The major trend being observed in the balsa core materials market is the shift in the preference of wind turbine manufacturers, from the use of conventional metal-based materials to balsa core materials for the manufacturing of turbine blades. Owing to the limited availability of conventional fuels, such as oil, gas, and coal, and the pollution caused by the consumption of these fuel sources, many countries are investing in cleaner energy sources, such as wind energy.
Balsa core is a widely used end-grain wood core that exhibits high strength as well as high stiffness-to-weight ratio. Some of the benefits offered by the material are excellent resistance to fire, high sheer strength, high temperature resistance, and enhanced thermal and acoustic insulation.
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On the basis of type, the balsa core materials market has been categorized into monolayer and multilayer materials. The category of multilayer materials held a significant share in the market during the historical period, and the demand for these materials is expected to witness high growth during the forecast period.
The key factor driving the growth of the balsa core materials market is the growing product demand from the expanding aerospace industry. Owing to the growing air services across different countries of the world, the sale of commercial aircraft is on the rise. This has accelerated the demand for balsa wood cores, which are used in the manufacturing of sandwich panels of aircraft to reduce the overall weight of the vehicle.
The balsa core materials market is characterized by both multinational corporations and domestic companies. Besides, there are start-ups (engaged in the production of advanced balsa core material technologies) backed by venture capitalist firms as well as government agencies. Some of the major players operating in the global balsa core materials industry are Diab International AB, Schweiter Technologies AG, Bcomp Ltd., Carbon-Core Corporation, Gurit Holding, Evonik Industries AG, I-Core Composites LLC, CoreLite Inc., Bondi (Shandong) Environmental Material Co. Ltd., and Nord Compensati Spa.
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The study provides the historical as well the forecast market size data for various countries, including the U.S., Canada, France, Germany, the U.K., Italy, Spain, Japan, China, India, Brazil, Saudi Arabia, and South Africa.
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