Global Balsa Core Materials Market 2018-2022
About Balsa Core Materials
Balsa core materials are primarily derived from wood grains of the balsa tree. These materials are preferred for their good thermal insulation, high strength, and compressive properties, and are commonly called wood core materials.
Technavio’s analysts forecast the global balsa core materials market to grow at a CAGR of 5.46% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global balsa core materials market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of balsa core materials.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Balsa Core Materials Market 2018-2022
Technavio recognizes the following companies as the key players in the global balsa core materials market: Airex, Carbon-Core, CoreLite, Diab, Gurit, and I-Core Composites.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is increasing popularity of green bonds. Green bonds refer to bonds with proceeds reserved for green investments and are issued as green by the issuing authorities. Banks too have shown their interest in green bonds. For instance, the Korean development bank issued a green corporate bond for renewable energy projects worth $300 million in July 2017. In addition, the National Bank of Australia issued a green bond in connection to a range of seventeen wind and solar farms. These green bonds fuel the growth of the global wind energy market with increased investments in the installation of wind turbines.”
According to the report, one of the major drivers for this market is Growth and development of the shipping industry. Maritime transport is a vital contribution to the world’s economy as more than 90% of the trade is carried out by sea, as it is a cost-effective way to transport the goods and raw materials around the world. In 2015, the World Trade Organization (WTO) estimated that the seaborne freight accounted for more than 30% of the world transport.
Further, the report states that one of the major factors hindering the growth of this market is Slower adoption of emerging applications. Despite the increase in the awareness of energy savings globally, many people remain ignorant about the benefits of balsa core materials in terms of their durability and high strength. Currently, balsa core materials are used extensively in the wind energy and marine industries. The commercial use of balsa core materials in other applications is still limited to a small number of industries.
Airex, Carbon-Core, CoreLite, Diab, Gurit, and I-Core Composites.
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