Stratview Research announces the launch of a new research report on High-Performance Structural Core Materials Market by Materials Type (PMI, PESU, PEI, and PPSU), by End-use Industry (Aerospace & Defense, Ground Transportation, Wind Energy, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Size, Share, Trend, Forecast, & Industry Analysis: 2021-2026.
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s high-performance structural core material’s market realities and future market possibilities for the forecast period of 2021 to 2026. The report estimates the short- as well as long-term repercussions of the COVID-19 pandemic on the demand for aramid fibers at the global, regional, as well as country level. Also, the report provides the possible loss that the industry will register by comparing pre-COVID and post-COVID scenarios. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as formulate growth strategies.
High-Performance Structural Core Materials Market: Highlights from the Report
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 remained 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 giants (Boeing and Airbus) had no option but to curtail the production rates of their key programs. Airbus has truncated the production rate of its key programs (A320, A330, and A350) by 1/3rd 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 fast recovery of the high-performance structural core materials market. Stratview Research believes that the market is expected to rebound in the next five years with a healthy CAGR to reach a value of US$ 108 million in 2026.
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Based on the material type the market is segmented into Polymethacrylimide (PMI), Polyethersulfone (PESU), Polyetherimide (PEI), and polyphenylsulfone (PPSU). PMI foam core is expected to remain the most dominant material type in the market in years to come. It has a high prevalence in the aerospace and wind energy industries. PMI foam cores are lightweight, durable over their lifetime, and relatively less expensive to produce. Also, PMI cores have excellent damage tolerance and damage visibility, which are essential while designing any structural sandwich components.
Based on the end-use industry type, aerospace & defense is expected to maintain its dominant position in the market during the forecast period despite logging a massive decline in 2020. Aircraft radome, main and tail rotor blades, ceiling panels, floor panels, and cockpit doors are some key applications of high-performance structural core in the aerospace industry. Wind energy also holds a considerable share in the market. The excellent growth in wind energy in 2020 heavily mitigated the wreckage performed by the pandemic on the demand for core materials including the high-performance core materials.
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All regions experienced significant decline in the demand for high-performance core materials in 2020. Among regions, North America is expected to remain the largest market during the forecast period. The USA acts as a growth engine of the region with the presence of several leading aerospace OEMs and tier players. The Asia-Pacific’s market witnessed the least decline in the demand for high-performance structural cores in 2020 in the wake of a huge installed base of wind turbines and opening of an assembly base of commercial aircraft programs in the region.
The supply chain of this market comprises raw material suppliers, high-performance structural core material manufacturers, sandwich panel manufacturers, tier players, OEMs, and end-users. Key high-performance structural core material manufacturing companies are:
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
This report studies the high-performance structural core materials market and has segmented the market in three ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the three ways in which the market is segmented:
High-Performance Structural Core Materials Market Size, Share, & Forecast, by Material Type
High-Performance Structural Core Materials Market Size, Share, & Forecast, by End-use Industry Type
High-Performance Structural Core Materials Market Size, Share, & Forecast, by Region
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