Balsa Core Materials Market – Increasing Popularity of Green Bonds To Promote Growth | Technavio

LONDON–(BUSINESS WIRE)–#Research–The global
balsa core materials market is expected to grow at a CAGR of
more than 5% during the period 2018-2022, according to a new market
research study by Technavio.

The report categorizes the global balsa
core materials market by end-user that includes wind energy and
marine. The report also determines the geographic breakdown of the
market in terms of detailed analysis and impact, which includes key
geographies such as APAC, North America, Europe, and ROW.

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Market driver: growth and development of the shipping industry

Maritime transport is an important contribution to the world’s economy
as more than 90% of the trade is carried out by sea. This is because it
is a cost-effective way to transport the goods and raw materials around
the world. In 2015, the World Trade Organization (WTO) estimated that
the seaborne freight accounted for more than 30% of the world transport.
In 2015, the estimated world seaborne trade volume exceeded 10 billion
tons. Maritime transport is the backbone of globalization because it
brings together the consumers and intermediates and capital goods
industries. It also helps in the industrial development by supporting
increased productivity and promoting trade integration.

According to a senior analyst at Technavio for specialty
chemicals research, “In 2015, dry cargo shipments accounted
for a share of more than 70% of the total seaborne trade volumes,
whereas the remaining share was contributed by tanker trades such as
crude oil, petroleum products, and gas. In 2016, the world commercial
fleet consisted of more than 90,000 vessels with a combined capacity of
over 1.8 billion dead-weight tons. The fastest growth was recorded for
gas carriers followed by container ships.”

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Market trend: increasing popularity of green bonds

Green bonds refer to the bonds with proceeds reserved for green
investments and are issued as green by the issuing authorities. Banks
too have shown their interest in green bonds. For instance, the Korean
development bank issued a green corporate bond for renewable energy
projects worth USD 300 million in July 2017. Furthermore, the National
Bank of Australia issued a green bond in connection to a range of
seventeen wind and solar farms. These green bonds promote the growth of
the global wind energy market with increased investments in the
installation of wind turbines. The green label is of paramount
importance because it is difficult for the wind bonds sector to turn out
as a stand-alone sector.

Market challenge: slower adoption of emerging applications

Despite the increase in the awareness of energy savings across the
globe, many people remain ignorant about the benefits of balsa core
materials in terms of their durability and high strength. Currently,
balsa core materials are used extensively in the wind energy and marine
industries. The commercial use of balsa
core materials in other applications is still limited to a small
number of industries. Moreover, these materials can be used in the
aerospace and defense and transport industries.

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Some of the companies in the global balsa core materials market are:

• Airex
• Carbon-Core
• CoreLite
• Diab
• Gurit
• I-Core Composites

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