Global Core Materials for Composites Market Growing a CAGR of 7.63% | Leading Players :Diab Group (Sweden), Hexcel Corporation (U.S.), 3A Composites (Switzerland), Euro-Composites S.A. (Luxembourg), Gurit Holding AG (Switzerland).

Global Core Materials for Composites Market Overview:

The core material is normally a low strength material, but its greater thickness gives the sandwich composite, a high flexural rigidity with low overall density. In 2018, the end-user sector of the aerospace sector dominated the market for composites-based materials, reflecting the strong demand for honeycomb materials for next-generation aircraft. The aerospace industry has undergone several changes in the manufacture of its components in recent decades. The use of wood and metal for the manufacture of aircraft components has been replaced by several lightweight compounds. As a result, the demand for basic materials is increasing with the growing penetration of composite materials in the aerospace industry. Some of the components of the aircraft made from base materials are cabin liners, roof panels, air ducts, roof compartments, and fins. The Global Core Materials for Composites Market is expected to reach USD XX billion by 2023, an increase from USD XX billion in 2018, at a compound annual rate of 7.63% during the forecast period.

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Global Core Materials for Composites Market Drivers and Restraints:

PVC foam is expected to be the fastest growing sub-segment in the foam segment of the composite materials market. PVC foams are closed cell, lightweight, high strength, resistant to moisture and have higher physical properties than other foams of similar density. It is expected that the growing demand for complex lighting systems in the aerospace and wind sectors and materials with low water absorption in marine construction will boost the PVC foam market in the forecast period. Wind energy is a key solution for energy security, air pollution and price stability, which is fueling the demand for basic materials in this industry. According to the GWEC, in 2015, there were commercial wind installations in more than 90 countries, with a total installed capacity of 432 GW. Rapid growth in the wind energy sector in China, India and other countries is driving strong demand for composite foam core materials. The growing demand of the wind energy sector, the increasing use of composite materials in the aerospace industry and the recovery of the marine sector in the United States are the main drivers of growth in the world market for composite materials. However, the basic materials market is a capital intensive market, which is the main obstacle to the entry of new players into the market. In addition, the delays and uncertainties associated with the renewal of the Production Tax Credit (PTC) also limit market growth.
Global Core Materials for Composites Market Geographic Segmentation
Geographically, North America leads the Global Core Materials for Composites Market followed by Europe. Some of the key players in the market 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).

Scope of the report:

The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.

The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.

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