Opportunities for balsa core material market to reach $231 million by 2021
According to a new market report published by Lucintel, the future of the global balsa core material market looks good with opportunities in the wind energy and marine industries. The global balsa core material market is expected to reach an estimated $231 million by 2021 and is forecast to grow at a CAGR of 3.5% from 2016 to 2021.
The major driver for the growth of this market is increasing demand for lightweight materials in the end use industries.
This report has 66 figures/charts and 19 tables spread through 90 pages
In this market, wind energy and marine are the major end use industries.
On the basis of comprehensive research, Lucintel forecasts that the wind energy segment is expected to remain the largest application by both value and volume. Expected increases in wind turbine capacity installation are the major driving forces that spur growth for this segment over the forecast period.
Asia Pacific is expected to remain the largest market due to the increasing wind turbine capacity installations in this region.
North America is expected to witness the highest growth over the forecast period due to the anticipated growth in wind turbine installation.
For business expansion, this report suggests innovation for achieving low resin uptake in balsa core.
Emerging trends which have a direct impact on the dynamics of the industry include technological advancements to reduce resin absorption of balsa core. DIAB, 3A Composites, Gurit, CoreLite, and I-Core Composites are among the major suppliers of balsa core material.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global balsa core material market by end use application and region, and has compiled a comprehensive research report entitled “Growth Opportunities in the Global Balsa Core Material Market 2016-2021: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a springboard for growth strategy, as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the growth opportunities in the global balsa core material market by end use application and region, as follows:
By end-use application [Volume (M lbs) and Value ($ million) from 2010 to 2021]:
- Wind Energy
By region [Volume (M lbs) and Value ($ million) from 2010 to 2021]:
- North America
- Asia Pacific
- Rest of the World
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