Balsa Wood Market Segmentation, Growth Factor, Industry Demand, Price Trends, COVID-19 Outbreak with Forecast 2023

Balsa Wood Market Segmentation, Growth Factor, Industry Demand, Price Trends, COVID-19 Outbreak with Forecast 2023

Global Balsa Wood Market is predicted to Register CAGR of 5.89% by 2023
Balsa Wood Market – by Type (Grain A, Grain B and Grain C), by Application (Aerospace & Defense, Renewable Energy, Marine, Road & Rail, Industrial Construction and other), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) – Forecast till 2023

According to Market Research Future (MRFR), Global Balsa Wood Market is expected to reach USD 217.23 million, with a CAGR of 5.89% from 2015 to 2023 (forecast period). The report offers a thorough analysis of the impact of the Covid-19 pandemic on the Global Balsa Wood Market. 

Balsa (Ochroma Pyramidale) is one of the fastest-growing wood species with a height of about 20m and a diameter of up to 75 cm in just 5-8 years. Most of the Balsa Wood used widely is harvested from plantations, particularly from Ecuador and Papua New Guinea. 

Market Dynamics:

Based on the appearance of grain in wood, it is classified as ‘Grain A,’ ‘Grain B’, and ‘Grain C’ types. ‘Grain B’ type of Balsa Wood is commonly used in the world and had the highest market share of 41.0% in 2016. This segment of Grain B is expected to dominate during the forecast period as it is used as all-purpose balsa items. Balsa Wood has gained commercial significance due to its exceptional lightweight and insulating properties. 

Get Free Sample @

Key Players:

Some of the Leading Participants Operating in the Global Balsa Wood Market are The PNG Balsa Company Ltd (Papua New Guinea), 3A Composites (Switzerland), Gurit (Spain), The Gill Corporation (U.S.), CoreLite Inc (U.S.) DIAB International AB (Sweden), and SINOKIKO BALSA TRADING CO., LTD (China) among others.


The Global Market for Balsa Wood has been Segmented Based on Type and Applications.

By Type, the Global Market for Balsa Wood has been segmented into ‘Grain A’, ‘Grain B’, ‘Grain C’ type. 

By Application, the Global Market for Balsa Wood has been segmented into aerospace & defense, renewable energy, marine, road & rail, industrial construction, among others. The aerospace & defense segment is expected to hit USD 77.76 million by 2023 due to the lightweight of the product.

Browse Complete Report @

Regional Analysis:

The Global Market for Balsa Wood has been segmented into five main regions: North America, Europe, Latin America, Asia Pacific, and Middle East & Africa.

The Asia Pacific area offers enormous growth potential for the Balsa Wood Market. It is expected to achieve USD 71.25 million with a CAGR of 5.97% by 2023 due to the presence of a large number of balsa wood processors, low labor costs, and an increasing application segment in the area. In this region, China held the largest market share and is expected to rise at CAGR of 6.16% during the forecast period. With increased military and aerospace funding and a substantial rise in the renewable energy sector in China and other Asia Pacific countries, the region is also expected to deliver lucrative opportunities in the Balsa Wood Industry. A similar pattern has been observed in different emerging geographies, such as Latin America and the Middle East and Africa.

The Balsa Wood Market is a well-developed industry in regions such as North America and Europe. North America accounted for Balsa Wood’s second-largest market share, followed by Europe. In North America, the US is the largest user of Balsa Wood composites, and the market for Balsa Wood in the US is expected to rise rapidly. Europe has a comparatively lower market share. Nevertheless, during the assessment period, the region is expected to rise at a substantial CAGR. Germany is the most significant market leader for Balsa Wood in Europe, followed by Poland.

COVID-19 Study in Detail:

COVID-19 Impact on Polyvinyl Alcohol Market @

COVID-19 Outbreak Impact on Renewable Chemicals Market @

NOTE: Our team of researchers is studying COVID-19 and its impact on various industry verticals and wherever required we will be considering COVID-19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India