy
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2.2.5 Automotive
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2.2.6 Consumer Goods
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2.2.7 Other End-user Industries
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 ASEAN Countries
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2.3.1.6 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 Italy
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2.3.3.4 France
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2.3.3.5 Spain
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2.3.3.6 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle East & Africa (MEA)
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle East & Africa
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Core Material for Composites Market Size 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.
