The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The core materials market has experienced rapid growth, with the market size expected to reach $1.74 billion in 2024, growing at a compound annual growth rate (CAGR) of 13.7%. This growth can be attributed to factors such as the demand for lightweight materials, environmental regulations, and the growth of the wind energy sector. Looking ahead, the market is projected to continue its rapid growth, reaching $2.85 billion by 2028, with a CAGR of 13.1%.

Increasing Demand for Electric Vehicles

The increase in demand for electric vehicles (EVs) is expected to drive the growth of the core materials market. Core materials, such as advanced composites and lightweight foams, are essential in the manufacturing of components for EVs, including body panels and interiors. With global EV sales continuing to rise, the demand for core materials in the automotive sector is expected to increase significantly.

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Product Innovation Driving Market Growth

Product innovation is a key trend in the core materials market, with major companies focusing on innovating products to gain a competitive edge. For example, SAERTEX GmbH & Co. KG launched SAERfoam, an innovative structural core material that combines 3D glass reinforcement with ultralight foam. This product innovation is aimed at replacing traditional core materials and enhancing the handling of infusion-molded constructions.

3A Composites Core Materials Strengthens Portfolio

In a move to strengthen its portfolio, 3A Composites Core Materials acquired Solvay’s TegraCore PPSU resin-based foam. This acquisition will enable 3A Composites Core Materials to expand its lineup and target markets such as aerospace, maritime, and rail. Solvay is a Belgium-based chemical company that develops solutions for various industries.

Market Segmentation and Regional Outlook

The core materials market is segmented by type, distribution channel, and end-use industry. Types of core materials include foam, honeycomb, and wood. The market serves various end-use industries, including wind energy, aerospace and defense, marine, automotive, building and construction, and medical. Asia-Pacific was the largest region in the core materials market in 2023, reflecting the region’s growing demand for core materials in various industries.

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The Core Materials Global Market Report 2024  provides an overview of the core materials market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The core materials market forecast analyzes core materials market size, core materials market share, leading competitor and their market positions.

The Table Of Content For The Core Materials Market Include:
1. Core Materials Market Executive Summary
2. Core Materials Market Segments
3. Core Materials Market Size And Core Materials Market Growth Rate
4. Key Core Materials Market Trends
5. Major Core Materials Market Drivers
……
25. Key Mergers And Acquisitions In The Core Materials Market
26. Top Core Materials Companies
27. Core Materials Market Opportunities And Strategies
28. Core Materials Market, Conclusions And Recommendations
29. Appendix

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