Market Size of Honeycomb Core Materials Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 9.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Honeycomb Core Materials Market Analysis
The honeycomb core materials market is expected to witness a CAGR of over 9% during the forecast period 2022-2027. The demand for honeycomb core materials is driven by the increased preference for lightweight materials in the aerospace and defense industries worldwide.
The COVID- 19 outbreak has halted production activity in the automotive, aerospace, and defense industries due to supply chain disruption and government-imposed lockdown measures, resulting in a global drop in demand for honeycomb core materials.
- 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 restrain the market.
- The usage of 3D printing to manufacture honeycomb panels is likely to act as an opportunity for the market during the forecast period.
