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2021
Honeycomb Core Materials Market

Honeycomb Core Materials Market

by Type (Aluminum, Nomex, Thermoplastic, Paper, and Others), Application (Composites and Non-Composites), and End-Use Industry (Packaging, Aerospace & Defense, Construction & Infrastructure, Automotive, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030
Update Available On-Demand

Report Code: A13625
Pages: 356
Sep 2021 | 2552 Views
Author(s) : Anil Chaudhary , Eswara Prasad
Tables: 217
Charts: 80
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Honeycomb Core Materials Market Outlook - 2021-2030

The global honeycomb core materials market size was valued at $2.2 billion in 2020, and is projected to reach $4.6 billion by 2030, growing at a CAGR of 8.1% from 2021 to 2030.

COVID-19 pandemic outbreak across the globe has halted the production activities of automotive and aerospace & defense industries due to supply chain disruption amid government imposed lock down measures owing to which the demand for honeycomb core materials has been declined globally.

Honeycomb core has been used for several decades to manufacture composite sandwich structures. It provides stiffness to the composite structure with minimum weight gain. This core material absorbs the shear forces generated by out of planeloads, distributing between the skins, and spreading them over a bigger area while maintaining the skins at a hard and fast distance. Simultaneously, it provides sound absorption, thermal insulation, electromagnetic shielding, and other benefits. Honeycomb cores are fabricated with a large number of hexagon-shaped cells assembled into a honeycomb structure using various materials such as paper (Nomex and Kevlar), metal (usually aluminum), and thermoplastics (polycarbonate and polypropylene). The selection of honeycomb core materials depends on several parameters, including application, cost, shape, and size.

Honeycomb-Core-Materials-Market--2021-2030

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.

The global honeycomb core materials market size is segmented on the basis of type, application, end-use industry, and region. By type, it is classified into aluminum, Nomex, thermoplastic, paper, and others. By application, it is bifurcated into composites and non-composites. By end-use industry, it is divided into packaging, aerospace & defense, construction & infrastructure, automotive, and others. Region-wise, it is studied across North America, Europe, Asia-Pacific, and LAMEA.

The major key players operating in the global honeycomb core materials market include Hexcel Corporation, Honicel, Packaging Corporation of America (PCA), Argosy International, Euro-Composites, Grigeo, Dufaylite Developments, Cartoflex, Corinth Group, and Axxion Group. Other players operating in this market include Plascore, Koninklijke Ten Cate B.V., Advanced Honeycomb Technologies (AHT), Thermhex Waben GmbH, and The Gill Corporation.

Global Honeycomb Core Materials Market, By Region

Asia-Pacific accounted for a major market share in 2020, owing to increasing demand from packaging, automotive, and aerospace & defense industries across the region due to high strength and lightweight properties of honeycomb core materials. In addition, according to the Association of Asia-Pacific Airlines (AAPA), passenger traffic is expected to increase up to 40.0% of the global passenger traffic by 2036. Thus, increasing demand for aircraft is expected to drive the demand for honeycomb core materials in this region during the forecast period.

Honeycomb Core Materials Market
By Region

2030
Asia-pacific 
North America
Europe
Lamea

Asia-Pacific would exhibit an CAGR of 8.6% during 2021-2030

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Global Honeycomb Core Materials Market, By Type

The paper segment accounted for a major share in the honeycomb core materials market in 2020, 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.

Honeycomb Core Materials Market
By Type

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Paper is projected as the most lucrative segment.

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Global Honeycomb Core Materials Market, By Application

The composites segment accounted for a major share in the honeycomb core materials market in 2020, owing to surge in its demand from aerospace and automotive industries across developing economies, such as China and India, due to weight reduction in structural applications and components in aircraft and automobiles.

Honeycomb Core Materials Market
By Application

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Composites is projected as the most lucrative segment.

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Global Honeycomb Core Materials Market, By End-use Industry

The aerospace & defense industry accounted for a major honeycomb core materials market share in 2020, owning to the high demand for lightweight materials in the aerospace sector. The aerospace industry is significantly growing, as many countries have increased investment in new technologies. According to Boeing, the demand for new aircraft is projected to hit more than 44,040 by 2038. In 2018, Boeing's sales rose by 13.0% to $101,000.0 million due to rise in commercial and military jet deliveries. Global aerospace trade volumes are rising, and a higher growth rate is expected in the near future. As the aerospace sector is growing, the demand for honeycomb core materials is also expected to grow during the forecast period.

Honeycomb Core Materials Market
By End-use Industry

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Aerspace & Defense is projected as the most lucrative segment.

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COVID-19 analysis:

Emergence of the COVID-19 pandemic in many developed and developing countries has adversely affected the operations in various industries, such as automotive and aerospace, as governments of most of the countries have issued “stay at home guidance”, that is lockdown. Attributed to this, the supply chains are facing disruptions, leading to disturbances in production activities in many countries. This is adversely affecting the global honeycomb core materials market.

Key benefits for stakeholders

  • The global honeycomb core materials market analysis covers in-depth information of major industry participants.
  • Porter’s five forces analysis help analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
  • Major countries have been mapped according to their individual revenue contribution to the regional market.
  • The report provides in-depth analysis of the global honeycomb core materials market forecast for the period 2021–2030.
  • The report outlines the current global honeycomb core materials market trends and future scenario of the global honeycomb core materials market from 2020 to 2030 to understand the prevailing opportunities and potential investment pockets.
  • Key drivers, restraints, & opportunities and their detailed impact analysis are explained in the global honeycomb core materials market study.

Key market segments

By Type

  • Aluminum
  • Nomex
  • Thermoplastic
  • Paper
  • Others

By Application

  • Composites
  • Non-Composites

By End-Use Industry

  • Packaging
  • Aerospace & Defense
  • Construction & Infrastructure
  • Automotive
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • Italy
    • Spain
    • UK
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • South Korea
    • India
    • Australia
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Saudi Arabia
    • South Africa
    • Rest of LAMEA
 

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The global honeycomb core materials market is anticipated to witness growth during the forecast period, driven by rising demand for lightweight, high strength materials across various end-use industries such as aerospace & defense, automotive, and building & construction. Rising demand for lightweight, fuel-efficient cars is driving automotive manufacturers to adopt newer materials with lightweight, high strength properties. Honeycomb cores enable the manufacturers to considerably reduce the weight of the vehicle without compromising on strength. The product is being utilized to produce a variety of automotive components, including interior body panels, floors, chassis components, diffusers, and spoilers. In addition, 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. The growing automotive and aerospace industries across developing economies, such as China, India, and Brazil, are expected to drive 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.

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FREQUENTLY ASKED QUESTIONS?

A. Increase in demand from aircraft manufacturing industry, increase in demand for lightweight and excellent strength-to-weight ratio vehicles, Increasing use of paper honeycomb core in packaging industry and expanding interest in lightweight materials are the driving factors and opportunities in the honeycomb core materials market.

A. Business expansion and acquisitions are the key growth strategies of honeycomb core materials market players.

A. APAC region will provide more business opportunities for honeycomb core materials in future.

A. Hexcel Corporation, Honicel, Packaging Corporation of America (PCA), Argosy International, Euro-Composites, Grigeo, Dufaylite Developments, Cartoflex, Corinth Group, and Axxion Group are the leading global players in the honeycomb core materials market.

A. Paper honeycomb material, composites, aerospace & defense segments holds the maximum share of the honeycomb core materials market.

A. Packaging, aerospace & defense, construction & infrastructure, automotive companies across the globe are the potential customers of honeycomb core materials industry.

A. The global honeycomb core materials market was valued at $2.2 billion in 2020, and is projected to reach $4.6 billion by 2030, growing at a CAGR of 8.1% from 2021 to 2030.

A. The global honeycomb core materials market analysis covers in-depth information of major industry participants, Porter’s five forces analysis help analyze potential of buyers & suppliers and the competitive scenario of the industry for strategy building, major countries have been mapped according to their individual revenue contribution to the regional market, the report provides in-depth analysis of the global honeycomb core materials market forecast for the period 2021–2030, the report outlines the current global honeycomb core materials market trends and future scenario of the global honeycomb core materials market from 2020 to 2030 to understand the prevailing opportunities and potential investment pockets, and key drivers, restraints, & opportunities and their detailed impact analysis are explained in the global honeycomb core materials market study.

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