Expert Market Research’s new report titled ‘Global Honeycomb Materials Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global market honeycomb core materials market, assessing the market based on its segments such as product, application, end-use, and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2016-2026)
- Historical market size (2020): $2.69 billion
- Forecast CAGR (2021-2026): 22%
- Forecast market size (2026): 5.05 billion USD
The global honeycomb core materials industry is expected to grow at a rapid pace in the coming years, driven by increased demand for lightweight and high-strength materials across a variety of end-use industries, including including aerospace and defense, automotive, building and construction. . Growing use of the products in manufacturing “structured honeycomb sandwich panels” is further expected to drive the market growth over the forecast period. The building and construction sector generates a healthy demand for honeycomb core materials. The product is gaining acceptance as a support material to provide a flat, rigid and stable structure to metal, glass, stone and other such decorative surfaces. Additionally, the product is used as a component in a variety of applications such as wall cladding, ceilings and canopies, and other interior materials to reduce overall structural weight. The increasing use of honeycomb core materials owing to their mechanical strength and dimensional accuracy in the aerospace industry is driving the growth of the market.
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Industry definition and major segments
The honeycomb core material is an artificial structure that has a honeycomb geometry. Honeycomb core materials have a layer of hexagonal hollow cells sandwiched between thin vertical walls made of cardboard, paper or metal sheets as the basic structure. It reduces the amount of material needed and lightens the building. It is also cost effective. The honeycomb core material gives the construction exceptional strength and rigidity. Honeycomb core materials are in high demand in a variety of industries due to their high strength, stiffness and low weight.
The main products of honeycomb core materials are:
The market can be broadly categorized on the basis of its applications into:
- Composite materials
On the basis of end-use, the market is split into:
- Aeronautics and Defense
- Construction and infrastructure
Based on region, the industry is divided into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Honeycomb core materials are in high demand in a variety of industries due to their high strength, stiffness and low weight, which is expected to drive the demand for honeycomb core materials. Honeycomb panels are being used in the sector owing to the growing attention to energy efficiency, which is expected to drive the growth of the honeycomb material industry over the forecast horizon. Honeycomb core materials are becoming increasingly popular as the demand for environmentally friendly and biodegradable packaging materials increases. Honeycomb is a good material to use in protective packaging, pallets, and packaging fillers due to its low cost and high strength. Honeycomb packaging is used in a variety of industries, including transportation and furniture, to provide increased product protection while increasing energy efficiency, driving the growth of the materials industry honeycomb.
Main market players
Major market players include Hexcel Corporation, Argosy International Inc., Honicel Nederland BV, Euro-Composites Group, and Schütz GmbH & Co. KGaA, among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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