Global Balsa Core Materials Market Trends, Applications, Analysis, Growth, and Forecast to 2028
“Global Balsa Core Materials Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global balsa core materials market report has been segmented on the basis of product type, end-use industry, and region.
Global Balsa Core Materials Market: Overview
Balsa core materials are made up of balsa wood which is a natural and renewable resource. Balsa core materials are widely used in construction, transportation, aerospace, and other industries, owing to its various properties such as high strength and stiffness, fire resistant, corrosion resistant, good thermal insulation, and others. These materials are compatible with all manufacturing processes such as wet lamination, prepreg construction, and others.
Global Balsa Core Materials Market: Dynamics
Increasing use of balsa honeycomb material in marine and wind energy industries owing to its rigidity, moisture resistant, and others is a major factor expected to drive growth of the global balsa core materials market over the forecast period. Additionally, rising demand for balsa core materials from construction and transportation industries owing to it properties such as lightweight, high strength and stiffness, good thermal insulation, and others is another factor estimated to fuel growth of the target market to a certain extent in the coming years. Furthermore, increasing demand for balsa core materials in aerospace sector owing to lightweight and high tensile strength properties is among some other factors estimated to fuel growth of the balsa core materials market over the forecast period.
However, high material cost is a major factor which may restrain growth of the target market over the long run. In addition, stringent government rules in order to reduce carbon emissions is expected to be another factor restraining growth of the potential market.
Increasing R&D and technological advancements in various end-use industries for cost effective product is expected to create lucrative opportunities for the manufactures of balsa core materials, and is anticipated to support revenue growth of the potential market over the long run.
Global Balsa Core Materials Market: Segment Analysis
Among the product type segments, the multilayer segment is estimated to hold significant revenue share and is projected to grow at a rapid rate in the next 10 years, owing to its ability to absorb high energy as compared to monolayer materials.
Among end-use industry segments, the wind energy segment is expected to account for maximum revenue share contribution in the target market in the next few years, owing to increasing government initiatives for energy projects and eco-friendly generation systems.
Global Balsa Core Materials Market: Regional Analysis
Currently, Asia Pacific market is estimated to account for significant share in terms of value, and is expected to dominate in the global balsa core materials market over the forecast period. Increasing demand for honeycomb core materials in wind energy and other end-use industries is a major factor expected to propel growth of the Asia Pacific balsa core materials market. The balsa core materials market in Asia Pacific is projected to register fastest growth rate in the next 10 years, owing to increasing government initiatives for various energy and construction projects in emerging economies. The market in Europe is expected to register for moderate revenue growth in the target market, owing to shifting preference of players towards these materials for application in marine and aerospace industries.
Global Balsa Core Materials Market Segmentation:
Segmentation on the Basis of Product Type:
Segmentation on the Basis of End-use Industry:
- Wind Energy
- Others (Electronics and Defense)
Segmentation on the Basis of Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- DIAB Group AB
- Gurit Holding AG
- Schweiter Technologies AG
- Carbon-Core Corporation
- CoreLite, Inc.
- I-Core Composites, LLC
- Bcomp Ltd.
- Nord Compensati Spa
- Kerfkore Company
- BONDi (Shandong) Environmental Material Company Limited
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