Balsa Core Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Balsa Core Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global balsa core materials market size reached US$ 246.7 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 315.8 Million by 2028, exhibiting a growth rate (CAGR) of 4.9% during 2023-2028.

Balsa core material is a honeycomb-like structure derived from balsa wood, which is widely available in various thicknesses, densities, and forms. It is cost-effective and offers several advantages, including high compression, shear strength, and stiffness. As a result, it finds extensive applications in the production of boats, wind turbine blades and structural composite panels. At present, there is an increase in the utilization of balsa core material in the manufacturing of hovercraft, aircraft, and helicopters across the globe.

Balsa Core Materials Market Trends:
The escalating demand for lightweight materials across the globe represents one of the key factors driving the market. Moreover, there is a rise in the usage of balsa core materials in aircraft construction to reduce weight and achieve high tensile strength. This, along with the burgeoning aerospace industry worldwide, is propelling the growth of the market. In addition, the increasing installation of wind turbines due to the limited availability of conventional fuels, such as oil, gas, and coal, and rising environmental concerns are positively influencing the sales of these materials. Besides this, the growing shipping industry on account of the improving international trade is supporting the transportation of goods and raw materials around the world, which is positively influencing the market. Additionally, governments of several countries are extensively investing in the defense industry to enhance national security, which is offering lucrative growth opportunities to investors. Apart from this, the ecological benefits of balsa core materials compared to polyethylene terephthalate (PET) and carbon core materials are stimulating the market growth. Furthermore, key market players are focusing on mergers and acquisitions (M&A), product launches, and expansions to strengthen their overall market share.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global balsa core materials market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, product and end use industry.

Breakup by Type:

Monolayer
Multilayer

Breakup by Product:

Rigid End-Grain
Contoured End-Grain

Breakup by End Use Industry:

Wind Energy
Aerospace
Marine
Transportation
Construction
Others

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

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.

Key Questions Answered in This Report:
How has the global balsa core materials market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global balsa core materials market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the product?
What is the breakup of the market based on the end use industry?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global balsa core materials market and who are the key players?
What is the degree of competition in the industry? Show more