Global Structural Core Materials Market

Global Structural Core Materials Market Size, Share, Growth Analysis, By Product(Foam, Balsa), By End-Use(Aerospace, Automotive), By Skin Type(GFRP, CFRP) - Industry Forecast 2024-2031


Report ID: SQMIG15J2061 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 94 | Figures: 76

Global Structural Core Materials Market Dynamics

Structural Core Materials Market Drivers

  • Rising Adoption of Structural Core Material across Various Industries

Rising demand for these materials in several types on end-use applications including packaging, construction, marine, and electronics due to the features like corrosion resistance, high thermal stability, and good dielectric properties are the major factors projected to boost the growth of the global structural core materials market during the forecast period. Additionally, a tremendous rise in the need for clean energy across the globe to reduce the pollution levels across the globe is expected to have positive impact on the market.

Structural Core Materials Market Restraint

  • High Operating Cost to Hamper Market Growth
  • High capital requirement and operating cost coupled with the stringent government regulations regarding carbon emissions are major factors that are expected to restrain the growth of the global structural core materials market throughout the forecast period.
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Structural Core Materials Market size was valued at USD 1778.36 million in 2019 and is poised to grow from USD 1937.5 million in 2023 to USD 3700.2 million by 2031, growing at a CAGR of 8.8% in the forecast period (2024-2031).

The global structural core materials market is fairly fragmented with the presence of many established international and regional companies operating around the globe. The key companies of the market are focusing on implementation of several business developing strategies such as strategic alliances, partnerships, collaborations, technology development, and new product launches to cater the rising consumer demand and strengthen their market position ahead of their competitors. 'DIAB International AB (Sweden)', 'Armacell International (Luxembourg)', '3A Composites GmbH (Switzerland)', 'Gurit (Switzerland)', 'Hexcel Corporation (US)', 'Evonik Industries AG (Germany)', 'The Gill Corporation (US)', 'Changzhou Tiansheng New Materials Co. Ltd. (China)', 'Plascore Incorporated (US)', 'Euro-Composites S.A. (Luxembourg)', 'Schweiter Technologies (Switzerland)', 'Henkel AG & Co. KGaA (Germany)', 'Carbon-Core Corp. (US)', 'CoreLite Inc. (US)', 'Polycarbon Industries (Israel)', 'Janicki Industries (US)', 'Owens Corning (US)', 'SABIC (Saudi Arabia)', 'TenCate Advanced Composites (Netherlands)', 'Solvay (Belgium)'

Rising Adoption of Structural Core Material across Various Industries

Rising Popularity among Automobile Manufacturers

Globally, North America dominated the structural core materials market with a holding of healthy market share in 2021 and is set to continue this dominance over the forecast period. High growth in construction sector, wing energy, and automotive industries especially in countries like the United States and Canada is projected to be the major factors driving the growth of the market in the region. Additionally, large presence of key market players including Hexcel Corporation and The Gill Corporation is also contributing significantly to the growth of the market over the coming years.

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Global Structural Core Materials Market

Product ID: SQMIG15J2061

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