Balsa Core Materials Market Size, Share & Trends Analysis Report by Type (Contoured End-grain and Rigid End-grain), by Layer Type (Multilayer, Monolayer), by Application (Wind Energy, Aerospace), by End-use, by Region, And Segment, Forecast Period-2022 – 2028

Report ID - MRC_436 | Pages - 235 | Category - Materials And Chemicals

Balsa Core Materials Market Insights

Balsa Core Materials Market is projected to be worth USD 300.58 Million by 2028, registering a CAGR of 4.6% CAGR during the forecast period (2022-2028), the market was valued at USD 225.48 million in 2020. Contoured end-grain has larger share in global balsa core materials market as it provides high resistance to crushing and is extremely difficult to tear apart. In terms of processing, the adhesive bonding segment accounted largest share as aerospace, wind energy and other industries make use of adhesive bonding. Asia Pacific accounted for a significant share of the global balsa core materials due to rapid growth in the demand for balsa core materials in the region is expected to rise during the forecast period.

Balsa core material is a low-cost material that can be customized for specific applications. Balsa trees grow quickly, and their core materials are increasingly used in the manufacturing of aircrafts, boats, vehicles, wind turbine blades, and structural composite panels. Balsa core material is suitable for a wide range of applications due to its high specific stiffness and rigidity and improved moisture resistance. Sandwich panels made of balsa wood cores are used in aircraft construction to reduce weight while maintaining high compressive and tensile strength. Aerospace designers and aircraft manufacturers in the UK and elsewhere are shifting their preference for balsa wood core material for hovercraft, aircraft, and helicopter manufacturing.

Balsa Core Materials Market Dynamics

Driver:

The expanding aerospace industry’s product demand is a key factor driving the growth of the balsa core materials market. Commercial aircraft sales are increasing due to growing air services in various countries around the world. This has raised the demand for balsa wood cores, which are used in the manufacture of aircraft sandwich panels to reduce overall vehicle weight.

Restrain:

The material’s low density and inability to absorb resins during panel lamination have been identified as major restraints in the balsa core materials market. Balsa-based core materials have a low density, which makes them prone to breakage and damage in some cases. Furthermore, due to their incompatibility with resins, panel manufacturers find it difficult to use balsa wood as a core material.

Opportunity:

The growing product demand in emerging economies has been identified as the major opportunity in the balsa core materials market. Countries such as China and India have emerged as important locations for wind energy projects, as both continue to invest heavily in the development of power projects. These investments are primarily aimed at achieving national wind energy generation targets. Balsa-based core material is expected to see increased demand from the energy industry in the coming years due to its importance in the development of wind turbines.

COVID-19 Analysis of Balsa Core Materials Market:

The COVID-19 pandemic has had a significant impact on the chemical and material industries, including balsa core materials. Many companies in the balsa core materials industry had experienced manufacturing and production limitations, as well as logistical issues due to the pandemic situation. As, markets are opening around the world, vaccination development, and various government initiatives to support economic and industrial growth. Thus, the future demand for balsa core materials is expected to grow at a positive and consistent rate in the coming years.

Balsa Core Materials Market Report Coverage

Report AttributesReport Details
Study Timeline2016-2028
Market Size in 2028 (USD Million)300.58
CAGR (2022-2028)4.6%
By TypeContoured End-grain, Rigid End-grain
By Layer TypeMultilayer, Monolayer
By ProcessingAdhesive Bonding, Compression Molding, Prepreg Processing, Resin Injection, Vacuum Infusion, Hand Lamination, Others
By ApplicationWind Energy, Aerospace, Marine, Transportation, Construction, Other
By geographyNorth America: U.S., Canada, Mexico

Europe: Germany, France, U.K., Russia, Italy, Spain, BENELUX, Rest of Europe

Asia Pacific: China, Japan, India, South Korea, Australia, ASEAN, Rest of Asia Pacific

Latin America: Brazil, Argentina, Chile, Rest of Latin America

The Middle East and Africa: GCC, Turkey, Israel, Rest of MEA

Balsa Core Materials Market Segmental Analysis:

By Type

The type segment is bifurcated into contoured end-grain and rigid end-grain. Contoured end-grain accounted for more than half of the global balsa core materials market for structural composites. Between 2020 and 2028, it is expected to maintain its dominance in the global balsa core materials market for structural composites. The contoured end grain configuration of balsa provides high resistance to crushing and is extremely difficult to tear apart and can also withstand high dynamic loads while remaining fatigue resistant. Contoured end-grain balsa core material is widely used in the aircraft, railway, marine, and wind energy industries. The growing popularity of contoured end-grain balsa core material with functional effects has increased demand for contoured end-grain. As a result, the contoured end-grain segment is expected to remain highly appealing throughout the forecast period.

global balsa core materials market by type

By Layer Type

The layer segment is classified into multilayer and monolayer. As multilayer materials absorb more energy than monolayer materials, the multilayer sub segment is expected to be the most profitable. This has resulted in an increase in the use of balsa wood with multilayer coating in a variety of applications including aerospace, marine, and construction.

global balsa core materials market by layer type

By Processing

The processing segment is divided into adhesive bonding, compression molding, prepreg processing, resin injection, vacuum infusion, hand lamination, and others. In terms of processing, the adhesive bonding segment accounted for largest share in balsa core materials market for structural composites. During the forecast period, this trend is expected to continue. Aerospace, industrial, and wind energy applications all make use of adhesive bonding. As a result, it is expected that the expansion of the processing segment will provide lucrative opportunities to the balsa core materials market for structural composites in the coming years. During the forecast period, compression moulding and prepreg processing are expected to be important segments of the balsa core materials market for structural composites.

Application

The Application segment is categorized into wind energy, aerospace, marine, transportation, construction, and others. In terms of application, wind energy is a highly profitable segment of the global balsa core materials market for structural composites. This pattern is expected to persist throughout the forecast period. Balsa core materials for structural composites are primarily used in the manufacturing of wind turbine blades, nacelle covers, generator casings, and other parts. These materials contribute to the weight reduction of structural composites while also increasing energy yield. Furthermore, the demand for balsa core materials in the design of turbine blades, nacelle covers, generator casings, and other components is growing. As they have strong mechanical properties, excellent fatigue life, and high bond strength with common adhesives and resins. During the forecast period, these factors are expected to drive the wind energy segment of the global balsa core materials market for structural composites.

By Region

The region segment is divided into Asia Pacific, Europe, North America, Middle East and Africa, Latin America. Asia Pacific accounted for a significant share of the global balsa core materials market for structural composites in terms of volume. Due to rapid growth in the various end-use industries, demand for balsa core materials in the region is expected to rise during the forecast period. This is due to large-scale wind power project development in China, India, and Japan, where balsa-based core materials are widely used in the manufacturing of wind turbine blades. Consistent demand for high-performance, high-strength, and lightweight materials in automotive, aerospace, and marine applications is responsible for the Asia Pacific market growth.

Balsa Core Materials Market Competitive Landscape:

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Further, the surge in Research and Development (R&D), product innovation, and various business strategies have accelerated the growth of the market. Some of these players in Balsa Core Materials Market are as follows.

Key Players

  • 3A Composites Core Materials
  • Carbon-Core Corporation
  • Gurit Holding AG
  • CoreLite, Inc.
  • Nord Compensati SRL
  • Diab Group
  • I-Core Composites, LLC
  • Sicomin Epoxy Systems
  • Adhesive Technologies NZ
  • Specialized Balsa Wood, LLC,
  • Bcomp Ltd.

Table of Content

  1. Introduction
    • Market Introduction
    • Market Research Methodology
      • Research Process
      • Primary Research
      • Secondary Research
      • Data Collection Technique
      • Data Sources
    • Market Estimation Methodology
      • Limitations of the Study
    • Product Picture of Balsa Core Materials
    • Global Balsa Core Materials Market: Classification
    • Geographic Scope
    • Years Considered for the Study
    • Research Methodology in brief:
    • Parent Market Overview
    • Overall Balsa Core Materials Market Regional Demand
    • Research Programs/Design
    • Market Breakdown and Data Triangulation Approach
    • Data Source
    • Secondary Sources
    • Primary Sources
    • Primary Interviews:
    • Average primary breakdown ratio
  2. Executive Summary
    • Business Trends
    • Regional Trends
    • Type Trends
    • Layer Type Trends
    • Processing Trends
    • Application Trends
  3. Market Dynamics
    • Drivers
      • Drivers
    • Restraints
      • Restraints
    • Opportunity
      • Impact forces for market dynamics
      • Impact forces during the forecast years
    • Industry Value Chain
      • Upstream analysis
      • Downstream analysis
      • Distribution Channel
      • Direct Channel
      • Indirect Channel
    • Potential Customers
    • Manufacturing/Operational Cost Analysis
    • Pricing Analysis by Region
    • Key Technology Landscape
    • Regulatory Analysis
    • Porter’s Analysis
      • Supplier Power
      • Buyer Power
      • Substitution Threat
      • Threat from New Entry
      • Competitive Rivalry
    • PESTEL Analysis
    • Political Factors
    • Economic Factor
    • Social Factors
    • Technological Factor
    • Environmental Factors
    • Legal Factor 81
    • Covid-19 impact on Global economy
    • Covid-19 impact on Balsa Core Materials demand
    • Post Covid Impact on Balsa Core Materials Market Demand
    • Impact Analysis of Russia-Ukraine Conflict
  4. Global Balsa Core Materials Market Analysis Forecast by Type
    • Global Balsa Core Materials Segment by Type
      • Global Balsa Core Materials Market Revenue Share (%), by Type, 2021
      • Global Balsa Core Materials Market Volume (Kilo Tons), by Type, 2016 – 2028
      • Global Balsa Core Materials Market Revenue (USD Million), by Type, 2016 – 2028
    • Global Balsa Core Materials Market Volume (Kilo Tons) & Revenue (USD Million), by Type, 2016 – 2028
      • Contoured End-grain
      • Rigid End-grain
  1. Global Balsa Core Materials Market Analysis Forecast by Layer Type
    • Global Balsa Core Materials Segment by Layer Type
      • Global Balsa Core Materials Market Revenue Share (%), by Layer Type, 2021
      • Global Balsa Core Materials Market Volume (Kilo Tons), by Layer Type, 2016 – 2028
      • Global Balsa Core Materials Market Revenue (USD Million), by Layer Type, 2016 – 2028
    • Global Balsa Core Materials Market Volume (Kilo Tons) & Revenue (USD Million), by Layer Type, 2016 – 2028
      • Multilayer
      • Monolayer          
  1. Global Balsa Core Materials Market Analysis Forecast by Processing
    • Global Balsa Core Materials Segment by Processing
      • Global Balsa Core Materials Market Revenue Share (%), by Processing, 2021
      • Global Balsa Core Materials Market Volume (Kilo Tons), by Processing, 2016 – 2028
      • Global Balsa Core Materials Market Revenue (USD Million), by Processing, 2016 – 2028
    • Global Balsa Core Materials Market Volume (Kilo Tons) & Revenue (USD Million), by Processing, 2016 – 2028
      • Adhesive Bonding
      • Compression Molding
      • Prepreg Processing
      • Resin Injection
      • Vacuum Infusion
      • Hand Lamination
      • Others
    1. Global Balsa Core Materials Market Analysis Forecast by Application
      • Global Balsa Core Materials Segment by Application
        • Global Revenue Share (%), by Application, 2021
        • Global Volume (Kilo Tons), by Application, 2016 – 2028
        • Global Revenue (USD Million), by Application, 2016 – 2028
      • Global Balsa Core Materials Market Volume (Kilo Tons) & Revenue (USD Million) by Application, 2016-2028
        • Wind Energy
        • Aerospace
        • Marine
        • Transportation
        • Construction
        • Others
    1. Balsa Core Materials Market by Regions
      • Global Overview, By Region
        • Global Revenue, By region
      • Global Volume (Kilo Tons) & Revenue (USD Million), 2016-2028
        • Global Revenue Share (%) by region, 2021
      • North America
        • North America Volume (Kilo Tons) & Revenue (USD Million), 2016-2028
      • Asia Pacific
        • APAC Volume (Kilo Tons) & Revenue (USD Million), 2016-2028
      • Europe
        • Europe Volume (Kilo Tons) & Revenue (USD Million), 2016-2028
      • Latin America
        • Latin America Volume (Kilo Tons) & Revenue (USD Million), 2016-2028
      • Middle East & Africa
        • Middle East & Africa Volume (Kilo Tons) & Revenue (USD Million), 2016-2028
    1. North America
      • North America Balsa Core Materials Market Size by Countries
        • North America Volume (Kilo Tons) by Countries (2016-2021)
        • North America Revenue (USD Million) by Countries (2016-2021)
        • North America Volume (Kilo Tons), by Type, 2016 – 2028
        • North America Revenue (USD Million), by Type, 2016 – 2028
        • North America Volume (Kilo Tons), by Layer Type, 2016 – 2028
        • North America Revenue (USD Million), by Layer Type, 2016 – 2028
        • North America Volume (Kilo Tons), by Processing, 2016 – 2028
        • North America Revenue (USD Million), by Processing, 2016 – 2028
        • North America Volume (Kilo Tons), by Application, 2016 – 2028 133
        • North America Revenue (USD Million), by Application, 2016 – 2028
      • United States
        • U.S. Volume (Kilo Tons), by Type, 2016-2028
        • U.S. Revenue (USD Million), by Type, 2016 – 2028
        • U.S. Volume (Kilo Tons), by Layer Type, 2016 – 2028
        • U.S. Revenue (USD Million), by Layer Type, 2016 – 2028
        • U.S. Volume (Kilo Tons), by Processing, 2016 – 2028
        • U.S. Revenue (USD Million), by Processing, 2016 – 2028
        • U.S. Volume (Kilo Tons), by Application, 2016 – 2028
        • U.S. Revenue (USD Million), by Application, 2016 – 2028
      • Canada
      • Mexico
    2. Europe
      • Europe Balsa Core Materials Market Size by Countries
        • Europe Market Size, by Type, 2016 – 2028
        • Europe Market Size, by Layer Type, 2016 – 2028
        • Europe Market Size, by Processing, 2016 – 2028
        • Europe Market Size, by Application, 2016 – 2028
      • Germany
      • France
      • UK
      • Spain
      • Russia
      • Italy
      • BENELUX
    3. Asia Pacific
      • Asia Pacific Balsa Core Materials Market Size by Countries
        • Asia Pacific Market Size, by Type, 2016 – 2028
        • Asia Pacific Market Size, by Layer Type, 2016 – 2028
        • Asia Pacific Market Size, by Processing, 2016 – 2028
        • Asia Pacific Market Size, by Application, 2016 – 2028
      • China
      • Japan
      • Australia
      • South Korea
      • India
      • ASEAN
    4. Latin America
      • Latin America Balsa Core Materials Market Size by Countries
        • Latin America Market Size, by Type, 2016 – 2028
        • Latin America Market Size, by Layer Type, 2016 – 2028
        • Latin America Market Size, by Processing, 2016 – 2028
        • Latin America Market Size, by Application, 2016 – 2028
      • Brazil
      • Argentina
      • Chile
    5. Middle East and Africa
      • Middle East and Africa Balsa Core Materials Market Size by Countries
        • Middle East and Africa Market Size, by Type, 2016 – 2028
        • Middle East and Africa Market Size, by Layer Type, 2016 – 2028
        • Middle East and Africa Market Size, by Processing, 2016 – 2028
        • Middle East and Africa Market Size, by Application, 2016 – 2028
      • GCC
      • Turkey
      • South Africa
    6. Global Balsa Core Materials Market by Players
      • Global Balsa Core Materials Market Revenue Share (%): Competitive Analysis, 2021
        • Key entry strategies adopted by market players
        • Global Revenue (USD Million), By Manufacturer 2021
        • Global Revenue Share (%), By Manufacturer 2021
        • Global Player Positioning, By Manufacturer 2021
    1. Global Balsa Core Materials Market: Recent Development
  1. Competitive Analysis
    • 3A Composites Core Materials
      • Business Overview
      • 3A Composites Core Materials Business Financials (USD Million)
      • 3A Composites Core Materials Balsa Core Materials Product Category, Type and Specification
      • 3A Composites Core Materials Main Business/Business Overview
      • 3A Composites Core Materials Geographical Analysis
      • 3A Composites Core Materials Recent Development
      • 3A Composites Core Materials Swot Analysis
    • Carbon-Core Corporation
    • Gurit Holding AG
    • CoreLite, Inc.
    • Nord Compensati SRL
    • Diab Group
    • I-Core Composites, LLC
    • Sicomin Epoxy Systems
    • Adhesive Technologies NZ
    • Specialized Balsa Wood, LLC,
    • Bcomp Ltd.
  2. Market Research Findings & Conclusion

Disclaimer 

Research Methodology

The Market Research Community offers numerous solutions and its full addition in the research methods to be skilled at each step. We use wide-ranging resources to produce the best outcome for our customers. The achievement of a research development is completely reliant on the research methods implemented by the company. We always faithful to our clients to find opportunities by examining the global market and offering economic insights.

Market Research Community are proud of our widespread coverage that encompasses the understanding of numerous major industry domains. Company offers consistency in our research report, we also offers on the part of the analysis of forecast across a range of coverage geographies and coverage. The research teams carry out primary and secondary research to carry out and design the data collection methods.
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