Balsa Wood Market, Key Player, Analysis, Size, Type and Forecast Business Opportunities, Current Trends, Forecast 2030

Balsa Wood Market - By Type, By Application - Forecast till 2030

NEW YORK , NEW YORK 10013, UNITED STATES OF AMERICA, January 12, 2022 /EINPresswire.com/ -- Balsa Wood Market Introduction:

According to the reports by MRFR, The CAGR for the balsa wood industry is projected to be 5.50% until 2030. The balsa wood market value is projected to be USD 217.23 million by 2030. This is up from USD 146.53 million in 2016.

Balsa wood refers to the softest and lightest commercial hardwood timber. The wood is white to oatmeal in color and has a high silky luster. It has a density of 160 (120-220) kgm3 and has a stiffness nearly 50% that of Baltic pine (Pinus sylvestris).

The balsa wood market has registered a massive growth given its lightweight and insulating properties. Additionally, the growing adoption of balsa wood in several industries such as marine, road & rail, industrial, aerospace & defense, and renewable energy will boost the market. Growing preference for lightweight components in aircraft and the soaring preference for lightweight composite materials in emerging economies are anticipated to offer lucrative opportunities in the projected era. However, high material changes are likely to hamper the growth of the balsa wood market.

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Balsa Wood Market Key Players:

3A Composites (Switzerland)
Gurit (Spain)
DIAB International AB (Sweden)
The PNG Balsa Company Ltd (Papua New Guinea)
The Gill Corporation (U.S.)
CoreLite Inc (U.S.)
SINOKIKO BALSA TRADING CO., LTD (China
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Segmentation

The global balsa wood market is divided into numerous segments based on type, application, and region.

Based on type, the global market for balsa wood is divided into 'Grain C,' 'Grain B,' and 'Grain A.'

By application, the global balsa wood market is bifurcated into marine, road & rail, industrial, aerospace & defense, renewable energy, & more.

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Regional Insights

The global market for balsa wood is divided into Asia-Pacific, North America, South America, the Middle East & Africa, and Europe.

The Asia-Pacific region displays an enormous growth potential and has managed to lead the global balsa wood market. The market is projected to record a CAGR of 5.97%. It will reach USD 71.25 million by 2023 given the extensive application range in the region, the rising number of balsa wood vendors, lower labor costs, the drastic increase in the renewable energy segment, and the rising military & aerospace spending.

The North American region holds the second position in the global market for balsa wood. The region's growth is attributed to the rapid growth of the aerospace industry and rising applications of balsa wood in the sector.

Given the growing automobile sector, Europe is growing at a substantial growth rate and is likely to emerge as a lucrative market in the forecasted period.

Drivers

Balsa wood is lightweight. That is what makes it the material of choice for many manufacturers in most industries around the world. It can also insulate the materials that it’s incorporated into from shock and heat. This is why a growing number of companies in the renewable energy, defense, aerospace, industrial, rail, road, and marine industries are choosing to use this wood in their various products.

Opportunities

Many airplane manufacturers are choosing to use balsa wood because it makes them weigh less. This helps them use less fuel when taking off, take off faster, and land faster and safer. It also makes them stronger and more flexible. The same is true for the companies that make helicopters and hovercrafts.

Recent Developments

February 2021- SABIC has built resin manufacturing techniques using nanotechnology to effectively manufacture more uniform polyethylene terephthalate (PET) foam, causing higher performance characteristics in the end product. The latest product LNP™ COLORCOMP™ WQ117945 is a ground-breaking material that may expand the use of PET foams.

Nanotechnology in SABIC LNP™ COLORCOMP™ WQ117945aids to control nucleation and causes more uniform cells with an extremely narrow equal size range spread across the foam.

Polyethylene terephthalate (PET) is considered one of the most broadly used thermoplastic polymers worldwide and is used to produce foams, packaging, and fibers. It can also substitute balsa wood or polystyrene in structural sandwich materials.

June 2021- 3A Composites Core Materials, famous for the manufacturing of high-performance, sustainable core materials, announced the signing of a two-year technical cooperation agreement with the Achuar Nationality of Ecuador for the promotion of sustainable forestry practices and also accountable development, processing, and harvesting of balsa wood for native communities. The Achuar Nationality of Ecuador is an NGO protected by the Ecuadorian Constitution with the main target of reestablishing, protecting, and diffusing its language, culture, and traditions.

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Table Of Contents:

1 Report Prologue

2 Scope Of The Report

2.1 Market Definition 11

2.2 Scope Of The Study 11

2.3 Research Objectives 11

2.4 Assumptions 12

2.5 Limitations 12

2.6 Market Structure 12

3 Research Methodology

3.1 Research Process 13

3.2 Primary Research 14

3.3 Secondary Research 14

3.4 Market Size Estimation 15

3.5 Forecast Model 16

4 Market Dynamics

4.1 Introduction 17

4.2 Drivers 18

4.2.1 Booming Wind Industry 19

4.2.2 Growing Defence Activities And Aerospace Industry 21

4.2.3 Expanding Marine Sectors 23

4.2.4 Growing Demand Of Weight Saving Composite To Increase The Efficiency Of Land Transport 23

4.3 Restraint 24

4.3.1 Competition From Polymers, Paulownia Wood, Eco Foam Board, Carbon 24

4.4 Opportunity 24

4.4.1 Introduction Of Industrial Grain Balsa Panels 24

4.5 Challenges 25

4.5.1 Product Quality Control 25

4.5.2 Maintenance Of Functional Networks 25

5 Market Factor Analysis

5.1 Supply Chain Analysis 26

5.1.1 Balsa Wood Producers 26

5.1.2 Distribution Channel 27

5.1.3 End-User Industry 27

5.2 Porter’s Five Force Analysis 28

5.2.1 Threat Of New Entrants 28

5.2.2 Threat Of Rivalry 28

5.2.3 Threat Of Substitute 29

5.2.4 Bargaining Power Of Supplier 29

5.2.5 Bargaining Power Of Buyer 29

6 Global Balsa Wood Market, By Type

6.1 Introduction 30

6.2 ‘Grain A’ Type 32

6.3 ‘Grain B’ Type 33

6.4 ‘Grain C’ Type 34

7 Global Balsa Wood Market, By Application

7.1 Introduction 36

7.2 Aerospace & Defence 39

7.3 Renewable Energy 40

7.4 Marine 41

7.5 Road & Rail 42

7.6 Industrial & Construction 43

7.7 Others 44

8 Global Balsa Wood Market, By Region

8.1 Introduction 46

8.2 North America 48

8.2.1 U.S. 51

8.2.2 Canada 53

8.3 Europe 56

8.3.1 Germany 59

8.3.2 Poland 61

8.3.3 UK 63

8.3.4 France 65

8.3.5 Spain 67

8.3.6 Italy 69

8.3.7 Rest Of The Europe 71

8.4 Asia Pacific 74

8.4.1 China 77

8.4.2 Japan 79

8.4.3 India 81

8.4.4 Australia 83

8.4.5 Rest Of The Asia Pacific 85

8.5 Latin America 88

8.6 Middle East & Africa 90

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