Global Core Materials Market was valued at USD 1.2 billion in 2019 which is expected to reach USD 2.5 billion by 2027 at a CAGR 13.3%.
Core materials are used in aerospace and wind energy equipment for improving strength of material. These are generally low strength material however; its thickness provides the sandwich composite a high bending stiffness with low density. Also, core materials are used in various industries such as automotive, wind energy, and marine.
The market overview section encompasses all aspects of the Core Materials Market, promoting or restraining its expansion. Boosters and constraints of the Core Materials Market have been studied meticulously. Strategic research methodologies were adopted for maintaining accuracy in results, obtained from primary and secondary research. Our skilled analysts scientifically investigated the compound annual growth rate (CAGR) and the approximate revenue the Core Materials Market can generate over the assessment period. A bottom-up approach has been maintained throughout the research. The distinctive nature of the report on the Core Materials Market is evident from the segmental study section.
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The report includes detailed analysis of substantial factors that impact the Core Materials Market significantly. The report accurately explains the factors that are driving, restraining, and challenging the Core Materials Market growth over the assessment period. It also includes the changing aspects that are expected to create likely opportunities for market players to reach a comprehensive understanding of the market.
Increase in demand from wind energy & aerospace industries for core materials is the key driving factor which is expected to drive the global care materials market growth. Also, increase in launches of core materials will have the positive impact on global core materials market growth. For instance, in March 2018, Evonik industries had launched its new core material which is named as ROCHACRYL, ROCHACRYL has various features such as thermally stable, lightweight, and environment friendly. This product is used in wind energy for manufacturing of turbine blades. Moreover, increase in mergers and acquisition activities by key players expected to propel the global core materials market growth. For Instance, in 2016, Gurit Holding AG acquired the BASF’ S PET Business in Italy. This acquisition will help Gurit Holding AG to expand their PET production capacity in Europe and increase structural core material product range.
However, higher cost of investment and delay in renewal of production of tax credit are the restraining factors which are expected to hamper the global core materials market growth.
Market Key Players
Various key players are discussed in this report such as The Gill Corporation, Euro-Composites S.A, Changzhou Tiansheng New Materials Co. Ltd, 3A Composites, Armacell International S.A, Hexcel Corporation, Gurit Holding AG,and Evonik Industries.
- SAN Foam
- PET Foam
- PVC Foam
By Industry Vertical
- Wind Energy
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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