Most technologies for assembling sandwich structures are either quick, leading to reduced expenses though with poor mechanical properties or the advances are tedious bringing about high costs. Subsequently, the requirement for savvy, rapid processing sandwich structures has expanded to create sandwich panels with engineered properties.
Portland, OR -- (SBWIRE) -- 06/21/2018 -- Non-Honeycomb Sandwich Panel Core Materials Market was valued at $610 million in 2016, and is expected to reach $894 million by 2023, registering a CAGR of 5.6% from 2017 to 2023. A sandwich composite panel is fabricated with a combination of fiber sandwich panel skins and a low-density core, which increases the thickness of the structure, while reducing the overall weight. The resulting sandwich material therefore exhibits a high specific stiffness and strength.
The global non-honeycomb sandwich panel core materials market is majorly driven by rapid & economic construction techniques and manufacture of lightweight parts. In addition, sandwich panels with low-density foam cores are ideal for use in large construction projects to be accomplished in a short timeframe, thus allowing monetary savings. Moreover, increase in demand for lightweight materials from aerospace industry has gained prominence in the past few decades. Sandwich materials in aerospace industry are used in applications such as aircraft cabin floor, walls, ceilings, overhead bins, and others. Design freedom provided by sandwich panels has further contributed to the growth of this market.
However, the time consuming and complex manufacturing process is expected to hamper the market growth. Technological advancements in the composite molding processes, specifically related to sandwich panels, are anticipated to provide numerous growth opportunities for the market players.
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The global non-honeycomb sandwich panel core materials market is segmented on the basis of material type, end user, and geography. By material type, the market is bifurcated into foam (low-density foam and high-density foam) and balsa. Based on end user, it is categorized into aerospace, wind energy, marine, transportation, construction, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
On the basis of end user, the global non-honeycomb sandwich panel core materials market is segmented into aerospace, marine, wind energy, construction, transportation, and others. The following figure represents the market potential of different end-use sectors. It is evident from the figure that the aerospace segment is the top investment pocket for the global non-honeycomb sandwich panel core materials market owing to the demand for lightweight and sustainable materials. Construction is projected to be the second most lucrative segment owing to high adoption of sandwich panels in building and infrastructure construction. Thus, this segment is anticipated to provide high stability along with significant return on investment for the stakeholders, owing to its high growth rate and significant revenue contribution.
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Asia-pacific Non-honeycomb Sandwich Panel Core Materials Market Analysis
Asia-Pacific accounted for the highest market share in 2016, owing to rise in demand for foam and balsa in wind energy, marine, and construction industries, followed by Europe and North America. Technological developments in production processes are expected to result in reduced cost of production, enhanced sustainability, and improved performance efficiency.
Key Benefits for Stakeholders
- This report provides an extensive analysis of the current trends and emerging estimations & dynamics in the non-honeycomb sandwich panel core materials market.
- In-depth analysis of the market size is conducted, and estimations for key segments between 2015 and 2023 are provided.
- Competitive intelligence (of leading manufacturers and distributors) facilitates to understand the competitive scenario across the geographies.
- Factors that drive and restrain the growth of the market are provided in the report.
- Industry analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
- Market share for all segments with respect to each geography is detailed, which assists in understanding the trends in the industry at the micro-level.
- Key market players are profiled and their strategies are analyzed thoroughly, which provides a competitive outlook of the industry trends.