The global balsa core materials market reached a value of US$ 235.2 Million in 2021. Looking forward, the publisher expects the market to reach a value of US$ 311.7 Million by 2027 exhibiting a CAGR of 4.50% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Balsa core material is a honeycomb-like structure derived from balsa wood, which is widely available in various thicknesses, densities, and forms. It is cost-effective and offers several advantages, including high compression, shear strength, and stiffness. As a result, it finds extensive applications in the production of boats, wind turbine blades and structural composite panels. At present, there is an increase in the utilization of balsa core material in the manufacturing of hovercraft, aircraft, and helicopters across the globe.
The escalating demand for lightweight materials across the globe represents one of the key factors driving the market. Moreover, there is a rise in the usage of balsa core materials in aircraft construction to reduce weight and achieve high tensile strength. This, along with the burgeoning aerospace industry worldwide, is propelling the growth of the market. In addition, the increasing installation of wind turbines due to the limited availability of conventional fuels, such as oil, gas, and coal, and rising environmental concerns are positively influencing the sales of these materials. Besides this, the growing shipping industry on account of the improving international trade is supporting the transportation of goods and raw materials around the world, which is positively influencing the market. Additionally, governments of several countries are extensively investing in the defense industry to enhance national security, which is offering lucrative growth opportunities to investors. Apart from this, the ecological benefits of balsa core materials compared to polyethylene terephthalate (PET) and carbon core materials are stimulating the market growth. Furthermore, key market players are focusing on mergers and acquisitions (M&A), product launches, and expansions to strengthen their overall market share.
The publisher provides an analysis of the key trends in each sub-segment of the global balsa core materials market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, product and end use industry.
The competitive landscape of the industry has also been examined along with the profiles of the key players being 3A Composites (Schweiter Technologies), Bcomp Ltd., Carbon-Core Corp., CoreLite Inc., Diab International AB, Gurit Holding AG, I-Core Composites LLC and Nord Compensati srl.
Balsa core material is a honeycomb-like structure derived from balsa wood, which is widely available in various thicknesses, densities, and forms. It is cost-effective and offers several advantages, including high compression, shear strength, and stiffness. As a result, it finds extensive applications in the production of boats, wind turbine blades and structural composite panels. At present, there is an increase in the utilization of balsa core material in the manufacturing of hovercraft, aircraft, and helicopters across the globe.
Balsa Core Materials Market Trends:
The escalating demand for lightweight materials across the globe represents one of the key factors driving the market. Moreover, there is a rise in the usage of balsa core materials in aircraft construction to reduce weight and achieve high tensile strength. This, along with the burgeoning aerospace industry worldwide, is propelling the growth of the market. In addition, the increasing installation of wind turbines due to the limited availability of conventional fuels, such as oil, gas, and coal, and rising environmental concerns are positively influencing the sales of these materials. Besides this, the growing shipping industry on account of the improving international trade is supporting the transportation of goods and raw materials around the world, which is positively influencing the market. Additionally, governments of several countries are extensively investing in the defense industry to enhance national security, which is offering lucrative growth opportunities to investors. Apart from this, the ecological benefits of balsa core materials compared to polyethylene terephthalate (PET) and carbon core materials are stimulating the market growth. Furthermore, key market players are focusing on mergers and acquisitions (M&A), product launches, and expansions to strengthen their overall market share.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global balsa core materials market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, product and end use industry.
Breakup by Type:
- Monolayer
- Multilayer
Breakup by Product:
- Rigid End-Grain
- Contoured End-Grain
Breakup by End Use Industry:
- Wind Energy
- Aerospace
- Marine
- Transportation
- Construction
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 3A Composites (Schweiter Technologies), Bcomp Ltd., Carbon-Core Corp., CoreLite Inc., Diab International AB, Gurit Holding AG, I-Core Composites LLC and Nord Compensati srl.
Key Questions Answered in This Report:
- How has the global balsa core materials market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global balsa core materials market?
- What are the key regional markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the product?
- What is the breakup of the market based on the end use industry?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global balsa core materials market and who are the key players?
- What is the degree of competition in the industry?
Frequently Asked Questions about the Global Balsa Core Materials Market
What is the estimated value of the Global Balsa Core Materials Market?
What is the growth rate of the Global Balsa Core Materials Market?
What is the forecasted size of the Global Balsa Core Materials Market?
Who are the key companies in the Global Balsa Core Materials Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 143 |
| Published | March 2022 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value ( USD | $ 235.2 Million |
| Forecasted Market Value ( USD | $ 311.7 Million |
| Compound Annual Growth Rate | 4.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Balsa Core Materials Market
6 Market Breakup by Type
7 Market Breakup by Product
8 Market Breakup by End Use Industry
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- 3A Composites (Schweiter Technologies)
- Bcomp Ltd.
- Carbon-Core Corp.
- CoreLite Inc.
- Diab International AB
- Gurit Holding AG
- I-Core Composites LLC
- Nord Compensati srl.
Methodology
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