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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
Market Report I 2024-04-23 I 185 Pages I TechSci Research
Global Structural Core Materials Market was valued at USD 1.24 billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 4.47% through 2029. The Global Structural Core Materials Market is a dynamic sector pivotal in numerous industries, including aerospace, automotive, wind energy, marine, and construction. These materials serve as the foundational support in composite structures, providing strength, stiffness, and durability while minimizing weight.
The market is characterized by intense competition and continuous innovation as companies strive to develop advanced core materials with enhanced properties and cost-effectiveness. As industries continue to prioritize lightweight and sustainable solutions, the structural core materials market is expected to witness further expansion and innovation in the coming years.
Key Market Drivers
Growing Demand of Structural Core Materials in Automotive Industry
With tightening emissions regulations and increasing consumer demand for fuel-efficient vehicles, automakers are under pressure to reduce vehicle weight without compromising structural integrity or safety. Structural core materials offer a lightweight solution for automotive components such as body panels, interior trim, and chassis reinforcements. By replacing traditional materials like metal and solid plastic, structural core materials contribute to significant weight savings, thereby improving fuel efficiency and reducing greenhouse gas emissions.
Structural core materials exhibit excellent mechanical properties, including high strength-to-weight ratio, stiffness, and impact resistance. These properties make them ideal for use in automotive applications where structural integrity and durability are essential. Components reinforced with structural core materials can withstand harsh operating conditions, vibrations, and dynamic loads, resulting in improved performance and longevity of automotive systems.
Automotive manufacturers are increasingly focused on improving the comfort and driving experience for passengers by minimizing noise, vibration, and harshness (NVH) levels within the vehicle cabin. Structural core materials act as effective vibration dampeners and acoustic insulators, reducing NVH transmission and enhancing interior comfort. By incorporating structural core materials into vehicle components such as door panels, headliners, and floor assemblies, automakers can achieve quieter and more refined driving environments.
Growing Demand of Structural Core Materials in Construction Industry
The burgeoning demand for structural core materials in the construction industry is emerging as a significant driver propelling the growth of the global structural core materials market. These materials, crucial for enhancing the structural integrity and performance of various construction projects, are witnessing heightened utilization owing to several key factors.
The escalating need for high-performance materials capable of withstanding diverse environmental conditions is fueling the demand for structural core materials. These materials exhibit exceptional durability, resilience, and resistance to corrosion, making them ideal for use in challenging environments such as coastal areas or regions prone to seismic activity.
The growing trend of modular and prefabricated construction techniques is driving the adoption of structural core materials. These materials facilitate faster construction processes, reduce labor costs, and enhance project efficiency, thereby appealing to construction companies seeking to streamline their operations and meet tight project deadlines.
Key Market Challenges
Volatility in Price of Raw Materials
Volatility in the price of raw materials presents a significant challenge for the global structural core materials market. The fluctuating prices of raw materials used in manufacturing these core materials can have profound impacts on production costs, supply chain stability, and overall profitability.
Disruptions in the supply chain, such as natural disasters, trade conflicts, or transportation bottlenecks, can lead to shortages or disruptions in the availability of raw materials. These disruptions can cause sudden spikes in prices as demand outstrips supply.
Changes in exchange rates can influence the cost of importing raw materials, especially for materials sourced internationally. Currency fluctuations can introduce additional uncertainty into pricing strategies and procurement decisions.
Key Market Trends
Growing Demand of Structural Core Materials in Manufacturing of Sports Equipments
Structural core materials provide superior strength-to-weight ratios and stiffness compared to traditional materials like wood or metals. This allows sports equipment manufacturers to design products that are lighter, more durable, and better performing, enhancing the overall experience for athletes and enthusiasts.
The versatility of structural core materials enables manufacturers to create highly customized and innovative designs that optimize performance characteristics such as aerodynamics, vibration damping, and energy transfer. This allows for the development of high-performance sports equipment tailored to the specific needs and preferences of athletes.
Lightweight construction is a key requirement in many sports, where reducing equipment weight can improve agility, speed, and maneuverability. Structural core materials offer significant weight savings without compromising strength or structural integrity, making them ideal for applications where minimizing mass is critical.
Segmental Insights
Outer Skin Type Insights
Based on the category of outer skin type, the CFRP emerged as the fastest growing segment in the global market for structural core materials in 2023. CFRP exhibits high stiffness and rigidity, providing excellent structural integrity and resistance to deformation under load. This property allows CFRP to withstand high stresses and maintain dimensional stability, making it suitable for applications requiring precise tolerances and performance consistency.
Advances in manufacturing processes, automation, and material sourcing have led to cost reductions in CFRP production, making it more economically competitive compared to traditional materials in certain applications. As production volumes increase and economies of scale are realized, the cost gap between CFRP and other materials is expected to further narrow, driving greater adoption across various industries.
Type Insights
The honeycomb segment is projected to dominate the market during the forecast period. Honeycomb structures exhibit excellent mechanical properties, including stiffness, rigidity, and impact resistance. These properties make them suitable for use in structural applications where load-bearing capacity and durability are critical. Honeycomb cores provide structural reinforcement to composite materials, enhancing their overall strength and performance in diverse environments and operating conditions.
Regional Insights
Asia Pacific emerged as the dominant player in the Global Structural Core Materials Market in 2023, holding the largest market share in terms of both value and volume. Asia-Pacific is experiencing unprecedented rates of urbanization, with millions of people migrating from rural areas to cities each year. This demographic shift has led to a surge in construction activities, including the development of residential complexes, commercial buildings, industrial facilities, and infrastructure projects such as roads, bridges, and airports. There is a substantial demand for structural core materials to support these construction projects.
Key Market Players
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
Report Scope:
In this report, the Global Structural Core Materials Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Structural Core Materials Market,By Outer Skin Type :
oGFRP
oCFRP
oNFRP
oOthers
Structural Core Materials Market,By Type:
oFoam
oHoneycomb
oBalsa
Structural Core Materials Market,By End-User Industry :
oAerospace
oWind Energy
oMarine
oTransportation
oConstruction
oOthers
Structural Core Materials Market, By Region:
oNorth America
United States
Canada
Mexico
oEurope
France
United Kingdom
Italy
Germany
Spain
oAsia Pacific
China
India
Japan
Australia
South Korea
oSouth America
Brazil
Argentina
Colombia
oMiddle East Africa
South Africa
Saudi Arabia
UAE
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Structural Core Materials Market.
Available Customizations:
Global Structural Core Materials Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
Detailed analysis and profiling of additional market players (up to five).
1.Product Overview
1.1.Market Definition
1.2.Scope of the Market
1.2.1.Markets Covered
1.2.2.Years Considered for Study
1.2.3.Key Market Segmentations
2.Research Methodology
2.1.Objective of the Study
2.2.Baseline Methodology
2.3.Key Industry Partners
2.4.Major Association and Secondary Sources
2.5.Forecasting Methodology
2.6.Data Triangulation Validation
2.7.Assumptions and Limitations
3.Executive Summary
3.1.Overview of the Market
3.2.Overview of Key Market Segmentations
3.3.Overview of Key Market Players
3.4.Overview of Key Regions/Countries
3.5.Overview of Market Drivers, Challenges, Trends
4.Impact of COVID-19 on GlobalMarket
5.Global Structural Core Materials Market Outlook
5.1.Market Size Forecast
5.1.1.By Value Volume
5.2.Market Share Forecast
5.2.1.By Outer Skin Type (GFRP, CFRP, NFRP, Others)
5.2.2.By Type (Foam, Honeycomb, Balsa)
5.2.3.By End-User Industry (Aerospace, Wind Energy, Marine, Transportation, Construction, Others)
5.2.4.By Region
5.2.5.By Company (2023)
5.3.Market Map
6.Asia Pacific Structural Core Materials Market Outlook
6.1.Market Size Forecast
6.1.1.By Value Volume
6.2.Market Share Forecast
6.2.1.By Outer Skin Type
6.2.2.By Type
6.2.3.By End-User Industry
6.2.4.By Country
6.3.Asia Pacific: Country Analysis
6.3.1.China Structural Core Materials Market Outlook
6.3.1.1.Market Size Forecast
6.3.1.1.1.By Value Volume
6.3.1.2.Market Share Forecast
6.3.1.2.1.By Outer Skin Type
6.3.1.2.2.By Type
6.3.1.2.3.By End-User Industry
6.3.2.India Structural Core Materials Market Outlook
6.3.2.1.Market Size Forecast
6.3.2.1.1.By Value Volume
6.3.2.2.Market Share Forecast
6.3.2.2.1.By Outer Skin Type
6.3.2.2.2.By Type
6.3.2.2.3.By End-User Industry
6.3.3.Australia Structural Core Materials Market Outlook
6.3.3.1.Market Size Forecast
6.3.3.1.1.By Value Volume
6.3.3.2.Market Share Forecast
6.3.3.2.1.By Outer Skin Type
6.3.3.2.2.By Type
6.3.3.2.3.By End-User Industry
6.3.4.Japan Structural Core Materials Market Outlook
6.3.4.1.Market Size Forecast
6.3.4.1.1.By Value Volume
6.3.4.2.Market Share Forecast
6.3.4.2.1.By Outer Skin Type
6.3.4.2.2.By Type
6.3.4.2.3.By End-User Industry
6.3.5.South Korea Structural Core Materials Market Outlook
6.3.5.1.Market Size Forecast
6.3.5.1.1.By Value Volume
6.3.5.2.Market Share Forecast
6.3.5.2.1.By Outer Skin Type
6.3.5.2.2.By Type
6.3.5.2.3.By End-User Industry
7.Europe Structural Core Materials Market Outlook
7.1.Market Size Forecast
7.1.1.By Value Volume
7.2.Market Share Forecast
7.2.1.By Outer Skin Type
7.2.2.By Type
7.2.3.By End-User Industry
7.2.4.By Country
7.3.Europe: Country Analysis
7.3.1.France Structural Core Materials Market Outlook
7.3.1.1.Market Size Forecast
7.3.1.1.1.By Value Volume
7.3.1.2.Market Share Forecast
7.3.1.2.1.By Outer Skin Type
7.3.1.2.2.By Type
7.3.1.2.3.By End-User Industry
7.3.2.Germany Structural Core Materials Market Outlook
7.3.2.1.Market Size Forecast
7.3.2.1.1.By Value Volume
7.3.2.2.Market Share Forecast
7.3.2.2.1.By Outer Skin Type
7.3.2.2.2.By Type
7.3.2.2.3.By End-User Industry
7.3.3.Spain Structural Core Materials Market Outlook
7.3.3.1.Market Size Forecast
7.3.3.1.1.By Value Volume
7.3.3.2.Market Share Forecast
7.3.3.2.1.By Outer Skin Type
7.3.3.2.2.By Type
7.3.3.2.3.By End-User Industry
7.3.4.Italy Structural Core Materials Market Outlook
7.3.4.1.Market Size Forecast
7.3.4.1.1.By Value Volume
7.3.4.2.Market Share Forecast
7.3.4.2.1.By Outer Skin Type
7.3.4.2.2.By Type
7.3.4.2.3.By End-User Industry
7.3.5.United Kingdom Structural Core Materials Market Outlook
7.3.5.1.Market Size Forecast
7.3.5.1.1.By Value Volume
7.3.5.2.Market Share Forecast
7.3.5.2.1.By Outer Skin Type
7.3.5.2.2.By Type
7.3.5.2.3.By End-User Industry
8.North America Structural Core Materials Market Outlook
8.1.Market Size Forecast
8.1.1.By Value Volume
8.2.Market Share Forecast
8.2.1.By Outer Skin Type
8.2.2.By Type
8.2.3.By End-User Industry
8.2.4.By Country
8.3.North America: Country Analysis
8.3.1.United States Structural Core Materials Market Outlook
8.3.1.1.Market Size Forecast
8.3.1.1.1.By Value Volume
8.3.1.2.Market Share Forecast
8.3.1.2.1.By Outer Skin Type
8.3.1.2.2.By Type
8.3.1.2.3.By End-User Industry
8.3.2.Mexico Structural Core Materials Market Outlook
8.3.2.1.Market Size Forecast
8.3.2.1.1.By Value Volume
8.3.2.2.Market Share Forecast
8.3.2.2.1.By Outer Skin Type
8.3.2.2.2.By Type
8.3.2.2.3.By End-User Industry
8.3.3.Canada Structural Core Materials Market Outlook
8.3.3.1.Market Size Forecast
8.3.3.1.1.By Value Volume
8.3.3.2.Market Share Forecast
8.3.3.2.1.By Outer Skin Type
8.3.3.2.2.By Type
8.3.3.2.3.By End-User Industry
9.South America Structural Core Materials Market Outlook
9.1.Market Size Forecast
9.1.1.By Value Volume
9.2.Market Share Forecast
9.2.1.By Outer Skin Type
9.2.2.By Type
9.2.3.By End-User Industry
9.2.4.By Country
9.3.South America: Country Analysis
9.3.1.Brazil Structural Core Materials Market Outlook
9.3.1.1.Market Size Forecast
9.3.1.1.1.By Value Volume
9.3.1.2.Market Share Forecast
9.3.1.2.1.By Outer Skin Type
9.3.1.2.2.By Type
9.3.1.2.3.By End-User Industry
9.3.2.Argentina Structural Core Materials Market Outlook
9.3.2.1.Market Size Forecast
9.3.2.1.1.By Value Volume
9.3.2.2.Market Share Forecast
9.3.2.2.1.By Outer Skin Type
9.3.2.2.2.By Type
9.3.2.2.3.By End-User Industry
9.3.3.Colombia Structural Core Materials Market Outlook
9.3.3.1.Market Size Forecast
9.3.3.1.1.By Value Volume
9.3.3.2.Market Share Forecast
9.3.3.2.1.By Outer Skin Type
9.3.3.2.2.By Type
9.3.3.2.3.By End-User Industry
10.Middle East and Africa Structural Core Materials Market Outlook
10.1.Market Size Forecast
10.1.1.By Value Volume
10.2.Market Share Forecast
10.2.1.By Outer Skin Type
10.2.2.By Type
10.2.3.By End-User Industry
10.2.4.By Country
10.3.MEA: Country Analysis
10.3.1.South Africa Structural Core Materials Market Outlook
10.3.1.1.Market Size Forecast
10.3.1.1.1.By Value Volume
10.3.1.2.Market Share Forecast
10.3.1.2.1.By Outer Skin Type
10.3.1.2.2.By Type
10.3.1.2.3.By End-User Industry
10.3.2.Saudi Arabia Structural Core Materials Market Outlook
10.3.2.1.Market Size Forecast
10.3.2.1.1.By Value Volume
10.3.2.2.Market Share Forecast
10.3.2.2.1.By Outer Skin Type
10.3.2.2.2.By Type
10.3.2.2.3.By End-User Industry
10.3.3.UAE Structural Core Materials Market Outlook
10.3.3.1.Market Size Forecast
10.3.3.1.1.By Value Volume
10.3.3.2.Market Share Forecast
10.3.3.2.1.By Outer Skin Type
10.3.3.2.2.By Type
10.3.3.2.3.By End-User Industry
11.Market Dynamics
11.1.Drivers
11.2.Challenges
12.Market Trends Developments
12.1.Recent Developments
12.2.Product Launches
12.3.Mergers Acquisitions
13.Global Structural Core Materials Market: SWOT Analysis
14.Porter's Five Forces Analysis
14.1.Competition in the Industry
14.2.Potential of New Entrants
14.3.Power of Suppliers
14.4.Power of Customers
14.5.Threat of Substitute Product
15.PESTLE Analysis
16.Competitive Landscape
16.1.Diab Americas LP
16.1.1.Business Overview
16.1.2.Company Snapshot
16.1.3.Products Services
16.1.4.Financials (As Reported)
16.1.5.Recent Developments
16.2.Evonik Industries AG.
16.3.Gurit Services AG
16.4.SCHWEITER TECHNOLOGIES AG
16.5.Hexcel Corporation
16.6.Armacell International S.A.
16.7.Changzhou Tiansheng New Materials Co. Ltd.
16.8.The Gill Corporation
16.9.BASF SE
16.10.Plascore, Inc
17.Strategic Recommendations
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