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

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    Report

  • 260 Pages
  • March 2024
  • Region: Global
  • Markets and Markets
  • ID: 5062090
Description Jump to:
The core materials market size is USD 1.6 billion in 2023 and is estimated to reach USD 3.0 billion by 2028, at a CAGR of 13.5%, during the forecast period. With important properties including thickness, high stiffness, and low density, core materials are integral parts of sandwich structure composites. Composite layers that encircle these key components provide the construction more strength overall. The remarkable combination of low weight and high strength of core materials has led to their broad acceptance in a variety of end-use sectors. The growing demand for core materials across a range of industries is fueled by the growing awareness of their advantages. The major growth observed in the wind energy segment to boost the market for core materials during the forecast period.

Foam core materials holds the largest share in core materials market in 2022.

Foam core materials dominate the core materials market, capturing the largest share among its counterparts. Foam core materials are the material of choice in many different industries because of its adaptability, durability, and affordability. They are essential in sandwich composite constructions because they can give thickness and high stiffness with low density. Different varieties of foam, including PET, PVC, SAN, PMI, and PEI, provide customized solutions to fulfill specific application requirements within this market segment. Of them, PET foam is especially notable because it is made from recycled PET bottles and is renowned for both its outstanding performance and its environmentally friendly qualities. Foam core materials' remarkable qualities and wide range of uses help to drive innovation in the core materials industry and satisfy the changing needs of contemporary industries.

Wind energy is the largest and the fastest growing end-use industry of core materials market, in terms of value and volume both.

The wind energy sector emerges as the largest and fastest-growing segment within the core materials market in terms of value and volume. Wind power has gained a lot of traction because of the global push for renewable energy sources, which has increased demand for essential components. The construction of wind turbine components, especially rotor blades, nacelles, and spinners, depends heavily on core materials because of their lightweight, robust nature, which maximizes energy extraction and ensures structural integrity. The demand for core materials is being further driven by the increasing expenditures made in wind energy infrastructure as governments across the world undertake steps to cut carbon emissions and shift to cleaner energy sources. This strong growth trajectory highlights how important the wind energy industry is to the core materials market as it drives the transition to a more ecologically friendly and sustainable future.

Asia Pacific region to dominate the core materials market during forecasted period.

During the forecasted period, the Asia Pacific region emerges as the largest market in the core material industry. The adoption of renewable energy is being driven by nations like China, India, and Japan, which is driving an unprecedented increase in the region's need for core materials. Because of aggressive goals for producing clean energy and initiatives to allay environmental worries, wind energy in particular has drawn the attention of both governments and investors. The construction of wind farms throughout the Asia-Pacific area is driving up demand for core materials, particularly for the manufacturing of wind turbine components such as rotor blades.

This study has been validated through primary interviews conducted with various industry experts, globally. These primary sources have been divided into the following three categories:

  • By Company Type - Tier 1 - 40%, Tier 2 - 33%, and Tier 3 - 27%
  • By Designation - C Level - 50%, Director Level - 30%, and Executives - 20%
  • By Region - North America - 15%, Europe - 50%, Asia Pacific - 20%, Middle East & Africa (MEA) - 10%, Latin America - 10%

The report provides a comprehensive analysis of company profiles listed below:

  • 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)
  • Evonik Industries AG (Germany)
  • The Gill Corporation(US)
  • Plascore Inc. (US)

Research Coverage

This report covers the global core materials market and forecasts the market size until 2028. The report includes the following market segmentation: Type (foam, honeycomb, and balsa), End-use Industry (wind energy, aerospace & defense, marine, automotive & transportation, construction, and industrial), and Region (Europe, North America, Asia Pacific, and Rest of the world). Porter’s Five Forces analysis, along with the drivers, restraints, opportunities, and challenges, have been discussed in the report. It also provides company profiles and competitive strategies adopted by the major players in the global core materials market.

Key benefits of buying the report:

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall core material market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

  • Analysis of factors influencing the growth of the core material market key drivers (Demand for core materials in wind turbine blades and solar panels, increasing demand of core materials in aerospace sector, Imperative to improve fuel efficiency, Need for end-use industries to lower carbon emissions)
  • Restraints (High cost of materials in cost-sensitive industries, Difficulty in recycling core materials)
  • Opportunities (Growing demand for core materials in medical industry and 3D printing, Evolving industrial requirements)
  • Challenges (Developing low-cost technologies, High R&D cost)
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the core material market
  • Market Development: Comprehensive information about lucrative markets - the report analyses the core material market across varied regions.
  • Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the core material market
  • Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like 3A Composites (Switzerland), Diab Group (Sweden), Gurit (Switzerland), Hexcel Corporation (US), Armacell (Luxembourg), Euro-Composites S.A. (Luxembourg), Changzhou Tiansheng New Materials Co. Ltd. (China), and The Gill Corporation (US). among others in the core material market.

Table of Contents

1 Introduction
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
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
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
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 Material 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
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 Material 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 Material 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
6.1 Introduction
Figure 39 Foam Type to Dominate Core Material Market During Forecast Period
Table 16 Core Material Market, by Type, 2020-2022 (USD Million)
Table 17 Core Material Market, by Type, 2020-2022 (Kiloton)
Table 18 Core Material 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 Material Market, by Region, 2020-2022 (USD Million)
Table 21 Foam: Core Material Market, by Region, 2020-2022 (Kiloton)
Table 22 Foam: Core Material Market, by Region, 2023-2028 (USD Million)
Table 23 Foam: Core Material Market, by Region, 2023-2028 (Kiloton)
Table 24 Foam: Core Material Market, by Foam Type, 2020-2022 (USD Million)
Table 25 Foam: Core Material Market, by Foam Type, 2020-2022 (Kiloton)
Table 26 Foam: Core Material Market, by Foam Type, 2023-2028 (USD Million)
Table 27 Foam: Core Material Market, by Foam Type, 2023-2028 (Kiloton)
6.2.2 Pet Foam
Table 28 Pet Foam: Core Material Market, by Region, 2020-2022 (USD Million)
Table 29 Pet Foam: Core Material Market, by Region, 2020-2022 (Kiloton)
Table 30 Pet Foam: Core Material Market, by Region, 2023-2028 (USD Million)
Table 31 Pet Foam: Core Material Market, by Region, 2023-2028 (Kiloton)
6.2.3 Pvc Foam
Table 32 Pvc Foam: Core Material Market, by Region, 2020-2022 (USD Million)
Table 33 Pvc Foam: Core Material Market, by Region, 2020-2022 (Kiloton)
Table 34 Pvc Foam: Core Material Market, by Region, 2023-2028 (USD Million)
Table 35 Pvc Foam: Core Material Market, by Region, 2023-2028 (Kiloton)
6.2.4 San Foam
Table 36 San Foam: Core Material Market, by Region, 2020-2022 (USD Million)
Table 37 San Foam: Core Material Market, by Region, 2020-2022 (Kiloton)
Table 38 San Foam: Core Material Market, by Region, 2023-2028 (USD Million)
Table 39 San Foam: Core Material Market, by Region, 2023-2028 (Kiloton)
6.2.5 Pmi Foam
Table 40 Pmi Foam: Core Material Market, by Region, 2020-2022 (USD Million)
Table 41 Pmi Foam: Core Material Market, by Region, 2020-2022 (Kiloton)
Table 42 Pmi Foam: Core Material Market, by Region, 2023-2028 (USD Million)
Table 43 Pmi Foam: Core Material Market, by Region, 2023-2028 (Kiloton)
6.2.6 Pei Foam
Table 44 Pei Foam: Core Material Market, by Region, 2020-2022 (USD Million)
Table 45 Pei Foam: Core Material Market, by Region, 2020-2022 (Kiloton)
Table 46 Pei Foam: Core Material Market, by Region, 2023-2028 (USD Million)
Table 47 Pei Foam: Core Material Market, by Region, 2023-2028 (Kiloton)
6.2.7 Other Foams
Table 48 Other Foams: Core Material Market, by Region, 2020-2022 (USD Million)
Table 49 Other Foams: Core Material Market, by Region, 2020-2022 (Kiloton)
Table 50 Other Foams: Core Material Market, by Region, 2023-2028 (USD Million)
Table 51 Other Foams: Core Material 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 Material Market, by Type, 2020-2022 (USD Million)
Table 53 Honeycomb: Core Material Market, by Type, 2020-2022 (Kiloton)
Table 54 Honeycomb: Core Material Market, by Type, 2023-2028 (USD Million)
Table 55 Honeycomb: Core Material Market, by Type, 2023-2028 (Kiloton)
Table 56 Honeycomb: Core Material Market, by Region, 2020-2022 (USD Million)
Table 57 Honeycomb: Core Material Market, by Region, 2020-2022 (Kiloton)
Table 58 Honeycomb: Core Material Market, by Region, 2023-2028 (USD Million)
Table 59 Honeycomb: Core Material 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 Material Market, by Region, 2020-2022 (USD Million)
Table 61 Balsa: Core Material Market, by Region, 2020-2022 (Kiloton)
Table 62 Balsa: Core Material Market, by Region, 2023-2028 (USD Million)
Table 63 Balsa: Core Material Market, by Region, 2023-2028 (Kiloton)
7 Core Material Market, by End-use Industry
7.1 Introduction
Figure 43 Wind Energy to be Fastest-Growing End-use Industry During Forecast Period
Table 64 Core Material Market, by End-use Industry, 2020-2022 (USD Million)
Table 65 Core Material Market, by End-use Industry, 2020-2022 (Kiloton)
Table 66 Core Material Market, by End-use Industry, 2023-2028 (USD Million)
Table 67 Core Material 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 Material Market in Wind Energy Segment
Table 68 Wind Energy: Core Material Market, by Region, 2020-2022 (USD Million)
Table 69 Wind Energy: Core Material Market, by Region, 2020-2022 (Kiloton)
Table 70 Wind Energy: Core Material 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 Material Market, by Region, 2020-2022 (USD Million)
Table 73 Aerospace & Defense: Core Material Market, by Region, 2020-2022 (Kiloton)
Table 74 Aerospace & Defense: Core Material Market, by Region, 2023-2028 (USD Million)
Table 75 Aerospace & Defense: Core Material 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 Material Market, by Region, 2020-2022 (USD Million)
Table 77 Marine Industry: Core Material Market, by Region, 2020-2022 (Kiloton)
Table 78 Marine Industry: Core Material Market, by Region, 2023-2028 (USD Million)
Table 79 Marine Industry: Core Material 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 Material Market, by Region, 2020-2022 (USD Million)
Table 81 Automotive & Transportation: Core Material Market, by Region, 2020-2022 (Kiloton)
Table 82 Automotive & Transportation: Core Material Market, by Region, 2023-2028 (USD Million)
Table 83 Automotive & Transportation: Core Material Market, by Region, 2023-2028 (Kiloton)
7.6 Construction
7.6.1 Increasing Demand for Prefabricated Material to Drive Market
Table 84 Construction: Core Material Market, by Region, 2020-2022 (USD Million)
Table 85 Construction: Core Material Market, by Region, 2020-2022 (Kiloton)
Table 86 Construction: Core Material Market, by Region, 2023-2028 (USD Million)
Table 87 Construction: Core Material 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 Material Market, by Region, 2020-2022 (USD Million)
Table 89 Industrial: Core Material Market, by Region, 2020-2022 (Kiloton)
Table 90 Industrial: Core Material Market, by Region, 2023-2028 (USD Million)
Table 91 Industrial: Core Material Market, by Region, 2023-2028 (Kiloton)
7.8 Other End-use Industries
Table 92 Other End-use Industries: Core Material 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: Core Material Market, by Region, 2023-2028 (USD Million)
Table 95 Other End-use Industries: Core Material Market, by Region, 2023-2028 (Kiloton)
8 Core Material Market, by Region
8.1 Introduction
Figure 45 China to Record Fastest Market Growth During Forecast Period
Table 96 Core Material Market, by Region, 2020-2022 (USD Million)
Table 97 Core Material Market, by Region, 2020-2022 (Kiloton)
Table 98 Core Material 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 Material 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: Core Material Market, by End-use Industry, 2020-2022 (Kiloton)
Table 102 North America: Core Material Market, by End-use Industry, 2023-2028 (USD Million)
Table 103 North America: Core Material Market, by End-use Industry, 2023-2028 (Kiloton)
8.2.3 North America, by Type
Table 104 North America: Core Material Market, by Type, 2020-2022 (USD Million)
Table 105 North America: Core Material Market, by Type, 2020-2022 (Kiloton)
Table 106 North America: Core Material Market, by Type, 2023-2028 (USD Million)
Table 107 North America: Core Material Market, by Type, 2023-2028 (Kiloton)
8.2.4 North America, by Country
Table 108 North America: Core Material Market, by Country, 2020-2022 (USD Million)
Table 109 North America: Core Material Market, by Country, 2020-2022 (Kiloton)
Table 110 North America: Core Material Market, by Country, 2023-2028 (USD Million)
Table 111 North America: Core Material 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 Material 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: Core Material Market, by End-use Industry, 2023-2028 (USD Million)
Table 115 US: Core Material 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 Material 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: Core Material Market, by End-use Industry, 2023-2028 (USD Million)
Table 119 Canada: Core Material Market, by End-use Industry, 2023-2028 (Kiloton)
8.3 Europe
8.3.1 Impact of Recession
Figure 47 Europe: Core Material Market Snapshot
8.3.2 Europe, by End-use Industry
Table 120 Europe: Core Material Market, by End-use Industry, 2020-2022 (USD Million)
Table 121 Europe: Core Material Market, by End-use Industry, 2020-2022 (Kiloton)
Table 122 Europe: Core Material Market, by End-use Industry, 2023-2028 (USD Million)
Table 123 Europe: Core Material Market, by End-use Industry, 2023-2028 (Kiloton)
8.3.3 Europe, by Type
Table 124 Europe: Core Material Market, by Type, 2020-2022 (USD Million)
Table 125 Europe: Core Material Market, by Type, 2020-2022 (Kiloton)
Table 126 Europe: Core Material Market, by Type, 2023-2028 (USD Million)
Table 127 Europe: Core Material Market, by Type, 2023-2028 (Kiloton)
8.3.4 Europe, by Country
Table 128 Europe: Core Material Market, by Country, 2020-2022 (USD Million)
Table 129 Europe: Core Material Market, by Country, 2020-2022 (Kiloton)
Table 130 Europe: Core Material Market, by Country, 2023-2028 (USD Million)
Table 131 Europe: Core Material 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 Material 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: Core Material Market, by End-use Industry, 2023-2028 (USD Million)
Table 135 Germany: Core Material 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 Material 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: Core Material Market, by End-use Industry, 2023-2028 (USD Million)
Table 139 France: Core Material 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 Material 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: Core Material Market, by End-use Industry, 2023-2028 (USD Million)
Table 143 Uk: Core Material 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 Material 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: Core Material Market, by End-use Industry, 2023-2028 (USD Million)
Table 147 Italy: Core Material 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 Material 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: Core Material Market, by End-use Industry, 2023-2028 (USD Million)
Table 151 Spain: Core Material 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 Material 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: Core Material Market, by End-use Industry, 2023-2028 (USD Million)
Table 155 Turkey: Core Material Market, by End-use Industry, 2023-2028 (Kiloton)
8.3.4.7 Rest of Europe
Table 156 Rest of Europe: Core Material 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: Core Material Market, by End-use Industry, 2023-2028 (USD Million)
Table 159 Rest of Europe: Core Material Market, by End-use Industry, 2023-2028 (Kiloton)
8.4 Asia-Pacific
8.4.1 Impact of Recession
Figure 48 Asia-Pacific: Core Material Market Snapshot
8.4.2 Asia-Pacific: Core Material Market, by Type
Table 160 Asia-Pacific: Core Material Market, by Type, 2020-2022 (USD Million)
Table 161 Asia-Pacific: Core Material Market, by Type, 2020-2022 (Kiloton)
Table 162 Asia-Pacific: Core Material Market, by Type, 2023-2028 (USD Million)
Table 163 Asia-Pacific: Core Material Market, by Type, 2023-2028 (Kiloton)
8.4.3 Asia-Pacific: Core Material Market, by End-use Industry
Table 164 Asia-Pacific: Core Material Market, by End-use Industry, 2020-2022 (USD Million)
Table 165 Asia-Pacific: Core Material Market, by End-use Industry, 2020-2022 (Kiloton)
Table 166 Asia-Pacific: Core Material Market, by End-use Industry, 2023-2028 (USD Million)
Table 167 Asia-Pacific: Core Material Market, by End-use Industry, 2023-2028 (Kiloton)
8.4.4 Asia-Pacific: Core Material Market, by Country
Table 168 Asia-Pacific: Core Material Market, by Country, 2020-2022 (USD Million)
Table 169 Asia-Pacific: Core Material Market, by Country, 2020-2022 (Kiloton)
Table 170 Asia-Pacific: Core Material Market, by Country, 2023-2028 (USD Million)
Table 171 Asia-Pacific: Core Material 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 Material 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: Core Material Market, by End-use Industry, 2023-2028 (USD Million)
Table 175 China: Core Material 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 Material 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: Core Material Market, by End-use Industry, 2023-2028 (USD Million)
Table 179 Japan: Core Material 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 Material 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: Core Material Market, by End-use Industry, 2023-2028 (USD Million)
Table 183 India: Core Material 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 Material 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: Core Material Market, by End-use Industry, 2023-2028 (USD Million)
Table 187 Australia: Core Material Market, by End-use Industry, 2023-2028 (Kiloton)
8.4.4.5 Rest of Asia-Pacific
Table 188 Rest of Asia-Pacific: Core Material 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: Core Material Market, by End-use Industry, 2023-2028 (USD Million)
Table 191 Rest of Asia-Pacific: Core Material 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 Material Market Snapshot
8.5.2 Rest of World: Core Material Market, by Type
Table 192 Rest of World: Core Material Market, by Type, 2020-2022 (USD Million)
Table 193 Rest of World: Core Material Market, by Type, 2020-2022 (Kiloton)
Table 194 Rest of World: Core Material Market, by Type, 2023-2028 (USD Million)
Table 195 Rest of World: Core Material Market, by Type, 2023-2028 (Kiloton)
8.5.3 Rest of World: Core Material Market, by End-use Industry
Table 196 Rest of World: Core Material Market, by End-use Industry, 2020-2022 (USD Million)
Table 197 Rest of World: Core Material Market, by End-use Industry, 2020-2022 (Kiloton)
Table 198 Rest of World: Core Material Market, by End-use Industry, 2023-2028 (USD Million)
Table 199 Rest of World: Core Material Market, by End-use Industry, 2023-2028 (Kiloton)
8.5.4 Rest of World: Core Material Market, by Country
Table 200 Rest of World: Core Material Market, by Country, 2020-2022 (USD Million)
Table 201 Rest of World: Core Material Market, by Country, 2020-2022 (Kiloton)
Table 202 Rest of World: Core Material Market, by Country, 2023-2028 (USD Million)
Table 203 Rest of World: Core Material 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 Material 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: Core Material Market, by End-use Industry, 2023-2028 (USD Million)
Table 207 Brazil: Core Material 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 Material 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: Core Material Market, by End-use Industry, 2023-2028 (USD Million)
Table 211 Mexico: Core Material Market, by End-use Industry, 2023-2028 (Kiloton)
8.5.4.3 Rest of RoW Countries
Table 212 Rest of RoW Countries: Core Material 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: Core Material Market, by End-use Industry, 2023-2028 (USD Million)
Table 215 Rest of RoW Countries: Core Material Market, by End-use Industry, 2023-2028 (Kiloton)
9 Competitive Landscape
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 Material 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 Material 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 Material 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 Material 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 Material 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 Material 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 Material Market: Expansions, January 2020-January 2024
10 Company Profiles
(Business Overview, Products/Solutions/Services Offered, Recent Developments, and Analyst's 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 Analyst's 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
11.1 Discussion Guide
11.2 Knowledgestore: The Subscription Portal
11.3 Customization Options

Companies Mentioned

  • Gurit Holdings AG
  • Hexcel Corporation
  • 3A Composites
  • Evonik Industries AG
  • Armacell
  • Diab Group
  • The Gill Corporation
  • Euro-Composites
  • Changzhou Tiansheng New Materials Co. Ltd.
  • Plascore Inc.
  • Toray Industries, Inc.
  • Corelite
  • Sicomin
  • I-Core Composites
  • Maricell Core Composites
  • Showa Aircraft Industry Co. Ltd
  • Tccore Applied Honeycomb Technology Co. Ltd.
  • Saertex GmbH & Co.KG
  • Relcore Composites Inc.
  • Polyumac Usa, LLC
  • Carbon-Core Corp.
  • Tasuns Composite Technology Co. Ltd
  • Dongying Horizon Composite Co. Ltd.
  • Zhejiang Youwei New Materials Co. Ltd.
  • Nmg Europe Srl
  • Nagoya Core Co. Ltd.
  • Argosy International Inc.
  • Econcore

Methodology

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Table Information

Report AttributeDetails
No. of Pages260
PublishedMarch 2024
Forecast Period2023 - 2028
Estimated Market Value ( USD ) in 2023 $ 1.6 Billion
Forecasted Market Value ( USD ) by 2028 $ 3 Billion
Compound Annual Growth Rate13.5%
Regions CoveredGlobal
No. of Companies Mentioned28

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About the Core Material Market

The Core Material market within the context of Composites is a specialized sector of the composites industry. Core materials are used to provide stiffness and strength to composite structures, and are typically made from lightweight materials such as foam, honeycomb, and balsa wood. Core materials are used in a variety of applications, including aerospace, automotive, marine, and wind energy. Core materials are typically used in sandwich structures, which are composed of two thin, stiff face sheets and a lightweight core material. This type of construction provides a lightweight, yet strong and stiff structure. Core materials are also used in other composite structures, such as laminates and honeycomb panels. The Core Material market is highly competitive, with a variety of companies offering a range of products. Major players in the market include Hexcel, Gurit, CoreLite, and Euro-Composites. Other companies in the market include Plascore, Corex Honeycomb, and Airex AG. Show Less Read more

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