The global core materials market size is expected to reach USD 3,288.1 Million at a revenue CAGR of 13.2% in 2028, according to latest analysis by Emergen Research. Steady revenue growth of the core materials market can be attributed to rising demand for high strength, lightweight materials in the aerospace industry. Aerospace industry is a major consumer of core materials owing to advantages of designing aircraft structural components deploying sandwich construction for weight reduction. Thermoplastic foam finds extensive use in the aerospace industry for meeting rising demand for lightweight, resilient, and strong structures, including for aircraft and launch vehicles, along with radomes, rotor blades, flight control surfaces, and satellite containment fairings. Also, core materials account for lower overall aircraft weight, thus increasing fuel-efficiency.
The report succinctly analyzes the potential revenue growth of the Core Materials market, its development patterns, and the future market trends. Moreover, the research report specializes in the meticulous analysis of the present market scenario. It forecasts the market value, volume, drivers, restraints, demand and supply ratio, production capacity, import/export status, growth rate, and other critical aspects over the projected period.
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Some Key Highlights From the Report
- In December 2019, Huntsman Corporation made an announcement about signing a contract for the acquisition of Icynene-Lapolla (from FFLPartners LLC's affiliate), which is a firm engaged in production and distribution of spray polyurethane foam insulation systems for use in commercial and residential applications.
- By product type, foams segment revenue is expected to expand at a faster rate over the forecast period. Foams such as polystyrene foam (expanded polystyrene) finds extensive use due to its cushioning and insulating features. Polystyrene foam is over 95% air and is extensively used in production of appliance and home insulation, surfboards, lightweight protective packaging, automobile parts, foodservice and food packaging, and road stabilization systems.
- By application, automotive segment revenue is expected to register at a significantly robust growth rate over the forecast period. Composite materials find wide use in the automotive industry to produce lightweight, safer, and highly fuel-efficient vehicles. Use of thermoplastic foams enable substitutional freedom in component/part designing, thus permitting development of shapes and forms that would be impossible with other materials. Also, integration of various features, including sensors open up several opportunities for the automotive industry and in turn, is fueling demand for thermoplastics foams owing to economic benefits in decreasing cost of assembly.
Key Market Players:
Hexcel Corporation, Evonik Industries AG, Euro-Composites SA, 3A Composites, the Gill Corporation, BASF SE, Plascore Inc., Gurit Holdings, Toray Industries Inc., and Armacell International SA.
Emergen Research has segmented the global core materials market on the basis of product type, distribution channel, application, and region:
- Product Type Outlook (Revenue, USD Million; 2018-2028)
- Polystyrene Foam
- Polyvinyl Chloride Foam
- Polyurethane Foam
- Aluminum Honeycomb
- Thermoplastic Honeycomb
- Nomex Honeycomb
- Distribution Channel Outlook (Revenue, USD Million; 2018-2028)
- Application Outlook (Revenue, USD Million; 2018-2028)
- Wind Energy
- Aerospace & Defense
- Building & Construction
Key Geographical Segments:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The report offers a panoramic view of the Core Materials market on both global and regional levels. The study is further supported by key statistical data and industry-verified facts. The study strives to carefully gauge the present and future market growth prospects, untapped avenues, demand and consumption patterns, and the crucial factors poised to impact each market region's revenue potential. Therefore, the report scrutinizes the numerous growth trends & prospects and the significant challenges and threats that the market players might face in the upcoming years.
Target Audience of the Global Core Materials Market report:
- Global Core Materials market providers, traders, distributors, and suppliers
- Research organizations, End-use industries, consulting organizations, and various alliances related to this business sphere.
- Independent regulatory authorities, government bodies, and policymakers.
Table of Content:
Chapter 1. Methodology & Sources 1.1. Market Definition 1.2. Research Scope 1.3. Methodology 1.4. Research Sources 1.4.1. Primary 1.4.2. Secondary 1.4.3. Paid Sources 1.5. Market Estimation Technique Chapter 2. Executive Summary 2.1. Summary Snapshot, 2020-2028 Chapter 3. Key Insights Chapter 4. Core Materials Market Segmentation & Impact Analysis 4.1. Core Materials Market Material Segmentation Analysis 4.2. Industrial Outlook 4.2.1. Market indicators analysis 4.2.2. Market drivers' analysis 22.214.171.124. Growing use of composite materials in wind turbines 126.96.36.199. Growing demand for lightweight aircraft 188.8.131.52. Growth of automotive industry 184.108.40.206. Rapid urbanization in developing countries, resulting in growth of construction sector 220.127.116.11. Increasing use of core materials to manufacture medical devices 4.2.3. Market restraints analysis 18.104.22.168. Cost prohibitive Core Materials 4.3. Technological Insights 4.4. Regulatory Framework 4.5. Porter's Five Forces Analysis 4.6. Competitive Metric Space Analysis 4.7. Price trend Analysis 4.8. Covid-19 Impact Analysis
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