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Global Honeycomb Core Materials Market Insight2022-02-10 Comments
The honeycomb core materials are forecast to crazy increase over the next few years. According to the WK-chem Research “Global Honeycomb Core Materials Professional Survey Report 2022, Forecast to 2027”, Surging demand in aircraft manufacturing, demand for lightweight and vehicles that offer an excellent strength-to-weight ratio, and use of paper honeycomb cores in the packaging industry are driving the growth of the global honeycomb core materials market. The compound annual growth rate (CAGR) for the 2022-2027 period is projected to be 9.24% base on WK-chem Research regression analysis model.
The current global honeycomb core materials market is characterized by numerous multinational companies. Industry players are focusing on developing highly customized products to meet the specific needs of various end-use sectors, said Amy, Senior analyst, Chemical & Material Market Research Center in WK-chem Research. In addition, industry players are developing collaborative and joint venture programs to develop newer, improved products.
The global demand for honeycomb core materials is primarily driven by surge in demand for high strength, lightweight, and environment-friendly packaging solutions. Honeycomb core materials are being utilized to produce a variety of automotive components, including interior body panels, floors, chassis components, diffusers, and spoilers. The rising demand for lightweight, fuel-efficient cars is driving automotive manufacturers to adopt newer materials with lightweight, high-strength properties that will foster the honeycomb core materials market growth. Furthermore, increasing demand from Boeing and Airbus coupled with significant improvements in commercial aspects is anticipated to propel the growth of the global honeycomb core materials market during the forecast period.
However, absorbance of water and moisture by open cell structures of honeycomb, high cost of Nomex honeycomb core, and structural limitations of honeycomb core materials are expected to hamper the growth of the honeycomb core materials market during the forecast period. Furthermore, increasing use of recyclable products is expected to provide growth opportunities for the honeycomb core materials market during the forecast period.
This WK-chem Research market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading Honeycomb Core Materials companies that include Tricel Honeycomb, MachineTek, Coast-Line International, SDG Hollow Metal, Panel Built, Prime Laminating, Pacific Marine Systems, Koshii Maxelum America, Plascore, Hexcel.
Segmentation of Honeycomb Core Materials Market:
According to the type honeycomb core materials products can be subdivided into aluminum, nomex, thermoplastic, paper, and others. The paper segment accounted for a major share in the honeycomb core materials market, owing to the usefulness of paper honeycomb core materials in the packaging industry. Paper honeycombs are increasingly being used in the packaging industry in boxes and pallets for protecting household & industrial appliances, equipment, and others. In addition, paper honeycomb core materials are also significantly used in furniture and automotive applications.
Based on the end-use industry, the honeycomb core materials market can be further divided into aerospace and defense, automotive, building & construction, packaging, and others. The aerospace and defense industry segment has emerged as the leading end-use segment for honeycomb core materials. The aerospace-grade honeycomb core materials are progressively replacing the traditional materials including laminated panels and aluminum sheets on account of their lightweight and high strength attributes. The product is finding growing adoption in the production of a variety of aerospace components such as helicopter blades, fuselage components, aircraft flooring, and, antennas.
Honeycomb Core Materials Market: Regional Analysis
In terms of geography, the global Honeycomb Core Materials market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. Asia Pacific holds a major market share as rising aircraft demand will drive the demand for cellular core materials. Most of the demand comes from China, Japan and India. Currently, honeycomb core material market penetration in this region is low due to low product visibility and high cost. However, the growing adoption of paper honeycomb core material by the fast-growing packaging industry in the region is expected to drive product demand over the forecast period. In addition, the region dominates the global shipbuilding industry and thus, the increasing popularity of products from the shipbuilding industry is positively influencing the future market growth.
Largest share area：Asia Pacific
Largest share country：China
Product Type：luminum, Nomex, Thermoplastic, Paper, and Others
Application：Aerospace And Defense, Automotive, Building & Construction, Packaging, And Others
Leading Company：Hexcel, Tricel Honeycomb, MachineTek, Plascore, Prime Laminating