Structural Core Materials Market to Grow with a CAGR of 4.47% Globally through 2029
Growing demand of structural core materials in marine industry is
expected to drive the Global Structural Core Materials Market growth in the
forecast period, 2025-2029.
According to TechSci Research report, “Structural
Core Materials Market - Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2019-2029F”, the Global Structural Core
Materials Market stood at USD 1.24 billion in 2023 and is anticipated to grow
with a CAGR of 4.47% in the forecast period, 2024-2029. Initiatives taken by
government based on structural core materials has led to favorable market
conditions for the Global Structural Core Materials Market. Several factors
contribute to the growth of various structural core materials products.
Governments facilitate technology transfer and
knowledge exchange between research institutions, industry stakeholders, and
small-medium enterprises (SMEs) to accelerate the adoption of structural core
materials. Technology transfer programs may include collaborations,
partnerships, and licensing agreements to facilitate the commercialization of
innovative materials, processes, and products developed in academic and
research settings.
Browse over XX market data Figures spread
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Marine structures are constantly exposed to harsh
environmental conditions, including saltwater, UV radiation, and extreme
temperatures. Traditional materials such as steel and aluminum are prone to
corrosion and degradation over time. Structural core materials on the other
hand offer superior resistance to moisture and corrosion, ensuring prolonged
service life and reduced maintenance requirements. This durability factor makes
them an attractive choice for boat manufacturers and shipbuilders aiming to
deliver reliable and long-lasting vessels to their customers.
The Global Structural Core Materials Market is
segmented into outer skin type, type, end-user industry, regional distribution,
and company.
Based on its type, the honeycomb segment demonstrated
the significant growth in the forecast period. Honeycomb structures can provide
effective thermal and acoustic insulation properties when incorporated into
composite materials or sandwich panels. The air-filled cells within the
honeycomb core act as thermal barriers, reducing heat transfer and improving
energy efficiency. The cellular structure of honeycomb cores helps attenuate
sound waves, making them suitable for noise reduction applications in
automotive interiors, building panels, and industrial enclosures.
Based on region, Asia Pacific segment is expected to
grow during the forecast period.
Asia Pacific serves as a global manufacturing hub for
various industries, including automotive, aerospace, marine, and electronics.
The demand for lightweight and high-performance materials, such as structural core
materials, is particularly high in these sectors for applications such as
vehicle components, aircraft interiors, marine vessels, and electronic
enclosures. As a result, Asia Pacific has emerged as a fastest growing market
for structural core materials driven by the needs of its manufacturing
industries.
Major companies operating in Global Structural Core
Materials Market are:
- Diab Americas LP
- Evonik Industries AG.
- Gurit Services AG
- SCHWEITER TECHNOLOGIES AG
- Hexcel Corporation
- Armacell International S.A.
- Changzhou Tiansheng New
Materials Co. Ltd.
- The Gill Corporation
- BASF SE
- Plascore, Inc
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“Additive manufacturing technologies have
revolutionized the production of structural core materials by enabling the
fabrication of complex geometries with minimal material waste. 3D printing
processes, such as Fused Deposition Modeling (FDM) and Selective Laser
Sintering (SLS), allow for rapid prototyping and customization of core
structures tailored to specific application requirements. Advancements in
multi-material 3D printing enable the integration of different core materials
within a single component, optimizing performance and functionality.,” said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based
management consulting firm.
“Structural Core Materials Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Outer Skin Type (GFRP, CFRP, NFRP, Others), By Type (Foam, Honeycomb, Balsa), By End-User Industry (Aerospace, Wind Energy, Marine, Transportation, Construction, Others), By Region and Competition, 2019-2029F”, has evaluated the future growth potential of Global
Structural Core Materials Market and provides statistics & information on
market size, structure, and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global
Structural Core Materials Market.
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