According to the new market research report “Core Materials Market for Composites by Type (Foam, Honeycomb, and Balsa), End-Use Industry (Aerospace, Wind Energy, Marine, Transportation, Construction), and Region – Global Forecasts to 2022″, published by MarketsandMarkets™, The 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.
Core Materials Market: Browse 101 Market Data Tables and 52 Figures spread through 164 Pages
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Core materials are extensively used in composite laminates, as they aid in increasing a laminate’s stiffness and decreasing its density. The demand for core materials is increasing significantly with the increasing penetration of composites in various end-use industries, such as aerospace, wind energy, marine, transportation, construction, and others.
Prominent players in the core materials market for composites majorly adopted the strategy of agreements to enhance their network of customers in the aerospace industry. For instance, the Gill Corporation (U.S.) signed a new consignment agreement in February 2017, with the Dubai-based company, Fly Dubai. This agreement would increase the company’s revenue in the aerospace industry. In March 2017, Diab Group (Sweden) and Diehl Aircabin (Germany) signed a long-term agreement for the technological development of several cabin applications in Airbus 350 XWB and Boeing 777 using Divinycell F. This step is a strategic development to increase its share in the aerospace market.
Major core material 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). Diab Group (Sweden) and Hexcel Corporation (U.S.) are the most active players in the core materials market for composites. These companies adopted various strategies to enhance their market shares in the global core materials market for composites between 2017 and 2022.
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