Global Balsa Wood Market was valued at USD 195 million in 2019 which is expected to reach USD 297 million by 2027 at a CAGR 4.5%.
The report on the Balsa Wood Market, as found on Qualiket Research website, is in- depth analysis of the market dynamics which are impacting both present market as well as the upcoming. The market dynamics are anticipated to provide lasting impression on the holistic growth of the target market. This report has been analysed well by adept market reviewers through the immense knowledge and the expertise in the subject. The analysis would bring along factors & figures to track the market would take over the forecast period of 2020-2027.
Balsa Wood is natural, renewable resource. It has various special features such as weight-specific mechanical properties, low to medium density, and fast growth. Mainly Balsa Wood is divided into two types such as monolayer, and multilayer.
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Increase in demand for lightweight materials across the various industries like marine, automotive, transportation, construction, aerospace, and wind energy is the key driving factor which is expected to boost the global Balsa Wood market growth. Further, growth of aerospace in among various regions will have the positive impact on growth of global Balsa Wood market. Moreover, increase in mergers and acquisition activities among key players which is expected to propel the global Balsa Wood market growth. In addition to that, increase in technological developments and innovations may boost the global Balsa Wood market growth.
A major restraining factor which may hamper the global Balsa Wood market size is high cost of material. Also, delay renewal of production of tax credit will affect the global Balsa Wood market growth.
Market Key Players
Various key players are discussed in this report such as
- Nord Compensati Spa,
- BONDi (Shandong) Environmental Material Company Limited,
- CoreLite Inc,
- I-Core Composites, LLC,
- Evonik Industries AG,
- Carbon-Core Corp,
- Gurit Holding AG,
- Schweiter Technologies,
- BCOMP LTD, and
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- Wind Energy
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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