Omaha, NE, April 26, 2023 (GLOBE NEWSWIRE) — Zion Market Research has published a new research report titled “Balsa Wood Market By Application (Defense & Aerospace, Industrial Construction, Renewable Energy, Rail-Road-Marine, And Others), By Type (Grain C, Grain B, And Grain A), By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2030” in its research database.
“According to the latest research study, the demand of global Balsa Wood Market size & share in terms of revenue was valued at USD 150 million in 2022 and it is expected to surpass around USD 280 million mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 6.01% during the forecast period 2023 to 2030.”
What is Balsa Wood? How big is the Balsa Wood Industry?
Report Overview:
The global balsa wood market size was worth around USD 150 Million in 2022 and is predicted to grow to around USD 280 Million by 2030 with a compound annual growth rate (CAGR) of roughly 6.01% between 2023 and 2030.
The Balsa tree also known as Ochroma pyramidale is found in tropical areas and is a fast-growing tree that forms a part of the mallow family or Malvceae. Wood is known in the commercial world for its lightweight structure along with being extremely light in color. The balsa wood can be found in areas stretching between Bolivia and Mexico and is extremely common in these regions. The wood is used extensively in projects involving insulation, packing, and model-building along with being used for manufacturing floating devices like rafts. Following the tendencies of tropical trees, balsa wood does not exhibit any annual growth rings and is pale bark in color.
The leaf structure of balsa wood leaves is heart-shaped at the bottom and pointed at the tip. Although the wood occurs naturally in certain parts of the world, driven by the high demand for the wood, the trees are commercially cultivated in densely packed areas with around 1000 trees being planted per hectare. The harvest period for balsa trees is between 6 to 10 years
Get a Free Sample PDF of this Research Report for more Insights with a Table of Content, Research Methodology, and Graphs – https://www.zionmarketresearch.com/sample/balsa-wood-market
(A free sample of this report is available upon request; please contact us for more information.)
Our Free Sample Report Consists of the Following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
- About 182+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on Request
- Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2023
- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Zion Market Research research methodology
(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)
Global Balsa Wood Market: Growth Factors
The global balsa wood market is projected to grow owing to its several applications of it in various end-user verticals that are registering high growth. It is the softest and lightest timber available for commercial applications. The increasing demand for wood in the aerospace industry is a major global industry propeller. In this sector, balsa wood plays a significant role in the production of lightweight aircraft since the wood has an excellent strength-to-weight ratio. Furthermore, the construction sector is another significant contributor to the global sales volume.
The wood is used in activities related to flooring, wall panels, and insulation. The growing demand in the wind sector, where balsa wood is used in the production of blades of wind turbines is the reason that has high demand during the growth period. In addition to this, the world is slowly but steadily shifting toward renewable energy with the mass installation of wind turbines across developed and developing nations. These applications are examples of the importance of balsa wood in the construction sector and as the world moves towards urbanization, the demand is expected to continue reaching new heights.
Despite being extremely popular in large-scale sectors, there are several growth restraints for the balsa wood industry. One such restriction is the limited availability of wood. Currently, almost 95% of the wood is exported from the countries of Peru, Colombia, and Ecuador. No other country has mass reserves of balsa wood. This increases the world’s dependency on certain countries for the transportation of balsa wood. Furthermore, changing market demand poses a critical threat to global market expansion. The fluctuations range in terms of raw material availability and prices making the product highly volatile.
The growing need for composite materials may provide growth opportunities whereas substitute availability could challenge the market expansion.
Directly Purchase a copy of the report with TOC @ https://www.zionmarketresearch.com/buynow/su/balsa-wood-market
Report Scope
| Report Attribute | Details |
| Market Size in 2022 | USD 150 million |
| Projected Market Size in 2030 | USD 280 million |
| CAGR Growth Rate | 6.01% CAGR |
| Base Year | 2022 |
| Forecast Years | 2023-2030 |
| Key Market Players | CoreLite Inc, Gurit, Guangzhou Sinokiko Balsa Co., Ltd, The Gill Corporation, 3A Composites, and DIAB International AB. |
| Key Segment | By Application, By Type, And By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Purchase Options | Request customized purchase options to meet your research needs. Explore purchase options |
Balsa Wood Market: Segmentation Analysis
The global balsa wood market is segmented based on application, type, and region
Based on application, the global market divisions are defense & aerospace, industrial construction, renewable energy, rail-road-marine, and others
- In 2022, the global market registered the highest growth in the defense & aerospace segment and it may generate a revenue of 0.07 billion by the end of 2023
- The primary reason that propels the demand for balsa wood in the segment is the lightweight nature of the wood making it an ideal choice to manufacture different parts of airplanes and other units used in the industry
- Since the structure is similar to the core of the honeycomb and has commercial availability across thickness, finish, and density, the wood is high in demand
Based on type, the balsa wood industry is segmented into grain C, grain B, and grain A
- In 2022, the highest sales were registered in the grain B segment since it has the widest end-user applications
- In the same year, the segment gained a market share of almost 41.1%
- Grain B, on multiple occasions, has been classified as an all-purpose wood which is a primary reason for the high demand for the grain structure
The global Balsa Wood market is segmented as follows:
By Application
- Defense & Aerospace
- Industrial Construction
- Renewable Energy
- Rail-Road-Marine
- Others
By Type
- Grain C
- Grain B
- Grain A
Browse the full “Balsa Wood Market By Application (Defense & Aerospace, Industrial Construction, Renewable Energy, Rail-Road-Marine, and Others), By Type (Grain C, Grain B, and Grain A), By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2030.”– Report at https://www.zionmarketresearch.com/report/balsa-wood-market
Competitive Landscape
Some of the main competitors dominating the global Balsa Wood market include –
- CoreLite Inc
- Gurit
- Guangzhou Sinokiko Balsa Co. Ltd
- The Gill Corporation
- 3A Composites
- DIAB International AB.
Key Insights from Primary Research:
- According to the analysis shared by our research forecaster, the Balsa Wood market is likely to expand at a CAGR of around 6.01% during the forecast period (2023-2030).
- In terms of revenue, the Balsa Wood market size was valued at around US$ 150 million in 2022 and is projected to reach US$ 280 million by 2030.
- Based on type segmentation, Grain B was predicted to show maximum market share in the year 2022.
- Based on application segmentation, defence & aerospace was the leading application in 2022.
- On the basis of region, North America was the leading revenue generator in 2022.
Have Any Query? Ask Our Experts: https://www.zionmarketresearch.com/inquiry/balsa-wood-market
Key questions answered in this report:
- What is the market size and growth rate forecast for Balsa Wood industry?
- What are the main driving factors propelling the Balsa Wood Market forward?
- What are the leading companies in the Balsa Wood Industry?
- What segments does the Balsa Wood Market cover?
- How can I receive a free copy of the Balsa Wood Market sample report and company profiles?
Key Offerings:
- Market Size & Forecast by Revenue | 2023−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Application, By Type, And By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Request for Customization on this Report as per your requirements – https://www.zionmarketresearch.com/custom/7126
(We tailor your report to meet your specific research requirements. Inquire with our sales team about customising your report.)
Regional Analysis:
Asia-Pacific is anticipated to lead the global balsa wood market owing to the high consumption of the product and rising import value. China, India, Malaysia, and Singapore are the largest regional consumers of wood. However, the dominant producer of balsa wood is Ecuador. It is the largest holder and supplier of the product. The government of Ecuador is responsible for regulating the trade aspects of the wood and the country’s leaders have managed to develop sustainable harvesting practices for a continuous and fair supply of the wood. Growth in Europe and the US is driven by the increasing demand in the aerospace segment along with rising investments in the wind energy sector. However, a lot of the regions are registering a lag in the required supply of the product owing to various geo-political factors.
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Recent Developments
- In February 2021, scholars from the University of Maryland claimed that they have developed a new method to improve the strength and durability of balsa wood. The method involves the treatment of the wood with a solution of sodium hydroxide which impacts the wood’s density
- In June 2021, Gurit registered an updated financial book for the year 2021 influenced by the reduced demand for balsa wood in China along with wind blades. The company has initiated relocation and restructuring measures to navigate through the financial changes
To know an additional revised 2023 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/balsa-wood-market
FREQUENTLY ASKED QUESTIONS
- What is balsa wood market?
- Which key factors will influence balsa wood market growth over 2022-2030?
- What will be the value of the balsa wood market during 2022-2030?
- What will be the CAGR value of the balsa wood market during 2022-2030?
- Which region will contribute notably towards the balsa wood market value?
- Which are the major players leveraging the balsa wood market growth?
Browse Other Related Research Reports from Zion Market Research:
Wood and laminate flooring Market – by Application (Residential, Non-Residential, Others)- Global Industry Perspective Comprehensive Analysis and Forecast 2020 – 2026: https://www.zionmarketresearch.com/report/wood-and-laminate-flooring-market
Fire Retardant Treated Wood Market: Global Industry Perspective, Comprehensive Analysis and Forecast, 2018-2025: https://www.zionmarketresearch.com/report/fire-retardant-treated-wood-market
Wood Coatings Market By Technology (Spraying, Conventional Spray, High-Volume Low-Pressure, Electrostatic, Airless Spraying, Non-Spray Coatings, Rollers, Brushes, Vacuums, Curtaining), By Resin Type (Acrylics, Polyurethane, Nitrocellulose, Melamine Formaldehyde, Others), By Application (Cabinets, Side And Deck, Furniture, Others), Global Industry Perspective, Comprehensive Analysis, And Forecast, 2020 – 2028: https://www.zionmarketresearch.com/report/wood-coatings-market
Wood Adhesives And Binders Market By Type (Urea Formaldehyde (UF), Melamine Urea Formaldehyde (MUF), Phenol Formaldehyde (PF), Isocyanates, Soy Based And Others), By Applications (Cabinets, Flooring & Plywood, Furniture & Subcomponents, Windows & Doors And Other)- Global Industry Perspective, Comprehensive Analysis And Forecast, 2020 – 2028: https://www.zionmarketresearch.com/report/wood-adhesives-binders-market
Wood Plastic Composites Market- By Product (Hospitals & Clinics, Polypropylene, And Polyvinyl Chloride), By Application (Building & Construction, Electrical, And Automotive), And By Region- Global Industry Perspective, Comprehensive Analysis, And Forecast, 2021 – 2028: https://www.zionmarketresearch.com/report/wood-plastic-composites-market
Engineered Wood Market By Application (Furniture, Construction, Flooring, And Others), By Type (Plywood, I-Beam, And Laminated Veneer Lumber (LVL)), By End-User (Industrial, Residential, And Commercial), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028: https://www.zionmarketresearch.com/report/engineered-wood-market
Wood-Based Panel Market by Type (Medium-Density Fibreboard, Particleboard, Oriented Strand Board, Plywood, and Others) and by Application (Furniture, Building Materials, Interior Decoration, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025: https://www.zionmarketresearch.com/report/wood-based-panel-market
Plywood Market By Product Type (Hardwood Plywood, Softwood Plywood, Decorative Plywood, Tropical Plywood, And Others), By Application (Construction, Furniture, Packaging, Transportation, Flooring, And Others), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022-2030: https://www.zionmarketresearch.com/report/plywood-market
Wood Vinegar Market By Pyrolysis Method (Slow Pyrolysis, Fast Pyrolysis, And Intermediate Pyrolysis.) By Application (Agriculture, Animal Feed, Food, Medicinal, Consumer Products, And Others (Including Industrial Sources For The Production Of Acetic Acid, Tar & Creosote Production, And Wastewater Treatment)): https://www.zionmarketresearch.com/report/wood-vinegar-market
Online Poker Market By Device Type (Mobile And Desktop), By End-User (Gambling Enthusiasts, Dabblers, And Social Exuberant) And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030: https://www.zionmarketresearch.com/report/online-poker-market
About Zion Market Research:
Zion Market Research is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Zion Market Research are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds.
Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.
Follow Us on LinkedIn: https://www.linkedin.com/company/zion-market-research/
Follow Us on Twitter: https://twitter.com/zion_research
Follow Us on Facebook: https://www.facebook.com/zionmarketresearch
Follow Us on Pinterest: https://www.pinterest.com/zionmarketresearch/
Follow Us on YouTube: https://youtu.be/Y0Yfi7N8zSs
Contact Us:
Rushikesh Dorge
USA: +1 347 690-0211
United Kingdom: +44 2032 894158
Japan: +81 50 5806 9039
India: +91 7768 006 007
Web: https://www.zionmarketresearch.com/
Blog: https://zmrblog.com/
Still, Looking for More Information? OR Want Data for Inclusion in Magazine, Case Study, or Media?
Email Directly Here with Detail Information: [email protected]