Honeycomb Core Materials Market Growth, Worth, Company Profiles, and Forecast To 2027
Rising demand from Airbus and Boeing, increase in demand for lightweight and excellent strength-to-weight ratio vehicles are some of the main factors propelling the market growth.
The global Honeycomb Core Materials Market is forecast to reach USD 4.90 Billion by 2027, according to a new report by Reports and Data. The global honeycomb core materials market is anticipated to grow at an accelerated pace over the forecasted period owing to rising demand for high strength, lightweight materials across various end-use industries such as automotive, aerospace & defense, and construction & building industry.
Rising product utilization in the production of honeycomb sandwich structured panels’ is further estimated to boost market growth in the next few years. Honeycomb core sandwich structured panels exhibit tremendous structural strength and compression and have emerged as an effective, lightweight alternative to wood panels, aluminum sheets, and plywood.
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Key participants include Hexcel Corporation, Honicel, Packaging Corporation of America, Argosy International, Euro-Composites, Grigeo, Dufaylite Developments, Cartoflex, Corinth Group, and Axxion Group among others.
Growing demand for fuel-efficient, lightweight cars are driving automotive manufacturers to switch to new materials with high strength, and lightweight properties. Honeycomb cores allow the manufacturers to decrease the weight of the vehicle without overlooking the strength. The product is being used to produce a variety of automotive parts, including interior floors, chassis components, spoilers, diffusers, and body panels.
The construction and building sector are generating a huge demand for honeycomb core materials. The product is finding increasing acceptance as a backing material to offer a stiff, stable structure metal, stone, flat, glass, and other such decorative surfaces. Moreover, the product is being used as a part of a variety of applications like ceilings, canopies, wall cladding, and other interiors materials to decrease the weight of the overall structure.
Further key findings from the report suggest
- Among the type segment of the honeycomb core materials market, Nomex is expected to register the highest CAGR of 9.5% over the forecasted period.
- The usage of 3D printing for the production of honeycomb panels is expected to act as a key opportunity for the honeycomb core materials market during the forecast period.
- Honeycomb core materials are durable and strong. They also provide properties such as rigidity and cushioning, thus offering superior protection.
- Among the regional segment of the honeycomb core materials market, Asia-Pacific is presently leading the market with 57.6% of the global market revenue, and it will continue to dominate with an estimate to register the highest CAGR of 9.4% over the forecasted period.
- The absorbance of moisture and water by the honeycomb and the structural limitations of honeycomb core materials act as a prime restraint to the market growth in the next few years.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/honeycomb-core-materials-market
For the purpose of this report, Reports and Data have segmented into the honeycomb core materials market on the basis of type, application, end-users and region:
Type Outlook (Revenue, USD Million; 2017-2027)
Application Outlook (Revenue, USD Million; 2017-2027)
End-User Outlook (Revenue, USD Million; 2017-2027)
- Aerospace & Defense
- Construction and Infrastructure
Regional Outlook (Revenue, USD Million; 2017-2027)
- North America
- Asia Pacific
- Latin America
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