Global balsa wood market was valued at USD 146.53 million in 2016 and is expected to grow at 5.89% CAGR to reach USD 217.26 million by the end of 2023
Market Highlights:
The balsa wood market is gaining traction across the globe, owing to the low density of wood, making balsa the lightest commercial timber available in the market. By type, ‘Grain B’ segment has accounted for a larger market share due to its combine property of ‘Grain A’ and ‘Grain C’ type of wood. ‘Grain C’ type on balsa market is estimated to grow at CAGR of 5.88%, during the forecast period as it is regarded as the most aesthetically pleasing.
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Major Players in the global balsa wood market includes:
3A Composites
DIAB International AB
The PNG Balsa Company
CoreLite Inc
SINOKIKO BALSA TRADING
Gurit
Balsa Wood Segment Analysis:
The global balsa wood market is segmented on the basis of type, application and region. On the basis of type, the market is segmented into ‘Grain A’, ‘Grain B’, and ‘Grain C’ balsa wood. Based on the application, the global balsa wood market is divided into aerospace & defense, renewable energy, marine, rail & road, industrial & construction among others.
Considering the increasing security concerns of the countries, the military & aerospace funding across the globe is also increasing and’ as a result, this segment is estimated to account for the largest market share which is slated to reach USD 77.76 million till 2023. Balsa wood laminates provide effective ballistic protection in military & defense operations at a much lower weight than metallic armor materials. Additionally, balsa wood composite armor is used in the production of military vehicles, land-based shelters, ships and aircraft are some of the factors that drive the market for balsa wood in military & aerospace segment.
Key Findings:
The global balsa wood market is projected to reach USD 217.26 million by 2023 with 5.98% CAGR growth rate during the review period of 2017-2023. The ‘Grain B’ balsa wood by type has acquired nearly 41% share of the market and is growing at highest CAGR among other grain types of balsa wood. Grain ‘C’ is also a major segment, which is swiftly acquiring significant share of the market by growing at CAGR of 5.88% during the forecast period.
Aerospace & defense segment as an application has acquired as the largest share of the market. The segment is growing at highest CAGR among other application of balsa wood, to reach USD 77.76 million. Asia Pacific is the fastest growing region in the global balsa wood market, which is estimated to grow at CAGR of 5.97% to reach USD 71.25 by the end of review period. China acquired the largest market share and slated to grow at CAGR of 6.16% during the forecast period
Intended Audience
- Balsa wood producers
- Balsa wood composite manufacturers
- Wind blades manufacturers
- Potential investors
- Balsa wood suppliers
- Nationalized laboratory
The Global Balsa Wood Market is projected to reach USD 217.26 million by 2023 with 5.98% CAGR growth rate during the review period of 2017-2023. The ‘Grain B’ Balsa Wood by type has acquired nearly 41% share of the market and is growing at highest CAGR among other grain types of balsa wood. Grain ‘C’ is also a major segment, which is swiftly acquiring significant share of the market by growing at CAGR of 5.88% during the forecast period. Aerospace & defense segment as an application has acquired as the largest share of the market. The segment is growing at highest CAGR among other application of Balsa Wood, to reach USD 77.76 million. Asia Pacific is the fastest growing region in the Global Balsa Wood Market, which is estimated to grow at CAGR of 5.97% to reach USD 71.25 by the end of review period. China acquired the largest market share and slated to grow at CAGR of 6.16% during the forecast period.
Geographic Analysis :-
The report covers brief analysis of geographical region such as:
•North America
U.S.
Canada
• Europe
Germany
France
Italy
Spain
U.K.
Poland
Rest of Europe
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• APAC
China
India
Japan
Australia
Rest of Asia Pacific
•Latin America
•Middle East & Africa
TABLE OF CONTENTS:
TABLE 1 GLOBAL BALSA WOOD MARKET BY TYPE 2015-2023 (USD MILLION)
TABLE 2 GLOBAL BALSA WOOD MARKET BY TYPE 2015-2023 (TOUSAND TONS)
TABLE 3 GLOBAL BALSA WOOD MARKET BY TYPE , ‘GRAIN A’ 2015-2023 (THOUSAND TONS)
TABLE 4 GLOBAL BALSA WOOD MARKET BY TYPE, ‘GRAIN B’ 2015-2023 (USD MILLION)
TABLE 5 GLOBAL BALSA WOOD MARKET BY TYPE, ‘GRAIN B’ 2015-2023 (THOUSAND TONS)
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