Balsa Wood Market 2018 | Industry Share, Size to Grow at a CAGR of 5.89 % and to generate huge revenue during 2018-2023

Global Balsa Wood Market 2018 Industry Research Report provides important statistics, analytical and comparative data to give a complete understanding of the market Size, Share, Growth, Rising Trends, Sales Revenue, Sales Volume, Price, Cost Structure and Cost Margin analysis.

Global balsa wood market was valued at USD 146.53 million in 2016 and is expected to grow at 5.89% CAGR to reach USD 217.26 million by the end of 2023

Market Highlights:
The balsa wood market is gaining traction across the globe, owing to the low density of wood, making balsa the lightest commercial timber available in the market. By type, ‘Grain B’ segment has accounted for a larger market share due to its combine property of ‘Grain A’ and ‘Grain C’ type of wood. ‘Grain C’ type on balsa market is estimated to grow at CAGR of 5.88%, during the forecast period as it is regarded as the most aesthetically pleasing.

Major Players in the global balsa wood market includes: 3A Composites (Switzerland) , Gurit (Spain), DIAB International AB (Sweden), The PNG Balsa Company Ltd (Papua New Guinea), The Gill Corporation (U.S.), CoreLite Inc (U.S.) and SINOKIKO BALSA TRADING CO., LTD (China) among others.

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Segment Analysis
The global balsa wood market is segmented on the basis of type, application and region. On the basis of type, the market is segmented into ‘Grain A’, ‘Grain B’, and ‘Grain C’ balsa wood. Based on the application, the global balsa wood market is divided into aerospace & defense, renewable energy, marine, rail & road, industrial & construction among others.

Key Findings
The global balsa wood market is projected to reach USD 217.26 million by 2023 with 5.98% CAGR growth rate during the review period of 2017-2023. The ‘Grain B’ balsa wood by type has acquired nearly 41% share of the market and is growing at highest CAGR among other grain types of balsa wood. Grain ‘C’ is also a major segment, which is swiftly acquiring significant share of the market by growing at CAGR of 5.88% during the forecast period. Aerospace & defense segment as an application has acquired as the largest share of the market. The segment is growing at highest CAGR among other application of balsa wood, to reach USD 77.76 million. Asia Pacific is the fastest growing region in the global balsa wood market, which is estimated to grow at CAGR of 5.97% to reach USD 71.25 by the end of review period. China acquired the largest market share and slated to grow at CAGR of 6.16% during the forecast period

Geographic Analysis :-
The report covers brief analysis of geographical region such as:
•North America
U.S.
Canada

•Europe
Germany
France
Italy
Spain
U.K.
Poland
Rest of Europe

•APAC
China
India
Japan
Australia
Rest of Asia Pacific

•Latin America
•Middle East & Africa

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Intended Audience
•Balsa wood producers
•Balsa wood composite manufacturers
•Wind blades manufacturers
•Potential investors
•Balsa wood suppliers
•Nationalized laboratory

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This release was published on openPR.