The core materials market for composites is projected to reach US$1.92 Billion by 2022, at a CAGR of 8.77%, according to a new report from Research and Markets.
Foam is expected to be the fastest-growing type segment of the core materials market for composites and rapid growth in the wind energy industry, wind turbine blade manufacturing, and emergence of China and other Asian countries as major wind energy producers are factors fueling the consumption of the material, the report suggests.
Major end-use industries in the core materials market for composites are aerospace, wind energy, marine, transportation, construction, and others. The wind energy segment is projected to grow at the highest rate between 2017 and 2022 due to the use of composites in designing of blades for large wind turbines. North America led the core materials market for composites, in terms of value, in 2016, owing to high demand for honeycomb core materials from aerospace and wind energy end-use industries, says Research and Markets.
This story is reprinted from material from Research and Markets, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.