Agreements, Partnerships Expansions are the Key Strategies Adopted by the Leading Players in the Global Structural Core Materials Market
By: AB Newswire
September 20, 2021 at 16:16 PM EDT
Browse 93 market data Tables and 38 Figures spread through 150 Pages and in-depth TOC on "Structural Core Materials Market"Structural Core Materials Market by Type (Foam, Honeycomb, and Balsa), Outer Skin Type (GFRP, CFRP, and NFRP), End-use Industry (Aerospace, Wind Energy, Marine, Transportation, and Construction), and Region
Structural core materials are extensively used in composite and non-composite panels, as they aid in increasing the panel’s stiffness and decreasing its density. The demand for structural core materials is increasing significantly with the increasing penetration of composites in various end-use industries, such as aerospace, wind energy, marine, transportation, and construction. The structural core materials market is projected to grow from USD 1.52 Billion in 2017 to USD 2.32 Billion by 2022, at a CAGR of 8.8% during the forecast period.
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Major companies offering structural core materials are mainly involved in agreements, partnerships, and joint ventures to strengthen their position in the structural core materials market. These market players also adopted the strategy of expansion to expand their global reach. Some companies concentrated more on the strategy of new product & technology launches and mergers & acquisitions between 2013 and 2017.
Prominent players in the structural core materials market majorly adopted the strategy of agreements to enhance their network of customers in the aerospace industry. For instance, The Gill Corporation (US) signed a new consignment agreement in February 2017 with the Dubai-based company, Fly Dubai. This agreement would increase the company’s revenue in the aerospace industry. In March 2017, Diab Group (Sweden) and Diehl Aircabin (Germany) signed a long-term agreement for the technological development of several cabin applications in Airbus 350 XWB and Boeing 777 using Divinycell F. This is a strategic development to increase its share in the aerospace market.
Major structural core material manufacturers are Diab Group (Sweden), Hexcel Corporation (US), Schweiter Technologies (Switzerland), Euro Composites (Luxembourg), Gurit Holding (Switzerland), The Gill Corporation (US), Changzhou Tiansheng New Materials Co. Ltd. (China), Plascore Incorporated (US), Armacell International (Luxembourg), and Evonik Industries (Germany). Diab Group (Sweden) and Hexcel Corporation (US) are the most active players in the structural core materials market. These companies adopted various strategies to enhance their market shares in the global structural core materials market.
Diab Group (Sweden) is engaged in development, manufacturing, sales, and marketing of structural core materials for sandwich structures. The company follows dynamic growth strategies with agreements, partnerships, expansions, and new product launches as major growth strategies to enhance its regional presence. For instance, in March 2017, Diab Group and Chimpex Industrial (Italy) collaborated to develop the materialDivinycell P60 for enhancing the mechanical properties of FRP sandwich solution to be used in the ETR 675 (new Italo Train). The partnership would help develop more materials and increase product portfolio.
Hexcel Corporation (US) is engaged in manufacturing, sales, and marketing of honeycomb and foam core materials. It is one of the major players to establish a strong foothold in the structural core materials market. The company has a broad and diversified structural core materials product portfolio, which ensures its consistent growth in the global structural core materials market. It is focused on agreements and expansions as its key growth strategies to meet the growing demand of its customers. The company established a new manufacturing facility in Casablanca, Morocco to cater to the increasing demand for structural honeycomb core materials. This approach by the company is aimed at providing secondary structures of aircraft, nacelles, and helicopter blades to the aerospace industry.
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