Lucintel Forecasts Core Material Market To Reach $2 Billion By 2028

By Author: Lucintel LLC
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According to the recent study the core material market is projected to reach an estimated $2 billion by 2028 from $1 billion in 2022, at a CAGR of 8.6% from 2022 to 2028. Growth in this market is primarily driven by increasing use in production of boats, in transportation, wind turbines blades, and structural composite panels.
Browse 107 figures/charts and 82 tables in this 212-page report to understand trends, opportunities and forecast in core material market by end use (wind energy, marine, construction, aerospace and defense, transportation, and others), product type (balsa core, honeycomb, and foam core) and region (North America, Europe, Asia Pacific, and the Rest of the World).
“Wind energy market is expected to remain the largest segment during the forecast period.”
Based on end use, the core material market is segmented into wind energy, marine, construction, aerospace and defense, transportation, and others. Lucintel forecasts that the wind energy market is expected to remain the largest segment due to increase in the diameter of rotors is driving the demand for core materials in this industry.
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... “Within the core material market, the foam core segment is expected to remain the largest product type.”
Based on product type the foam core segment is expected to witness the highest growth over the forecast period due to its superior mechanical properties.
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“Asia pacific will dominate the core material market in near future.”
Asia Pacific is expected to remain the largest market over the forecast period due to rising demand from electronics and defense industries, growth in the end uses and increasing focus on high performance core material. Europe is expected to witness the highest growth rate over the forecast period.
Major players of core material market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. DIAB, Gurit, 3A Composites, Armacell, Hexcel Corporation, The Gill Corporation, and Euro Composites are among the major core material providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1 972.636.5056
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