Structural Core Materials Market

Structural Core Materials Market Size (2023-2028):

The Structural Core Base Materials Market size was $ 1.84 billion in 2022 and is expected to reach $ 3.12 billion by 2028, with a CAGR of 9.2% over the forecast period.

The structural core materials are incorporated into composite materials, which are widely used in the construction, automotive, civil infrastructure, aeronautics, military, and corrosion-resistant equipment industries. A composite material is made by mixing more than two materials with various properties. Composites are divided into three types: particle-reinforced composites, fiber-reinforced composites, and structural composites. A sandwich panel is a kind of layered composite with faces and a core. A core is a less dense but strong layer of material filled between two faces in a structural composite. The function of the core is to keep the skins or thin faces in their relative positions by preventing them from bending inward or outward. The stiffness of the structural compound depends on the thickness of the core used. The materials that can be incorporated into the structural core are paper, carbon, and aluminum. Honeycomb is the most common type, followed by moss. Honeycomb is available in such forms as thermoplastic honeycomb, Nomex honeycomb, and aluminum honeycomb. Types of foams include PVC foam, polystyrene foam, polyurethane foam, and polymethylmethacrylate foam.

Structural Core Materials Market Trends:

The type of structural core material is determined depending on the nature of the application. It is then incorporated into the structural compound. The structural base materials are used in the automotive industry for the manufacture of airbags in automobiles. They are also used in safety equipment such as bulletproof vests. In addition, the structural core materials are used in communication antennas and electronic circuit boards. The components of missiles, rockets, and airplanes also contain basic structural materials. Several industries have realized the advantages of structural base materials over solid laminates. The demand for structural base materials is expected to increase steadily in the near future.

Structural Core Materials Market Drivers:

The growing demand for clean energy around the world is a key factor that is expected to drive the growth of the global structural base materials market in the long term. In addition, the increasing use of honeycomb core materials in the automotive and aerospace industries due to their low weight, high stiffness, and other properties is another factor that is expected to stimulate to some extent growth of the target market. In addition, the increased demand for these materials in various end-use industries such as packaging, construction, electronics, and marine, due to the corrosion resistance, good thermal stability, and dielectric properties, is among other factors that are believed to drive the long term growth of the basic building materials market.

Structural Core Materials Restraints:

Strict government regulations on carbon emissions are expected to be another factor limiting the potential growth of the market.

Opportunities in the Structural Core Materials Market:

Increased investment and R&D in aerospace and renewable energy resources, such as wind power, is expected to create lucrative opportunities for manufacturers of structural base materials and is expected to drive market revenue growth potential for years to come.

Challenges in the Structural Core Materials Market:

However, high investment and operating costs are major factors that can slow the growth of the target market in the long term.

STRUCTURAL CORE MATERIALS MARKET REPORT COVERAGE:

Structural Core Materials Market Segmentation:

By Type:

• Foam

• Honeycomb

• Balsa

Foam is expected to be the fastest-growing type of structural core material. The foam core provides strength and rigidity while maintaining the lightness of composite and non-composite structures. The rapid growth of the wind power industry, the manufacturing of wind turbine blades, and the emergence of China and other Asian countries as major producers of wind power are boosting the consumption of foam core, significantly stimulating the structural core materials market.

By Outer Skin Type

• GFRP

• CFRP

• NFRP

• Others

GFRP is the most important segment of the structural core materials market. Indeed, GFRP is widely used in wind turbine blades because it reduces the total weight and thus increases their efficiency. CFRP is the fastest-growing segment and replaces other exterior coatings in sandwich panels in various applications due to its superior properties such as high strength-to-weight ratio, rigidity, corrosion resistance, and good tensile strength.

By End-use Industry:

• Aerospace

• Wind Energy

• Marine

• Transportation

• Construction

• Others

The aerospace sector was the largest end-use segment of the industry in 2019. Air travel between major business centers has increased steadily over the years and this trend is expected to continue over the forecast period. The growing aerospace industry is expected to drive demand for composites, thereby boosting the market for structural base materials. The materials used in the sheets should be light to facilitate the process. As a result, they are increasingly used in wind turbines for the production of wind power. They are used in traditional and marine windmills and this trend is expected to continue during the forecast period. The use of lightweight cores allows blade manufacturers to achieve higher levels of quality and reduced cycle times using an optimized infusion process.

Structural Core Materials Regional Analysis:

• North America 
• Europe 
• Asia Pacific
• Latin America 
• Middle East & Africa 

The Asia-Pacific market is anticipated to be the fastest-growing regional market. The increase in automobile production in the region is a major driver of market growth. In addition, the growing construction industry, mainly in India and China, is also driving the demand for structural base materials. The growing trend towards green energy has led to the development of the wind power industry, in turn fueling the demand for structural base materials in the region. For example, according to India's Ministry of New and Renewable Energy, the country ranks fourth in global installed wind capacity and has a renewable energy target of 185 GW by the end of 2026.

North America was the largest market in 2017 and is expected to maintain its dominant position during the review period. The presence of developed aerospace and automotive industries contributes significantly to the growth of the market, mainly in the United States and Canada. In addition, the increase in public expenditure in the construction sector positively influences the demand for products. According to the United States Census Bureau, total construction spending in the United States was $ 1,241,721 in 2019, rising to $ 1,524,000 at the end of 2021.

Recent Developments in the Structural Core Materials Industry:

• In March 2018, Guritlaunched the latest balsa and PET core materials and the latest little toxicity epoxy lamination system. The new base product Balsaflex Lite includes a new coating system that is said to be able to reduce resin absorption in infusion processes by up to 50% for rigid panels and up to 40% for sheets of soft balsa wood. This means that customers can reduce costs by reducing resin absorption and achieving overall weight savings. Gurit reports that Balsaflex Lite offers superior mechanical properties, high-quality homogeneous wood, good thermal stability, and compatibility with epoxy resin and polyester infusion processes.
• In November 2021, ThermHexWaben, a producer of inexpensive honeycomb cores for parts and sandwich panels, will launch a new core. The latest product has a height of 20mm and a cell size of 5mm.

Structural Core Materials Market Key Players:

1. Diab Group (Sweden)

2. Hexcel Corporation (U.S.)

3. Schweiter Technologies (Switzerland)

4. Euro Composites (Luxembourg)

5. Gurit Holding (Switzerland)

6. Gill Corporation (U.S.)

7. Changzhou Tiansheng