Core Material Kitting Market to reach US$ 550.1 million during the coming years (2019-2024)

Getting to the bare bones of the issues and factors which are sculpturing the market, Stratview Research brings out the best actionable market intelligence for the global Core Material Kitting Market.
 
The analysts have scrupulously studied the trend and cautiously forecasted the future market developments for 2019-2024.
The important questions the report answers are:

1. What will be the market growth rate in the near future?
2. What are the major developments in the market wrt regulations, acquisitions and innovations?
3. What are the growth drivers as well as the constraints?
4. What are the regional growth hotspots?
5. What are the segmental growth forecasts?

 
These questions and many more, big and small, are all discussed in the report in great detail.
 
Core Material Kitting Market: Highlights
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 an 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. 
 
The strategic Market dissection
The dissection of the market is done to enlighten the aspects which are of interest to firms across the value chain.
 
 
Dissection by                                                  Segments

• By End-User Type                  :           Wind Energy, Aerospace & Defense  and Others
• By Core Material Type           :           Foam Core Materials, Honeycomb Core Materials and Others
• By Process Type                     :           Machining and Manual
• By Region                               :           North America, Europe, Asia-Pacific, and RoW

 
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The Growth Prognosis & its Drivers
The next five years for the core material kitting market are going to be vigorous with sizeable growth opportunities for the market participants. It is estimated that the global 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.
 
Market Segments
The global core material kitting 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.
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.
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.
 
Players
The supply chain of this market comprises raw material suppliers, core material suppliers, kitting service providers, tier players, and end users. Some of the key players in the 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, and Argosy International Inc. Development of highly optimized core material kit, higher involvement of core material manufacturers in kitting services, and execution of mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market.
 
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