Balsa Wood Market
Balsa Wood Market Analysis by Grain A, Grain B, Grain C Type for Aerospace & Defense, Renewable Energy, Marine, Road & Rail, Industrial Construction, and Others from 2023 to 2033
Analysis of Balsa Wood Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Balsa Wood Market Growth Outlook (2023 to 2033)
The global balsa wood market is valued at US$ 155.9 million in 2023 and is forecasted to reach a market size of US$ 218 million by 2033, expanding at a steady CAGR of 3.3% from 2023 to 2033.
Balsa wood is a very light, soft, and affordable variety of wood. It possesses several distinctive qualities, including mechanical characteristics that are weight-specific and low to medium density. Balsa wood mostly comes in two varieties: monolayer and multilayer. The ability of each balsa wood tree to reach a level of 25 to 30 meters is particularly advantageous to its growers since it provides a high-performance value per tree.
Also, the ideal period to cut the plant is only between three and four years following planting, allowing for quick, high-profit gains.
Balsa wood's lightweight qualities, which make it an outstanding material for use in different applications across various end-user sectors, is a major driving factor for the sales of balsa wood. In addition, growing consumer demand for environment-friendly products is anticipated over the projection period, leading to significant governmental investments in green infrastructure.
The primary factor driving the development of the market is the rise in demand for goods from the aerospace industry. As air travel between different countries throughout the world expands, so will the sales of commercial planes. As a result, there is a greater need for balsa wood products that are used to create slabs for airplanes to reduce their overall weight.
Increasing demand for balsa wood products from a variety of industries, including aerospace and defense, maritime, road and rail construction, industrial building, and other uses, can be attributed to market expansion.
Soft balsa wood is one of the most frequently utilized core materials in a sandwich structure. It is mostly used in items such as turbine blades, boats, and airplanes. Most balsa wood used in commerce comes from farms, particularly those in Papua New Guinea and Ecuador. Due to the fast growth of the balsa wood processing plants and the incredibly low wood density, balsa is now the lightest industrial wood available.
Rising production of wind energy as a result of the world's commitment to renewable energy sources has elevated the demand for balsa wood, a lightweight and durable material that is perfect for wind turbine propellers, especially smaller ones. China is a leading consumer while Ecuador is the main exporter. The country has seen the widespread felling of this tropical tree, which has sparked questions about how to maintain its sustainability.
Overall, global demand for balsawood has expanded along with the commitment to increasing wind energy and the ever-rising windmill demand.
| Report Attributes | Details |
|---|---|
| Balsa Wood Market Size (2022) | US$ 150.9 Million |
| Estimated Market Value (2023) | US$ 155.9 Million |
| Projected Market Value (2033) | US$ 218 Million |
| Global Market Growth Rate (2023 to 2033) | 3.3% CAGR |
| China Market Growth Rate (2023 to 2023) | 6.16% CAGR |
| Key Companies Profiled | 3A Composites; DIAB International AB; The Gill Corporation; Gurit; The PNG Balsa Company Ltd.; SINOKIKO BALSA TRADING CO. LTD.; CoreLite Inc. |
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What is Primarily Driving Balsa Wood Demand?
“Increasing Demand for Composite Materials in Various Industries”
With improvements in composite material characteristics across the board and advances in material technology, the use of balsa for composite materials is expanding. Balsa wood for composite materials is currently widely employed in a variety of industry sectors, including wind and energy, construction, transportation, automotive, and the building industry.
Several prominent players in the structural composites market for balsa wood are consistently devoting funds to enhancing the caliber of their goods and investigating prospective business prospects in the industrial sector.
“Key Players Targeting Potential in Aviation Sector”
Many manufacturers of airplanes utilize balsa wood because it supports lightening the weight of the craft. This makes it possible for them to take off more quickly, take off with less fuel, and land more quickly and safely. They become more resilient and flexible as a result.
The same is true for the businesses that produce helicopters and hovercraft. Through the projected period, these variables are developing new potential for the growth of the market. Balsa wood is additionally utilized in the aviation sector due to its light weight, flexibility, and trembling gripping properties.
What is Limiting Balsa Wood Market Expansion to Some Extent?
“High Cost of Raw Materials and Flammable Property”
Market expansion is being constrained by the high cost of the material. The growth of the worldwide market may be hampered by the tax credit's delayed renewal of production. The challenge facing the balsa wood business is to continue refining the raw balsa wood material so that it can be used by balsa wood manufacturers while maintaining a low price.
Balsa wood rapidly catches fire and is highly flammable. Balsa wood cannot be used outside much since it is not weatherproof. These are the problems related to balsa wood that could restrict market expansion.
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Country-wise Insights
Why Should Producers of Balsa Wood Prioritize New Projects in China?
“Use of Core Material for Production of Turbine Blades in Wind Power Projects”
A majority of balsa wood used in the Asia Pacific is commercially reaped from farms. Owing to its rapid growth and low wood density, balsa is the lightest commercially available timber. Balsa wood is utilized for numerous engineering uses such as aerospace & defense, renewable energy, maritime, rail & road transport systems.
Extensive use of balsa core materials in the manufacture of blades for wind turbines in countries such as China, India, and Japan, where massive wind power projects are being created. Market share for the Asia Pacific region is expected to reach 68% in 2023.
The booming wind energy and military sector, aerospace and marine industries, as well as rising demand for lightweight composites to raise the effectiveness of land transportation, are some key factors propelling the expansion of the balsa wood market in the Asia Pacific region. In addition to these advantages over other materials, balsa wood also has strength, adaptability, remarkable impact strength, exceptional thermal and acoustic absorption, better fatigue tolerance, and a broad temperature operating range.
What Makes the United States and Canada Desirable Markets for Manufacturers of Balsa Wood?
“High Government Investments in Green Infrastructure”
The market in North America is experiencing decent growth in the consumption of balsa wood. Due to a large part in government regulations that are becoming more stringent and industry-led initiatives. This is most noticeable in Canada, but balsa wood and the companies that employ it are also respectably growing in the United States.
- Through the projected period, the market in North America is anticipated to experience growth at a CAGR of 3.6%.
The aerospace and defense industries are also flourishing in the United States. Strong and maneuverable aircraft are more in demand as these markets modernize and significantly increase the demand for balsa wood.
The recent upsurge in the industry has been fueled by consumers' increasing interest in environmentally friendly products as a result of significant government investments in green infrastructure across countries such as Canada, and the United States.
Category-wise Insights
Which Type of Balsa Wood is Exhibiting Higher Demand?
“Grain B Balsa Wood to Remain Highly Preferred”
Grain B balsa wood dominates with 45% market share in 2023. Due to its widespread use as an all-purpose balsa wood plank, it will continue to dominate the global market during the projected period as well. This is because multilayer materials can absorb more energy than monolayer materials, making them appropriate for use as core materials in the production of wind turbine blades and airplanes.
Which Sector Accounts for High Demand for Balsa Wood?
“High Demand from Aerospace & Defense Sector”
Due to the fact that balsa woods’ light weight is used in this industry for a variety of applications, the aerospace & defense segment is anticipated to develop at a steady CAGR of 4.3% over the course of the forecast period.
Since balsa wood is lighter, flexible, and vibration-gripping, it is used in the aircraft industry. Balsa is commonly used in the aviation industry as a long approximately L-shaped rods braced with struts that run down a series of partition walls on aircraft fuselage and wings, wings, wing columns, and spars. Balsa has superior properties in terms of durability per unit weight, which is why it should be used instead of other woods similar to pine.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Competitive Landscape
Because most of the market's major corporations have broad global networks that allow them to access their sizable client bases, they have a considerable impact. Key players in the balsa wood market, are concentrating on strategic efforts including acquisitions, the launch of new collections, and partnerships to increase revenue and solidify their positions in the global market.
International firms and local businesses jointly dominate the balsa wood market. Additionally, there are startups supported by both government organizations and venture capital firms. The Gill Corporation, Gurit, The PNG Balsa Company Ltd., SINOKIKO BALSA TRADING CO. LTD., and CoreLite Inc. are a few of the main companies in the balsa wood market.
- Tornado Updraft provides balsa wood model airplanes with an electric RC motor in September 2022. The remote-control aircraft, which is available as a build-it-yourself kit, is the result of a partnership between the American businesses Nighthawk Gliders and PowerUp Gadgets. The PowerUp 4.0 fully electric unit was provided by the latter, while the former designed the balsa wood body.
Key Segments of Balsa Wood Industry Research
-
By Type :
- Garin A
- Grain B
- Grain C
-
By Application :
- Aerospace & Defense
- Renewable Energy
- Marine
- Rail & Road
- Industrial Construction
-
By Region :
- North America
- Latin America
- Europe
- Asia Pacific & China
- Middle East & Africa
Table of Content
- 1. Executive Summary
- 2. Market Overview
- 3. Key Market Trends
- 4. Key Success Factors
- 5. Market Background
- 6. Global Market Volume (Units) Analysis 2018 to 2022 and Forecast, 2023 to 2033
- 7. Global Market - Pricing Analysis
- 8. Global Market Value Analysis 2018 to 2022 and Forecast, 2023 to 2033
- 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Type
- 9.1. Grain A
- 9.2. Grain B
- 9.3. Grain C
- 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Application
- 10.1. Aerospace & Defense
- 10.2. Renewable Energy
- 10.3. Marine
- 10.4. Rail & Road
- 10.5. Industrial Construction
- 11. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Region
- 11.1. North America
- 11.2. Latin America
- 11.3. Europe
- 11.4. East Asia
- 11.5. South Asia
- 11.6. Oceania
- 11.7. Middle East and Africa (MEA)
- 12. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033
- 13. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033
- 14. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033
- 15. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033
- 16. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033
- 17. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033
- 18. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033
- 19. Key and Emerging Countries Market Analysis 2018 to 2022 and Forecast 2023 to 2033
- 20. Market Structure Analysis
- 21. Competition Analysis
- 21.1. 3A Composites
- 21.2. DIAB International AB
- 21.3. The Gill Corporation
- 21.4. Gurit
- 21.5. The PNG Balsa Company Ltd.
- 21.6. SINOKIKO BALSA TRADING CO. LTD.
- 21.7. CoreLite Inc.
- 22. Assumptions and Acronyms Used
- 23. Research Methodology
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List Of Table
Table 01: Global Market Volume (‘000 Units) Analysis and Opportunity Assessment 2018 to 2033, By Type
Table 02: Global Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By Type
Table 03: Global Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By Application
Table 04: Global Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By Region
Table 05: North America Market Value (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
Table 06: North America Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By Type
Table 07: North America Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By Application
Table 08: Latin America Market Value (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
Table 09: Latin America Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By Type
Table 10: Latin America Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By Application
Table 11: Europe Market Value (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
Table 12: Europe Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By Type
Table 13: Europe Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By Application
Table 14: South Asia Market Value (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
Table 15: South Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By Type
Table 16: South Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By Application
Table 17: East Asia Market Value (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
Table 18: East Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By Type
Table 19: East Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By Application
Table 20: Oceania Market Value (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
Table 21: Oceania Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By Type
Table 22: Oceania Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By Application
Table 23: Middle East and Africa Market Value (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
Table 24: Middle East and Africa Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By Type
Table 25: Middle East and Africa Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By Application
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List Of Figures
Figure 01: Global Market Volume (in 000' Units) Analysis, 2018 to 2022
Figure 02: Global Market Volume Forecast (in 000' Units), 2023 to 2033
Figure 03: Pricing Analysis (US$) Per Type, By Region, 2022
Figure 04: Pricing Analysis (US$) Per Type, By Region, 2022
Figure 05: Global Market Value Analysis (US$ Mn), 2018 to 2022
Figure 06: Global Market Value Forecast (US$ Mn), 2023 to 2033
Figure 07: Global Market Absolute $ Opportunity, 2023 to 2033
Figure 08: Global Market Share Analysis (%), By Type, 2023 to 2033
Figure 09: Global Market Y-o-Y Analysis (%), By Type, 2023 to 2033
Figure 10: Global Market Attractiveness Analysis by Type, 2023 to 2033
Figure 11: Global Market Share Analysis (%), By Application, 2023 to 2033
Figure 12: Global Market Y-o-Y Analysis (%), By Application, 2023 to 2033
Figure 13: Global Market Attractiveness Analysis by Application, 2023 to 2033
Figure 14: Global Market Share Analysis (%), By Region, 2023 to 2033
Figure 15: Global Market Y-o-Y Analysis (%), By Region, 2023 to 2033
Figure 16: Global Market Attractiveness Analysis by Region, 2023 to 2033
Figure 17: North America Market Value Share, By Type, 2023 (E)
Figure 18: North America Market Value Share, By Application, 2023 (E)
Figure 19: North America Market Value Share, By Country, 2023 (E)
Figure 20: North America Market Value Analysis (US$ Mn), 2018 to 2022
Figure 21: North America Market Value Forecast (US$ Mn), 2023 to 2033
Figure 22: North America Market Attractiveness Analysis by Type, 2023 to 2033
Figure 23: North America Market Attractiveness Analysis by Application, 2023 to 2033
Figure 24: North America Market Attractiveness Analysis by Country, 2023 to 2033
Figure 25: Latin America Market Value Share, By Type, 2023 (E)
Figure 26: Latin America Market Value Share, By Application, 2023 (E)
Figure 27: Latin America Market Value Share, By Country, 2023 (E)
Figure 28: Latin America Market Value Analysis (US$ Mn), 2018 to 2022
Figure 29: Latin America Market Value Forecast (US$ Mn), 2023 to 2033
Figure 30: Latin America Market Attractiveness Analysis by Type, 2023 to 2033
Figure 31: Latin America Market Attractiveness Analysis by Application, 2023 to 2033
Figure 32: Latin America Market Attractiveness Analysis by Country, 2023 to 2033
Figure 33: Europe Market Value Share, By Type, 2023 (E)
Figure 34: Europe Market Value Share, By Application, 2023 (E)
Figure 35: Europe Market Value Share, By Country, 2023 (E)
Figure 36: Europe Market Value Analysis (US$ Mn), 2018 to 2022
Figure 37: Europe Market Value Forecast (US$ Mn), 2023 to 2033
Figure 38: Europe Market Attractiveness Analysis by Type, 2023 to 2033
Figure 39: Europe Market Attractiveness Analysis by Application, 2023 to 2033
Figure 40: Europe Market Attractiveness Analysis by Country, 2023 to 2033
Figure 41: South Asia Market Value Share, By Type, 2023 (E)
Figure 42: South Asia Market Value Share, By Application, 2023 (E)
Figure 43: South Asia Market Value Share, By Country, 2023 (E)
Figure 44: South Asia Market Value Analysis (US$ Mn), 2018 to 2022
Figure 45: South Asia Market Value Forecast (US$ Mn), 2023 to 2033
Figure 46: South Asia Market Attractiveness Analysis by Type, 2023 to 2033
Figure 47: South Asia Market Attractiveness Analysis by Application, 2023 to 2033
Figure 48: South Asia Market Attractiveness Analysis by Country, 2023 to 2033
Figure 49: East Asia Market Value Share, By Type, 2023 (E)
Figure 50: East Asia Market Value Share, By Application, 2023 (E)
Figure 51: East Asia Market Value Share, By Country, 2023 (E)
Figure 52: East Asia Market Value Analysis (US$ Mn), 2018 to 2022
Figure 53: East Asia Market Value Forecast (US$ Mn), 2023 to 2033
Figure 54: East Asia Market Attractiveness Analysis by Type, 2023 to 2033
Figure 55: East Asia Market Attractiveness Analysis by Application, 2023 to 2033
Figure 56: East Asia Market Attractiveness Analysis by Country, 2023 to 2033
Figure 57: Oceania Market Value Share, By Type, 2023 (E)
Figure 58: Oceania Market Value Share, By Application, 2023 (E)
Figure 59: Oceania Market Value Share, By Country, 2023 (E)
Figure 60: Oceania Market Value Analysis (US$ Mn), 2018 to 2022
Figure 61: Oceania Market Value Forecast (US$ Mn), 2023 to 2033
Figure 62: Oceania Market Attractiveness Analysis by Type, 2023 to 2033
Figure 63: Oceania Market Attractiveness Analysis by Application, 2023 to 2033
Figure 64: Oceania Market Attractiveness Analysis by Country, 2023 to 2033
Figure 65: Middle East and Africa Market Value Share, By Type, 2023 (E)
Figure 66: Middle East and Africa Market Value Share, By Application, 2023 (E)
Figure 67: Middle East and Africa Market Value Share, By Country, 2023 (E)
Figure 68: Middle East and Africa Market Value Analysis (US$ Mn), 2018 to 2022
Figure 69: Middle East and Africa Market Value Forecast (US$ Mn), 2023 to 2033
Figure 70: Middle East and Africa Market Attractiveness Analysis by Type, 2023 to 2033
Figure 71: Middle East and Africa Market Attractiveness Analysis by Application, 2023 to 2033
Figure 72: Middle East and Africa Market Attractiveness Analysis by Country, 2023 to 2033
Figure 73: UNITED STATES Market Value Analysis (US$ Mn), 2023 & 2033
Figure 74: UNITED STATES Market Value Share, By Type, 2023 (E)
Figure 75: UNITED STATES Market Value Share, By Application, 2023 (E)
Figure 76: Canada Market Value Analysis (US$ Mn), 2023 & 2033
Figure 77: Canada Market Value Share, By Type, 2023 (E)
Figure 78: Canada Market Value Share, By Application, 2023 (E)
Figure 79: Mexico Market Value Analysis (US$ Mn), 2023 & 2033
Figure 80: Mexico Market Value Share, By Type, 2023 (E)
Figure 81: Mexico Market Value Share, By Application, 2023 (E)
Figure 82: Brazil Market Value Analysis (US$ Mn), 2023 & 2033
Figure 83: Brazil Market Value Share, By Type, 2023 (E)
Figure 84: Brazil Market Value Share, By Application, 2023 (E)
Figure 85: UNITED KINGDOM Market Value Analysis (US$ Mn), 2023 & 2033
Figure 86: UNITED KINGDOM Market Value Share, By Type, 2023 (E)
Figure 87: UNITED KINGDOM Market Value Share, By Application, 2023 (E)
Figure 88: Germany Market Value Analysis (US$ Mn), 2023 & 2033
Figure 89: Germany Market Value Share, By Type, 2023 (E)
Figure 90: Germany Market Value Share, By Application, 2023 (E)
Figure 91: France Market Value Analysis (US$ Mn), 2023 & 2033
Figure 92: France Market Value Share, By Type, 2023 (E)
Figure 93: France Market Value Share, By Application, 2023 (E)
Figure 94: Italy Market Value Analysis (US$ Mn), 2023 & 2033
Figure 95: Italy Market Value Share, By Type, 2023 (E)
Figure 96: Italy Market Value Share, By Application, 2023 (E)
Figure 97: Spain Market Value Analysis (US$ Mn), 2023 & 2033
Figure 98: Spain Market Value Share, By Type, 2023 (E)
Figure 99: Spain Market Value Share, By Application, 2023 (E)
Figure 100: Russia Market Value Analysis (US$ Mn), 2023 & 2033
Figure 101: Russia Market Value Share, By Type, 2023 (E)
Figure 102: Russia Market Value Share, By Application, 2023 (E)
Figure 103: China Market Value Analysis (US$ Mn), 2023 & 2033
Figure 104: China Market Value Share, By Type, 2023 (E)
Figure 105: China Market Value Share, By Application, 2023 (E)
Figure 106: Japan Market Value Analysis (US$ Mn), 2023 & 2033
Figure 107: Japan Market Value Share, By Type, 2023 (E)
Figure 108: Japan Market Value Share, By Application, 2023 (E)
Figure 109: South Korea Market Value Analysis (US$ Mn), 2023 & 2033
Figure 110: South Korea Market Value Share, By Type, 2023 (E)
Figure 111: South Korea Market Value Share, By Application, 2023 (E)
Figure 112: India Market Value Analysis (US$ Mn), 2023 & 2033
Figure 113: India Market Value Share, By Type, 2023 (E)
Figure 114: India Market Value Share, By Application, 2023 (E)
Figure 115: ASEAN Market Value Analysis (US$ Mn), 2023 & 2033
Figure 116: ASEAN Market Value Share, By Type, 2023 (E)
Figure 117: ASEAN Market Value Share, By Application, 2023 (E)
Figure 118: Australia Market Value Analysis (US$ Mn), 2023 & 2033
Figure 119: Australia Market Value Share, By Type, 2023 (E)
Figure 120: Australia Market Value Share, By Application, 2023 (E)
Figure 121: New Zealand Market Value Analysis (US$ Mn), 2023 & 2033
Figure 122: New Zealand Market Value Share, By Type, 2023 (E)
Figure 123: New Zealand Market Value Share, By Application, 2023 (E)
Figure 124: GCC Countries Market Value Analysis (US$ Mn), 2023 & 2033
Figure 125: GCC Countries Market Value Share, By Type, 2023 (E)
Figure 126: GCC Countries Market Value Share, By Application, 2023 (E)
Figure 127: Turkey Market Value Analysis (US$ Mn), 2023 & 2033
Figure 128: Turkey Market Value Share, By Type, 2023 (E)
Figure 129: Turkey Market Value Share, By Application, 2023 (E)
Figure 130: South Africa Market Value Analysis (US$ Mn), 2023 & 2033
Figure 131: South Africa Market Value Share, By Type, 2023 (E)
Figure 132: South Africa Market Value Share, By Application, 2023 (E)
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
What is the size of the balsa wood market?
The global balsa wood market is valued at US$ 155.9 million in 2023.
What is the expected CAGR for the market over the decade?
Global demand for balsa wood is projected to increase at a CAGR of 3.3% from 2023 to 2033.
What is the estimated value of the market for balsa wood for 2033?
The market for balsa wood is anticipated to reach US$ 218 million by 2033.
Which grade of balsa wood is projected to maintain a leading position?
Grade B balsa is most widely used and accounts for 45% market share in 2023.
Who are the key companies supplying balsa wood?
3A Composites, DIAB International AB, The Gill Corporation, Gurit, and CoreLite Inc. are leading manufacturers of balsa wood.
Balsa Wood Market