Balsa Wood Market Scope -
According to Market Research Future (MRFR), The CAGR for the Balsa Wood industry is projected to be 5.50% until 2030. The balsa wood market value is projected to be USD 217.23 million by 2030. This is up from USD 146.53 million in 2016. 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.
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Eminent Firms:
3A Composites (Switzerland)
Gurit (Spain)
DIAB International AB (Sweden)
The PNG Balsa Company Ltd (Papua New Guinea)
The Gill Corporation (U.S.)
CoreLite Inc (U.S.)
SINOKIKO BALSA TRADING CO., LTD (China)
and others.
Balsa Wood Market Analysis
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 market 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. Balsa wood is amid the most preferred core materials in the structural sandwich panel and in applications such as aircraft, boats, and wind turbine blades. As this wood has a low density, it is the lightest commercial timber that is available in the market. This wood has a spongy texture that makes it soft and light. It is used to make makeshift pens for calligraphy and in laminates with glass-reinforced plastic fiberglass to make ship decks, high-quality balsa surfboards, and building boats like pleasure crafts.
Various factors are adding to the global balsa wood market growth. These factors, as per the new MRFR report, include low wood density making it the lightest commercial timber, burgeoning demand for weight saving composite for increasing land transport efficiency, booming marine sector, growing defense activities, and expanding wind turbine industries. Additional factors adding market growth include its excellent properties for which it has wide applications in various industries such as wide operating temperature range, excellent fatigue resistance, good thermal and sound insulation, high impact strength, versatility, and strength.
Market Boosters and Challenges -
Pollution is caused during the dyeing process which can be harmful effects on human beings such as respiratory problems, skin sensitization and, in extreme cases, carcinogenicity. Moreover, reactive dyes are difficult to eliminate in biological wastewater treatment plants due to the presence of halogens and chromophores. Stringent regulations set by regulatory bodies also present a host of challenges to the market growth. However, the development of new generation, bio-based dyes, produced with safer intermediates which reduce human toxicity and introduction of environmentally friendly dyeing procedures are likely to present growth opportunities to the global Balsa Wood Market.
Balsa Wood Market are increasingly being used as dispersing agents in line with the surging uptake of paints as well as industrial coatings. Tridecyl alcohol ethoxylate will witness robust sales in the coming years, given its escalating application scope in the building & construction sector. Moreover, the impressive stabilizing property renders these products ideal for use as wetting agents, which can mean substantial market growth in subsequent years.
Industry News -
Lightwood composite manufacturers prefer using balsa wood as their core for manufacturing wooden toys and furniture. For instance, Green Dot Bioplastics is using balsa wood with other materials to produce composites for architectural purposes. Another instance includes 3A Composites AG which has acquired Forest Stewardship Council (FSC) certification for its products – AIREX, BANOVA, and BALTEX. These composites can be used in producing semi-finished goods.
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Segment Study of Balsa Wood Market-
The MRFR report provides an inclusive segmental analysis of the global balsa wood market based on application and type.
By type, the global balsa wood market is segmented into grain C, grain B, and grain A. Of these, the grain B segment will lead the market over the forecast period for its increasing use in all-purpose balsa items.
By application, the global balsa wood market is segmented into construction, industrial, road and rail, marine, renewable energy, aerospace and defense, and others. Of these, the aerospace and defense segment will dominate the market over the forecast period.
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Balsa Wood Market Market - Regional Analysis
The Balsa Wood Market industry can be regionally divided into Europe, North America, Asia Pacific (APAC), as well as the rest of the world (RoW).
The APAC market for Balsa Wood Market is the most profitable market and benefits from the rising per capita income of people, which drives them to purchase personal care and household products. As a result, the personal care industry has emerged as a major end-user in the APAC market for Balsa Wood Market. Increase in urban lifestyle, surging cost of living and the booming population have raised the use of surfactants in several industries, like agriculture, textiles, household, and personal care. Another favorable aspect has been the escalating demand for Balsa Wood Market in the pharmaceutical sector in Japan, India, China, and South Korea. The high availability of palm oil, which is an essential raw material used for developing fatty alcohols ethoxylates, also favors the regional market.
Europe has procured the second lead in the global market for Balsa Wood Market and is headed by Germany, France, United Kingdom, and Italy. Rampant demand for industrial cleaners combined with the strong presence of several renowned manufacturers of Balsa Wood Market in the region also adds to the market value.
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