High-Performance Core Materials Market is Forecast to Reach US$ 815 Million in 2028, Says Stratview Research

The high-performance core materials market is likely to rise at a CAGR of 8.7% during 2023-2028, to reach US$ 815 million in 2028, states Stratview Research.

DETROIT, Dec. 26, 2023 /PRNewswire/ -- Stratview Research, a global market research firm has launched a report on the global high-performance core materials market which provides a comprehensive analysis of the global and regional industry forecast, current & emerging trends, segment analysis, and competitive landscape.

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Report Highlights

Segment Insights on High-Performance Core Materials Market

The global high-performance core materials market is segmented based on core material type, end-use industry type, and region.

Based on core material type - The market is segmented into honeycomb core and high-performance foam core. Between these two core material types, Honeycomb core is estimated to maintain its supremacy in the market over the next five years, owing to its excellent track record and excellent properties. High penetration of Nomex honeycomb in the aerospace and defense industry has led to their dominance over the other honeycomb types. Among high-performance foam cores, PMI has a higher usage in aircraft exteriors, whereas PEI, PESU, and PPSU have more prevalence in interiors.

Based on end-use industry type - The market is segmented into aerospace & defense, ground transportation, wind energy, and others. Despite logging a massive decline in 2020 and 2021, aerospace & defense is expected to maintain its dominant position in the market in years to come. Increasing usage of high-performance foam core materials, especially PMI foam core, in certain applications of the aerospace industry, such as landing gear doors, radome, antennas, horizontal stabilizers, ailerons, helicopter blades, and pressure bulkhead stringers, coupled with continued growth is the usage of honeycomb core in the aerospace & defense industry are the major growth drivers of the market. Wind energy also holds a considerable share of the market. The excellent growth in wind energy in 2020 heavily mitigated the wreckage impact of the pandemic on the demand for core materials including high-performance core materials.

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Which Region Offers the Best Opportunity and Growth?

The report suggests that North America is expected to remain the largest market during the forecast period. This growth is majorly attributed to the following – 

-  The USA acts as a growth engine of the region with the presence of several leading aerospace OEMs and tier players.

Asia-Pacific is projected to witness the fastest growth in the market over the next five years, with excellent growth in wind turbine installations, huge order backlogs for various aircraft programs in the region, and the expected market entry of COMAC C919.

High-Performance Core Materials Market Drivers

Some of the key drivers listed in the report are given below.

-  An expected increase in production rates of key aircraft programs.
-  Huge growth in wind turbine installations projected by the Global Wind Energy Council (GWEC).

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Top Companies in the High-Performance Core Materials Market?

The market is fairly consolidated with the presence of some global and regional players. Stratview Research has identified the following companies as the top market players.

-  3A Composites GmbH
-  Diab International AB
-  Euro-Composites Corporation
-  Evonik Industries AG
-  Hexcel Corporation
-  Plascore Inc.
-  Schütz GmbH & Co. KGaA
-  Showa Aircraft Industry Co., Ltd.
-  The Gill Corporation.

What Deliverables Will You Get in this Report?

Related reports which might be useful:

• Honeycomb Core Materials Market
• Structural Core Materials Market

About us –

Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. The reliability and insightfulness of the reports enable the readers take convincing business decisions.

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