Balsa core material is a commonly used end-grain wood core, which exhibits high thermal insulation properties and has enhanced acoustic retention. It is a honeycomb-like structure, and is available in a wide range of thickness, density, and form.
The growth of the global balsa core materials market is driven by its increase in demand from end-use industries, such as wind energy and marine, where it is used as a protective and ablative agent. In addition, rise in demand for lightweight materials and increase in installation of wind turbines are expected to boost the market in the near future. However, high material cost is expected to restrain the market growth. On the contrary, new mergers and acquisitions to increase the market reach in the developing countries are expected to provide new opportunities for the expansion of the market in the near future.
The global balsa core materials market is segmented based on type, application, and region. On the basis type, it is bifurcated into monolayer and multilayer. The applications covered in the study include wind energy, aerospace, marine, transportation, construction, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the global balsa core materials market have focused on product launch and expansion as their key strategies to gain significant market share and cater to the growing demands of the developing countries.
The key players operating in the market include DIAB, Schweiter Technologies, BCOMP LTD., Carbon-Core Corp, Gurit Holding AG, Evonik Industries AG, I-Core Composites, LLC, CoreLite Inc., BONDi (Shandong) Environmental Material Company Limited, and Nord Compensati Spa.
KEY BENEFITS
This report provides an extensive analysis of the current trends and emerging estimations in the global balsa core materials market.
A comprehensive analysis of factors that drive and restrain the market growth is provided.
An extensive analysis of the industry is conducted by following key product positioning and monitoring the top competitors within the market framework.
The key players are profiled along with their strategies to determine the competitive outlook of the market.
Key Market Segments
By Type
Monolayer
Multilayer
By Application
Wind Energy
Aerospace
Marine
Transportation
Construction
Others
By Geography
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Turkey
South Africa
Saudi Arabia
Rest of LAMEA
The growth of the global balsa core materials market is driven by its increase in demand from end-use industries, such as wind energy and marine, where it is used as a protective and ablative agent. In addition, rise in demand for lightweight materials and increase in installation of wind turbines are expected to boost the market in the near future. However, high material cost is expected to restrain the market growth. On the contrary, new mergers and acquisitions to increase the market reach in the developing countries are expected to provide new opportunities for the expansion of the market in the near future.
The global balsa core materials market is segmented based on type, application, and region. On the basis type, it is bifurcated into monolayer and multilayer. The applications covered in the study include wind energy, aerospace, marine, transportation, construction, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the global balsa core materials market have focused on product launch and expansion as their key strategies to gain significant market share and cater to the growing demands of the developing countries.
The key players operating in the market include DIAB, Schweiter Technologies, BCOMP LTD., Carbon-Core Corp, Gurit Holding AG, Evonik Industries AG, I-Core Composites, LLC, CoreLite Inc., BONDi (Shandong) Environmental Material Company Limited, and Nord Compensati Spa.
KEY BENEFITS
This report provides an extensive analysis of the current trends and emerging estimations in the global balsa core materials market.
A comprehensive analysis of factors that drive and restrain the market growth is provided.
An extensive analysis of the industry is conducted by following key product positioning and monitoring the top competitors within the market framework.
The key players are profiled along with their strategies to determine the competitive outlook of the market.
Key Market Segments
By Type
Monolayer
Multilayer
By Application
Wind Energy
Aerospace
Marine
Transportation
Construction
Others
By Geography
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Turkey
South Africa
Saudi Arabia
Rest of LAMEA
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: BALSA CORE MATERIALS MARKET, BY TYPE
CHAPTER 5: BALSA CORE MATERIALS MARKET, BY END-USE INDUSTRY
CHAPTER 6: BALSA CORE MATERIALS MARKET, BY REGION
CHAPTER 7: COMPANY PROFILES
Executive Summary
According to a new report, titled, Global Balsa Core Materials Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2018-2025, The global balsa core materials market was valued at $199 million in 2017, and is projected to reach $291 million by 2025, growing at a CAGR of 4.8% from 2018 to 2025. Asia-Pacific dominated the global market, accounting for approximately 40% share in 2017.Balsa core is the most commonly used end-grain wood core, which possesses high strength and stiffness to weight ratio. It offers advantages such as superior fire resistance, high sheer strength, wide operating temperature, and enhanced thermal & acoustic insulation. Increase in demand for lightweight materials in a wide range of end-use industries such as marine, aerospace, and construction is expected to fuel the market growth during the forecast period. However, minimum density and ability to absorb large amount of resins during lamition hamper the adoption of global balsa core materials, thereby restraining the market growth.
Balsa core materials are available in two types, monolayer and multilayer. The multilayer segment accounted for a significant share in 2017, and is expected to witness high growth rate during the forecast period, owing to higher energy absorption property of multilayer as compared to monolayer materials.
The wind energy segment accounted for a significant share in 2017, and is anticipated to maintain its domince during the forecast period, due to rise in adoption of lightweight materials in wind energy applications worldwide.
Balsa core is considered as an economical substitute to higher priced foam cores, which is expected to augment the market growth. Moreover, surge in preference for balsa core materials is expected to increase in Asia-Pacific, owing to increase in wind turbine installations.
Key Findings of the Balsa Core Materials Market:
In terms of value, the multilayer segment accounted for 66% share of the global market in 2016, and is expected to grow at a CAGR of 5.2% from 2018 to 2025.
Asia-Pacific is anticipated to witness the highest growth, registering a CAGR of 5.4%, in terms of value.
Chi and India are expected to occupy approximately 56% share of the total Asia-Pacific market by 2025.
India is expected to grow at a CAGR of 6.5%, in terms of value.
In 2017, Asia-Pacific accounted for the highest share, and is expected to continue its domince during the forecast period.
In 2017, Europe and Asia-Pacific collectively accounted for more than 67% of the global balsa core materials market, in terms of value. The development of the shipping industry is one of the major trends responsible for the growth of the European balsa core material market. Furthermore, increase in trade activities through sea is projected to boost the demand for balsa core materials, thereby driving the growth of the market. Rise in investment in the construction and automotive industries is anticipated to further drive the market growth. Companies such as Schweiter Technologies and BCOMP Ltd. have significantly contributed to the growth of the European balsa core material market. For example, BCOMP Ltd. is involved in the development, manufacturing, and distribution of composite materials produced from tural fibers. In Asia-Pacific, development of the marine and wind power industries drives the growth of the market. Furthermore, upsurge in demand for balsa core materials across various industry verticals such as marine, wind power, construction, automotive, and furnishing boosts the market growth. Major economies, including, India, Chi, Japan, Korea, and Australia have contributed to the growth of the market.
The major companies profiled in this report are DIAB, Schweiter Technologies, BCOMP LTD., Carbon-Core Corp, Gurit Holding AG, Evonik Industries AG, I-Core Composites, LLC, CoreLite Inc., BONDi (Shandong) Environmental Material Company Limited, and Nord Compensati Spa.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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