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Core Materials Market worth $1.9 billion by 2022


(EnergyIndustry.Net, March 19, 2020 ) The market size for Core Materials Market for composites is estimated to reach USD 1.9 billion by 2022, registering a CAGR of 8.7% during the forecast period. The growing demand from the wind energy and aerospace industries and the recovery of the marine sector in the US are driving the growth of this market.

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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.
The aerospace industry has witnessed several changes in components manufacturing in the past few decades, and the demand for core materials is increasing with the increasing penetration of composites in the aerospace industry. Core materials are used mainly in the manufacturing of cabin linings, ceiling panels, air ducts, overhead compartments, winglets, and fins.

Expansion of the wind energy industry is increasing the demand for foam core materials.

The foam core material segment is witnessing the highest growth in the overall market. It is also the most commonly used core material in composites due to its ready availability and low cost. The foam core material is used widely in a sandwich construction of windmill blades. These foams are used in turbine blades, nacelles, and others in the wind energy industry. The demand for lightweight and fuel-efficient vehicles in the transportation industry is also supporting the growth of the foam segment.

Don't miss out on business opportunities in Core Materials Market. Speak to Our Analyst and gain crucial industry insights that will help your business grow.

Browse in-depth TOC on "Core Materials Market”
101 - Market Data Tables
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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.

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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About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.


Mr. Sanjay Gupta


Source: EmailWire.Com

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