The global balsa core materials market reached a value of US$ 235.2 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 311.7 Million by 2027 exhibiting a CAGR of 4.50% during 2022-2027.
Balsa core materials represent the honeycomb-like structures derived from balsa wood that are commonly available in varying densities and forms. They offer several advantages, such as cost-effectiveness, high shear strength, compression, stiffness, etc. As a result, balsa core materials are extensively utilized in the production of wind turbine blades, boats, structural composite panels, etc. Furthermore, they find wide-ranging applications across numerous sectors, including transportation, aerospace, construction, wind energy, marine, etc.
|Base Year: 2021|
|Forecast Year: 2022-2027|
Balsa Core Materials Market Trends and Drivers:
The increasing need for wind turbines, on account of the limited availability of conventional fuels, such as gas, oil, coal, etc., and the growing environmental concerns among individuals are primarily driving the balsa core materials market.
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Additionally, the widespread product adoption in the manufacturing of aircraft, hovercraft, helicopters, etc., to reduce their weight and achieve high tensile strength is further catalyzing the market growth. Besides this, the shifting consumer preferences from polyethylene terephthalate (PET) and carbon core materials towards balsa core materials that offer various ecological benefits are acting as significant growth-inducing factors.
Moreover, significant improvements in international trade and supply chain infrastructures are catering to the expanding transportation of goods and raw materials, which, in turn, is also augmenting the global market.
Apart from this, the rising investments in R&D activities aimed at enhancing national security are anticipated to fuel the balsa core materials market over the forecasted period.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Balsa Core Materials Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
3A Composites (Schweiter Technologies), Bcomp Ltd., Carbon-Core Corp., CoreLite Inc., Diab International AB, Gurit Holding AG, I-Core Composites LLC and Nord Compensati srl.
The report has segmented the market on the basis of region, type, product and end use industry.
Breakup by Type:
Breakup by Product:
- Rigid End-Grain
- Contoured End-Grain
Breakup by End Use Industry:
- Wind Energy
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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