Global Core Materials Market Size Study & Forecast, by Type (Foam, Honeycomb, Balsa), By Application (Marine, Automotive, Aerospace, Energy, Construction, Industrial), and Regional Analysis, 2023-2030

Description

List of Tables

Global Core Materials Market is valued at approximately USD 1,937.5 million in 2022 and is anticipated to grow with a healthy growth rate of more than 8.8% over the forecast period 2023-2030. Core materials, in the context of materials manufacturing and engineering, are defined as a class of materials used in composite structures. Typically, these materials are made of engineering materials, including foam, wood, and paper, which are significantly used as the key component in sandwich panel construction. These panels are major structural materials that is utilized for ships, boats, wind turbines, aircraft, and others. Further, such materials are usually lightweight and have the potential to deliver structural integrity, easiness, and strength to composite products while reducing weight. Hence, core materials find suitable applications in a range of industries, such as marine, automotive, energy, construction, and industrial. Moreover, the demand for memory-based foam materials increased in end-use industries in the past few years, due to a rise in application across car seats, seat foams, and others. Thus, the rising demand for memory foam has become popular, creating a massive opportunity for the expansion of the core materials market across the globe.

The Core Materials Market is expanding because of factors such as the growing demand for lightweight components, growing manufacturing industries, and an increase in the number of patent filings for core materials among global players. In addition, the surging demand for composites across the aerospace sector is acting as a catalyzing factor for market growth across the globe. The aerospace sector is considered a significant consumer of core materials and composites, owing to their exceptional properties that meet the industry's rigid requirements for weight reduction, high strength-to-weight ratio, stiffness, and durability. These core materials find a wide range of applications in aerospace industries, including aircraft structures, fuselages, wings, engine components, interior components, and rotor blades. As per Statista, it was estimated that the military aircraft and aerospace manufacturing sector generated the revenue of USD 243 billion in 2020, which increased and reached to USD 255.76 billion in 2021.Furthermore, according to the International Journal of Engineering Research & Technology (IJERT), for instance, it is stated that at least 30-40% of modern airframes are presently made of these composites, and this level of adoption is rapidly rising on account of technological advancements in aircraft manufacturing. Similarly, the weight of aircraft components made of composite materials is reduced by nearly 20%. As the aerospace industry continues to prioritize the high strength and weight reduction of aircrafts, the demand for core materials market is poised to grow at a significant rate. Moreover, the emergence of PET foam, as well as the government stimulus packages and tax incentives present numerous growth prospects over the anticipated years. However, the rising concerns for sustainable production of core materials and the high cost of the foam are challenging the market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Core Materials Market study include: Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022, owing to the rise in demand for honeycomb core materials from the aerospace and wind energy industries, along with growing demand for lightweight core materials in this region. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecasting years. Factors such as the increased wind energy installation and increased transportation sector are significantly propelling the market demand across the region, particularly in China and India.

Major market players included in this report are:

Evonik Industries AG (Germany)
Armacell International S.A. (Luxembourg)
Plascore Incorporated (U.S.)
Euro-Composites S.A. (Luxembourg)
Diab Group (Sweden)
3A Composites (Switzerland)
Gurit Holding AG (Switzerland)
Hexcel Corporation (U.S.)
The Gill Corporation (U.S.)
Changzhou Tiansheng New Materials Co., Ltd. (China)

Recent Developments in the Market:

In February 2021, Armacell, a worldwide leader in flexible foam for the equipment insulation market and a significant provider of engineered foams, launched a novel family-brand ArmaPET. This innovative and eco-friendly PET-based foam products is likely to be marketed under the family-brand ArmaPET.
In June 2021, Diab Group acquired the SABIC's foam production line, namely ULTEM, incorporating the ULTEM resin-based foam into its current product portfolio under the name of Divinycell U. Diab. This is expected to strengthen the Diab's position in the market, enabling to offer even more innovating products in the field of core materials.

Global Core Materials Market Report Scope:

Historical Data: 2020 - 2021
Base Year for Estimation: 2022
Forecast period: 2023-2030
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Type, Application, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:

Foam
Honeycomb
Balsa

By Application:

Marine
Automotive
Aerospace
Energy
Construction
Industrial

By Region:

North America

U.S.
Canada

Europe

UK
Germany
France
Spain
Italy
ROE

Asia Pacific

China
India
Japan
Australia
South Korea
RoAPAC

Latin America

Brazil
Mexico

Middle East & Africa

Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary

1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Million)
- 1.2.1. Core Materials Market, by Region, 2020-2030 (USD Million)
- 1.2.2. Core Materials Market, by Type, 2020-2030 (USD Million)
- 1.2.3. Core Materials Market, by Application, 2020-2030 (USD Million)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

Chapter 2. Global Core Materials Market Definition and Scope

2.1. Objective of the Study
2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

Chapter 3. Global Core Materials Market Dynamics

3.1. Core Materials Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
  - 3.1.1.1. Increasing demand for lightweight components
  - 3.1.1.2. Rising demand for composites across the aerospace sector
- 3.1.2. Market Challenges
  - 3.1.2.1. Concerns associated with the sustainable production of core materials
  - 3.1.2.2. High cost of the foam
- 3.1.3. Market Opportunities
  - 3.1.3.1. Government stimulus packages and tax incentives
  - 3.1.3.2. Emergence of PET foam

Chapter 4. Global Core Materials Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
4.2. Porter's 5 Force Impact Analysis
4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion

Chapter 5. Global Core Materials Market, by Type

5.1. Market Snapshot
5.2. Global Core Materials Market by Type, Performance - Potential Analysis
5.3. Global Core Materials Market Estimates & Forecasts by Type 2020-2030 (USD Million)
5.4. Core Materials Market, Sub Segment Analysis
- 5.4.1. Foam
- 5.4.2. Honeycomb
- 5.4.3. Balsa

Chapter 6. Global Core Materials Market, by Application

6.1. Market Snapshot
6.2. Global Core Materials Market by Application, Performance - Potential Analysis
6.3. Global Core Materials Market Estimates & Forecasts by Application 2020-2030 (USD Million)
6.4. Core Materials Market, Sub Segment Analysis
- 6.4.1. Marine
- 6.4.2. Automotive
- 6.4.3. Aerospace
- 6.4.4. Energy
- 6.4.5. Construction
- 6.4.6. Industrial

Chapter 7. Global Core Materials Market, Regional Analysis

7.1. Top Leading Countries
7.2. Top Emerging Countries
7.3. Core Materials Market, Regional Market Snapshot
7.4. North America Core Materials Market
- 7.4.1. U.S. Core Materials Market
  - 7.4.1.1. Type breakdown estimates & forecasts, 2020-2030
  - 7.4.1.2. Application breakdown estimates & forecasts, 2020-2030
- 7.4.2. Canada Core Materials Market
7.5. Europe Core Materials Market Snapshot
- 7.5.1. U.K. Core Materials Market
- 7.5.2. Germany Core Materials Market
- 7.5.3. France Core Materials Market
- 7.5.4. Spain Core Materials Market
- 7.5.5. Italy Core Materials Market
- 7.5.6. Rest of Europe Core Materials Market
7.6. Asia-Pacific Core Materials Market Snapshot
- 7.6.1. China Core Materials Market
- 7.6.2. India Core Materials Market
- 7.6.3. Japan Core Materials Market
- 7.6.4. Australia Core Materials Market
- 7.6.5. South Korea Core Materials Market
- 7.6.6. Rest of Asia Pacific Core Materials Market
7.7. Latin America Core Materials Market Snapshot
- 7.7.1. Brazil Core Materials Market
- 7.7.2. Mexico Core Materials Market
7.8. Middle East & Africa Core Materials Market
- 7.8.1. Saudi Arabia Core Materials Market
- 7.8.2. South Africa Core Materials Market
- 7.8.3. Rest of Middle East & Africa Core Materials Market

Chapter 8. Competitive Intelligence

8.1. Key Company SWOT Analysis
- 8.1.1. Company 1
- 8.1.2. Company 2
- 8.1.3. Company 3
8.2. Top Market Strategies
8.3. Company Profiles
- 8.3.1. Evonik Industries AG (Germany)
  - 8.3.1.1. Key Information
  - 8.3.1.2. Overview
  - 8.3.1.3. Financial (Subject to Data Availability)
  - 8.3.1.4. Product Summary
  - 8.3.1.5. Recent Developments
- 8.3.2. Armacell International S.A. (Luxembourg)
- 8.3.3. Plascore Incorporated (U.S.)
- 8.3.4. Euro-Composites S.A. (Luxembourg)
- 8.3.5. Diab Group (Sweden)
- 8.3.6. 3A Composites (Switzerland)
- 8.3.7. Gurit Holding AG (Switzerland)
- 8.3.8. Hexcel Corporation (U.S.)
- 8.3.9. The Gill Corporation (U.S.)
- 8.3.10. Changzhou Tiansheng New Materials Co., Ltd. (China)

Chapter 9. Research Process

9.1. Research Process
- 9.1.1. Data Mining
- 9.1.2. Analysis
- 9.1.3. Market Estimation
- 9.1.4. Validation
- 9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption

LIST OF TABLES

TABLE 1. Global Core Materials Market, report scope
TABLE 2. Global Core Materials Market estimates & forecasts by Region 2020-2030 (USD Million)
TABLE 3. Global Core Materials Market estimates & forecasts by Type 2020-2030 (USD Million)
TABLE 4. Global Core Materials Market estimates & forecasts by Application 2020-2030 (USD Million)
TABLE 5. Global Core Materials Market by segment, estimates & forecasts, 2020-2030 (USD Million)
TABLE 6. Global Core Materials Market by region, estimates & forecasts, 2020-2030 (USD Million)
TABLE 7. Global Core Materials Market by segment, estimates & forecasts, 2020-2030 (USD Million)
TABLE 8. Global Core Materials Market by region, estimates & forecasts, 2020-2030 (USD Million)
TABLE 9. Global Core Materials Market by segment, estimates & forecasts, 2020-2030 (USD Million)
TABLE 10. Global Core Materials Market by region, estimates & forecasts, 2020-2030 (USD Million)
TABLE 11. Global Core Materials Market by segment, estimates & forecasts, 2020-2030 (USD Million)
TABLE 12. Global Core Materials Market by region, estimates & forecasts, 2020-2030 (USD Million)
TABLE 13. Global Core Materials Market by segment, estimates & forecasts, 2020-2030 (USD Million)
TABLE 14. Global Core Materials Market by region, estimates & forecasts, 2020-2030 (USD Million)
TABLE 15. U.S. Core Materials Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 16. U.S. Core Materials Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 17. U.S. Core Materials Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 18. Canada Core Materials Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 19. Canada Core Materials Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 20. Canada Core Materials Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 21. UK Core Materials Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 22. UK Core Materials Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 23. UK Core Materials Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 24. Germany Core Materials Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 25. Germany Core Materials Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 26. Germany Core Materials Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 27. France Core Materials Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 28. France Core Materials Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 29. France Core Materials Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 30. Italy Core Materials Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 31. Italy Core Materials Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 32. Italy Core Materials Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 33. Spain Core Materials Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 34. Spain Core Materials Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 35. Spain Core Materials Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 36. RoE Core Materials Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 37. RoE Core Materials Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 38. RoE Core Materials Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 39. China Core Materials Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 40. China Core Materials Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 41. China Core Materials Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 42. India Core Materials Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 43. India Core Materials Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 44. India Core Materials Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 45. Japan Core Materials Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 46. Japan Core Materials Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 47. Japan Core Materials Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 48. South Korea Core Materials Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 49. South Korea Core Materials Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 50. South Korea Core Materials Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 51. Australia Core Materials Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 52. Australia Core Materials Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 53. Australia Core Materials Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 54. RoAPAC Core Materials Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 55. RoAPAC Core Materials Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 56. RoAPAC Core Materials Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 57. Brazil Core Materials Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 58. Brazil Core Materials Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 59. Brazil Core Materials Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 60. Mexico Core Materials Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 61. Mexico Core Materials Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 62. Mexico Core Materials Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 63. RoLA Core Materials Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 64. RoLA Core Materials Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 65. RoLA Core Materials Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 66. Saudi Arabia Core Materials Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 67. South Africa Core Materials Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 68. RoMEA Core Materials Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 69. List of secondary sources, used in the study of global Core Materials Market
TABLE 70. List of primary sources, used in the study of global Core Materials Market
TABLE 71. Years considered for the study
TABLE 72. Exchange rates considered

List of tables and figures and dummy in nature, final lists may vary in the final deliverable

LIST OF FIGURES

FIG 1. Global Core Materials Market, research methodology
FIG 2. Global Core Materials Market, Market estimation techniques
FIG 3. Global Market size estimates & forecast methods
FIG 4. Global Core Materials Market, key trends 2022
FIG 5. Global Core Materials Market, growth prospects 2023-2030
FIG 6. Global Core Materials Market, porters 5 force model
FIG 7. Global Core Materials Market, pest analysis
FIG 8. Global Core Materials Market, value chain analysis
FIG 9. Global Core Materials Market by segment, 2020 & 2030 (USD Million)
FIG 10. Global Core Materials Market by segment, 2020 & 2030 (USD Million)
FIG 11. Global Core Materials Market by segment, 2020 & 2030 (USD Million)
FIG 12. Global Core Materials Market by segment, 2020 & 2030 (USD Million)
FIG 13. Global Core Materials Market by segment, 2020 & 2030 (USD Million)
FIG 14. Global Core Materials Market, regional snapshot 2020 & 2030
FIG 15. North America Core Materials Market 2020 & 2030 (USD Million)
FIG 16. Europe Core Materials Market 2020 & 2030 (USD Million)
FIG 17. Asia pacific Core Materials Market 2020 & 2030 (USD Million)
FIG 18. Latin America Core Materials Market 2020 & 2030 (USD Million)
FIG 19. Middle East & Africa Core Materials Market 2020 & 2030 (USD Million)