Press release
Balsa Wood Market Global Industry Survey by Professional Top Brands Until 2023 | 3A Composites (Switzerland), Gurit (Spain), DIAB International AB (Sweden), The PNG Balsa Company Ltd (Papua New Guinea), The Gill Corporation (U.S.), CoreLite Inc
Balsa Wood Market
Competition
Prominent market players include 3A Composites PNG Balsa Ltd.; DIAB International AB; CoreLite Inc.; The Gill Corporation; and Gurit Holding AG. Partnerships between firms have seen an upsurge owing to tough competition. For instance, Gurit Holding was awarded a contract worth USD 645 Mn from a prominent turbine manufacturer, creating opportunities for the market. Coating systems are being developed by companies to minimize resin uptake required by balsa wood for sealing its pores.
Receive a Sample Copy @ https://www.marketresearchfuture.com/sample_request/4473
Synopsis of Balsa Wood Market:
Balsa (Ochroma Pyramidale) is one of the fastest growing wood species, reaching about 20 m in height and up to 75 cm in diameter in just 5-8 years. Most of the Balsa Wood used commercially is harvested from plantations, particularly from Ecuador and Papua New Guinea. Because of its fast growth, the wood density is very low, making Balsa the lightest commercial timber available in the market. Based on the appearance of grain in wood, they are categorized as ‘Grain A’, ‘Grain B’ and ‘Grain C’ types. ‘Grain B’ type of balsa wood is majorly used in the world and accounts for the largest market share of 41.0% as of 2016.
This Grain B segment is anticipated to dominate during the forecast period as it is used as all-purpose balsa items. As the Balsa Wood has attained commercial importance on account of its exceptional lightweight and its insulating properties, the global market is segmented based on application as aerospace & defense, renewable energy, marine, road & rail, industrial & other segments. The aerospace & defense segment is estimated to grow highest CAGR to reach USD 77.76 million by the end of 2023, due to the light weight property of the product.According to MRFR analysis, Global Balsa Wood Market was valued at USD 146.53 million in 2016 and is expected to be valued at USD 217.23 million by the end of 2023, expanding at a CAGR of 5.89%, owing to increasing consumption of Balsa Wood Composites among the aerospace & defense, wind energy segments
Drivers and Restraints
Rapid pace of urbanization and rising energy demand are factors anticipated to drive the balsa wood market over the forecast period. Strict regulations pertaining to wood processing and expansion plans of reputed firms are expected to fuel the market demand in the coming years. Increasing demand for equipment in aerospace and defense sectors is predicted to influence the market. Changing designs of equipment and emphasis on sandwich structures is expected to induce demand for balsa wood.
Complete Report Summary @ https://www.marketresearchfuture.com/reports/balsa-wood-market-4473
Industry News
Lightwood composite manufacturers prefer using balsa wood as their core for manufacturing wooden toys and furniture. For instance, Green Dot Bioplastics is using balsa wood with other materials to produce composites for architectural purposes. Another instance includes 3A Composites AG which has acquired Forest Stewardship Council (FSC) certification for its products – AIREX, BANOVA, and BALTEX. These composites can be used in producing semi-finished goods.
Regional Analysis
The worldwide market covers regions such as Latin America (LATAM), North America, Middle East & Africa (MEA), Asia Pacific (APAC), and Europe.
The APAC market valuation is set to touch USD 71.25 Mn by 2023 owing to a large number of wood processors, continuous growth of applications, and low labor costs. It is anticipated to exhibit a CAGR of 5.97% during the assessment period due to expansion of various end-use industries. China is expected to display a 6.16% CAGR during the forecast period owing to increase in military budgetary spending and an uptick noticed in the renewable energy sector.
North America commands the second position after APAC, followed by Europe. Demand for wood is anticipated to rise due to major consumption by industries in the U.S. Europe may experience a moderate CAGR till 2023. Countries such as Poland and Germany can contribute to its revenue due to being host to various end-use industries.
Segmentation Analysis
The balsa wood market is segmented by type, application, and region. Types of balsa wood are segmented into ‘Grain A’, ‘Grain B’, and ‘Grain C’. The Grain B segment accounted for nearly 41% market volume in 2016. It is anticipated to dominate among other segments due to being commercially used in all wooden items.
Major market applications include industrial construction, renewable energy, marine, aerospace & defense, road & rail, and others. The aerospace & defense segment is predicted to generate nearly USD 77.76 Mn by 2023 due to lightweight nature of balsa wood. Wood-based composites offer higher ballistic protection and weigh less than conventional materials. Production of ships, aircraft, and land-based shelter ships are expected to drive segment demand over the review period.
The renewable energy segment is projected to grow robustly due to the boom in the wind energy sector. Production of various equipment coupled with an abundance of raw materials is anticipated to augur segment growth.
Intended Audience
Balsa Wood Producers
Balsa Wood Composite Manufacturers
Wind Blades Manufacturers
Potential Investors
Balsa Wood Suppliers
Nationalized Laboratory
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Market Research Future
Magarpatta Road, Hadapsar,
Pune - 411028
Maharashtra, India
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Balsa Wood Market Global Industry Survey by Professional Top Brands Until 2023 | 3A Composites (Switzerland), Gurit (Spain), DIAB International AB (Sweden), The PNG Balsa Company Ltd (Papua New Guinea), The Gill Corporation (U.S.), CoreLite Inc here
News-ID: 1588388 • Views: …
More Releases from Market Research Future (MRFR)
Payment Service Provider Market Projected to Hit USD 140.91 Billion at a 5.48% C …
Market Overview:
The Payment Service Provider (PSP) market has witnessed substantial growth over the past decade, driven by the explosive rise in digital commerce, mobile payments, and cross-border transactions. As businesses strive to streamline payment processes and deliver frictionless experiences to customers, the demand for robust, secure, and scalable PSP solutions has surged.
PSPs serve as intermediaries between merchants and financial institutions, enabling the acceptance of electronic payments via multiple methods…
Boundary Scan Hardware Market Poised for Growth, Reaching USD 3.16 Billion by 20 …
Market Overview:
The Boundary Scan Hardware Market has emerged as a crucial segment within the electronics testing and debugging industry, offering advanced solutions for fault detection and circuit verification in integrated circuits (ICs) and printed circuit boards (PCBs). Leveraging the IEEE 1149.1 standard, boundary scan commonly referred to as JTAG (Joint Test Action Group) provides a non-invasive and efficient testing methodology that minimizes the need for physical probes. Boundary Scan Hardware…
Metaverse for Automotive Market is Expected to Touch USD 123.51 Billion By 2034
Market Overview:
The Metaverse for Automotive Market is redefining how automakers, suppliers, and consumers interact in a digitally immersive world. With the integration of AR/VR, IoT, blockchain, and AI technologies, the automotive industry is stepping into the virtual realm to enhance everything from product design and manufacturing to marketing, sales, and customer service.
The global rise in digital transformation, coupled with increasing consumer demand for interactive and customized experiences, is fueling…
AGV Software Market to Grow at 10.82% CAGR, Hitting USD 6.46 Billion by 2034
Market Overview:
The AGV Software Market is rapidly evolving as industries shift towards intelligent automation and digital transformation in their logistics and material handling operations. AGV software acts as the brain of autonomous vehicles, enabling seamless navigation, scheduling, route optimization, fleet coordination, and task management. With the growing demand for efficient, contactless, and error-free logistics, AGV systems have found significant adoption across warehouses, manufacturing plants, ports, and healthcare facilities. AGV Software…
More Releases for Balsa
Balsa Core Materials Market Challenges, Growth and Opportunities - 2030
The latest research study released by Transparency Market Research on "Balsa Core Materials Market Forecast to 2020 - 2030 ″ research provides accurate economic, global, and country-level predictions and analyses. It provides a comprehensive perspective of the competitive market as well as an in-depth supply chain analysis to assist businesses in identifying major changes in industry practices. The market report also examines the current state of the Balsa Core Materials…
Building Strong Foundations: The Balsa Core Materials Industry
The global Balsa Core Materials market is estimated to attain a valuation of US$ 275 Mn by the end of 2030, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 5% during the forecast period, 2020 - 2030.
The key objective of the TMR report is to offer a complete assessment of the global market including major…
Balsa Wood Market
Industry Overview
The global balsa wood market is anticipated to reach a valuation of USD 217.23 Mn by 2023, as per a new report by Market Research Future (MRFR). It is expected to exhibit a 5.89% CAGR from 2017 to 2023 (assessment period). Balsa wood is one of the fastest-growing trees, popular due to its lightweight nature in commercial timber. Increasing consumption of balsa wood from aerospace & defense and wind…
Balsa Core Materials Market Set to Witness Explosive Growth
Balsa Core Materials Market, Balsa wood, which is readily accessible in a variety of thicknesses, densities, and forms, is the source of balsa core material, which has a honeycomb-like structure. It is affordable and has a number of benefits, such as high compression, shear strength, and stiffness. It consequently has a wide range of uses in the manufacture of boats, wind turbine blades, and structural composite panels. Balsa core material…
Balsa Core Materials Market- Encouraging Transformation 2030
Balsa Core Materials Market for Structural Composites: Introduction
In terms of value, the global balsa core materials market for structural composites is anticipated to expand at a CAGR of ~5% from 2020 to 2030. Balsa is used as a core material, owing to its excellent chemical and styrene resistance, as well as neutral behavior. It can be processed with various different resin systems.
Furthermore, it offers excellent laminate adhesion properties. End-grain…
Balsa Wood For Wind Energy Market 2022 | Detailed Report
The Balsa Wood For Wind Energy research report combines vital data incorporating the competitive landscape, global, regional, and country-specific market size, market growth analysis, market share, recent developments, and market growth in segmentation. Furthermore, the Balsa Wood For Wind Energy research report offers information and thoughtful facts like share, revenue, historical data, and global market share. It also highlights vital aspects like opportunities, driving, product scope, market overview, and driving…
