Honeycomb Core Materials Market - Growth, Trends, and Forecast (2019 - 2024)

The Market is Segmented by Product Type (Nomex, Aluminum, Thermoplastics, and Other Product Types), End-user Industry (Aerospace, Defense, Marine, and Other End-user Industries), and Geography.

Market Snapshot

Honeycomb Core M
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

Key Players:

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Market Overview

The honeycomb core materials market is expected to witness a CAGR of over 9.4%, during the forecast period (2019-2024). The demand for honeycomb core materials is driven by the increased preference for lightweight materials in the aerospace and defence industries, across the world.

  • North America accounted for the largest market size, in terms of consumption, during the forecast period.
  • The absorbance of water and moisture by the honeycomb and the structural limitations of honeycomb core materials act as a restraint to the market.
  • The usage of 3D printing to manufacture honeycomb panels is likely to act as an opportunity to the market, during the forecast period.

Scope of the Report

The honeycomb core materials market report includes:

Product Type
Nomex
Aluminum
Thermoplastics
Other Product Types
End-user Industry
Aerospace
Defense
Marine
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Key Market Trends

Healthy Demand from the Aerospace Sector

  • Aerospace is expected to be the largest market for honeycomb core materials during the forecast period, owing to the high demand for lightweight materials in the aerospace sector. 
  • Core materials played a major role in weight reduction in both, structural applications and components in aircraft.
  • The aerospace industry is growing, as many countries have increased investments in new technologies. According to Boeing, the demand for new aircrafts is expected to reach more than 40,000, by 2036.
  • In 2018, the sales of Boeing rose by 8%, to USD 101 billion, for the first time in its 102-year history, due to increases in commercial and military jet deliveries.
  • The global aerospace deal activity volumes are rising, and a greater growth rate is expected in the near future. As the sector is growing, the demand for honeycomb core materials is also expected to grow during the forecast period.
Honeycomb Core M

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Surging Demand from the Asia-Pacific Region

  • The surging demand for honeycomb core materials from the Asia-Pacific region is mainly due to the developing countries in the region, such as China, India, and South Korea.
  • According to the Association of Asia-Pacific Airlines (AAPA), the region’s airlines carry approximately 1,486 million passengers and 22 million metric ton of cargo, which is almost one-third of the global passenger traffic and two-fifths of the world air cargo traffic, correspondingly, thus playing a leading role in the constant development of global aviation.
  • In addition, passenger traffic is expected to increase up to 40% of the global passenger traffic, by 2036. Hence, the increasing demand for aircraft is expected to drive the demand for honeycomb core materials in the region, during the forecast period.
Honeycomb Core M

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Competitive Landscape

The honeycomb core materials market is fragmented. The major companies include ThermHex Waben GmbH, Hexcel Corporation, Honicel, EURO-COMPOSITES, and Packaging Corporation of America, among others.

Major Players

  1. ThermHex Waben GmbH
  2. Hexcel Corporation
  3. Honicel
  4. EURO-COMPOSITES
  5. Packaging Corporation of America

* Complete list of players covered available in the table of contents below

Honey Comb Core

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand for Lightweight Materials for Fuel Efficiency

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Absorption of Water and Moisture

      2. 4.2.2 Significant Cost of the Products

      3. 4.2.3 Structural Limitations of Honeycomb Core Materials

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porters Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product Type

      1. 5.1.1 Nomex

      2. 5.1.2 Aluminum

      3. 5.1.3 Thermoplastics

      4. 5.1.4 Other Product Types

    2. 5.2 End-user Industry

      1. 5.2.1 Aerospace

      2. 5.2.2 Defense

      3. 5.2.3 Marine

      4. 5.2.4 Other End-user Industries

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Argosy International

      2. 6.4.2 Axxion Group

      3. 6.4.3 Corinth Group

      4. 6.4.4 Dufaylite Developments

      5. 6.4.5 Euro-Composites

      6. 6.4.6 Grigeo

      7. 6.4.7 Hexcel Corporation

      8. 6.4.8 Honeycomb Cellpack

      9. 6.4.9 Honicel

      10. 6.4.10 Koninklijke Ten Cate BV

      11. 6.4.11 Packaging Corporation of America

      12. 6.4.12 Samia Canada

      13. 6.4.13 The Gill Corporation

      14. 6.4.14 Thermhex Waben GmbH

      15. 6.4.15 Thermhex Waben GmbH

      16. 6.4.16 Tubus Baer GmbH

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 3D Printing to Manufacture Honeycomb Panels

    2. 7.2 Increasing Use of Recyclable Products

**Subject to Availability

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