Global Core Materials
Market Report
2024
Delivery Includes:- Market Timeline 2019 till 2031, Market Size, Revenue/Volume Share, Forecast and CAGR, Competitor Analysis, Regional Analysis, Country Analysis, Segment Analysis, Market Trends, Drivers, Opportunities, Restraints, ESG Analysis, Porters Analysis, PESTEL Analysis, Market Attractiveness, Patent Analysis, Technological Trend, SWOT Analysis, COVID-19 Analysis, Consumer Behavior Analysis, etc.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global core materials market size was USD XX million in 2023 and will expand at a compound annual growth rate (CAGR) of 8.8% from 2024 to 2031.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Market Size | 121212 |
Country Market Size | 121212 |
North Americ Market Size | 121212 |
Europe Market Size | 121212 |
Asia Pacific Market Size | 121212 |
South America Market Size | 121212 |
Middle East and Africa Market Size | 121212 |
Market Split by Type |
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Market Split by Application |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Report scope is customizable as we have a huge database of Core Materials industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Core Materials Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
In end-use applications, core or structural materials are lightweight and use high-strength materials to create structures with a high strength-to-weight ratio. These materials serve as the main building blocks for sandwich panels and are often composed of engineering materials like foam, wood, or paper. These sandwich panels are essential components of wind turbines, boats, ships, and other structures' structural design. As a result, the core material is widely used in foam, honeycomb, balsa, automotive, energy, marine, and industrial applications. It also provides superior conductivity, maximum fire resistance, and great sound insulation.
Since these materials provide large energy absorption, stiffness, and impact resistance, they are frequently used in engineering constructions of various designs. The broad use of core materials in a variety of industries, including aerospace and marine, is linked to the market's expansion. In these sectors, designers usually concentrate on the structural characteristics needed for final applications. For example, honeycomb core material is commonly used in aerospace and maritime applications because it has an excellent strength-to-weight ratio and gives the sandwich structure's two skins the ideal amount of space between each other.
Boost in the Aerospace Industry is propelling demand for core materials-
The global aerospace industry is characterized by high growth potential. For instance, according to the Department of Scientific and Industrial Research, even though the Indian aerospace sector is still in its early stages and only makes up 0.25 percent of the global aerospace industry, it has grown at a rate of around 20% annually since 2004. In 2010, India's total exports to the sector were valued at US$ 1.5 billion, with aviation parts accounting for over 96% of this total.
Source- https://www.dsir.gov.in/sites/default/files/2019-11/8_0.pdf
The product's unique qualities—such as high strength, great flexibility, low maintenance, radar transparency, and low thermal conductivity—make it highly utilized in flight vehicles, Unscrewed Air Vehicles (UAVS), and airships, which contributes to the market's growth. The materials that are most frequently utilized are polystyrene, polyurethane, polyvinyl chloride, honeycombs, and balsa wood, as well as open and closed-structured foams. These materials are also more versatile for the aerospace sector because they may be used in structural production processes like vacuum bagging, prepreg, wet lamination, press bonding, and RTM. These manufacturing techniques are used, for example, to create floors, landing gear doors, interior parts, and flight control surfaces. In the aerospace sector, several materials are also used to provide the required sandwich structure with extra properties like FST insulation or resistance.
Thus, the aerospace industry's growth is driving up demand for core materials.
The introduction of lightweight and flexible core materials is driving the demand for core material industry-
An important factor propelling the worldwide market is the growing need for lightweight materials in sectors such as automotive and aerospace. Core materials contribute to the end product's weight reduction, which enhances performance, reduces emissions, and improves fuel efficiency. The core materials that are used have great flexibility along with being lightweight. For instance, New flexible PET foams from Armacell International S.A. were introduced to the global market. The goal of launching a new product is to increase sales.
Source- https://local.armacell.com/fileadmin/cms/pet-foams/Brochure/Armacell_image.pdf
The aircraft industry places a high value on weight reduction. These lightweight materials have the potential to significantly improve fuel efficiency and boost profitability. In order to reduce weight, the aircraft industry uses a lot of material-based structural components. These materials also provide design flexibility, allowing for maintenance-related modifications.
Consequently, over the projected period, the use of lightweight and flexible materials will propel market expansion.
Technological Improvements will lead to increased demand for core materials-
The market is propelled by ongoing technical advancements that improve the efficacy and efficiency of Core Materials' offerings. For instance, Gurit® PVC is a polyvinyl chloride (PVC) foam with closed cells launched by Gurit Holdings that has been cross-linked. High strength-to-weight ratios are offered for all composite applications. Gurit® PVC also has exceptional chemical resistance, minimal water absorption, and superior thermal insulation qualities. Up to 140°C high-temperature processing is available with the HT option.
Source- https://www.gurit.com/wp-content/uploads/2022/11/Core_brochure-2.pdf
This covers improvements in digital technology, production methods, and materials. To meet the needs of diverse end-users across a range of industries, the major players in the global core material market are concentrating on introducing a range of core material products that would drive the global core material market. For instance, Gurit® CorecellTM is a structural foam core material launched by Gurit Holding with exceptional toughness and impact resistance that uses a SAN (styrene-acrylonitrile) polymer basis. Through a variety of processing techniques, Gurit® CorecellTM has gained widespread acceptance for the building of massive, high-performance structures.
Source- https://www.gurit.com/wp-content/uploads/2022/11/Core_brochure-2.pdf
Concerns regarding sustainable production impede market growth-
The end-use industries have a high demand for these materials, but market expansion may be hampered by environmental issues and the growing need for sustainable production. The sandwich structure is used in the marine, aerospace, automotive, energy, construction, and industrial industries. This material is used to make the flooring, bulkheads, and hatches of the panels. PVC and wood are typically used to make these materials. The production of these polymers and the chopping of the wood are subject to laws and regulations in several nations, including the United Kingdom. Furthermore, polymers like PVC and PET are not biodegradable and are subject to strict regulations in many nations.
As a result, these variables have an impact on material demand and constrain the market.
The high cost of advanced core materials hampers the market growth-
The high price of advanced core materials is a major barrier to the global market for core materials. Advanced honeycomb and high-performance foams are examples of materials with specialized features and production processes that come with a higher price. This expense challenge may prevent them from being widely used, especially in sectors where costs are a factor. The availability of key materials in the market and total output can also be negatively impacted by supply chain interruptions and raw material availability associated with the high cost.
Thus, the high cost of advanced core materials hampers the market growth.
In 2019, COVID-19 became widespread, affecting almost all nations worldwide. Changes in the supply chain caused the production of core materials to either stop or reduce. This led to a low level of demand for the product and limited manufacturing. The end-use sectors were also running at their lowest production capacity, which meant that the product's suppliers and producers faced low demand. The imposition of limits on people's transportation and mobility by nations like the United States, India, and China resulted in the significant decline of this business. For example, in 2020, the pandemic affected the automobile sector, resulting in the manufacturing of vehicle parts being closed. The product's exceptional stiffness makes it a popular choice for seat constructions and dashboard cushioning, among other applications, thus its closure will have a direct effect on demand. In addition, the manufacturers of the products were having trouble balancing their business objectives with meeting basic needs.
During COVID-19, there wasn't a huge demand for these materials, but the market eventually recovered to its pre-pandemic levels. To meet the demand, the goods makers are working to the fullest extent of their abilities. The aging fleet in the automotive industry could also increase demand for the material during the projected period.
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Major market companies are extensively investing in research and development to extend their product lines, which will fuel the lead acid battery industry's growth. Market participants are additionally implementing a range of strategic measures into practice to increase their worldwide footprint, such as launching new products, negotiating deals, merging with other businesses, increasing their investments, and partnering. Competitors in the core materials industry need to provide competitively priced products in an environment where the market is growing more volatile and competitive in order to expand and compete.
Recent Developments in the Core Materials Market
Applications for this polyshape core material include aircraft, watercraft, and helicopters. The goal of the core material launch is to make a name for itself across various end-use sectors.
Source- https://www.euro-composites.com/en/
Top Companies Market Share in Core Materials Industry: (In no particular order of Rank)
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Asia Pacific accounted for the biggest share of the market for core materials and is predicted to hold a dominant position throughout the forecast period. The region's high level of industrial activity is linked to the market's expansion, which benefits the region's various sectors. Furthermore, the population of the region's nations is highest in China and India. Being one of the biggest users of automotive applications, demand is still high despite the COVID-19 pandemic-related decline in the sector. One of the essential raw materials used in the production of automotive components is this substance. As a result, during the course of the projected period, the market is anticipated to rise at a high CAGR.
The aircraft industry's explosive growth is linked to North America's need for core materials. There are a lot of important players and aerospace institutions in the area. On the other hand, a number of the region's nations, including the United States, have seen an increase in aerospace R&D activity during the past year.
The automobile industry in Europe is growing at a rapid pace, which has resulted in enormous market expansion. Major market expansion is being driven by factors such as consumer desire for cars and trucks and high per capita income. Furthermore, it is anticipated that the region's use of materials will increase due to the existence of a few material manufacturers.
The current report Scope analyzes Core Materials Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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Global Core Materials Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Core Materials Industry growth. Core Materials market has been segmented with the help of its Type, Application , and others. Core Materials market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Foam type segment dominates the market of core materials. Based on type, the market is divided into foam, honeycomb, and balsa segments. Foam materials are highly sought after since they are lightweight and possess remarkable characteristics, making them highly utilized in the automobile and aerospace industries. Since foams have a high dimensional density and low maintenance requirements, they can be mixed with composite material sheets to create a structural sandwich that is better suited for end-use applications.
Additionally, the demand for the materials market has increased due to the use of honeycomb materials in end-use applications.
Overexpanded NOMEX aramid and extruded polypropylene are used to make honeycombs, which are best suited for vehicles such as cars, trucks, boats, and ships since they are lighter and more resistant to heat and chemicals than traditional building materials.
In the meanwhile, maritime and aerospace applications use the balsa segment. As a result, the need for materials is gradually growing.
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The aerospace segment dominates the core materials market. The market is divided into marine, automotive, aerospace, energy, construction, and industrial segments based on application. The aerospace sector is growing rapidly, which is correlated with the rise of core materials. For example, NOMEX honeycomb material allows for sturdy and stiff floor structures, which helps the company maintain a leading market share in the aerospace floor panels industry. Furthermore, the aerospace industry's growing need for memory foam and viscoelastic foam is anticipated to increase demand for these materials because the latter provides a high degree of flexibility throughout an aircraft's flight.
Furthermore, because there is a strong need for boats, ships, maritime transportation, and the naval sector, the marine segment is anticipated to increase significantly. Materials like balsa wood are heavily used in the structural design of these applications.
In the marine sector, these materials are frequently used to design the deck, hulls, and nacelle. Therefore, it is anticipated that the segment will grow throughout the projection period when the material is used in maritime applications. However, because the materials are utilized for insulation, the construction and industrial sectors consume a large amount of them.
The above Graph is for representation purposes only. This chart does not depict actual Market share.
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Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Core Materials Market is witnessing significant growth in the near future.
In 2023, the Foam segment accounted for noticeable share of global Core Materials Market and is projected to experience significant growth in the near future.
The Marine segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Changzhou Tiansheng New Materials, Gurit Holding and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
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Type | Foam, Honeycomb, Balsa |
Application | Marine, Automotive, Aerospace, Energy, Construction, Industrial |
List of Competitors | Changzhou Tiansheng New Materials, Armacell International, Gurit Holding, Euro Composites, The Gill Corporation, Diab Group, Hexcel Corporation, 3A Composites, Plascore Incorporated, Evonik Industries |
This chapter will help you gain GLOBAL Market Analysis of Core Materials. Further deep in this chapter, you will be able to review Global Core Materials Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
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Chapter 11 Market Split by Application Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Core Materials market
Chapter 12 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Foam have a significant impact on Core Materials market? |
What are the key factors affecting the Foam and Honeycomb of Core Materials Market? |
What is the CAGR/Growth Rate of Marine during the forecast period? |
By type, which segment accounted for largest share of the global Core Materials Market? |
Which region is expected to dominate the global Core Materials Market within the forecast period? |
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Additional Data Analysis |
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Additional Quantitative Data |
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