Apr 06, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Core Material Kitting Market.

It was estimated prior to this unanticipated outbreak that the Core Material Kitting Market would reach an estimated value of US$ 550.1 million in 2024. Core material kitting is an essential part of composite sandwich construction. The kitting of core materials can be performed by part fabricators in-house as well as outsourced to independent kitting solution providers or core material suppliers that are also offering kitting services. Several factors bolstering the demand for core material kitting are organic growth of major composite-driven markets coupled with increased penetration of composite materials, increasing demand for lightweight core materials, and excellent benefits of core materials kitting.

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The key market trends shaping the competitive landscapes are the execution of mergers and acquisitions and higher involvement of core material suppliers in kitting services. For instance; Gurit Holding AG, one of the largest core material providers, acquired JSB Group A/S for an equity value of DKK 520 million in October 2018. JSB Group was the leading core material kitting service provider for the wind energy segment. The acquisition consequentially aided Gurit’s capability as well as its positioning in the kitting market. 

Composites have an excellent track record in the aerospace, wind, marine, and transportation industries as they offer numerous benefits over the rivals including high strength-to-weight ratio, excellent corrosion resistance, excellent fatigue strength, and excellent durability at a lesser weight. Composite structures can be fabricated through a wide array of processes/technologies. One of the most widely used processes for part fabrication is sandwich construction. In sandwich construction, a structure is made of three layers: low-density core inserted between two relatively thin skin layers or laminates. It is used in applications which require extremely high mechanical properties along with low weight. The purpose of the sandwich structure is to achieve a stiff and light component simultaneously.

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Segments’ Analysis

Based on the End-use Industry Type, the market is segmented based on the end-use industry type as wind energy, aerospace & defense, marine, transportation, construction, and others. Wind energy is expected to remain the largest market for core material kitting during the forecast period. Rising demand for an alternative source of energy has led to an increased focus of various governments and non-government institutions towards the wind energy sector. Increasing wind turbine installation coupled with longer rotor blades has resulted in a greater penetration of sandwich panels constructed with foam and balsa core materials. This factor is acting as the prime driver for the core material kitting market in the wind energy.

Based on the core material type, the market is segmented as foam, honeycomb, and balsa. Foam core is further bifurcated into PVC, PET, and others. Similarly, honeycomb core is bifurcated into nomex honeycomb, aluminum honeycomb, and others. Foam core is expected to remain the largest segment of the market during the forecast period. Foam core is widely used in wind energy and marine composite parts, owing to its low specific weight and high mechanical rigidity and stiffness. Honeycomb core is expected to witness the highest growth during the same period, driven by its extensive usage in the aerospace & defense industry.

In terms of regions, North America is expected to remain the largest market for core material kitting during the forecast period. The USA is the growth engine of the region’s market with the presence of major OEMs, tier players, core material suppliers, and kitting service providers. Some of the major markets including marine, aerospace & defense, and construction are dominated by the region.

Asia-Pacific is expected to experience the highest growth in the market during the forecast period. The highest growth of Asia-Pacific is mainly attributable to the consequential growth in wind turbine installation coupled with regional expansion of major core material suppliers in the region; growing penetration of composites in the transportation industry; opening of assembly plants of Boeing and Airbus for B737, A320, and A330 aircraft programs; upcoming indigenous aircraft program such as C919 and CR929; and expanding construction sector.

Key Players:

Key players operating in the global Core Material Kitting market are-

  • JSB Group A/S (now a part of Gurit Holding)
  • Hexcel Corporation
  • DIAB Group
  • Gurit Holding AG
  • 3A Composites GmbH
  • Argosy International Inc.

Features of the Report

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

The Core Material Kitting analysis report discusses the following heads in great detail:

  • Market structure: Overview, industry life cycle analysis, supply chain analysis
  • COVID-19 Impact Assessment
  • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
  • Market trend and forecast analysis
  • Market segment trend and forecast
  • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
  • Attractive market segments and associated growth opportunities
  • Emerging trends
  • Strategic growth opportunities for the existing and new players
  • Key success factors

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