Global $291 Million Balsa Core Materials Market by Type & Application - Forecast to 2025 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Sep 18, 2018--The “Balsa Core Materials Market by Type and Application - Global Opportunity Analysis and Industry Forecast, 2018-2025” report has been added to ResearchAndMarkets.com’s offering.
According to the report, 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.
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 lamination 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 dominance 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 FindingsIn 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.
Key Topics Covered
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 ProfilesDiabSchweiter TechnologiesBcomp Ltd.Carbon-Core Corp.Gurit Holding AGEvonik Industries AGi-Core Composites LLCCorelite Inc.Bondi (Shandong) Environmental Material Company LimitedNord Compensati SpA
For more information about this report visit https://www.researchandmarkets.com/research/td7m9h/global_291?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20180918006068/en/
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SOURCE: Research and Markets
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PUB: 09/18/2018 04:02 PM/DISC: 09/18/2018 04:02 PM