Honeycomb Core Materials Market: Introduction
In recent times, the demand for lightweight materials in industries such as aerospace, packaging, and others has increased year on year. Core material 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 demand for honeycomb core materials in various industries. This is likely to boost the honeycomb core materials structure market.
Honeycomb Core Materials Market: Segmentation
The 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. In terms of application, the honeycomb core material 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. The 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 of time.
Honeycomb Core Materials Market: Regional Outlook
In terms of region, the honeycomb core materials market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Increase in the use of honeycomb core materials in the aerospace industry is expected to fuel demand for the materials in North America. The market in North America is expected to expand at rapid pace during forecast period. In Europe, expansion in the automotive industry is fueling demand for honeycomb core materials. The market in the region is expected to expand at a high growth rate during forecast period of time. The 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 coming years.
Honeycomb Core Materials Market: Competitive Landscape
The honeycomb core materials market is projected to expand at a high rate during forecast period. Key players operating in the global honeycomb core materials market include Honicel, Euro-Composites, Argosy International, AB Grigeo, Plascore, Inc., Tubus Baeuer GmbH, Corint Group, Axxor, and Hexcel Corporation.