Balsa Wood Market Global Industry is all set to witness Huge Growth at a CAGR of 5.89 % with USD 217.23 million during 2018-2023

Global Balsa Wood 2018 Market Size, Share and Growth Analysis Research Report 2023
The Global Balsa Wood Market Report 2018 is a professional and in-depth study on the current state of the Balsa Wood industry. The report provides a basic overview of the market status and forecast of global and major regions, with introduction of vendors, regions, product types and end industries; The Balsa Wood industry analysis is provided for the international markets including product types and end industries in global and major regions.

Market Highlights:

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

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.

Balsa (Ochroma Pyramidale) is one of the fastest growing wood species, reaching about 20 m in height and up to 75 cm in diameter in just 5-8 years. Most of the Balsa Wood used commercially is harvested from plantations, particularly from Ecuador and Papua New Guinea. Because of its fast growth, the wood density is very low, making Balsa the lightest commercial timber available in the market. Based on the appearance of grain in wood, they are categorized as ‘Grain A’, ‘Grain B’ and ‘Grain C’ types. ‘Grain B’ type of balsa wood is majorly used in the world and accounts for the largest market share of 41.0% as of 2016. 

Major Players in the global balsa wood market includes:

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

 

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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.

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

LIST OF TABLES:

TABLE 1 GLOBAL BALSA WOOD MARKET BY TYPE 2015-2023 (USD MILLION) 31 

TABLE 2 GLOBAL BALSA WOOD MARKET BY TYPE 2015-2023 (TOUSAND TONS) 32 

TABLE 3 GLOBAL BALSA WOOD MARKET BY TYPE , ‘GRAIN A’ 2015-2023 (THOUSAND TONS) 33 

TABLE 4 GLOBAL BALSA WOOD MARKET BY TYPE, ‘GRAIN B’ 2015-2023 (USD MILLION) 33 

TABLE 5 GLOBAL BALSA WOOD MARKET BY TYPE, ‘GRAIN B’ 2015-2023 (THOUSAND TONS) 34

TABLE 6 GLOBAL BALSA WOOD MARKET BY TYPE, ‘GRAIN C’ 2015-2023 (USD MILLION) 34 

Continued. . . .

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LIST OF FIGURES:

FIGURE 1 MRFR RESEARCH PROCESS 

FIGURE 2 TOP DOWN & BOTOM UP APPROACH 

FIGURE 3 MARKET FORECAST MODEL 

FIGURE 4 DRIVERS, RESTRAINTS AND OPPORTUNITIES AND TRENDS OF BALSA WOOD MARKET

 

Continued. . . .

 

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

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