Core Materials Market

Core Materials Market by Type (Foam, Balsa, and Honeycomb), End- use Industry (Wind Energy, Marine, Aerospace & Defense, Automotive & Transportation, Construction & Industrial), and Region - Global Forecast to 2028

Report Code: CH 3159 Mar, 2024, by marketsandmarkets.com

The global core materials market is expected to witness a CAGR of 13.5% between 2023 to 2028. The market size of core materials market is estimated to be USD 1.6 billion in 2023 and is projected to reach USD 3.0 billion by the end of 2028. Sandwich composite systems require core materials because they provide a special blend of stiffness, strength, and lightweight characteristics. Core materials are widely being used in industries like aerospace, wind energy, marine, automotive, construction, and industrial manufacturing as sustainability becomes more and more important. This increase in demand is being driven by the growth of infrastructure, the expansion of renewable energy sources, and technological improvements. Core materials are becoming more and more important in helping businesses fulfill these changing objectives as they look for creative ways to improve performance and efficiency while lowering their environmental effect.

Attractive Opportunities in the Core Materials Market

Core Materials Market

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Core Materials Market

Global Core Material Market Dynamics:

Drivers: Demand for core materials in wind turbine blades and solar panels

One major factor propelling the core materials market is the increasing need for these materials in the manufacturing of solar panels and wind turbines. Wind and solar power are becoming more and more essential parts of the world's energy mix as it moves toward renewable energy sources. Both solar panels and wind turbine blades depend heavily on core materials, which offer strength, insulation, and structural support while keeping a thin profile. Core materials are necessary in the wind energy industry to build rotor blades that can endure severe weather and optimize energy collection efficiency. Similar to this, core materials are used in the construction of photovoltaic panels in the solar energy industry to improve efficiency and durability. The demand for core materials is anticipated to increase due to the rapid expansion of wind and solar energy installations worldwide, which is being driven by government incentives and environmental concerns. The importance of core materials in developing renewable energy technologies and addressing the issues of a sustainable future is highlighted by this expanding need.

Restraints: Difficulty in recycling core materials

Core materials are widely used in many different industries, including as the automotive, marine, and aerospace industries. Made up of various constituents, including metals, polymers, and thermoplastics like PVC foam or aramid fiber, these materials are combined to accomplish functionalities. However, the combination of materials with different properties makes it difficult to separate and recycle individual components, which makes recycling composite constructions a difficulty. Furthermore, to form structural components, core materials are frequently laminated or bonded with additional materials using adhesives or resins. This requires the removal of bonding agents, which further complicates the recycling process. The complexity of the recycling process reduces the quality of recovered materials in addition to making it difficult to differentiate essential components from unnecessary ones. As a result, recycling core materials is time-consuming and can be expensive. This limits market potential since end-use industries may choose less expensive and recyclable solutions over more costly and non-recyclable ones.

Opportunities: Growing demand for core materials in medical industry and 3D printing

Durability and good shock absorption capacity are key requirements for lightweight materials used in the sports and medical equipment industries. It is anticipated that as these industries push for innovation while prioritizing performance, safety, and comfort, the need for core materials will rise. Core materials, such as foams, honeycomb structures, and composite materials, provide lightweight building alternatives without sacrificing structural integrity. Lightweight materials are useful in medical applications where comfort and mobility are critical, such as in orthotics, prostheses, and medical equipment. Similar to this, lightweight materials improve performance and lessen athlete fatigue in the sports equipment sector. Core materials are especially well-suited for applications that call for protection against impacts or vibrations, such medical padding, prosthetic limbs, and orthopedic braces that are intended to lessen patient suffering and absorb shocks. This is because of their remarkable shock absorption and impact resistance. Furthermore, core materials are essential to the sports equipment industry because they reduce the chance of damage during sports by offering protection and cushioning in the form of padding, boots, and helmets.

Challenges: Developing low-cost technologies

The affordability of core materials plays a critical role in their adoption across various structural applications. Core materials offer a lot of potential, but it hasn't been fully realized yet. This is mostly because of the high costs of manufacturing, R&D, and longer cycle times. Although there are many known uses in the aerospace, railroad, maritime, and automotive industries, the usage of core materials in a number of other end-use sectors is currently being explored because of financial limitations. The costs associated with developing core materials are frequently high, making the process extremely difficult. Therefore, developing affordable technologies that can enable the use of core materials in sectors where cost concerns are important is the main problem. For instance, Nomex Honeycomb shows promise for a number of uses, but because development is expensive, commercializing these possibilities has not yet been thoroughly investigated.

Core Material Market: Ecosystem

Core Materials Market Ecosystem

The foam core material type segment accounted for the largest share in core materials market, in terms of value and volume.

With the greatest market share compared to its competitors, foam core material leads the core material industry. Foam core material is preferred in many industries due to its cost-effectiveness, durability, and adaptability. In sandwich composite constructions, its ability to offer thickness and high rigidity with little density makes it indispensable. Different varieties of foam, such as PET, PVC, SAN, PMI, and PEI, provide customized solutions to fulfill specific application requirements within this market segment. Foam core material is widely used in applications, such as wind energy blades, wind turbines, nacelles, aerospace interior components, boat hulls, and others. The demand of foam core coming from wind energy sector is the major reason for the high demand of foam core compared to honeycomb and balsa.

The wind energy end-use industry is expected to be the fastest growing industry during the forecast period.

Wind energy stands out as the fastest-growing end-use industry in the core materials market. Wind power becomes increasingly important in creating a sustainable energy environment as the world moves more and more toward renewable energy sources. When creating wind turbine blades, core materials are critical because they give the blades the strength, rigidity, and lightweight qualities that are necessary for maximum performance and longevity. At the same time, governments all over the world are passing laws to encourage the use of renewable energy sources and solve climate change issues, which is driving up investments in wind energy infrastructure. The demand for core materials will undoubtedly increase due to this surge in interest in wind energy installations. As a result, the wind energy industry drives significant expansion in the core materials market, forcing suppliers and manufacturers to meet the rising need for high-performance materials suited to the particular needs of wind energy applications.

Asia Pacific is the largest and the fastest growing regional market during the forecasted period.

Driven by the impressive growth of the wind energy sector, the Asia Pacific region becomes the largest and fastest-growing market in the core materials sector during the projected period. The Asia Pacific area is leading the way in this shift as the world moves more and more toward renewable energy sources, especially wind power. The demand for core materials is rising significantly as a result of the region's governments putting ambitious renewable energy objectives into action and making large investments in wind energy infrastructure. The number of wind farms in China, India, and Japan is increasing, and with it is the demand for core materials for wind turbine blades and related parts. The strong expansion of the wind energy industry has resulted in a corresponding rise in the need for core materials, highlighting the crucial role played by the Asia Pacific region in propelling the core materials market's growth. As the need for high-performance core materials customized to the unique needs of the quickly growing wind energy industry grows, manufacturers and suppliers in the Asia Pacific region are putting more and more effort into meeting this demand, solidifying the region's standing as a major player in the global core materials market.

Increasing number of wind energy installations to boost the market

Accelerating the adoption of renewable energy sources is crucial as the world's capacity to use fossil fuels shrinks. One important renewable energy source that propels the growth of the core material market is wind energy. Wind turbines rely heavily on core materials because they provide outstanding fatigue and corrosion resistance, as well as strengthening the blades. By 2035, renewable energy is expected to generate over 25% of the world's electricity, with wind energy making up a sizable amount of this share, according to the Global Wind Energy Council (GWEC). Due to its affordability in terms of boosting system capacity and lowering CO2 emissions, wind energy is becoming a more and more popular choice for power generation. For example, by 2030, the US government hopes to generate 30 GW of offshore wind energy, which would be enough to power 10 million households sustainably and encourage supply chain investment.

Core Materials Market by Region

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Core Materials Market Players

Prominent companies in the global core materials market are Diab Group (Sweden), Hexcel Corporation (US), 3A Composites (Switzerland), Euro-Composites S.A. (Luxembourg), Gurit Holding AG (Switzerland), The Gill Corporation (US), Changzhou Tiansheng New Materials Co. Ltd. (China), Plascore Incorporated (US), Armacell International S.A. (Luxembourg), and Evonik Industries AG (Germany). These companies are attempting to establish themselves in the core material market by employing a range of inorganic and organic approaches. The study includes a thorough competitive analysis of these key players in the core materials market, with their company profiles, recent developments, and key market strategies.

Read More: Core Materials Companies

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Scope of the Report

Report Metric

Details

Years considered for the study

2020–2028

Base year

2022

Forecast period

2023–2028

Units considered

Value (USD Million), Volume (Kiloton)

Segments

By Type, End-use Industry, and Region

Regions

Europe, North America, APAC, and RoW

Companies

3A Composites (Switzerland), Diab Group (Sweden), Gurit (Switzerland), Hexcel Corporation (US), Armacell International S.A. (Luxembourg), Euro-Composites S.A. (Luxembourg), Changzhou Tiansheng New Materials Co. Ltd. (China), and The Gill Corporation (US).

This research report categorizes the core materials market based on type, end-use industry, and region.

By Type:
  • Foam
  • Honeycomb
  • Balsa
By End-use Industry:
  • Wind Energy
  • Aerospace & Defense
  • Marine
  • Automotive & Transportation
  • Construction
  • Industrial
  • Others (sporting goods and healthcare)
By Region:
  • North America
  • Europe
  • APAC
  • RoW

Recent Developments

  • In January 2024, Gurit launched two different products. One is Gurit Kerdyn FR+, It is a PET recycled structural foam with Class C – EN13501 test and certification. It has good compressive strength and stiffness and the other one is Balsaflex Lite,  which is a next-generation balsa, and PET core material with a novel coating system that reduces resin uptake during infusion processes.
  • In October 2023, Gurit announced major long-term supply contracts with two leading OEMs, expected to generate substantial net sales over the contract periods.
  • In June 2022, Korean Aerospace Industries (KAI) signed a New Long-Term Contract with The Gill Corporation. The Gill Corporation will supply non-metallic honeycomb products from the El Monte division and metallic honeycomb products from the Maryland division.
  • In May 2022, 3A Composites Core Materials acquired SOLVAY’s TegraCore PPSU resin-based foam, which became part of the portfolio under AIREX TegraCore. Both companies agreed to continue their collaboration to further develop AIREX TegraCore.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 36)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
    1.3 STUDY SCOPE 
           1.3.1 INCLUSIONS & EXCLUSIONS
                    FIGURE 1 CORE MATERIAL MARKET SEGMENTATION
           1.3.2 REGIONS COVERED
           1.3.3 YEARS CONSIDERED
    1.4 CURRENCY CONSIDERED 
    1.5 UNITS CONSIDERED 
    1.6 LIMITATIONS 
    1.7 STAKEHOLDERS 
    1.8 SUMMARY OF CHANGES 
 
2 RESEARCH METHODOLOGY (Page No. - 40)
    2.1 RESEARCH DATA 
          FIGURE 2 CORE MATERIAL MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key data from primary sources
                    2.1.2.2 Key primary participants
                    2.1.2.3 Breakdown of interviews with experts
                    2.1.2.4 Key industry insights
    2.2 RECESSION IMPACT 
    2.3 MARKET SIZE ESTIMATION 
           2.3.1 BOTTOM-UP APPROACH
                    FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
           2.3.2 TOP-DOWN APPROACH
                    FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
    2.4 BASE NUMBER CALCULATION 
           2.4.1 APPROACH 1: SUPPLY-SIDE ANALYSIS
                    FIGURE 5 METHODOLOGY FOR SUPPLY-SIDE SIZING OF CORE MATERIAL MARKET
           2.4.2 APPROACH 2: DEMAND-SIDE ANALYSIS
                    FIGURE 6 METHODOLOGY FOR DEMAND-SIDE SIZING OF CORE MATERIAL MARKET
    2.5 MARKET FORECAST 
           2.5.1 SUPPLY SIDE
           2.5.2 DEMAND SIDE
    2.6 DATA TRIANGULATION 
          FIGURE 7 CORE MATERIAL MARKET: DATA TRIANGULATION
    2.7 FACTOR ANALYSIS 
    2.8 RESEARCH ASSUMPTIONS 
    2.9 RESEARCH LIMITATIONS 
 
3 EXECUTIVE SUMMARY (Page No. - 50)
    FIGURE 8 WIND ENERGY INDUSTRY DOMINATED MARKET IN 2022
    FIGURE 9 FOAM SEGMENT ACCOUNTED FOR LARGEST SHARE IN 2022
    FIGURE 10 ASIA PACIFIC TO RECORD FASTEST GROWTH DURING FORECAST PERIOD
 
4 PREMIUM INSIGHTS (Page No. - 53)
    4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN CORE MATERIAL MARKET 
          FIGURE 11 SIGNIFICANT GROWTH EXPECTED IN CORE MATERIAL MARKET BETWEEN 2023 AND 2028
    4.2 CORE MATERIAL MARKET, BY TYPE 
          FIGURE 12 FOAM TYPE DOMINATED MARKET IN 2022
    4.3 CORE MATERIALS MARKET, BY END-USE INDUSTRY AND REGION 
          FIGURE 13 ASIA PACIFIC AND WIND ENERGY DOMINATED MARKET IN 2022
    4.4 CORE MATERIAL MARKET, BY KEY COUNTRY 
          FIGURE 14 CHINA TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
 
5 MARKET OVERVIEW (Page No. - 56)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
          FIGURE 15 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN CORE MATERIAL MARKET
           5.2.1 DRIVERS
                    5.2.1.1 Increasing demand for core materials in aerospace sector
                                FIGURE 16 DELIVERY OF TOP CORE MATERIAL UTILIZING BOEING PLANES, 2022–2024
                    5.2.1.2 Imperative to improve fuel efficiency
                    5.2.1.3 Need for end-use industries to lower carbon emissions
                    5.2.1.4 Rising demand for core materials in wind turbine blades and solar panels
           5.2.2 RESTRAINTS
                    5.2.2.1 High cost of materials in end-use industries
                    5.2.2.2 Difficulty in recycling core materials
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Pressing need for core materials in medical industry and 3D printing
                    5.2.3.2 Evolving industrial requirements
           5.2.4 CHALLENGES
                    5.2.4.1 Development of low-cost technologies
    5.3 PORTER’S FIVE FORCES ANALYSIS 
          FIGURE 17 CORE MATERIAL MARKET: PORTER’S FIVE FORCES ANALYSIS
           5.3.1 THREAT OF NEW ENTRANTS
           5.3.2 THREAT OF SUBSTITUTES
           5.3.3 BARGAINING POWER OF SUPPLIERS
           5.3.4 BARGAINING POWER OF BUYERS
           5.3.5 INTENSITY OF COMPETITIVE RIVALRY
                    TABLE 1 CORE MATERIALS MARKET: PORTER’S FIVE FORCES ANALYSIS
    5.4 ECOSYSTEM ANALYSIS 
          FIGURE 18 CORE MATERIAL MARKET: ECOSYSTEM
    5.5 PRICING ANALYSIS 
           5.5.1 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY END-USE INDUSTRY
                    FIGURE 19 AVERAGE SELLING PRICES OF CORE MATERIALS OFFERED BY KEY PLAYERS FOR TOP THREE END-USE INDUSTRIES (USD/KG)
           5.5.2 AVERAGE SELLING PRICE TREND, BY TYPE
                    FIGURE 20 AVERAGE SELLING PRICE OF CORE MATERIALS, BY TYPE
                    TABLE 2 AVERAGE SELLING PRICE OF CORE MATERIALS, BY TYPE
           5.5.3 AVERAGE SELLING PRICE TREND, BY REGION
                    TABLE 3 AVERAGE SELLING PRICE OF CORE MATERIALS, BY REGION
    5.6 TRADE ANALYSIS 
           5.6.1 EXPORT SCENARIO FOR HS CODE 761699
                    FIGURE 21 EXPORT FOR HS CODE 761699, BY KEY COUNTRY, 2018–2022 (USD THOUSAND)
                    TABLE 4 TOP 10 EXPORTING COUNTRIES FOR HS CODE 761699 IN 2022
           5.6.2 IMPORT SCENARIO FOR HS CODE 761699
                    FIGURE 22 IMPORT FOR HS CODE 761699, BY KEY COUNTRY, 2018–2022 (USD THOUSAND)
                    TABLE 5 TOP 10 IMPORTING COUNTRIES FOR HS CODE 761699 IN 2022
           5.6.3 EXPORT SCENARIO FOR HS CODE 392690
                    FIGURE 23 EXPORT FOR HS CODE 392690, BY KEY COUNTRY, 2018–2022 (USD THOUSAND)
                    TABLE 6 TOP 10 EXPORTING COUNTRIES FOR HS CODE 392690 IN 2022
           5.6.4 IMPORT SCENARIO FOR HS CODE 392690
                    FIGURE 24 IMPORT FOR HS CODE 392690, BY KEY COUNTRY, 2018–2022 (USD THOUSAND)
                    TABLE 7 TOP 10 IMPORTING COUNTRIES FOR HS CODE 392690 IN 2022
    5.7 SUPPLY CHAIN ANALYSIS 
           5.7.1 RAW MATERIALS
                    FIGURE 25 LEADING CORE MATERIAL RAW MATERIAL MANUFACTURERS AND SUPPLIERS
           5.7.2 PRODUCT MANUFACTURERS
                    FIGURE 26 LEADING PRODUCT MANUFACTURERS
           5.7.3 END USERS
                    FIGURE 27 MAJOR END USERS OF CORE MATERIALS
    5.8 VALUE CHAIN ANALYSIS 
          FIGURE 28 CORE MATERIAL MARKET: VALUE CHAIN ANALYSIS
    5.9 DISTRIBUTION CHANNEL 
    5.10 TECHNOLOGY ANALYSIS 
           5.10.1 KEY TECHNOLOGY
                    5.10.1.1 Foam core material manufacturing process
           5.10.2 COMPLEMENTARY TECHNOLOGY
                    5.10.2.1 Honeycomb and balsa core material manufacturing process
    5.11 KEY STAKEHOLDERS & BUYING CRITERIA 
           5.11.1 KEY STAKEHOLDERS IN BUYING PROCESS
                     FIGURE 29 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END-USE INDUSTRIES
                     TABLE 8 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END-USE INDUSTRIES
           5.11.2 BUYING CRITERIA
                     FIGURE 30 KEY BUYING CRITERIA FOR TOP THREE END-USE INDUSTRIES
                     TABLE 9 KEY BUYING CRITERIA FOR TOP THREE END-USE INDUSTRIES
    5.12 PATENT ANALYSIS 
           5.12.1 INTRODUCTION
           5.12.2 METHODOLOGY
           5.12.3 DOCUMENT TYPES
                     TABLE 10 CORE MATERIAL MARKET: GLOBAL PATENTS
                     FIGURE 31 GLOBAL PATENT ANALYSIS, BY DOCUMENT TYPE
                     FIGURE 32 GLOBAL PATENT PUBLICATION TREND ANALYSIS IN LAST 10 YEARS
           5.12.4 INSIGHTS
           5.12.5 LEGAL STATUS
                     FIGURE 33 CORE MATERIAL MARKET: LEGAL STATUS OF PATENTS
           5.12.6 JURISDICTION ANALYSIS
                     FIGURE 34 GLOBAL JURISDICTION ANALYSIS
           5.12.7 TOP APPLICANTS
                     FIGURE 35 TOP PATENT APPLICANT COMPANIES
           5.12.8 PATENTS BY UACJ CORPORATION
           5.12.9 PATENTS BY NIPPON MICROMETAL CORPORATION
                    5.12.10 PATENTS BY NIPPON STEEL CHEMICAL & MATERIAL CO. LTD.
                    5.12.11 TOP 10 PATENT OWNERS (US) IN LAST 10 YEARS
    5.13 REGULATORY LANDSCAPE 
           5.13.1 REGULATIONS IN CORE MATERIALS MARKET
           5.13.2 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                     TABLE 11 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                     TABLE 12 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                     TABLE 13 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                     TABLE 14 REST OF WORLD: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
    5.14 KEY CONFERENCES & EVENTS IN 2024–2025 
           TABLE 15 CORE MATERIAL MARKET: CONFERENCES & EVENTS, 2024–2025
    5.15 CASE STUDY ANALYSIS 
    5.16 TRENDS/DISRUPTIONS IMPACTING CUSTOMER’S BUSINESS 
           FIGURE 36 REVENUE SHIFT OF CORE MATERIALS
    5.17 INVESTMENT AND FUNDING SCENARIO 
           FIGURE 37 INVESTOR DEALS AND FUNDING IN CORE MATERIALS
           FIGURE 38 KEY CORE MATERIAL MANUFACTURERS IN 2024 (USD BILLION)
 
6 CORE MATERIAL MARKET, BY TYPE (Page No. - 88)
    6.1 INTRODUCTION 
          FIGURE 39 FOAM TYPE TO DOMINATE CORE MATERIAL MARKET DURING FORECAST PERIOD
          TABLE 16 CORE MATERIALS MARKET, BY TYPE, 2020–2022 (USD MILLION)
          TABLE 17 CORE MATERIAL MARKET, BY TYPE, 2020–2022 (KILOTON)
          TABLE 18 CORE MATERIALS MARKET, BY TYPE, 2023–2028 (USD MILLION)
          TABLE 19 CORE MATERIAL MARKET, BY TYPE, 2023–2028 (KILOTON)
    6.2 FOAM 
           6.2.1 INCREASING DEMAND IN WIND ENERGY BLADES AND TURBINES TO DRIVE MARKET
                    FIGURE 40 ASIA PACIFIC TO BE LARGEST FOAM MARKET DURING FORECAST PERIOD
                    TABLE 20 FOAM: CORE MATERIALS MARKET, BY REGION, 2020–2022 (USD MILLION)
                    TABLE 21 FOAM: CORE MATERIAL MARKET, BY REGION, 2020–2022 (KILOTON)
                    TABLE 22 FOAM: MARKET, BY REGION, 2023–2028 (USD MILLION)
                    TABLE 23 FOAM: MARKET, BY REGION, 2023–2028 (KILOTON)
                    TABLE 24 FOAM: MARKET, BY FOAM TYPE, 2020–2022 (USD MILLION)
                    TABLE 25 FOAM: MARKET, BY FOAM TYPE, 2020–2022 (KILOTON)
                    TABLE 26 FOAM: MARKET, BY FOAM TYPE, 2023–2028 (USD MILLION)
                    TABLE 27 FOAM: MARKET, BY FOAM TYPE, 2023–2028 (KILOTON)
           6.2.2 PET FOAM
                    TABLE 28 PET FOAM: CORE MATERIALS MARKET, BY REGION, 2020–2022 (USD MILLION)
                    TABLE 29 PET FOAM: MARKET, BY REGION, 2020–2022 (KILOTON)
                    TABLE 30 PET FOAM: MARKET, BY REGION, 2023–2028 (USD MILLION)
                    TABLE 31 PET FOAM: MARKET, BY REGION, 2023–2028 (KILOTON)
           6.2.3 PVC FOAM
                    TABLE 32 PVC FOAM: CORE MATERIALS MARKET, BY REGION, 2020–2022 (USD MILLION)
                    TABLE 33 PVC FOAM: CORE MATERIAL MARKET, BY REGION, 2020–2022 (KILOTON)
                    TABLE 34 PVC FOAM: MARKET, BY REGION, 2023–2028 (USD MILLION)
                    TABLE 35 PVC FOAM: MARKET, BY REGION, 2023–2028 (KILOTON)
           6.2.4 SAN FOAM
                    TABLE 36 SAN FOAM: CORE MATERIALS MARKET, BY REGION, 2020–2022 (USD MILLION)
                    TABLE 37 SAN FOAM: CORE MATERIAL MARKET, BY REGION, 2020–2022 (KILOTON)
                    TABLE 38 SAN FOAM: MARKET, BY REGION, 2023–2028 (USD MILLION)
                    TABLE 39 SAN FOAM: MARKET, BY REGION, 2023–2028 (KILOTON)
           6.2.5 PMI FOAM
                    TABLE 40 PMI FOAM: CORE MATERIALS MARKET, BY REGION, 2020–2022 (USD MILLION)
                    TABLE 41 PMI FOAM: CORE MATERIAL MARKET, BY REGION, 2020–2022 (KILOTON)
                    TABLE 42 PMI FOAM: MARKET, BY REGION, 2023–2028 (USD MILLION)
                    TABLE 43 PMI FOAM: MARKET, BY REGION, 2023–2028 (KILOTON)
           6.2.6 PEI FOAM
                    TABLE 44 PEI FOAM: CORE MATERIALS MARKET, BY REGION, 2020–2022 (USD MILLION)
                    TABLE 45 PEI FOAM: CORE MATERIAL MARKET, BY REGION, 2020–2022 (KILOTON)
                    TABLE 46 PEI FOAM: MARKET, BY REGION, 2023–2028 (USD MILLION)
                    TABLE 47 PEI FOAM: MARKET, BY REGION, 2023–2028 (KILOTON)
           6.2.7 OTHER FOAMS
                    TABLE 48 OTHER FOAMS: CORE MATERIALS MARKET, BY REGION, 2020–2022 (USD MILLION)
                    TABLE 49 OTHER FOAMS: CORE MATERIAL MARKET, BY REGION, 2020–2022 (KILOTON)
                    TABLE 50 OTHER FOAMS: MARKET, BY REGION, 2023–2028 (USD MILLION)
                    TABLE 51 OTHER FOAMS: MARKET, BY REGION, 2023–2028 (KILOTON)
    6.3 HONEYCOMB 
           6.3.1 WIDE APPLICATIONS IN AEROSPACE SECTOR TO BOOST MARKET
                    FIGURE 41 ASIA PACIFIC TO RECORD FASTEST GROWTH DURING FORECAST PERIOD
           6.3.2 ALUMINUM
           6.3.3 ARAMID
           6.3.4 THERMOPLASTIC
                    TABLE 52 HONEYCOMB: CORE MATERIALS MARKET, BY TYPE, 2020–2022 (USD MILLION)
                    TABLE 53 HONEYCOMB: CORE MATERIAL MARKET, BY TYPE, 2020–2022 (KILOTON)
                    TABLE 54 HONEYCOMB: MARKET, BY TYPE, 2023–2028 (USD MILLION)
                    TABLE 55 HONEYCOMB: MARKET, BY TYPE, 2023–2028 (KILOTON)
                    TABLE 56 HONEYCOMB: MARKET, BY REGION, 2020–2022 (USD MILLION)
                    TABLE 57 HONEYCOMB: MARKET, BY REGION, 2020–2022 (KILOTON)
                    TABLE 58 HONEYCOMB: MARKET, BY REGION, 2023–2028 (USD MILLION)
                    TABLE 59 HONEYCOMB: MARKET, BY REGION, 2023–2028 (KILOTON)
    6.4 BALSA 
           6.4.1 INCREASING USE IN MARINE AND TRANSPORTATION INDUSTRIES TO DRIVE MARKET
                    FIGURE 42 ASIA PACIFIC TO BE FASTEST-GROWING BALSA MARKET DURING FORECAST PERIOD
                    TABLE 60 BALSA: CORE MATERIALS MARKET, BY REGION, 2020–2022 (USD MILLION)
                    TABLE 61 BALSA: CORE MATERIAL MARKET, BY REGION, 2020–2022 (KILOTON)
                    TABLE 62 BALSA: MARKET, BY REGION, 2023–2028 (USD MILLION)
                    TABLE 63 BALSA: MARKET, BY REGION, 2023–2028 (KILOTON)
 
7 CORE MATERIAL MARKET, BY END-USE INDUSTRY (Page No. - 110)
    7.1 INTRODUCTION 
          FIGURE 43 WIND ENERGY TO BE FASTEST-GROWING END-USE INDUSTRY DURING FORECAST PERIOD
          TABLE 64 CORE MATERIALS MARKET, BY END-USE INDUSTRY, 2020–2022 (USD MILLION)
          TABLE 65 CORE MATERIAL MARKET, BY END-USE INDUSTRY, 2020–2022 (KILOTON)
          TABLE 66 MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
          TABLE 67 MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)
    7.2 WIND ENERGY 
           7.2.1 INCREASING DEMAND FOR BALSA TO DRIVE MARKET
                    FIGURE 44 ASIA PACIFIC TO LEAD GLOBAL CORE MATERIALS MARKET IN WIND ENERGY SEGMENT
                    TABLE 68 WIND ENERGY: CORE MATERIAL MARKET, BY REGION, 2020–2022 (USD MILLION)
                    TABLE 69 WIND ENERGY: MARKET, BY REGION, 2020–2022 (KILOTON)
                    TABLE 70 WIND ENERGY: MARKET, BY REGION, 2023–2028 (USD MILLION)
                    TABLE 71 WIND ENERGY: CORE MATERIAL MARKET, BY REGION, 2023–2028 (KILOTON)
    7.3 AEROSPACE & DEFENSE 
           7.3.1 RISING DEMAND FOR HONEYCOMB MATERIAL TO BOOST MARKET
                    TABLE 72 AEROSPACE & DEFENSE: CORE MATERIALS MARKET, BY REGION, 2020–2022 (USD MILLION)
                    TABLE 73 AEROSPACE & DEFENSE: CORE MATERIAL MARKET, BY REGION, 2020–2022 (KILOTON)
                    TABLE 74 AEROSPACE & DEFENSE: MARKET, BY REGION, 2023–2028 (USD MILLION)
                    TABLE 75 AEROSPACE & DEFENSE: MARKET, BY REGION, 2023–2028 (KILOTON)
    7.4 MARINE 
           7.4.1 WIDE DEPLOYMENT OF PVC FOAM IN MARINE INDUSTRY TO DRIVE MARKET
                    TABLE 76 MARINE INDUSTRY: CORE MATERIALS MARKET, BY REGION, 2020–2022 (USD MILLION)
                    TABLE 77 MARINE INDUSTRY: CORE MATERIAL MARKET, BY REGION, 2020–2022 (KILOTON)
                    TABLE 78 MARINE INDUSTRY: MARKET, BY REGION, 2023–2028 (USD MILLION)
                    TABLE 79 MARINE INDUSTRY: MARKET, BY REGION, 2023–2028 (KILOTON)
    7.5 AUTOMOTIVE & TRANSPORTATION 
           7.5.1 PRESSING NEED FOR LIGHTWEIGHT FOAMS TO BOOST MARKET
                    TABLE 80 AUTOMOTIVE & TRANSPORTATION: CORE MATERIALS MARKET, BY REGION, 2020–2022 (USD MILLION)
                    TABLE 81 AUTOMOTIVE & TRANSPORTATION: CORE MATERIAL MARKET, BY REGION, 2020–2022 (KILOTON)
                    TABLE 82 AUTOMOTIVE & TRANSPORTATION: MARKET, BY REGION, 2023–2028 (USD MILLION)
                    TABLE 83 AUTOMOTIVE & TRANSPORTATION: MARKET, BY REGION, 2023–2028 (KILOTON)
    7.6 CONSTRUCTION 
           7.6.1 INCREASING DEMAND FOR PREFABRICATED MATERIAL TO DRIVE MARKET
                    TABLE 84 CONSTRUCTION: CORE MATERIALS MARKET, BY REGION, 2020–2022 (USD MILLION)
                    TABLE 85 CONSTRUCTION: CORE MATERIAL MARKET, BY REGION, 2020–2022 (KILOTON)
                    TABLE 86 CONSTRUCTION: MARKET, BY REGION, 2023–2028 (USD MILLION)
                    TABLE 87 CONSTRUCTION: MARKET, BY REGION, 2023–2028 (KILOTON)
    7.7 INDUSTRIAL 
           7.7.1 RISING NEED FOR FOAM CORES IN INDUSTRIAL APPLICATIONS TO BOOST MARKET
                    TABLE 88 INDUSTRIAL: CORE MATERIALS MARKET, BY REGION, 2020–2022 (USD MILLION)
                    TABLE 89 INDUSTRIAL: CORE MATERIAL MARKET, BY REGION, 2020–2022 (KILOTON)
                    TABLE 90 INDUSTRIAL: MARKET, BY REGION, 2023–2028 (USD MILLION)
                    TABLE 91 INDUSTRIAL: MARKET, BY REGION, 2023–2028 (KILOTON)
    7.8 OTHER END-USE INDUSTRIES 
          TABLE 92 OTHER END-USE INDUSTRIES: CORE MATERIALS MARKET, BY REGION, 2020–2022 (USD MILLION)
          TABLE 93 OTHER END-USE INDUSTRIES: CORE MATERIAL MARKET, BY REGION, 2020–2022 (KILOTON)
          TABLE 94 OTHER END-USE INDUSTRIES: MARKET, BY REGION, 2023–2028 (USD MILLION)
          TABLE 95 OTHER END-USE INDUSTRIES: MARKET, BY REGION, 2023–2028 (KILOTON)
 
8 CORE MATERIAL MARKET, BY REGION (Page No. - 125)
    8.1 INTRODUCTION 
          FIGURE 45 CHINA TO RECORD FASTEST MARKET GROWTH DURING FORECAST PERIOD
          TABLE 96 CORE MATERIALS MARKET, BY REGION, 2020–2022 (USD MILLION)
          TABLE 97 CORE MATERIAL MARKET, BY REGION, 2020–2022 (KILOTON)
          TABLE 98 CORE MATERIALS MARKET, BY REGION, 2023–2028 (USD MILLION)
          TABLE 99 CORE MATERIAL MARKET, BY REGION, 2023–2028 (KILOTON)
    8.2 NORTH AMERICA 
           8.2.1 IMPACT OF RECESSION
                    FIGURE 46 NORTH AMERICA: CORE MATERIALS MARKET SNAPSHOT
           8.2.2 NORTH AMERICA, BY END-USE INDUSTRY
                    TABLE 100 NORTH AMERICA: CORE MATERIAL MARKET, BY END-USE INDUSTRY, 2020–2022 (USD MILLION)
                    TABLE 101 NORTH AMERICA: MARKET, BY END-USE INDUSTRY, 2020–2022 (KILOTON)
                    TABLE 102 NORTH AMERICA: MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                    TABLE 103 NORTH AMERICA: MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)
           8.2.3 NORTH AMERICA, BY TYPE
                    TABLE 104 NORTH AMERICA: CORE MATERIALS MARKET, BY TYPE, 2020–2022 (USD MILLION)
                    TABLE 105 NORTH AMERICA: MARKET, BY TYPE, 2020–2022 (KILOTON)
                    TABLE 106 NORTH AMERICA: MARKET, BY TYPE, 2023–2028 (USD MILLION)
                    TABLE 107 NORTH AMERICA: MARKET, BY TYPE, 2023–2028 (KILOTON)
           8.2.4 NORTH AMERICA, BY COUNTRY
                    TABLE 108 NORTH AMERICA: CORE MATERIALS MARKET, BY COUNTRY, 2020–2022 (USD MILLION)
                    TABLE 109 NORTH AMERICA: MARKET, BY COUNTRY, 2020–2022 (KILOTON)
                    TABLE 110 NORTH AMERICA: MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
                    TABLE 111 NORTH AMERICA: MARKET, BY COUNTRY, 2023–2028 (KILOTON)
                    8.2.4.1 US
                               8.2.4.1.1 High demand from aerospace & defense industry to drive market
                                              TABLE 112 US: CORE MATERIALS MARKET, BY END-USE INDUSTRY, 2020–2022 (USD MILLION)
                                              TABLE 113 US: CORE MATERIAL MARKET, BY END-USE INDUSTRY, 2020–2022 (KILOTON)
                                              TABLE 114 US: MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                              TABLE 115 US: MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)
                    8.2.4.2 Canada
                               8.2.4.2.1 Surge in wind energy installations to boost market
                                              TABLE 116 CANADA: CORE MATERIALS MARKET, BY END-USE INDUSTRY, 2020–2022 (USD MILLION)
                                              TABLE 117 CANADA: CORE MATERIAL MARKET, BY END-USE INDUSTRY, 2020–2022 (KILOTON)
                                              TABLE 118 CANADA: MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                              TABLE 119 CANADA: MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)
    8.3 EUROPE 
           8.3.1 IMPACT OF RECESSION
                    FIGURE 47 EUROPE: CORE MATERIALS MARKET SNAPSHOT
           8.3.2 EUROPE, BY END-USE INDUSTRY
                    TABLE 120 EUROPE: MARKET, BY END-USE INDUSTRY, 2020–2022 (USD MILLION)
                    TABLE 121 EUROPE: MARKET, BY END-USE INDUSTRY, 2020–2022 (KILOTON)
                    TABLE 122 EUROPE: MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                    TABLE 123 EUROPE: MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)
           8.3.3 EUROPE, BY TYPE
                    TABLE 124 EUROPE: CORE MATERIALS MARKET, BY TYPE, 2020–2022 (USD MILLION)
                    TABLE 125 EUROPE: CORE MATERIAL MARKET, BY TYPE, 2020–2022 (KILOTON)
                    TABLE 126 EUROPE: MARKET, BY TYPE, 2023–2028 (USD MILLION)
                    TABLE 127 EUROPE: MARKET, BY TYPE, 2023–2028 (KILOTON)
           8.3.4 EUROPE, BY COUNTRY
                    TABLE 128 EUROPE: CORE MATERIALS MARKET, BY COUNTRY, 2020–2022 (USD MILLION)
                    TABLE 129 EUROPE: CORE MATERIAL MARKET, BY COUNTRY, 2020–2022 (KILOTON)
                    TABLE 130 EUROPE: MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
                    TABLE 131 EUROPE: MARKET, BY COUNTRY, 2023–2028 (KILOTON)
                    8.3.4.1 Germany
                               8.3.4.1.1 Strong presence of wind energy industries to drive market
                                              TABLE 132 GERMANY: CORE MATERIALS MARKET, BY END-USE INDUSTRY, 2020–2022 (USD MILLION)
                                              TABLE 133 GERMANY: CORE MATERIAL MARKET, BY END-USE INDUSTRY, 2020–2022 (KILOTON)
                                              TABLE 134 GERMANY: MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                              TABLE 135 GERMANY: MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)
                    8.3.4.2 France
                               8.3.4.2.1 Increasing demand for windmills to boost market
                                              TABLE 136 FRANCE: CORE MATERIALS MARKET, BY END-USE INDUSTRY, 2020–2022 (USD MILLION)
                                              TABLE 137 FRANCE: CORE MATERIAL MARKET, BY END-USE INDUSTRY, 2020–2022 (KILOTON)
                                              TABLE 138 FRANCE: MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                              TABLE 139 FRANCE: MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)
                    8.3.4.3 UK
                               8.3.4.3.1 Pressing need for core materials in wind turbines to fuel market
                                              TABLE 140 UK: CORE MATERIALS MARKET, BY END-USE INDUSTRY, 2020–2022 (USD MILLION)
                                              TABLE 141 UK: CORE MATERIAL MARKET, BY END-USE INDUSTRY, 2020–2022 (KILOTON)
                                              TABLE 142 UK: MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                              TABLE 143 UK: MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)
                    8.3.4.4 Italy
                               8.3.4.4.1 Rising demand for balsa in marine industry to boost market
                                              TABLE 144 ITALY: CORE MATERIALS MARKET, BY END-USE INDUSTRY, 2020–2022 (USD MILLION)
                                              TABLE 145 ITALY: CORE MATERIAL MARKET, BY END-USE INDUSTRY, 2020–2022 (KILOTON)
                                              TABLE 146 ITALY: MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                              TABLE 147 ITALY: MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)
                    8.3.4.5 Spain
                               8.3.4.5.1 Wide applications of composite cores in wind energy and aerospace industries to drive market
                                              TABLE 148 SPAIN: CORE MATERIALS MARKET, BY END-USE INDUSTRY, 2020–2022 (USD MILLION)
                                              TABLE 149 SPAIN: CORE MATERIAL MARKET, BY END-USE INDUSTRY, 2020–2022 (KILOTON)
                                              TABLE 150 SPAIN: MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                              TABLE 151 SPAIN: MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)
                    8.3.4.6 Turkey
                               8.3.4.6.1 Rising demand for foam in automobiles to drive market
                                              TABLE 152 TURKEY: CORE MATERIALS MARKET, BY END-USE INDUSTRY, 2020–2022 (USD MILLION)
                                              TABLE 153 TURKEY: CORE MATERIAL MARKET, BY END-USE INDUSTRY, 2020–2022 (KILOTON)
                                              TABLE 154 TURKEY: MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                              TABLE 155 TURKEY: MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)
                    8.3.4.7 Rest of Europe
                                TABLE 156 REST OF EUROPE: CORE MATERIALS MARKET, BY END-USE INDUSTRY, 2020–2022 (USD MILLION)
                                TABLE 157 REST OF EUROPE: CORE MATERIAL MARKET, BY END-USE INDUSTRY, 2020–2022 (KILOTON)
                                TABLE 158 REST OF EUROPE: MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                TABLE 159 REST OF EUROPE: MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)
    8.4 ASIA PACIFIC 
           8.4.1 IMPACT OF RECESSION
                    FIGURE 48 ASIA PACIFIC: CORE MATERIALS MARKET SNAPSHOT
           8.4.2 ASIA PACIFIC: CORE MATERIAL MARKET, BY TYPE
                    TABLE 160 ASIA PACIFIC: MARKET, BY TYPE, 2020–2022 (USD MILLION)
                    TABLE 161 ASIA PACIFIC: MARKET, BY TYPE, 2020–2022 (KILOTON)
                    TABLE 162 ASIA PACIFIC: MARKET, BY TYPE, 2023–2028 (USD MILLION)
                    TABLE 163 ASIA PACIFIC: MARKET, BY TYPE, 2023–2028 (KILOTON)
           8.4.3 ASIA PACIFIC: CORE MATERIALS MARKET, BY END-USE INDUSTRY
                    TABLE 164 ASIA PACIFIC: MARKET, BY END-USE INDUSTRY, 2020–2022 (USD MILLION)
                    TABLE 165 ASIA PACIFIC: MARKET, BY END-USE INDUSTRY, 2020–2022 (KILOTON)
                    TABLE 166 ASIA PACIFIC: MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                    TABLE 167 ASIA PACIFIC: MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)
           8.4.4 ASIA PACIFIC: CORE MATERIAL MARKET, BY COUNTRY
                    TABLE 168 ASIA PACIFIC: MARKET, BY COUNTRY, 2020–2022 (USD MILLION)
                    TABLE 169 ASIA PACIFIC: MARKET, BY COUNTRY, 2020–2022 (KILOTON)
                    TABLE 170 ASIA PACIFIC: MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
                    TABLE 171 ASIA PACIFIC: MARKET, BY COUNTRY, 2023–2028 (KILOTON)
                    8.4.4.1 China
                               8.4.4.1.1 Increasing demand for foam and balsa to drive market
                                              TABLE 172 CHINA: CORE MATERIALS MARKET, BY END-USE INDUSTRY, 2020–2022 (USD MILLION)
                                              TABLE 173 CHINA: CORE MATERIAL MARKET, BY END-USE INDUSTRY, 2020–2022 (KILOTON)
                                              TABLE 174 CHINA: MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                              TABLE 175 CHINA: MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)
                    8.4.4.2 Japan
                               8.4.4.2.1 High demand for small passenger cars to drive market
                                              TABLE 176 JAPAN: CORE MATERIALS MARKET, BY END-USE INDUSTRY, 2020–2022 (USD MILLION)
                                              TABLE 177 JAPAN: CORE MATERIAL MARKET, BY END-USE INDUSTRY, 2020–2022 (KILOTON)
                                              TABLE 178 JAPAN: MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                              TABLE 179 JAPAN: MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)
                    8.4.4.3 India
                               8.4.4.3.1 Rising adoption of renewable energy to boost market
                                              TABLE 180 INDIA: CORE MATERIALS MARKET, BY END-USE INDUSTRY, 2020–2022 (USD MILLION)
                                              TABLE 181 INDIA: CORE MATERIAL MARKET, BY END-USE INDUSTRY, 2020–2022 (KILOTON)
                                              TABLE 182 INDIA: MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                              TABLE 183 INDIA: MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)
                    8.4.4.4 Australia
                               8.4.4.4.1 Immense need for fuel-efficient and sustainable materials to drive market
                                              TABLE 184 AUSTRALIA: CORE MATERIALS MARKET, BY END-USE INDUSTRY, 2020–2022 (USD MILLION)
                                              TABLE 185 AUSTRALIA: CORE MATERIAL MARKET, BY END-USE INDUSTRY, 2020–2022 (KILOTON)
                                              TABLE 186 AUSTRALIA: MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                              TABLE 187 AUSTRALIA: MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)
                    8.4.4.5 Rest of Asia Pacific
                                TABLE 188 REST OF ASIA PACIFIC: CORE MATERIALS MARKET, BY END-USE INDUSTRY, 2020–2022 (USD MILLION)
                                TABLE 189 REST OF ASIA PACIFIC: CORE MATERIAL MARKET, BY END-USE INDUSTRY, 2020–2022 (KILOTON)
                                TABLE 190 REST OF ASIA PACIFIC: MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                TABLE 191 REST OF ASIA PACIFIC: MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)
    8.5 REST OF WORLD 
           8.5.1 IMPACT OF RECESSION
                    FIGURE 49 REST OF WORLD: CORE MATERIALS MARKET SNAPSHOT
           8.5.2 REST OF WORLD: CORE MATERIAL MARKET, BY TYPE
                    TABLE 192 REST OF WORLD: MARKET, BY TYPE, 2020–2022 (USD MILLION)
                    TABLE 193 REST OF WORLD: MARKET, BY TYPE, 2020–2022 (KILOTON)
                    TABLE 194 REST OF WORLD: MARKET, BY TYPE, 2023–2028 (USD MILLION)
                    TABLE 195 REST OF WORLD: MARKET, BY TYPE, 2023–2028 (KILOTON)
           8.5.3 REST OF WORLD: CORE MATERIALS MARKET, BY END-USE INDUSTRY
                    TABLE 196 REST OF WORLD: MARKET, BY END-USE INDUSTRY, 2020–2022 (USD MILLION)
                    TABLE 197 REST OF WORLD: MARKET, BY END-USE INDUSTRY, 2020–2022 (KILOTON)
                    TABLE 198 REST OF WORLD: MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                    TABLE 199 REST OF WORLD: MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)
           8.5.4 REST OF WORLD: CORE MATERIAL MARKET, BY COUNTRY
                    TABLE 200 REST OF WORLD: MARKET, BY COUNTRY, 2020–2022 (USD MILLION)
                    TABLE 201 REST OF WORLD: MARKET, BY COUNTRY, 2020–2022 (KILOTON)
                    TABLE 202 REST OF WORLD: MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
                    TABLE 203 REST OF WORLD: MARKET, BY COUNTRY, 2023–2028 (KILOTON)
                    8.5.4.1 Brazil
                               8.5.4.1.1 High number of wind power installations to boost market
                                              TABLE 204 BRAZIL: CORE MATERIALS MARKET, BY END-USE INDUSTRY, 2020–2022 (USD MILLION)
                                              TABLE 205 BRAZIL: CORE MATERIAL MARKET, BY END-USE INDUSTRY, 2020–2022 (KILOTON)
                                              TABLE 206 BRAZIL: MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                              TABLE 207 BRAZIL: MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)
                    8.5.4.2 Mexico
                               8.5.4.2.1 Surge in demand for wind turbines to drive market
                                              TABLE 208 MEXICO: CORE MATERIALS MARKET, BY END-USE INDUSTRY, 2020–2022 (USD MILLION)
                                              TABLE 209 MEXICO: CORE MATERIAL MARKET, BY END-USE INDUSTRY, 2020–2022 (KILOTON)
                                              TABLE 210 MEXICO: MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                              TABLE 211 MEXICO: MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)
                    8.5.4.3 Rest of ROW countries
                                TABLE 212 REST OF ROW COUNTRIES: CORE MATERIALS MARKET, BY END-USE INDUSTRY, 2020–2022(USD MILLION)
                                TABLE 213 REST OF ROW COUNTRIES: CORE MATERIAL MARKET, BY END-USE INDUSTRY, 2020–2022 (KILOTON)
                                TABLE 214 REST OF ROW COUNTRIES: MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)
                                TABLE 215 REST OF ROW COUNTRIES: MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)
 
9 COMPETITIVE LANDSCAPE (Page No. - 182)
    9.1 INTRODUCTION 
    9.2 KEY PLAYER STRATEGIES 
          TABLE 216 STRATEGIES ADOPTED BY CORE MATERIAL MANUFACTURERS
    9.3 REVENUE ANALYSIS 
          FIGURE 50 CORE MATERIAL MARKET: REVENUE ANALYSIS OF TOP 5 MARKET PLAYERS
    9.4 MARKET SHARE ANALYSIS 
          FIGURE 51 SHARES OF TOP COMPANIES IN CORE MATERIALS MARKET
          TABLE 217 DEGREE OF COMPETITION: CORE MATERIAL MARKET
    9.5 BRAND/PRODUCT COMPARATIVE ANALYSIS 
          FIGURE 52 BRAND/PRODUCT COMPARISON
           9.5.1 GURIT KERDYN
           9.5.2 HEXWEB HONEYCOMB
           9.5.3 AIREX
           9.5.4 ROHACELL
           9.5.5 DIVINYCELL
    9.6 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2022 
           9.6.1 STARS
           9.6.2 EMERGING LEADERS
           9.6.3 PERVASIVE PLAYERS
           9.6.4 PARTICIPANTS
                    FIGURE 53 CORE MATERIALS MARKET: COMPANY EVALUATION MATRIX, 2022
           9.6.5 COMPANY FOOTPRINT: KEY PLAYERS, 2022
                    9.6.5.1 Company footprint
                                FIGURE 54 CORE MATERIAL MARKET: COMPANY FOOTPRINT (18 COMPANIES)
                    9.6.5.2 Company type footprint
                                TABLE 218 CORE MATERIALS MARKET: COMPANY TYPE FOOTPRINT (18 COMPANIES)
                    9.6.5.3 Company subtype (foam) footprint
                                TABLE 219 CORE MATERIAL MARKET: COMPANY SUBTYPE (FOAM) FOOTPRINT (18 COMPANIES)
                    9.6.5.4 Company subtype (honeycomb) footprint
                                TABLE 220 CORE MATERIALS MARKET: COMPANY SUBTYPE (HONEYCOMB) FOOTPRINT (18 COMPANIES)
                    9.6.5.5 Company end-use industry footprint
                                TABLE 221 CORE MATERIAL MARKET: COMPANY END-USE INDUSTRY FOOTPRINT (18 COMPANIES)
                    9.6.5.6 Company region footprint
                                TABLE 222 CORE MATERIALS MARKET: COMPANY REGION FOOTPRINT (18 COMPANIES)
    9.7 VALUATION AND FINANCIAL METRICS 
          FIGURE 55 EV/EBITDA OF KEY MANUFACTURERS
          FIGURE 56 YEAR-TO-DATE (YTD) PRICE TOTAL RETURN AND 5-YEAR STOCK BETA OF KEY MANUFACTURERS
    9.8 COMPETITIVE SCENARIO AND TRENDS 
           9.8.1 PRODUCT LAUNCHES
                    TABLE 223 CORE MATERIALS MARKET: PRODUCT LAUNCHES, JANUARY 2020–JANUARY 2024
           9.8.2 DEALS
                    TABLE 224 CORE MATERIAL MARKET: DEALS, JANUARY 2020–JANUARY 2024
           9.8.3 EXPANSIONS
                    TABLE 225 CORE MATERIALS MARKET: EXPANSIONS, JANUARY 2020–JANUARY 2024
 
10 COMPANY PROFILES (Page No. - 202)
(Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
     10.1 KEY COMPANIES 
             10.1.1 GURIT HOLDINGS AG
                        TABLE 226 GURIT HOLDING AG: COMPANY OVERVIEW
                        FIGURE 57 GURIT HOLDING AG: COMPANY SNAPSHOT
                        TABLE 227 GURIT HOLDING AG: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 228 GURIT HOLDING AG: PRODUCT LAUNCHES
                        TABLE 229 GURIT HOLDINGS AG: DEALS
             10.1.2 HEXCEL CORPORATION
                        TABLE 230 HEXCEL CORPORATION: COMPANY OVERVIEW
                        FIGURE 58 HEXCEL CORPORATION: COMPANY SNAPSHOT
                        TABLE 231 HEXCEL CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 232 HEXCEL CORPORATION: DEALS
                        TABLE 233 HEXCEL CORPORATION: EXPANSIONS
             10.1.3 3A COMPOSITES
                        TABLE 234 3A COMPOSITES: COMPANY OVERVIEW
                        FIGURE 59 3A COMPOSITES: COMPANY SNAPSHOT
                        TABLE 235 3A COMPOSITES: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 236 3A COMPOSITES: PRODUCT LAUNCHES
                        TABLE 237 3A COMPOSITES: DEALS
             10.1.4 EVONIK INDUSTRIES AG
                        TABLE 238 EVONIK INDUSTRIES AG: COMPANY OVERVIEW
                        FIGURE 60 EVONIK INDUSTRIES AG: COMPANY SNAPSHOT
                        TABLE 239 EVONIK INDUSTRIES AG: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 240 EVONIK INDUSTRIES AG: PRODUCT LAUNCHES
                        TABLE 241 EVONIK INDUSTRIES AG: EXPANSIONS
             10.1.5 ARMACELL
                        TABLE 242 ARMACELL: COMPANY OVERVIEW
                        FIGURE 61 ARMACELL: COMPANY SNAPSHOT
                        TABLE 243 ARMACELL: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 244 ARMACELL: PRODUCT LAUNCHES
                        TABLE 245 ARMACELL: DEALS
                        TABLE 246 ARMACELL: EXPANSIONS
             10.1.6 DIAB GROUP
                        TABLE 247 DIAB GROUP: COMPANY OVERVIEW
                        TABLE 248 DIAB GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 249 DIAB GROUP: PRODUCT LAUNCHES
                        TABLE 250 DIAB GROUP: DEALS
                        TABLE 251 DIAB GROUP: EXPANSIONS
             10.1.7 THE GILL CORPORATION
                        TABLE 252 THE GILL CORPORATION: COMPANY OVERVIEW
                        TABLE 253 THE GILL CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 254 THE GILL CORPORATION: PRODUCT LAUNCHES
                        TABLE 255 THE GILL CORPORATION: DEALS
             10.1.8 EURO-COMPOSITES
                        TABLE 256 EURO-COMPOSITES: COMPANY OVERVIEW
                        TABLE 257 EURO-COMPOSITES: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 258 EURO-COMPOSITES: PRODUCT LAUNCHES
             10.1.9 CHANGZHOU TIANSHENG NEW MATERIALS CO., LTD.
                        TABLE 259 CHANGZHOU TIANSHENG NEW MATERIALS CO., LTD.: COMPANY OVERVIEW
                        TABLE 260 CHANGZHOU TIANSHENG NEW MATERIALS CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             10.1.10 PLASCORE INC.
                        TABLE 261 PLASCORE INC.: COMPANY OVERVIEW
                        TABLE 262 PLASCORE INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             10.1.11 TORAY INDUSTRIES, INC.
                        TABLE 263 TORAY INDUSTRIES, INC.: COMPANY OVERVIEW
                        FIGURE 62 TORAY INDUSTRIES, INC.: COMPANY SNAPSHOT
                        TABLE 264 TORAY INDUSTRIES, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 265 TORAY INDUSTRIES, INC.: EXPANSIONS
             10.1.12 CORELITE
                        TABLE 266 CORELITE: COMPANY OVERVIEW
                        TABLE 267 CORELITE: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             10.1.13 SICOMIN
                        TABLE 268 SICOMIN: COMPANY OVERVIEW
                        TABLE 269 SICOMIN: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             10.1.14 I-CORE COMPOSITES
                        TABLE 270 I-CORE COMPOSITES: COMPANY OVERVIEW
                        TABLE 271 I-CORE COMPOSITES: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             10.1.15 MARICELL CORE COMPOSITES
                        TABLE 272 MARICELL CORE COMPOSITES: COMPANY OVERVIEW
                        TABLE 273 MARICELL CORE COMPOSITES: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             10.1.16 SHOWA AIRCRAFT INDUSTRY CO., LTD
                        TABLE 274 SHOWA AIRCRAFT INDUSTRY CO., LTD.: COMPANY OVERVIEW
                        TABLE 275 SHOWA AIRCRAFT INDUSTRY CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             10.1.17 TCCORE APPLIED HONEYCOMB TECHNOLOGY CO., LTD.
                        TABLE 276 TCCORE APPLIED HONEYCOMB TECHNOLOGY CO., LTD.: COMPANY OVERVIEW
                        TABLE 277 TCCORE APPLIED HONEYCOMB TECHNOLOGY CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             10.1.18 SAERTEX GMBH & CO.KG
                        TABLE 278 SAERTEX GMBH & CO.KG: COMPANY OVERVIEW
                        TABLE 279 SAERTEX GMBH & CO.KG: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 280 SAERTEX GMBH & CO.KG: PRODUCT LAUNCHES
     10.2 OTHER PLAYERS 
             10.2.1 RELCORE COMPOSITES INC.
                        TABLE 281 RELCORE COMPOSITES INC.: COMPANY OVERVIEW
             10.2.2 POLYUMAC USA, LLC
                        TABLE 282 POLYUMAC USA, LLC.: COMPANY OVERVIEW
             10.2.3 CARBON-CORE CORP.
                        TABLE 283 CARBON-CORE CORP.: COMPANY OVERVIEW
             10.2.4 TASUNS COMPOSITE TECHNOLOGY CO., LTD
                        TABLE 284 TASUNS COMPOSITE TECHNOLOGY CO., LTD: COMPANY OVERVIEW
             10.2.5 DONGYING HORIZON COMPOSITE CO., LTD.
                        TABLE 285 DONGYING HORIZON COMPOSITE CO., LTD.: COMPANY OVERVIEW
             10.2.6 ZHEJIANG YOUWEI NEW MATERIALS CO., LTD.
                        TABLE 286 ZHEJIANG YOUWEI NEW MATERIALS CO., LTD.: COMPANY OVERVIEW
             10.2.7 NMG EUROPE SRL
                        TABLE 287 NMG EUROPE SRL: COMPANY OVERVIEW
             10.2.8 NAGOYA CORE CO., LTD.
                        TABLE 288 NAGOYA CORE CO., LTD.: COMPANY OVERVIEW
             10.2.9 ARGOSY INTERNATIONAL INC.
                        TABLE 289 ARGOSY INTERNATIONAL INC.: COMPANY OVERVIEW
             10.2.10 ECONCORE
                        TABLE 290 ECONCORE: COMPANY OVERVIEW
 
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
 
11 APPENDIX (Page No. - 265)
     11.1 DISCUSSION GUIDE 
     11.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     11.3 CUSTOMIZATION OPTIONS 
     11.4 RELATED REPORTS 
     11.5 AUTHOR DETAILS 

The study involved two major activities in estimating the current size of the core materials market. Exhaustive secondary research was performed to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the total market size. After that, market breakdown and data triangulation procedures were used to determine the extent of market segments and sub-segments.

Secondary Research

Secondary sources referred to for this research study include financial statements of companies offering core materials and information from various trade, business, and professional associations. Secondary research has been used to obtain critical information about the industry’s value chain, the total pool of key players, market classification, and segmentation according to industry trends to the bottom-most level and regional markets. The secondary data was collected and analyzed to arrive at the overall size of the core material market, which was validated by primary respondents.

Primary Research

Extensive primary research was conducted after obtaining information regarding the core material market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand and supply sides across major countries of North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. Primary data was collected through questionnaires, emails, and telephonic interviews. The primary sources from the supply side included various industry experts, such as Chief X Officers (CXOs), Vice Presidents (VPs), Directors from business development, marketing, product development/innovation teams, and related key executives from core material industry vendors; system integrators; component providers; distributors; and key opinion leaders. Primary interviews were conducted to gather insights such as market statistics, data on revenue collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to technology, application, vertical, and region. Stakeholders from the demand side, such as CIOs, CTOs, CSOs, and installation teams of the customer/end users who are using the core materials, were interviewed to understand the buyer’s perspective on the suppliers, products, component providers, and their current usage of core materials and future outlook of their business which will affect the overall market.

Following is the breakdown of primary respondents:

Core Materials Market Size, and Share

Notes: Tiers of companies are selected based on their ownership and revenues in 2022.

Source: Secondary Research, Expert Interviews, and MarketsandMarkets Analysis

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

Market Size Estimation

The research methodology used to estimate the size of the core material market includes the following details. The market sizing of the market was undertaken from the demand side. The market was upsized based on procurements and modernizations of core materials in different applications at a regional level. Such procurements provide information on the demand aspects of the core materials industry for each application. For each application, all possible segments of the core material market were integrated and mapped.

Core Material Market Size: Botton Up Approach

Core Materials Market Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

Core Material Market Size: Top Down Approach

Core Materials Market Size, and Share

Data Triangulation

After arriving at the overall core materials market size, using the market size estimation processes explained above, the market was split into several segments and sub-segments. In order to complete the whole market engineering process and arrive at the exact statistics of each market segment and sub-segment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides, mainly from the wind energy, aerospace & defense, marine, automotive & transportation, and other end-use industries.

Market Definition

The term "core materials" describes a wide variety of materials that are used as essential parts of composite structures in a variety of sectors. These substances function as the inner or central core of sandwich composite structures, offering crucial characteristics including insulation, rigidity, and strength while keeping a thin profile. Core materials, which are commonly classified into categories like foam, balsa wood, and honeycomb structures, are widely used in a variety of industries, including construction, wind energy, aerospace, marine, automotive, and industrial manufacturing. The market for core materials is always changing due to advances in materials science and the increased emphasis on lightweight and sustainable solutions. This is because a variety of end-use sectors are seeing a growing need for high-performance and affordable alternatives.

Key Stakeholders

  • Core materials manufacturers and distributors
  • Key application segments for composites
  • Research and consulting firms
  • R&D institutions
  • Associations and government institutions
  • Environmental support agencies

Report Objectives

  • To analyze and forecast the size of the core materials market, in terms of value and volume
  • To provide detailed information about the key factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
  • To analyze and forecast the market based on type and end-use industry
  • To analyze and project the market based on four regions, namely, Europe, North America, Asia Pacific (APAC), and Rest of World (RoW)
  • To strategically analyze the micro markets concerning individual growth trends, prospects, and their contribution to the overall market
  • To analyze the opportunities in the market for stakeholders and provide a competitive landscape for market leaders
  • To strategically profile the key players and comprehensively analyze their market shares and core competencies

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the specific needs of the companies with the given market data.

The following customization options are available for the report:

Product Analysis

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

Regional Analysis

  • Further breakdown of Rest of APAC core materials market
  • Further breakdown of Rest of Europe core materials market
  • Further breakdown of Rest of world core materials market

Company Information

  • Detailed analysis and profiling of additional market players (up to 10)
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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