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    High Performance Core Materials Market Report

    High Performance Core Materials Market Report
    Report code - SRAM572 Published On : Jan,2021 No. of Pages: 180
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    High-Performance Structural Core Materials Market | Size, Share, Trend, Forecast, & In See more...

    Impact of COVID-19 on High Performance Core Materials Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on High Performance Core Materials Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Insights

    High-Performance structural core materials constitute PMI, PESU, PEI, and PPSU represents less than 10% share of the total structural core materials market (foam, balsa, and honeycomb core materials). There are just a handful of prominent players that have the capabilities of supplying high-performance structural core materials and hold a distinct position in the market. Key market participants have a wide-geographical presence and also gained excellent brand identity after dedicating eons of presence and efforts to research & development. High-performance structural core materials have been witnessing excellent growth over the past decade. These core materials have the significant potential to replace honeycomb core materials, especially in applications demanding high performance and lightweight property.

    Impact of COVID-19 on the High-Performance Structural Core Materials Market

    High-performance structural core materials are used in several end-use industries with aerospace & defense and wind energy being the key demand generators. The impact of COVID-19 differs from industry to industry with aerospace & defense being the most adversely affected market segment. On one hand, some end-use industries, such as aerospace & defense, and ground transportation, have experienced colossal declines, on the other hand, wind energy is being untouched and rather experiencing impressive growth in 2020.

    The high-performance structural core materials market consecutively registered healthy growth over the trend period (2015-2019) but recorded a hefty decline in 2020 in the wake of the pandemic. The rapid spread of the COVID-19 entirely turned the market table and devastated the market hope by ringing in the death knell by disrupting the supply chain, deferment of orders by airlines and leasing companies, delays in B737 Max approval, and a hefty decline in the transportation market. As a result of that, both of the giants (Boeing and Airbus) had no option except to curtail the production rates of their key programs. Airbus has truncated the production rate of its key programs (A320, A330, and A350) by 1/3 amid the pandemic.

    However, the market is anticipated to rebound from 2021 onwards and likely to cross its 2019-sales value by 2024. An expected recovery in the GDP to revitalize the positive waves, huge order backlogs by Airbus and Boeing, expected increase in aircraft production, B737’s approval from FAA, and growing wind turbine installations will assist the fast recovery of the high-performance structural core materials market. Stratview Research reckons that the market is expected to recoup in the next five years with a healthy CAGR to reach a value of US$ 108 million in 2026.