Core Materials Market Report 2026

The core materials market size has grown rapidly in recent years. It will grow from $1.95 billion in 2025 to $2.21 billion in 2026 at a compound annual growth rate (CAGR) of 13.5%. The growth in the historic period can be attributed to growth in aerospace composite manufacturing, expansion of marine vessel construction, increasing use of sandwich panels in construction, adoption of lightweight materials in automotive design, availability of advanced composite fabrication methods.

The core materials market size is expected to see rapid growth in the next few years. It will grow to $3.59 billion in 2030 at a compound annual growth rate (CAGR) of 12.9%. The growth in the forecast period can be attributed to expansion of renewable energy installations, rising demand for lightweight electric vehicles, increasing investments in aerospace modernization, growth of advanced composite manufacturing, higher focus on recyclable core materials. Major trends in the forecast period include increasing use of lightweight composite core structures, rising adoption of honeycomb core materials, growing demand for high-strength foam cores, expansion of core materials in wind energy applications, enhanced focus on structural performance optimization.

The rising demand for electric vehicles is expected to drive the growth of the core materials market in the coming years. An electric vehicle (EV) is powered by electricity rather than conventional internal combustion engines that depend on gasoline or diesel. Core materials, including advanced composites and lightweight foams, play a crucial role in manufacturing EV components such as body panels, interior parts, and other structural elements. The increasing focus on reducing vehicle weight to improve driving range and energy efficiency is further accelerating the adoption of core materials in the automotive industry. For example, in July 2023, according to the International Energy Agency, a France-based intergovernmental organization, global electric vehicle sales reached 10 million units in 2022 and were projected to rise to 14 million units in 2023. Therefore, the growing demand for electric vehicles is contributing significantly to the expansion of the core materials market.

Companies operating in the core materials market are increasingly concentrating on product innovations, including the development of ultra-lightweight materials, to maintain their competitive edge. Ultra-lightweight materials are characterized by extremely low weight or density while retaining strength, durability, and functional performance. For instance, in January 2023, Aerogel Core Ltd., a UK-based company focused on ultra-lightweight material development, introduced ultra-light, low-carbon aerogel insulation materials for aerospace and automotive applications. These graphene-based aerogels, developed through research conducted at the University of Bath in the UK, provide effective soundproofing and heat-shielding capabilities. Due to their lightweight, durable, and thermally insulating properties, aerogels are widely recognized as core materials across multiple industries. The introduction of these aerogel insulation solutions supports ongoing innovation and advancement within the core materials market for specialized industrial applications.

In June 2023, Schweiter Technologies AG, a Switzerland-based manufacturing company, acquired JMB Wind Engineering for an undisclosed amount. This acquisition was aimed at strengthening Schweiter’s core materials business by expanding its technical expertise and manufacturing capabilities in wind energy components. JMB Wind Engineering is a Switzerland-based engineering firm that specializes in wind energy design, analysis, and component engineering solutions.

Major companies operating in the core materials market are DIAB AB, Gurit Holding AG, 3A Composites, Hexcel Corporation, Plascore Inc, CoreLite Inc, Evonik Industries AG, Armacell International S.A., Owens Corning, DuPont, Mitsubishi Chemical Group, Toray Industries Inc, SGL Carbon SE, Arisawa Manufacturing Co Ltd, The Gill Corporation, Schweiter Technologies AG, Nitto Denko Corporation, Showa Denko Materials Co Ltd, Lantor BV, Euro-Composites S.A., CEL Components Srl.

Asia-Pacific was the largest region in the core materials market share in 2025. The regions covered in the core materials market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the core materials market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The core materials market consists of sales of polyvinyl chloride foam, urethane foam, non-woven core fabrics, and balsa wood. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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