Global Structural Core Market, By Type (Foam, Honeycomb, and Balsa), Outer Skin (GFRP, CFRP, and NFRP), End-user (Aerospace, Wind Energy, Marine, Transportation and Construction) – Industry Trends and Forecast to 2029.
Structural Core Market Analysis and Size
Structural core materials are becoming increasingly important in the wind energy, aerospace, marine, transportation, and construction industries, among others. Furthermore, structural core material manufacturers are entering into supply agreements with a variety of end-use industries in order to secure their market position in the structural core materials market.
Data Bridge Market Research analyses that structural core market was valued at USD 2.32 billion in 2021 and is expected to reach the value of USD 4.52 billion by 2029, at a CAGR of 8.7% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Structural Core Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Foam, Honeycomb, and Balsa), Outer Skin (GFRP, CFRP, and NFRP), End-user (Aerospace, Wind Energy, Marine, Transportation and Construction)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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ERG Aerospace Corporation (U.S.), CYMAT Technologies Ltd. (Canada), Alantum (South Korea), Mott Corporation (U.S.), Liaoning Rontec Advanced Material Technology Co., Ltd. (China), BASF SE (Germany), Covestro AG (Germany), Lapolla Industries, Inc. (U.S.), Huntsman International LLC ((U.S.), Dow (U.S.), DuPont (U.S.), Safco Foam Insulation (U.S.), Cajun Foam Insulation (U.S.), Saint-Gobain (France), Shanxi Putai Aluminum Foam Manufacturing Co., Ltd. (China), Mayser GmbH & Co. KG (Germany), Ultramet (U.S.) and Pohltec Metalfoam GmbH (Germany)
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Opportunities
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Market Definition
Structural core materials are lightweight materials bonded between two composite skins to serve as the central member of a sandwich structure. PVC foam, end-grain balsa wood, non-woven core fabrics, urethane foam, and several types of honeycomb materials are examples of these materials. The addition of a core to a laminate increases the section modulus, resulting in increased stiffness and the ability to create lightweight structures. Structural core materials are generally used to create strong, stiff, and lightweight structures for high-performance products.
Global Structural Core Market Dynamics
Drivers
- High adoption of green energies is paving a way for use of structural cores
Increased use of green energy, such as wind energy, has paved the way for the use of structural core in wind energy. The lightweight property gives the structural core market an advantage in the manufacturing industries. The aforementioned exceptional benefits, as well as its extensive use in a variety of applications, are expected to drive the global structural core market during the forecast period.
- Structural core beneficial characteristics is surging demand in various manufacturing industries
Rising global demand for clean energy is expected to drive the growth of the global structural core materials market in the long run. Furthermore, the increasing use of honeycomb core materials in the automotive and aerospace industries due to their lightweight, high stiffness, and other properties is expected to fuel the target market's growth to some extent.
Furthermore, rising demand for these materials in various end-use industries such as packaging, construction, electronics, and marine, owing to corrosion resistance, good thermal stability, and dielectric properties, is expected to drive the structural core materials market in the long run.
Opportunity
Increasing investments and R&D in aerospace and renewable energy resources such as wind power are expected to create lucrative opportunities for structural core material manufacturers and drive revenue growth in the potential market in the coming years.
Restraints
High capital and operating costs are major factors that can limit market growth.
This structural core market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the structural core market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
COVID-19 Impact Structural Core Market
COVID-19, or Novel Coronavirus, has not only disrupted human movement, but also the production and trade of major market products. The declining automotive industry has significantly impacted the structural cores market because it is the largest consumer and is expected to squeeze demand by the end of 2020. Furthermore, the coronavirus pandemic crisis reduced structural cores' price by more than 10% in the second quarter of FY2020. The trend is expected to continue until its end-use market recovers and pandemic cases decline.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Global Structural Core Market Scope
Structural core market is segmented on the basis of type, outer skin and end-user. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Foam
- Honeycomb
- Balsa
Outer skin
- GFRP
- CFRP
- NFRP
End user
- Aerospace
- Wind Energy
- Marine
- Transportation
- Construction
Structural Core Market Regional Analysis/Insights
Structural core market is analysed and market size insights and trends are provided by country, type, outer skin and end-user as referenced above.
The countries covered in the structural core market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
The North American market is expected to grow significantly in terms of both value and volume and to dominate the structural core materials market. The increasing demand for structural core materials such as honeycomb in the aerospace and wind energy industries is expected to drive growth in the North American structural core market.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Structural Core Market Share Analysis
Structural core market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to structural core market.
Some of the major players operating in structural core market are:
- ERG Aerospace Corporation (U.S.)
- CYMAT Technologies Ltd. (Canada)
- Alantum (South Korea)
- Mott Corporation (U.S.)
- Liaoning Rontec Advanced Material Technology Co., Ltd. (China)
- BASF SE (Germany)
- Covestro AG (Germany)
- Lapolla Industries, Inc. (U.S.)
- Huntsman International LLC ((U.S.)
- Dow (U.S.)
- DuPont (U.S.)
- Safco Foam Insulation (U.S.)
- Cajun Foam Insulation (U.S.)
- Saint-Gobain (France)
- Shanxi Putai Aluminum Foam Manufacturing Co., Ltd. (China)
- Mayser GmbH & Co. KG (Germany)
- Ultramet (U.S.)
- Pohltec Metalfoam GmbH (Germany)
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