According to the latest report by IMARC Group, “Global Balsa Core materials Market Research: Size, Share, Growth, Industry Trends, Opportunity and Forecast 2022-2027“, 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 refer to high-density, organic structural core materials made using kiln-dried balsa wood. They are natural, cost-effective, and lightweight materials produced in various densities, forms, and thicknesses that can be tailored to specific applications. They have a honeycomb-like structure and exhibit superior properties, such as stiffness, rigidity, and compressive, flexural and shear strength. They also have high resistance to temperature changes, fire, moisture, and chemicals and can form an excellent bond with resins and adhesives. As a result, balsa core materials are widely used in manufacturing boats, wind turbine blades, structural composite panels, hovercraft, aircraft, and helicopters.
| Report Metric |
| Historical: 2016-2021 |
| Base Year: 2021 |
| Forecast Year: 2022-2027 |
Balsa Core Materials Market Trends and Drivers:
The global balsa core materials market is primarily driven by the growing need for lightweight structural composite materials. In addition, with depleting conventional fuels, such as coal, oil, and gas, and escalating demand for wind energy, there has been a widespread installation of wind turbines.
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Besides this, the increasing product applications in aircraft construction to reduce its weight and improve tensile strength have augmented the demand for balsa core materials. Furthermore, the shifting preferences from polyethylene terephthalate (PET) and carbon core materials toward balsa core materials due to their superior ecological advantages has accelerated the product adoption rate.
Other factors, including the expanding aerospace industry, emerging automotive and construction applications, stringent government regulations, extensive investments in product innovations, and technological advancements, are also anticipated to catalyze the market growth.
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:
Competitive Landscape:
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:
Breakup by End Use Industry:
Breakup by Region:
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Key highlights of the report:
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Continue Reading: Global Construction Glass Market Trends, Business Challenges, Opportunities, CAGR Growth, Regional Demand and Forecast 2022-2027
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