Balsa Core Materials - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Balsa Core Materials Market is accounted for $226.98 million in 2019 and is expected to reach $384.21 million by 2027 growing at a CAGR of 6.8% during the forecast period. Growth of aerospace industry across various regions and upsurge in demand for lightweight materials across several end-use industries are the major factors driving the market growth. However, high material cost is restraining the market growth. Moreover, technological advancements of balsa core material would provide ample opportunities for the market growth.
Balsa core material is derived from trees, which is specially used as an end-grain wood core. It offers high thermal insulation properties and is a cost-effective material. Balsa core material has a honeycomb-like structure and is available in a wide range of densities, forms, and thicknesses. Balsa’s honeycomb-like cell structure is configured into end grain panels as per specific requirements. Balsa trees grow rapidly, and their core materials are increasingly being used in the production of boats, in transportation, wind turbines blades, and structural composite panels.
Based on type, the multilayer segment is likely to have a huge demand due to its higher energy absorption property as compared to monolayer materials. This has led to increase in adoption of balsa wood with multilayer coating in a wide range of applications such as aerospace, marine, and construction. By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to the development of the marine & wind power industries and increase in demand for lightweight composite materials in economies such as India, China, Korea, Australia, & Japan.
Some of the key players profiled in the Balsa Core Materials Market include 3A Composites Core Materials, Airex AG, Bcomp Ltd, Bondi (Shandong) Environmental Material Co Ltd, Carbon-Core Corp, CoreLite Inc, Diab International AB, Duroplastic Technologies, Euroresins, Evonik Industries AG, Gurit Holding AG, I-Core Composites LLC, Kerfkore Company, Nord Compensati Spa and Schweiter Technologies.
• Rigid End-Grain
• Contoured End-Grain
• Building & Construction
• Wind Energy
• Other Applications
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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