The Aerospace Industry Leads the Core Materials Market for Composites

Core Materials Market for composites is projected to grow from USD 1.17 Billion in 2016 to USD 1.92 Billion by 2022, at a CAGR of 8.77% between 2017 and 2022. The use of core materials is becoming crucial in wind energy, aerospace, marine, transportation, construction, and other industries. Furthermore, core material manufacturers are signing supply agreements with various end-use industries to secure their position in the core materials market for composites.

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Some of the leading manufacturers of core materials for composites include Diab Group (Sweden), Hexcel Corporation (US), 3A Composites (Switzerland), Euro-Composites S.A. (Luxembourg), Gurit Holding AG (Switzerland), The Gill Corporation (US), Changzhou Tiansheng New Materials Co. Ltd. (China), Plascore Incorporated (US), Armacell International S.A. (Luxembourg), and Evonik Industries AG (Germany). These players adopted various organic and inorganic developmental strategies.

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The aerospace industry leads the core materials market for composites

The aerospace industry is estimated to be the largest end-use industry of the core materials market for composites. It is also projected to be one of the fastest-growing end users. This dominance is attributed to high demand for honeycomb core materials from next-generation aircraft.

Asia Pacific is witnessing high growth within the core materials market.

Asia Pacific is projected to be the fastest-growing market for core materials for composite between 2017 and 2022. In terms of volume, the region is the largest market. However, North America is the largest market in terms of value. The market in Asia Pacific is driven significantly by the rapid expansion of the wind energy industry. Various leading players are investing in the region due to the easy availability of raw materials, low labor costs, and the growth of manufacturing industries.

Core Materials Market for Composites is Expected to Reach Worth 1.92 Billion USD by 2022

[164 Pages Report] on Core Materials Market for composites is projected to grow from USD 1.17 Billion in 2016 to USD 1.92 Billion by 2022, at a CAGR of 8.77% between 2017 and 2022. The use of core materials is becoming crucial in wind energy, aerospace, marine, transportation, construction, and other industries. Furthermore, core material manufacturers are signing supply agreements with various end-use industries to secure their position in the core materials market for composites.

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Some of the leading manufacturers are Diab Group (Sweden), Hexcel Corporation (U.S.), 3A Composites (Switzerland), Euro-Composites S.A. (Luxembourg), Gurit Holding AG (Switzerland), The Gill Corporation (U.S.), Changzhou Tiansheng New Materials Co. Ltd. (China), Plascore Incorporated (U.S.), Armacell International S.A. (Luxembourg), and Evonik Industries AG (Germany). These players adopted various organic and inorganic developmental strategies between 2011 and 2017.



By Type:

• Foam
• Honeycomb
• Balsa

By End-Use Industry:

• Aerospace
• Wind Energy
• Marine
• Transportation
• Construction
• Others

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Increase in use of honeycomb core materials in the aerospace industry expected to drive the core materials market for composites

The aerospace end-use industry segment led the core materials market for composites, in terms of value, in 2016. This can be attributed to the high demand for honeycomb core materials from the next generation aircraft. The aerospace industry has witnessed several changes in its components manufacturing in the past few decades. The use of wood and metal for manufacturing aircraft components has been replaced by various lightweight composites. Thus, the demand for core materials is increasing with the increasing penetration of composites in the aerospace industry. Some of the aircraft components manufactured using core materials are cabin linings, ceiling panels, air ducts, overhead compartments, winglets, and fins.

Based on type, the foam segment is estimated to lead the core materials market for composites during the forecast period

Foam is the most common core material used in composites due to its easy availability and low cost. Foam core materials are used in sandwich construction of windmill blades, and they impart strength and stiffness while keeping the composite structure lightweight. The PVC, PET, and SAN foam are the most popular core materials used in wind energy turbines. These foams are used in various applications, such as wind energy blades and nacelles, among others, depending on their resin compatibility, temperature, manufacturing aspects, and costs. The demand for lightweight and fuel-efficient vehicles in the transportation industry is also driving the demand for foam. Moreover, they are used in various end-use industries, including marine.

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