Core Materials Market- Growth Opportunities by Manufacturers, Regions, Type and Application; Trends Forecast to 2030

on



In aerospace and wind energy equipment, core materials are used to improve the strength of the materials. Core materials are usually frail materials; however a high bending rigidity with low density is given to this sandwich compound by its greater thickness. In a broad range of industries like automotive, marine and wind energy, core materials are used. With an equal cover positioning on both the sides of the core material to ensure maximum advantage, it is interjected between two layers of reinforcement, therefore adhering it in.

The recovery of the U.S. marine sector from economic recession and considerable demand from aerospace & wind energy industries are some of the main drivers for the core materials market, among many others. However, the growth of market to some extend is hampered due to the growing number of alternatives for core materials.

Core Materials Market Taxonomy

Based on type, the core materials market is divided into:

  • Foam
  • PET Foam
  • SAN Foam
  • PVC Foam
  • Aramid
  • Honeycomb
  • Aluminium
  • Balsa
  • Thermoplastic
  • Others

Based on end-use industry, the core materials market is divided into:

  • Marine
  • Aerospace
  • Wind energy
  • Construction
  • Transportation
  • Others

The volume to weight ratio of the foam is increased by the air captured inside the foam, in PVC foam which is a polymer foam. A thermal resistant lightweight foam is PET which is of high strength. With impact resistance and great strength SAN is a thermoplastic core of circular structure. From low rigidity and strength to high rigidity and strength, Honeycomb are the core materials available in a broad range. These core materials can be utilized for the internal doors for domestic usage and for aircrafts as well.

Core Materials Market Outlook

Over the forecast period the biggest market share is expected to be held by North America. The demand in this region for lightweight core materials is driven by the presence of aerospace original equipment manufacturers. Apart from this, the high number of installations of wind turbine, drives the North American market growth.

For the core materials market, the fastest growing region is estimated to be Asia Pacific. During the forecast period the core materials market in the region of Asia Pacific is expected to see excessive growth. Due to considerable usage of core materials in wind energy and aerospace industries, majorly in China and India, this growth rate has been forecasted.

The lightweight core materials are in considerable demand in Europe because of its usage in the aerospace industry. Moreover, for various developments in infrastructure, Europe, which is one of the most captivating tourist destinations, is expected to witness a high growth in demand of core materials.

The market in the Latin America has witnessed a slowdown due to the existence of political turmoil in major markets of Brazil, Argentina, Venezuela and Colombia. On the contrary, over the forecast period, the African market is expected to witness high growth rate due to the forecasted economic growth in the region.

Key Developments

  • Evonik Industries, in March 2018, launched its new core material solution named ROCHACRYL which is an acrylic based structural foam for compound applications. This new solution has superb mechanical properties and is environment friendly, lightweight and thermally stable as well. To manufacture turbine blades in wind energy industry, this product is launched.
  • A contract for five years for supply of core material was signed between Diab Group and Vestas Wind Systems A/S (OEM for wind turbines), in September 2019. During the contract period the supply of core material is estimated to offer Diab Group, net sales of US$ 220-275 million.
  • In 2016, in Italy, BASF’s PET structural foam business was acquired by Gurit Holding AG. Capacity of PET production of Gurit Holding AG will increase in Europe with the help of this acquisition. Gurit, will be able to expand its structural core material product range as well, due to this.
  • In March 2018, in Casablanca a new manufacturing plant was opened by Hexcel Corporation. In this manufacturing unit, lightweight honeycomb materials will be converted into core parts for usage in engineering which will be utilized for aerospace applications that includes helicopter blades, aircraft structures and engine nacelles.

Varied organic and inorganic strategies are adopted by the major players of the core materials market for their endurance in the market. In the core materials market few of the market players are Plascore Incorporated, The Gill Corporation, Euro-Composites S.A., Changzhou Tiansheng New Materials Co. Ltd, 3A Composites,  Armacell International S.A., Hexcel Corporation, Gurit Holding AG, Diab Group (Ratos) and Evonik Industries AG.

Comments

Post a Comment