Properties such as high strength, stiffness, and light weight are boosting the demand for honeycomb core materials in various industries. This is likely to boost the honeycomb core materials market.
Honeycomb Core Materials: Introduction
- Of late, demand for lightweight materials has been increasing year-on-year in industries such as aerospace and packaging. Core materials play a major role in lightweight materials. In order to make materials or components lightweight, a sandwich structure is used across industries. The sandwich structure consists of two relatively thin and strong faces separated by a relatively thick core. The core used in a sandwich structure is segmented into different types, honeycomb being one of them.
- The honeycomb core material is a manmade structure that has a similar geometry as that of a honeycomb. It allows minimization in the material used and makes the structure more lightweight. It is also economical in cost.
- Honeycomb core material provides excellent strength and stiffness to the structure. Properties such as high strength, stiffness, and light weight are boosting the demand for honeycomb core materials in various industries. This is likely to boost the honeycomb core materials market.
Honeycomb Core Materials Market: Segments
- The global honeycomb core materials market can be segmented based on type, application, end-use industry, and region
- Based on type, the honeycomb core materials market can be classified into paper, thermoplastic, nomex, aluminum, fiberglass, and others. Paper honeycomb core materials are significantly used in packaging, furniture, automotive, and other applications. Paper honeycombs are increasingly being used in the packaging industry in boxes and pallets for protecting household & industrial appliances, equipment, and others. The paper honeycombs segment is projected to dominate the market during the forecast period time, owing to the usefulness of paper honeycomb core materials in the packaging industry.
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- In terms of application, the honeycomb core materials market can be categorized into composite and non-composite. Composite applications of honeycomb core materials include aircraft and automotive. Non-composite applications of honeycomb core materials include packaging and construction. Demand for honeycomb core materials is increasing due to their versatility and usefulness.
- Based on end-use industry, the honeycomb core materials market can be classified into packaging, aerospace, defense, and construction & infrastructure. The packaging industry segment is projected to dominate the honeycomb core materials market during forecast period.
COVID-19 Impact on Honeycomb Core Materials Market
- Emergence of the new COVID strain in many developed and developing countries has adversely affected the health care infrastructure. Hospital staff, medicines, oxygen beds, and ventilators are in short supply. Supply chains are facing disruptions, leading to disturbances in production activities in many countries. This is adversely affecting the global honeycomb core materials market.
- On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 213 countries and territories around the world.
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North America to Dominate Honeycomb Core Materials Market
- In terms of geography, the global honeycomb core materials market can be segmented into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa
- Increase in the use of honeycomb core materials in the aerospace industry is expected to fuel the demand for these materials in North America. The market in North America is expected to expand at rapid pace during the forecast period.
- Expansion of the automotive industry is fueling the demand for honeycomb core materials in Europe. The market in the region is expected to expand at a rapid pace during the forecast period.
- Manufacturing, transportation, and packaging industries in countries in Asia Pacific such as India and China are expected to expand at a rapid pace in the near future. This is estimated to propel the honeycomb core materials market in the region. According to Asia Pacific Airlines, the Asia Pacific region carries almost 1,200 million passengers and 20 million tons of cargo. This is around two-fifths of global cargo traffic and one-third of global passenger traffic. Honeycomb core materials are significantly used in the aerospace industry in Asia Pacific. This is expected to fuel the market in the region in the next few years.
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Key Manufacturers Operating in Global Honeycomb Core Materials
- The global honeycomb core materials was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the global honeycomb core materials market include:
- Honicel
- Euro-Composites
- Argosy International
- AB Grigeo
- Plascore, Inc.
- Tubus Baeuer GmbH
- Corint Group
- Axxor
- Hexcel Corporation
Global Honeycomb Core Materials Market: Research Scope
Global Honeycomb Core Materials Market, by Type
- Paper
- Thermoplastic
- Nomex
- Aluminum
- Fiberglass
- Others
Global Honeycomb Core Materials Market, by Application
- Composite
- Aircraft
- Automotive
- Non-composite
- Packaging
- Construction
Global Honeycomb Core Materials Market, by End-use Industry
- Packaging
- Aerospace
- Defense
- Construction
- infrastructure
Global Honeycomb Core Materials Market, by Region
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia & CIS
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- ASEAN
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Companies in the Honeycomb Core Materials market have increasingly shifted gears with wide application of digital technology across the continuum, from raw material sourcing to manufacturing to generation of final output, to warehousing to final distribution operations. Among the various affects, the market is witnessing new growth economics due to thinning of line between specialty and commodity businesses that are associated with the larger ecosystem. At the same time, new growth parameters are being vigorously being debated as industry stakeholders put greater emphasis on the circular economy processes.
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