Asia Pacific Core Material Market worth USD 1.69 billion by 2030
The report "Asia Pacific Core Material Market By Type (Foam, Balsa, and Honeycomb), End-Use Industry (Wind Energy, Marine, Aerospace & Defense, Automotive & Transportation, Construction & Industrial), and Country - Forecast To 2030" is projected to reach USD 1.69 billion by 2030 from USD 0.84 billion in 2025, at a CAGR of 15.0%.
Browse 180 market data Tables and 70 Figures spread through 300 Pages and in-depth TOC on "Asia Pacific Core Material Market, By Type (Foam, Balsa, and Honeycomb), End-Use Industry (Wind Energy, Marine, Aerospace & Defense, Automotive & Transportation, Construction & Industrial), and Country - Forecast To 2030"
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The growing investment in renewable sources of energy is emerging as a prominent contributing factor to the Asia Pacific core materials market. Large wind energy developments being launched in China, India, and Southeast Asia are driving the demand for PET and PVC foam core materials that enable larger wind turbine blades and greater energy generation. To encourage production capacities for clean energy sources, respective governments are providing subsidies and setting national goals; this fuels the demand for lightweight materials with improved turbine efficiency. The establishment of offshore wind farms at a rapid scale also enhances demand because offshore wind generation requires core materials with high strength and fatigue resistance, as they are exposed to extreme environments. Localization efforts for blade production within Asia Pacific also stimulate consistent purchases of foam and balsa cores from local manufacturers.
In 2024, PET foam core materials accounted for a significant share of the Asia Pacific core materials market.
The market for core materials in Asia Pacific is expected to be led by PET foam due to its desirable combination of mechanical properties, light weight, recyclability, and cost-effectiveness. It works well for high-growth rate industries as well. It is mainly driven by the wind energy sector. The increasing use of large-bladed wind turbines leads to an increase in the use of PET cores, as they have shown consistent performance at varying temperatures and enable large-scale production. The use of PET foam in various applications, such as the marine industry, transport, and construction, will continue due to its desirable fatigue performance and easy processing compared with alternatives. Local production capacity for PET foam has increased, making it more widely replaceable with PET.
The aerospace & defense industry is set to grow at the second-highest CAGR in the Asia Pacific core materials market during the forecast period, in terms of value.
Rapid increases in aircraft production and MRO activities, as well as defense modernization programs in China, India, Japan, and South Korea, are a major reason for the Asia Pacific aerospace market to become the second-fastest-growing segment of core materials. The rise in domestic travel is creating significant demand for lightweight, high-strength core materials. This demand is driven by high backlog orders from regional manufacturers and suppliers of airframe components. These lightweight materials are needed for the interior of aircraft, structural panels, and UAV parts. To further promote the use of these materials, governments are offering financial assistance. They are providing policy incentives and investing in advanced composite materials. These efforts aim to improve the efficiency of aviation systems, increase payload capacity, and enhance the overall performance of aircraft.
India is projected to register the second-highest CAGR in the Asia Pacific core materials market.
India is the second fastest-growing market for core materials. Its wind energy, automotive, rail, and marine sectors are expanding rapidly. The government targets to increase renewable energy capacity, creating strong demand for PET and PVC foam cores in turbine blade manufacturing. The rise in electric vehicle production and metro rail projects boosts the need for lightweight composite structures that improve efficiency and durability. Local boat building, industrial equipment manufacturing, and construction industries are adopting composite panels and sandwich structures more quickly. Growing domestic production capabilities, rising foreign investments, and a greater emphasis on reducing import dependence further drive India’s growth in the regional core materials market.
Key Players
Prominent companies include Changzhou Tiansheng New Materials Co. Ltd. (China), Toray Industries, Inc (Japan), Showa Aircraft Industry Co., Ltd (Japan), and Tccore Applied Honeycomb Technology Co., Ltd. (China), Dongying Horizon Composite Co., Ltd. (China), Zhejiang Youwei New Materials Co., Ltd. (China), Nagoya Core Co., Ltd. (Japan).
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