Westford, USA, Aug. 14, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, the global increase in demand for sustainable energy has emerged as a significant driving force behind the growth of the structural core materials market. In addition, with growing urbanization, modernization, and expansion of the building and construction sectors worldwide, there is a heightened need for sustainable infrastructure that incorporates renewable energy sources.
Browse in-depth TOC on "Structural Core Materials Market"
- Pages - 157
- Tables - 94
- Figures – 76
Structural core materials play a crucial role in composite materials, which have extensive applications across diverse industries, including construction, transportation, and wind energy. These materials are commonly utilized for their ability to provide sound insulation and thermal insulation properties in the structural core materials market.
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Prominent Players in Structural Core Materials Market
- DIAB International AB
- Armacell International
- 3A Composites GmbH
- Gurit
- Hexcel Corporation
- Evonik Industries AG
- The Gill Corporation
- Changzhou Tiansheng New Materials Co. Ltd.
- Plascore Incorporated
- Euro-Composites S.A.
- Schweiter Technologies
- Henkel AG & Co. KGaA
- Carbon-Core Corp.
- CoreLite Inc.
- Polycarbon Industries
- Janicki Industries
- Owens Corning
- SABIC
- TenCate Advanced Composites
- Solvay
Honeycomb Segment is Expected to Dominate the Market Due to its Increasing Usage in Numerous Adhesive Applications
Honeycomb segment emerged as the structural core materials market leader in 2022, holding the largest market share, and it is projected to maintain its dominance over the forecast period. This segment's growth can be attributed to various factors, including its specific strength, high stiffness, and increasing usage in numerous adhesive applications. In addition, the unique properties of honeycomb structures, such as their exceptional strength-to-weight ratio and stiffness, make them highly desirable for a wide range of industries.
The markets in North America emerged as the dominant region in the global structural core materials market in terms of revenue in 2022, and this trend is anticipated to persist throughout the forecast period. Furthermore, the market in North America is projected to experience continuous growth until 2030, primarily driven by the expansion of the wind energy, building, and automotive industries.
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Aerospace Segment is Expected to Grow the Market Due to the Increasing Demand for Air Travel
Aerospace segment emerged as the structural core materials market leader, holding the largest revenue share. The significant growth of air travel between major global business hubs in recent years has been a key driving factor for the segment's market expansion. The increasing demand for air travel, particularly between major economic centres, has propelled the aerospace industry forward.
Regional markets in Asia Pacific are projected to exhibit the highest growth rate in the structural core materials market, with a CAGR of 7.6% in revenue from 2023 to 2030. The rapid expansion of the region's commercial and residential construction sectors primarily drives this growth. In addition, the increasing demand for infrastructure development and urbanization is fueling the need for structural core materials in construction projects, boosting market growth.
A comprehensive analysis of the major players in the structural core materials market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in Structural Core Materials Market
- In January 2023, Evonik introduced a new classification of nutraceuticals called IN VIVO BIOTICS. This innovative range of synbiotics combines probiotics, which are beneficial gut bacteria, with other health-enhancing ingredients. The development of IN VIVO BIOTICS is rooted in a comprehensive understanding of human health, leveraging Evonik's extensive expertise in the food ingredients and dietary supplements market.
- Hexcel Corporation, a leading advanced composites manufacturer, received Type approval for its newly developed HexPly M9.6GF prepreg products in 2022. The Type approval was granted by Bureau Veritas, a globally recognized entity specializing in testing, certification, and inspection services.
Key Questions Answered in Structural Core Materials Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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