HOME Top Market Reports Core Materials Market for Composites by Type (Foam, Honeycomb, and Balsa), by End-Use Industry (Aerospace, Wind Energy, Marine, Transportation, Construction, and Others), and by Region - Global Forecasts to 2021

Core Materials Market for Composites by Type (Foam, Honeycomb, and Balsa), by End-Use Industry (Aerospace, Wind Energy, Marine, Transportation, Construction, and Others), and by Region - Global Forecasts to 2021

By: marketsandmarkets.com
Publishing Date: May 2016
Report Code: CH 3159

 

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The global core materials market size for composites was USD 1.14 Billion in 2015 and is projected to reach USD 1.72 Billion by 2021, registering a CAGR of 8.60% between 2016 and 2021. In this study, 2015 is considered as the base year and 2016-2021 as the forecast period for the core materials market. In this research report, the market for core materials has been categorized based on type, end-use industry, and region. Revenue growth forecasts and analysis of trends on each of the submarkets are provided in the report.

Different secondary sources such as company websites, encyclopedias, directories, and databases have been used to identify and collect information that is useful for this extensive commercial study of the global core materials market for composites. The primary sources, which include experts from related industries, have been interviewed to verify and collect critical information as well as to assess the future prospects of the market. The top-down approach has been implemented to validate the market size, in terms of value and volume. With the data triangulation procedure and validation of data through primaries, the exact values of the overall parent market size and individual market sizes have been determined and confirmed in this study.

Core Materials Market for Composites

To know about the assumptions considered for the study, download the pdf brochure

The market for core materials has a diversified and established ecosystem of its upstream players such as the raw material suppliers and the downstream stakeholders such as manufacturers, vendors, end users, and government organizations. Most of the major players in the core materials market for composites have backward and forward integration to strengthen their position in the market. Some of the manufacturers of core materials  include Diab Group (Sweden), Hexcel Corporation (U.S.), 3A Composites (Switzerland), Euro-Composites S.A. (Luxembourg), Gurit Holding AG (Switzerland), and The Gill Corporation (U.S.).

Target Audience

  • Core materials manufacturers
  • Raw materials suppliers
  • Distributors and suppliers
  • End-use industries
  • Industry associations

“This study answers several questions for the stakeholders, primarily which market segments to focus in next two to five years for prioritizing the efforts and investments”.

Scope of the Report:

This research report categorizes the core materials market for composites based on type, end-use industry, and region and forecasts revenue growth and analysis of trends in each of the submarkets.

By Type:

  • Foam
  • Honeycomb
  • Balsa

By End-Use Industry:

  • Aerospace
  • Wind Energy
  • Marine
  • Transportation
  • Construction
  • Others

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Middle East & Africa (ME&A)
  • Latin America

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:

Product Analysis

  • Product matrix, which gives a detailed comparison of product portfolio of each company

Regional Analysis

  • Further breakdown of the North American core materials market for composites
  • Further breakdown of the European core materials market for composites
  • Further breakdown of the Asia-Pacific core materials market for composites
  • Further breakdown of the ME&A core materials market for composites
  • Further breakdown of the Latin America core materials market for composites

Company Information

  • Detailed analysis and profiling of additional market players

Table of Contents

1 Introduction (Page No. - 18)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
            1.3.1 Markets Covered
            1.3.2 Years Considered for the Report
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 22)
    2.1 Research Data
    2.2 Secondary Data
            2.2.1 Key Data From Secondary Sources
    2.3 Primary Data
            2.3.1 Key Data From Primary Sources
            2.3.2 Key Industry Insights
            2.3.3 Breakdown of Primaries
    2.4 Market Size Estimation
            2.4.1 Bottom-Up Approach
            2.4.2 Top-Down Approach
    2.5 Market Breakdown and Data Triangulation
    2.6 Research Assumptions

3 Executive Summary (Page No. - 30)

4 Premium Insights (Page No. - 34)
    4.1 Core Materials Market Size, 2016–2021 (USD Million)
    4.2 Core Materials Market Growth, By Type, 2016-2021
    4.3 Core Materials Market- Aerospace Industry Holds the Major Market Share
    4.4 Market Attractiveness, By Countries, 2016-2021
    4.5 Core Materials Market Size, By Country
    4.6 Core Materials Market Size, By Application

5 Market Overview (Page No. - 38)
    5.1 Introduction
    5.2 Market Segmentation
            5.2.1 Core Materials Market, By Type
            5.2.2 Core Materials Market, By End-Use Industry
    5.3 Market Dynamics
            5.3.1 Drivers
                     5.3.1.1 Growing Demand From Wind Energy Market
                     5.3.1.2 Growing Use of Composites in the Aerospace End-Use Industry
                     5.3.1.3 Recovery of Marine Market in the U.S. After the Economic Recession
            5.3.2 Restraints
                     5.3.2.1 Delay in Renewal of Production Tax Credit (PTC)
                     5.3.2.2 Highly Capital-Intensive Market
            5.3.3 Opportunities
                     5.3.3.1 Emergence of PET Foam
            5.3.4 Challenges
                     5.3.4.1 Uncertain Wind Energy Market in the U.S.
    5.4 Revenue Pocket Analysis, By Regions and End Use Industries

6 Industry Trends (Page No. - 52)
    6.1 Introduction
    6.2 Value Chain Analysis
    6.3 Porter’s Five Forces Analysis
            6.3.1 Threat of New Entrants
            6.3.2 Threat of Substitutes
            6.3.3 Bargaining Power of Buyers
            6.3.4 Bargaining Power of Suppliers
            6.3.5 Intensity of Rivalry
    6.4 Patents Trend Analysis

7 Macro Economic Overview and Key Drivers (Page No. - 57)
    7.1 Introduction
    7.2 Trends and Forecast of GDP
    7.3 Per Capita GDP vs. Per Capita Core Materials Demand
    7.4 Trends and Forecast of Construction Industry
    7.5 Trends of Wind Energy Industry
    7.6 Trends of Aerospace Industry
    7.7 Trends of Automotive Industry

8 Core Materials Market, By Type (Page No. - 71)
    8.1 Introduction
    8.2 Foam
            8.2.1 PVC Foam
            8.2.2 PET Foam
            8.2.3 SAN Foam
    8.3 Honeycomb
    8.4 Balsa

9 Core Materials Market, By End-Use Industry (Page No. - 82)
    9.1 Introduction
    9.2 Aerospace
    9.3 Wind Energy
    9.4 Marine
    9.5 Transportation
    9.6 Construction
    9.7 Others

10 Core Materials Market, By Region (Page No. - 95)
     10.1 Introduction
     10.2 North America
                10.2.1 U.S.
                10.2.2 Canada
     10.3 Europe
                10.3.1 Germany
                10.3.2 France
                10.3.3 U.K.
                10.3.4 Rest of Europe
                           10.3.4.1 Italy
                           10.3.4.2 Austria
                           10.3.4.3 Netherlands
                           10.3.4.4 Poland
                           10.3.4.5 Sweden
                           10.3.4.6 Spain
                           10.3.4.7 Russia
                           10.3.4.8 Turkey
     10.4 Asia-Pacific
                10.4.1 China
                10.4.2 India
                10.4.3 Rest of Asia-Pacific
                           10.4.3.1 Japan
                           10.4.3.2 Korea
                           10.4.3.3 Australia & New Zealand
                           10.4.3.4 Malaysia
     10.5 ME&A
                10.5.1 Saudi Arabia
                10.5.2 South Africa
                10.5.3 Rest of ME&A
                           10.5.3.1 Uae
     10.6 Latin America
                10.6.1 Brazil
                10.6.2 Mexico
                10.6.3 Rest of Latin America
                           10.6.3.1 Argentina
                           10.6.3.2 Chile

11 Competitive Landscape (Page No. - 137)
     11.1 Overview
     11.2 Competitive Situations and Trends
     11.3 Key Growth Strategies
                11.3.1 AGreements, Partnerships, & Joint Ventures
                11.3.2 Expansions
                11.3.3 New Product & Technology Launches
                11.3.4 Mergers & Acquisitions

12 Company Profiles (Page No. - 145)
(Overview, Financial*, Products & Services, Strategy, and Developments)
     12.1 Introduction
     12.2 Diab Group (Ratos)
     12.3 Hexcel Corporation
     12.4 3A Composites
     12.5 Euro-Composites S.A.
     12.6 Gurit Holding AG
     12.7 The Gill Corporation
     12.8 Changzhou Tiansheng New Materials Co. Ltd
     12.9 Plascore Incorporated
     12.10 Armacell International S.A.
     12.11 Evonik Industries

*Details Might Not Be Captured in Case of Unlisted Companies

13 Appendix (Page No. - 175)
     13.1 Insights From Industry Experts
     13.2 Discussion Guide
     13.3 Introducing RT: Real Time Market Intelligence
     13.4 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.5 Available Customizations
     13.6 Related Reports


List of Tables (111 Tables)

Table 1 Core Materials Market Size, 2014–2021
Table 2 Global Wind Installations, 2011–2015
Table 3 Properties of PET Foam in End-Use Industries
Table 4 Trends and Forecast of GDP, USD Billion (2015–2021)
Table 5 Per Capita GDP vs. Per Capita Core Materials Demand, 2015
Table 6 Trends and Forecast of Construction Industry in North America, USD Billion (2014–2021)
Table 7 Trends and Forecast of Construction Industry in Europe, USD Billion (2014–2021)
Table 8 Trends and Forecast of Construction Industry in Asia-Pacific, USD Billion (2014–2021)
Table 9 Trends and Forecast of Construction Industry in ME&A,USD Billion (2014–2021)
Table 10 Trends and Forecast of Construction Industry in Latin America, USD Billion (2014–2021)
Table 11 Trends of Wind Energy Industry, MW (2014–2015)
Table 12 Market of New Airplanes, 2014
Table 13 Trends of Automotive Industry, Thousand Units (2011-2015)
Table 14 Core Materials Market Size, By Type, 2014–2021 (USD Million)
Table 15 Core Materials Market Size, By Type, 2014–2021 (Kiloton)
Table 16 Foam Core Materials Market Size, By Region, 2014–2021 (USD Million)
Table 17 Foam Core Materials Market Size, By Region, 2014–2021 (Kiloton)
Table 18 Honeycomb Core Materials Market Size, By Region,2014–2021 (USD Million)
Table 19 Honeycomb Core Materials Market Size, By Region, 2014–2021 (Kiloton)
Table 20 Balsa Core Materials Market Size, By Region, 2014–2021 (USD Million)
Table 21 Balsa Core Materials Market Size, By Region, 2014–2021 (Kiloton)
Table 22 Core Materials Market Size, By End-Use Industry,2014–2021 (USD Million)
Table 23 Core Materials Market Size, By End-Use Industry, 2014–2021 (Kiloton)
Table 24 Core Materials Market Size in Aerospace Industry, By Region,2014–2021 (USD Million)
Table 25 Core Materials Market Size in Aerospace Industry, By Region,2014–2021 (Kiloton)
Table 26 Core Materials Market Size in Wind Energy Industry, By Region,2014–2021 (USD Million)
Table 27 Core Materials Market Size in Wind Energy Industry, By Region,2014–2021 (Kiloton)
Table 28 Core Materials Market Size in Marine Industry, By Region,2014–2021 (USD Million)
Table 29 Core Materials Market Size in Marine Industry, By Region,2014–2021 (Kiloton)
Table 30 Core Materials Market Size in Transportation Industry, By Region, 2014–2021 (USD Million)
Table 31 Core Materials Market Size in Transportation Industry, By Region, 2014–2021 (Kiloton)
Table 32 Core Materials Market Size in Construction Industry, By Region,2014–2021 (USD Million)
Table 33 Core Materials Market Size in Construction Industry, By Region,2014–2021 (Kiloton)
Table 34 Core Materials Market Size in Other Industries, By Region,2014–2021 (USD Million)
Table 35 Core Materials Market Size in Other Industries, By Region,2014–2021 (Kiloton)
Table 36 Core Materials Market Size, By Region, 2014–2021 (USD Million)
Table 37 Core Materials Market Size, By Region, 2014–2021 (Kiloton)
Table 38 North America: Core Materials Market Size, By Country,2014-2021 (USD Million)
Table 39 North America: Core Materials Market Size, By Country,2014-2021 (Kiloton)
Table 40 North America: Core Materials Market Size, By Type,2014–2021 (USD Million)
Table 41 North America: Core Materials Market Size, By Type,2014–2021 (Kiloton)
Table 42 North America: Core Materials Market Size, By End-Use Industry,2014–2021 (USD Million)
Table 43 North America: Core Materials Market Size, By End-Use Industry,2014–2021 (Kiloton)
Table 44 U.S.: New Wind Energy Installations, 2010-2015, (MW)
Table 45 U.S.: Core Materials Market Size, By Type, 2014–2021 (USD Million)
Table 46 U.S.: Core Materials Market Size, By Type, 2014–2021 (Kiloton)
Table 47 Canada: New Wind Energy Installations, 2010-2015, (MW)
Table 48 Canada: Core Materials Market Size, By Type, 2014–2021 (USD Million)
Table 49 Canada: Core Materials Market Size, By Type, 2014–2021 (Kiloton)
Table 50 Europe: Core Materials Market Size, By Country,2014-2021 (USD Million)
Table 51 Europe: Core Materials Market Size, By Country, 2014-2021 (Kiloton)
Table 52 Europe: Core Materials Market Size, By Type, 2014–2021 (USD Million)
Table 53 Europe: Core Materials Market Size, By Type, 2014–2021 (Kiloton)
Table 54 Europe: Core Materials Market Size, By End-Use Industry,2014–2021 (USD Million)
Table 55 Europe: Core Materials Market Size, By End-Use Industry,2014–2021 (Kiloton)
Table 56 Germany: New Wind Energy Installations, 2010-2015, (MW)
Table 57 Germany: Core Materials Market Size, By Type, 2014–2021 (USD Million)
Table 58 Germany: Core Materials Market Size, By Type, 2014–2021 (Kiloton)
Table 59 France: New Wind Energy Installations, 2010-2015, (MW)
Table 60 France: Core Materials Market Size, By Type, 2014–2021 (USD Million)
Table 61 France: Core Materials Market Size, By Type, 2014–2021 (Kiloton)
Table 62 U.K.: New Wind Energy Installations, 2010-2015, (MW)
Table 63 U.K.: Core Materials Market Size, By Type, 2014–2021 (USD Million)
Table 64 U.K.: Core Materials Market Size, By Type, 2014–2021 (Kiloton)
Table 65 Rest of Europe: Core Materials Market Size, By Type,2014–2021 (USD Million)
Table 66 Rest of Europe: Core Materials Market Size, By Type,2014–2021 (Kiloton)
Table 67 Asia-Pacific: Core Materials Market Size, By Country,2014-2021 (USD Million)
Table 68 Asia-Pacific: Core Materials Market Size, By Country,2014-2021 (Kiloton)
Table 69 Asia-Pacific: Core Materials Market Size, By Type,2014–2021 (USD Million)
Table 70 Asia-Pacific: Core Materials Market Size, By Type, 2014–2021 (Kiloton)
Table 71 Asia-Pacific: Core Materials Market Size, By End-Use Industry,2014–2021 (USD Million)
Table 72 Asia-Pacific: Core Materials Market Size, By End-Use Industry,2014–2021 (Kiloton)
Table 73 China: New Wind Energy Installations, 2010-2015, (MW)
Table 74 China: Core Materials Market Size, By Type, 2014–2021 (USD Million)
Table 75 China: Core Materials Market Size, By Type, 2014–2021 (Kiloton)
Table 76 India: New Wind Energy Installations, 2010-2015, (MW)
Table 77 India: Core Materials Market Size, By Type, 2014–2021 (USD Million)
Table 78 India: Core Materials Market Size, By Type, 2014–2021 (Kiloton)
Table 79 Rest of Asia-Pacific: Core Materials Market Size, By Type,2014–2021 (USD Million)
Table 80 Rest of Asia-Pacific: Core Materials Market Size, By Type,2014–2021 (Kiloton)
Table 81 ME&A: New Wind Energy Installations, 2010-2015, (MW)
Table 82 ME&A: Core Materials Market Size, By Country, 2014-2021 (USD Million)
Table 83 ME&A: Core Materials Market Size, By Country, 2014-2021 (Kiloton)
Table 84 ME&A: Core Materials Market Size, By Type, 2014–2021 (USD Million)
Table 85 ME&A: Core Materials Market Size, By Type, 2014–2021 (Kiloton)
Table 86 ME&A: Core Materials Market Size, By End-Use Industry,  2014–2021 (USD Million)
Table 87 ME&A: Core Materials Market Size, By End-Use Industry,2014–2021 (Kiloton)
Table 88 Saudi Arabia: Core Materials Market Size, By Type,2014–2021 (USD Million)
Table 89 Saudi Arabia: Core Materials Market Size, By Type, 2014–2021 (Kiloton)
Table 90 South Africa: Core Materials Market Size, By Type,2014–2021 (USD Million)
Table 91 South Africa: Core Materials Market Size, By Type, 2014–2021 (Kiloton)
Table 92 Rest of ME&A: Core Materials Market Size, By Type,2014–2021 (USD Million)
Table 93 Rest of ME&A: Core Materials Market Size, By Type, 2014–2021 (Kiloton)
Table 94 Latin America: Core Materials Market Size, By Country,2014-2021 (USD Million)
Table 95 Latin America: Core Materials Market Size, By Country,2014-2021 (Kiloton)
Table 96 Latin America: Core Materials Market Size, By Type,2014–2021 (USD Million)
Table 97 Latin America: Core Materials Market Size, By Type, 2014–2021 (Kiloton)
Table 98 Latin America: Core Materials Market Size, By End-Use Industry,2014–2021 (USD Million)
Table 99 Latin America: Core Materials Market Size, By End-Use Industry,2014–2021 (Kiloton)
Table 100 Brazil: New Wind Energy Installations, 2010-2015, (MW)
Table 101 Brazil: Core Materials Market Size, By Type, 2014–2021 (USD Million)
Table 102 Brazil: Core Materials Market Size, By Type, 2014–2021 (Kiloton)
Table 103 Mexico: New Wind Energy Installations, 2010-2015, (MW)
Table 104 Mexico: Core Materials Market Size, By Type, 2014–2021 (USD Million)
Table 105 Mexico: Core Materials Market Size, By Type, 2014–2021 (Kiloton)
Table 106 Rest of Latin America: Core Materials Market Size, By Type,2014–2021 (USD Million)
Table 107 Rest of Latin America: Core Materials Market Size, By Type,2014–2021 (Kiloton)
Table 108 Agreements, Partnerships & Joint Ventures, 2011–2016
Table 109 Expansions, 2011–2016
Table 110 New Product & Technology Launches, 2011–2016
Table 111 Mergers & Acquisitions
 
 
List of Figures (69 Figures)
 
Figure 1 Core Materials: Market Segmentation
Figure 2 Core Materials Market: Research Design
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Market Breakdown and Data Triangulation
Figure 6 Foam Core to Witness the Highest Growth in the Core Materials Market, 2016–2021
Figure 7 Aerospace to Dominate the Core Materials Market, By End-Use Industry
Figure 8 Core Materials Market Ranking, By Country, 2015
Figure 9 Asia-Pacific to Be the Fastest-Growing Market for Core Materials
Figure 10 Attractive Opportunities in the Core Materials Market
Figure 11 Foam to Be the Fastest-Growing Type in the Core Materials Market
Figure 12 North America Dominates the Core Materials Market, 2015
Figure 13 U.S. Commands Major Share in the Core Materials Market
Figure 14 U.S. is the Largest Region in the Core Materials Market
Figure 15 Aerospace Application to Account for the Largest Market Size
Figure 16 Drivers, Restraints, Opportunities, and Challenges of the Core Materials Market
Figure 17 Annual Wind Energy Capacity Installations in U.S. (MW)
Figure 18 Aerospace is the Largest End-Use Industry of Core Materials in North America
Figure 19 Wind Energy to Be the Fastest-Growing End-Use Industry in the European Core Materials Market
Figure 20 Wind Energy is the Largest End-Use Industry of Core Materials Market in Asia-Pacific
Figure 21 Wind Energy to Dominate the Core Materials Market in ME&A
Figure 22 Aerospace to Be Second Fastest-Growing End-Use Industry in Core Materials Market in Latin America
Figure 23 Overview of the Core Materials Value Chain
Figure 24 Porter’s Five Forces Analysis of the Core Materials Market
Figure 25 Core Materials Market Patent Analysis, By Country, 2011–2015
Figure 26 Core Materials Market Patent Analysis, By Type, 2011–2015
Figure 27 Trends and Forecast of GDP, USD Billion (2016–2021)
Figure 28 Per Capita GDP vs. Per Capita Core Materials Demand
Figure 29 Trends and Forecast of Construction Industry in North America, USD Billion, 2015 vs. 2021
Figure 30 Trends and Forecast of Construction Industry in Europe, USD Billion, 2015 vs. 2021
Figure 31 Trends and Forecast of Construction Industry in Asia-Pacific, USD Billion, 2015 vs. 2021
Figure 32 Trends and Forecast of Construction Industry in ME&A,USD Billion, (2015 vs. 2021)
Figure 33 Trends and Forecast of Construction Industry in Latin America, USD Billion, 2015 vs. 2021)
Figure 34 Wind Energy Installed Capacity, MW (2014-2015)
Figure 35 Trends of New Airplanes, By Region, 2014
Figure 36 Trends of Automotive Industry, Thousand Units (2015)
Figure 37 Types of Core Materials
Figure 38 Foam to Be the Fastest-Growing Type in the Core Materials Market
Figure 39 PVC to Be the Largest Segment While PET to Be the Fastest-Growing Segment in the Foam Core Materials Market
Figure 40 Asia-Pacific to Be the Fastest-Growing Region in the Foam Core Materials Market
Figure 41 North America to Dominate the Honeycomb Core Materials Market
Figure 42 Asia-Pacific Accounts for the Largest Share in the Balsa Core Materials Market
Figure 43 Aerospace to Be the Largest and Wind Energy the Fastest-Growing End-Use Industries
Figure 44 North America Dominated the Aerospace Industry in Core Materials Market
Figure 45 Asia-Pacific Accounts for the Major Share in the Wind Energy Core Materials Market
Figure 46 Europe Leads the Transportation End-Use Industry in the Core Materials Market
Figure 47 Asia-Pacific is the Fastest-Growing Region in the Core Materials Market in the Construction Industry
Figure 48 Brazil is Expected to Drive the Core Materials Market (2016–2021)
Figure 49 U.S. is the Most Lucrative Market in North America
Figure 50 Germany is the Fastest-Growing Market in Europe
Figure 51 China is the Key Core Materials Market in Asia-Pacific (2016-2021)
Figure 52 Wind Energy is Projected to Be the Fastest-Growing End-Use Industry for Core Materials in ME&A (2016-2021)
Figure 53 Aerospace is Projected to Be the Second Fastest-Growing End-Use Industry in Latin America (2016-2021)
Figure 54 Agreements, Partnerships & Joint Ventures is the Most Preferred Growth Strategy Adopted By Major Players Between 2011 and 2016
Figure 55 Maximum Number of Developments Witnessed in 2015
Figure 56 Growth Strategies Adopted By Market Players in Core Materials Market, 2011–2016
Figure 57 Regional Revenue Mix of Key Market Players
Figure 58 Diab Group: Business Overview
Figure 59 Diab Group: SWOT Analysis
Figure 60 Hexcel Corporation: Business Overview
Figure 61 Hexcel Corporation: SWOT Analysis
Figure 62 3A Composites: Business Overview
Figure 63 3A Composites: SWOT Analysis
Figure 64 Euro-Composites S.A.: SWOT Analysis
Figure 65 Gurit Holding AG: Business Overview
Figure 66 Gurit Holding AG: SWOT Analysis
Figure 67 Changzhou Tiansheng New Materials Co. Ltd: Business Overview
Figure 68 Armacell International S.A.: Business Overview
Figure 69 Evonik Industries: Business Overview

The global market size of core materials, in terms of value, is projected to reach USD 1.72 Billion by 2021, registering a CAGR of 8.60% between 2016 and 2021. The increasing number of patents filed for core materials by global players, growing manufacturing industries, and continuous agreements, partnerships, & joint ventures, expansions, new product & technology launches, and mergers & acquisitions activities undertaken by various companies are key factors for the growth of the global core materials market for composites.

The foam core segment is expected to be the fastest-growing core type in the core materials market for composites. Foam core imparts strength and stiffness while keeping the composite structure lightweight. The rapid growth of the wind energy industry, wind turbine blade manufacturing, and the emergence of China and other Asian countries as major wind energy producers are boosting the consumption of foam core and are driving the core materials market for composites at a significant pace.

The wind energy industry is projected to be the fastest-growing end-use industry in the core materials market for composites between 2016 and 2021. This is attributed to the use of composites in the designing of blades for large wind turbines. These blades are made by combining core materials and glass reinforced polyester/epoxy. The renewal of Production Tax Credit (PTC) has helped the wind energy market to grow since last year, helping the core materials market for composites to grow. The wind energy market is estimated to grow in the future because of the rising demand for clean energy across the globe.

The Asia-Pacific region, being the largest market for core materials, is projected to register the highest CAGR, in terms of value, between 2016 and 2021. This growth is mainly due to rising demand for superior performance materials and environmentally friendly products from wind energy and aerospace industries and increasing expansion and other development strategies in the region. Contributions of various research organizations toward research & development of composites and enhancement of its commercialization are also some of the key growth factors for the market in Asia-Pacific.

Core Materials Market for Composites

The core materials market for composites is rapidly gaining importance though a few factors act as bottlenecks toward its growth. The capital intensive nature of the industry and the uncertain wind energy market in the U.S. are some of the major restraints toward the growth of the core materials market for composites.

Diab Group is one of the major manufacturers of core materials. It emphasizes on excellence in consumer centric product creation and focuses mainly on new product launches, agreements, partnerships, and expansions as their key growth strategies. The company is involved in continuous improvements in several business areas by maintaining its focus. It follows strategic moves to sustain its position as a market leader.

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