According to a new report published by MarkWide Research, titled, “Global Core Materials Market,” the global market for core materials is expected to exceed $3.5 billion by 2030, displaying a robust CAGR of 6.3% during the forecast period from 2023 to 2030.
Core materials are essential components in various industries, including aerospace, marine, and construction, providing lightweight and structural support. The market’s growth is driven by the increasing demand for lightweight materials in manufacturing, energy efficiency, and sustainability initiatives.
Key findings from the report:
- Aerospace Industry: Core materials are integral in aerospace applications for weight reduction and enhanced fuel efficiency.
- Marine Sector: Lightweight core materials are used in boat and shipbuilding, contributing to fuel savings and improved performance.
- Construction Applications: Core materials find applications in construction for insulation and structural enhancements.
- Sustainability Initiatives: The adoption of sustainable building practices and materials boosts the demand for eco-friendly core materials.
- Energy Efficiency: Core materials play a role in enhancing energy efficiency in various industries.
- Market Competitors: Leading players in the core materials market include 3A Composites, Hexcel Corporation, and Gurit Holding AG, who continually innovate to meet evolving industry demands.
The report anticipates significant growth in the global core materials market as industries seek lightweight and sustainable materials to meet their evolving needs. MarkWide Research’s comprehensive analysis provides insights into the market’s current landscape and future trends, empowering industry stakeholders to make informed decisions and capitalize on opportunities in the core materials market.
MarkWide Research is a leading market research and consulting firm, providing in-depth analysis and strategic insights across various industries. With a team of experienced analysts, MarkWide Research is committed to delivering actionable intelligence, assisting clients in making informed business decisions and achieving sustainable growth.