A recent report published by Infinium Global Research on balsa core materials market provides an in-depth analysis of segments and sub-segments in the global as well as regional balsa core materials market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional balsa core materials market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global balsa core materials market. According to the report, the global balsa core materials market is projected to grow at a CAGR of 5.2% over the forecast period of 2019-2025.
Balsa core materials is a structural core material made of a natural, renewable resource called balsa wood. Balsa is not affected by styrene or long resin gel times making it well suited for infusion applications. Balsa trees grow rapidly, and their core materials are used in wind turbines blades, production of boats, and in transportation. It is compatible with all types of manufacturing processes from wet lamination to prepreg construction. It is cost-effective and is available in a wide range of thickness, density, and form.
The growing use of core materials in numerous industries due to its advantages such as stiffness and lightweight nature is primarily driving the growth of the balsa core materials market. In addition, it is a cost-effective material and is increasingly being used in the wind turbines blades, production of boats, aircraft panels, in transportation, and in structural composite panels. The use of balsa core materials enables designers to work with sandwich construction and design, combining the attributes of a resin or fiber laminate on a large structure. The growing demand for a cost-effective and sustainable supply of energy across the world has increased the use of wind energy applications. These wind turbines use balsa core materials due to its high compressive and tensile strength combined with a low density and the potential delivery from renewable resources. Furthermore, the expansion of the automotive and aerospace and defense industries are favoring the growth of the market. However, the high cost for balsa core materials is likely to obstruct the growth of the market in several developing countries. Moreover, increasing investigations on the properties of balsa core materials are projected to increase its applications across several end-use industries, thereby creating opportunities for the market players.
Among the regions, Asia Pacific is anticipated to hold the largest share in the balsa core materials market. Asia Pacific region is expected to continue its dominance over the forecast period owing to growing end-user industries such as automotive, construction, and aerospace across the region. Furthermore, the market in this region is projected to experience huge gains due to increased investments in wind energy projects and aircraft industry. North America is expected to hold the second-largest share owing to the well-developed aerospace and defense sector in this region. Additionally, the U.S. is one of the largest and strongest military bases in the world. The high demand for cost-effective and high strength materials for military applications also drivers the growth of the balsa core materials market in the North America region.
The report on global balsa core materials market covers segments such as type and application. On the basis of type, the sub-markets include Monolayer and Multilayer. On the basis of application, the sub-markets include wind energy, aerospace, marine, transportation, construction and several others.
The report provides profiles of the companies in the market such as Diab International AB, Schweiter Technologies AG, Gurit Holding AG, Evonik Industries AG, Bcomp Ltd., Carbon-Core Corporation, I-Core Composites, LLC, CoreLite Inc., Bondi (Shandong) Environmental Material Co., Ltd., and Nord Compensati SpA.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of balsa core materials market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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