Non-Honeycomb Sandwich Panel Core Materials Market by Material Type (Foam and Balsa), End User Industry (Aerospace, Wind Energy, Marine, Transportation, Construction and Others)-Global Opportunity Analysis and Industry Forecast, 2017-2023
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The global non-honeycomb sandwich panel core materials market was valued at $610 million in 2016, and is expected to reach $894 million by 2023, registering a CAGR of 5.6% from 2017 to 2023. A sandwich panel is a composite material that integrates a low-density core between two opposing sandwich panel skins.
In the aerospace industry, sandwich panels are commonly used for a wide range of applications, from fuselage and wing skins to interior decorative panels.
Growth in demand for lightweight & durable materials in wind energy, marine, and construction industries for structural applications drives the growth of the market.
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Presently, the wind energy industry dominates the sandwich panel material market. Utilization of sandwich composite panels has increased owing to their characteristics such as enhanced performance and sustainable properties.
Adoption of sandwich panel materials (non-honeycomb core) is highest in the Asia-Pacific region due to increase in demand from end-user industries and rise in need for sustainability in materials. However, the time consuming and complex manufacturing process is expected to hamper the market growth.
Technological advancements in the composite molding processes, specifically related to sandwich panels, are anticipated to provide numerous growth opportunities for the market players.
The global non-honeycomb sandwich panel core materials market is segmented on the basis of material type, end user, and geography. By material type, the market is bifurcated into foam (low-density foam and high-density foam) and balsa.
Based on end user, it is categorized into aerospace, wind energy, marine, transportation, construction, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
In 2016, Asia-Pacific occupied the largest market share, followed by Europe, due to major growth in wind energy and marine end use industries. Asia-Pacific and LAMEA are anticipated to witness significant increase in demand for sandwich panel composites, owing to their growing transportation sector, improving infrastructure, and stable economic growth.
The prominent players in the global non-honeycomb sandwich panel core materials market have strategically focused on acquisition and product launches as their key strategies to gain significant market share.
The key players profiled in the report are as follows:
- Diab Group
- Hexcel Corporation
- 3A Composites
- Euro-Composites S.A.
- Gurit Holding AG
- The Gill Corporation
- Changzhou Tiansheng New Materials Co. Ltd.
- Plascore Incorporated
- Armacell International S.A.
- Evonik Industries AG.
- This report provides an extensive analysis of the current trends and emerging estimations & dynamics in the non-honeycomb sandwich panel core materials market.
- In-depth analysis of non-honeycomb sandwich panel core materials market size is conducted and estimations for key segments between 2015 and 2023 are provided.
- Competitive intelligence (of leading manufacturers and distributors of non-honeycomb sandwich panel core materials) helps understand the competitive scenario across the geographies.
- Global non-honeycomb sandwich panel core materials industry analysis for factors that drive and restrain the growth of the market are provided.
- Non-honeycomb sandwich panel core materials industry analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
- Non-honeycomb sandwich panel core materials market share for all segments with respect to each geography is detailed in the report, which helps in understanding the trends in the industry at granular level.
- Key market players are profiled and their strategies are analyzed thoroughly, which provide a competitive outlook of the non-honeycomb sandwich panel core materials industry trends.
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