The global market for core materials is projected to reach US$1.72 bln by 2021, registering a CAGR of 8.6% between 2016 and 2021, as per MarketsandMarkets. High use in wind energy industry expected to drive the core materials market for composites. The blades for large wind turbines have been made from various low-weight composites. According to the GWEC (Global Wind Energy Council), by 2035, the renewable energy sector is expected to generate more than 25% of the world's electricity, and a quarter of this is expected to be derived from wind. With the increasing demand for wind energy, the demand for core materials is also rising for manufacturing of the wind energy blades as these materials are economical and have low-density and high performance.
Foam is the most common core material used in composites due to its ready availability and low cost. Foam core materials are used in sandwich construction of wind mill blades, and they impart strength and stiffness while keeping the composite structure lightweight. PVC, PET, and SAN foam are the most popular core materials used in wind energy turbines. These foams are used in various applications such as wind energy blades, nacelles, and so on, depending on their resin compatibility, usage temperature, manufacturing aspects, and costs. The demand for lightweight and fuel-efficient vehicles in the transportation industry is also driving the demand for foam. Apart from these end-use industries, they are also employed in marine and other industries.
The Asia-Pacific region is expected to be the largest for Core Materials Market due to the increased demand from wind energy and aerospace industry. In addition, easy availability of raw materials, low labor costs, growing manufacturing industries, new product developments, capacity expansions, and new plant establishments by various leading players are few factors leading to the growth of the core materials market for composites in this region.
12-May-16 
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