Structural Core Materials Market Size Predicted to Increase at a Positive CAGR Of 8.8% from 2022 to 2031

Key Companies Covered in the Structural Core Materials Market Research are Diab Group (Sweden), Hexcel Corporation (US), Schweiter Technologies (Switzerland), Euro Composites (Luxembourg), Gurit Holding (Switzerland), and other key market players.

“Increasing demand for lightweight and high strength materials to drive the structural core materials market”

The global structural core materials market is projected to grow from USD 1.52 billion in 2022 to USD 2.32 billion by 2031, at a CAGR of 8.8% during the forecast period. The growing demand from the wind energy industry, increasing use of composites in the aerospace industry, and recovery of the marine sector in the US are the major factors fueling the growth of global structural core materials market. However, structural core materials is a highly intensive market which is the main barrier to entry of new players. In addition, delay and uncertainty in the renewal of Production Tax Credit (PTC) are restraining the growth of the market.

“Wind energy is the fastest-growing end-use industry of structural core materials”

Wind energy is a key solution to energy security, air pollution, and price stability. This is driving the demand for structural core materials in this industry. As per the GWEC, in 2016, there were commercial wind power installations in more than 90 countries, with a total installed capacity of 486 GW. The rapid growth of the wind energy industry in China, India, and other countries is driving the demand for structural core materials at a significant rate.

“APAC is the fastest-growing market and North America is the largest market”

APAC is the fastest-growing structural core materials market. The rising demand for high-performance materials from the wind energy and aerospace industries and increasing expansion and other developmental strategies being undertaken in the region are factors leading to the growth of the structural core materials market in APAC. China dominated the structural core materials market in APAC, accounting for more than half of the demand for structural core materials in the region in 2016. Increase in the number of installations of wind energy turbines in 2016 and high-speed rail projects are driving the demand for structural core materials in the country.

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The structural core materials market in North America is diversified having the presence of large established players such as Hexcel Corporation (US) and The Gill Corporation (US). These companies are accelerating their efforts to be in line with the market trends. The growth of the structural core materials market in the region is mainly driven by the aerospace and marine industries. The region is a leading market for honeycomb structural core production. The key players in this market are some of the major honeycomb manufacturers, globally.

The market figures presented in this report have been validated through primary interviews conducted with various industry experts, globally.

These primary sources have been divided into three categories:

  • By Company Type- Tier 1- 35%, Tier 2- 25%, and Tier 3- 40%
  • By Designation- C Level- 30%, D Level- 25%, and Others- 45%
  • By Region- APAC- 33%, North America- 29%, Europe- 24%, MEA- 9%, and Latin America (5%)

The report also provides company profiles and competitive strategies adopted by major market players.

Various key players profiled in the report are as follows:

  •  Diab Group (Sweden)
  •  Hexcel Corporation (US)
  •  Schweiter Technologies (Switzerland)
  •  Euro Composites (Luxembourg)
  •  Gurit Holding (Switzerland)
  •  The Gill Corporation (US)
  •  Changzhou Tiansheng New Materials Co. Ltd. (China)
  •  Plascore Incorporated (US)
  •  Armacell International (Luxembourg)
  •  Evonik Industries (Germany)

Research Coverage:

The report covers the global structural core materials market and the use of structural core materials in various end-use industries, such as aerospace, wind energy, marine, transportation, and construction. It aims at estimating the market size and future growth potential of this market across different segments, such as type, outer skin type, end-use industry, and region. Furthermore, the report also includes an in-depth competitive analysis of key players in the market along with their company profiles, product offerings, recent developments, and key market strategies.

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Reasons to buy the report:

The report will help market leaders/new entrants in this market by providing them the closest approximations of the revenues for the overall structural core materials market and subsegments. This report will help stakeholders to understand competitive landscape better and gain more insights to better position their businesses and market strategies. The report also helps stakeholders to understand the pulse of the market and provides the information on key market drivers, restraints, challenges, and opportunities.

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