Core Material for Composites Market by End-users (Construction, Wind Energy, Automotive, Consumer Goods, Aerospace & Defense, Marine, and Others), Types (Honeycomb, Foam Core, and Wood), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
The global core material for composites market size is expected to expand at a CAGR of 8.9% during the forecast period, 2021–2028. The growth of the market is attributed to rising composites usage in the aerospace industry and increasing composites usage in the wind energy domain.
Composite core materials are used to accomplish several functions of engineered structures by compensating for a specific design such as weight reduction, energy absorption, impact resistance, or stiffness. These materials also have a unique mix of features that make them ideal for a variety of interior and structural applications including JAR/FAR fire protection requirements, good mechanical performance, toxicity (FST), and heat release.
In regional and non-commercial aircraft, these composites are employed in big structural components as well as interior and flooring sections. Not only these materials are more durable but also they are affordable. As a result, these materials are widely used in various applications such as panel structures, freight, pallets, boats, as well as Unmanned Aerial Vehicles (UAVs) in Airbus and Boeing aircraft.
The COVID-19 pandemic had adversely impacted the market as majority of automobile and aviation manufacturers witnessed a sluggish income of their operations in the early and mid-2020. The United States, South Korea, Japan, Germany, Italy, and the United Kingdom were the most affected nations due to their significant investment on the automobile and transportation.
Market Trends, Drivers, Restraints, and Opportunities
- Introduction of PET foam and developments that help to produce final goods at a decreasing cost is expected to propel the market in the coming years.
- Rising defense budget and growing demand for composites in the aerospace & military sector across countries are driving the market.
- Absence of cost-effective manufacturing procedures for large-volume applications acts as a major hurdle that can hamper the market growth.
- High capital intensity is another key restraining factor that can hinder the market expansion during the forecast period.
- Massive R&D projects to develop goods in specialized applications to improve composite production create lucrative opportunities for the market.
Scope of the Report
The report on the global core material for composites market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
|
Attributes |
Details |
|
Report Title |
Core Material for Composites Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
|
Base Year |
2020 |
|
Historic Data |
2018–2019 |
|
Forecast Period |
2021–2028 |
|
Segmentation |
End-users (Construction, Wind Energy, Automotive, Consumer Goods, Aerospace & Defense, Marine, and Others), and Types (Honeycomb, Foam Core, and Wood) |
|
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
|
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
|
Key Players Covered in the Report |
3A Composites; Gurit Holding AG; Diab International AB; Euro-composites SA; and Hexcel Corporation |
Market Segment Insights
Automotive segment to hold a significant share of the market
In terms of end-users, the core material for composites market is divided into construction, wind energy, automotive, consumer goods, aerospace & defense, marine, and others. The automotive segment is expected to hold a significant share of the market ascribed to rising demand for fuel-efficient automobiles on the global market.
However, the aerospace & defense segment is projected to account for a significant market share during the targeted period due to growing need for light-weight automobiles and other areas of performance.
Foam core segment to grow at a high rate during the forecast period
Based on types, the market is segregated into honeycomb, foam core, and wood. The foam core segment is expected to grow at a high rate during the projected period due to the high demand for intricate lightweight systems from the aerospace, wind energy, and marine building industries.
Moreover, the honeycomb segment is expected to be a fast-growing segment during the forecast period as it provides low-strength, low-load applications such as home interior doors to high-strength components for aircraft constructions.
North America is anticipated to constitute a key market share
In terms of regions, the core material for composites market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period due to the wide allocation of money for the upgrade of defense and security system in the region.
The United States has the world's largest aircraft sector and a major economy for automotive, marine, and construction business. However, the market of Asia Pacific is anticipated to expand at a rapid pace during the forecast period due to technological advancements, administrative regulations, and government initiatives for the effective use of composite materials.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Core Material for Composites Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Core Material for Composites Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Core Material for Composites Market - Supply Chain
4.5. Global Core Material for Composites Market Forecast
4.5.1. Core Material for Composites Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Core Material for Composites Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Core Material for Composites Market Absolute $ Opportunity
5. Global Core Material for Composites Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Core Material for Composites Market Size and Volume Forecast by Types
5.3.1. Honeycomb
5.3.2. Foam Core
5.3.3. Wood
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Core Material for Composites Market Analysis and Forecast by End Users
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by End Users
6.2.2. Y-o-Y Growth Projections by End Users
6.3. Core Material for Composites Market Size and Volume Forecast by End Users
6.3.1. Construction
6.3.2. Wind Energy
6.3.3. Automotive
6.3.4. Consumer Goods
6.3.5. Aerospace & Defense
6.3.6. Marine
6.3.7. Other
6.4. Absolute $ Opportunity Assessment by End Users
6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Core Material for Composites Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Core Material for Composites Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Core Material for Composites Demand Share Forecast, 2019-2026
8. North America Core Material for Composites Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Core Material for Composites Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Core Material for Composites Market Size and Volume Forecast by Types
8.4.1. Honeycomb
8.4.2. Foam Core
8.4.3. Wood
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. North America Core Material for Composites Market Size and Volume Forecast by End Users
8.7.1. Construction
8.7.2. Wind Energy
8.7.3. Automotive
8.7.4. Consumer Goods
8.7.5. Aerospace & Defense
8.7.6. Marine
8.7.7. Other
8.8. Basis Point Share (BPS) Analysis by End Users
8.9. Y-o-Y Growth Projections by End Users
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Core Material for Composites Demand Share Forecast, 2019-2026
9. Latin America Core Material for Composites Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Core Material for Composites Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Core Material for Composites Market Size and Volume Forecast by Types
9.4.1. Honeycomb
9.4.2. Foam Core
9.4.3. Wood
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Latin America Core Material for Composites Market Size and Volume Forecast by End Users
9.7.1. Construction
9.7.2. Wind Energy
9.7.3. Automotive
9.7.4. Consumer Goods
9.7.5. Aerospace & Defense
9.7.6. Marine
9.7.7. Other
9.8. Basis Point Share (BPS) Analysis by End Users
9.9. Y-o-Y Growth Projections by End Users
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Core Material for Composites Demand Share Forecast, 2019-2026
10. Europe Core Material for Composites Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Core Material for Composites Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Core Material for Composites Market Size and Volume Forecast by Types
10.4.1. Honeycomb
10.4.2. Foam Core
10.4.3. Wood
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Europe Core Material for Composites Market Size and Volume Forecast by End Users
10.7.1. Construction
10.7.2. Wind Energy
10.7.3. Automotive
10.7.4. Consumer Goods
10.7.5. Aerospace & Defense
10.7.6. Marine
10.7.7. Other
10.8. Basis Point Share (BPS) Analysis by End Users
10.9. Y-o-Y Growth Projections by End Users
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Core Material for Composites Demand Share Forecast, 2019-2026
11. Asia Pacific Core Material for Composites Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Core Material for Composites Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Core Material for Composites Market Size and Volume Forecast by Types
11.4.1. Honeycomb
11.4.2. Foam Core
11.4.3. Wood
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Asia Pacific Core Material for Composites Market Size and Volume Forecast by End Users
11.7.1. Construction
11.7.2. Wind Energy
11.7.3. Automotive
11.7.4. Consumer Goods
11.7.5. Aerospace & Defense
11.7.6. Marine
11.7.7. Other
11.8. Basis Point Share (BPS) Analysis by End Users
11.9. Y-o-Y Growth Projections by End Users
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Core Material for Composites Demand Share Forecast, 2019-2026
12. Middle East & Africa Core Material for Composites Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Core Material for Composites Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Core Material for Composites Market Size and Volume Forecast by Types
12.4.1. Honeycomb
12.4.2. Foam Core
12.4.3. Wood
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Middle East & Africa Core Material for Composites Market Size and Volume Forecast by End Users
12.7.1. Construction
12.7.2. Wind Energy
12.7.3. Automotive
12.7.4. Consumer Goods
12.7.5. Aerospace & Defense
12.7.6. Marine
12.7.7. Other
12.8. Basis Point Share (BPS) Analysis by End Users
12.9. Y-o-Y Growth Projections by End Users
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Core Material for Composites Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Core Material for Composites Market: Market Share Analysis
13.2. Core Material for Composites Distributors and Customers
13.3. Core Material for Composites Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. 3A Composites
13.4.2. Gurit Holding AG
13.4.3. Diab International AB
13.4.4. Euro-composites SA
13.4.5. Hexcel Corporation