Introduction
The global honeycomb core materials market is a contributing segment of the global core materials market. From a top down perspective, Strategy Here has analyzed the global core materials market as a parent market to set the context in which the global honeycomb core materials market will be analyzed.
Honeycomb core materials are one of the commonly used core materials. These core materials are manufactured using aluminum, aramid, thermoplastic, fiberglass, carbon and other metallic cores. This honeycomb core materials possess high strength, stiffness, extremely lightweight, high compression and shear properties.
These properties make them more cost-efficient and provides better stiffness and strength to the structure. Therefore, elevating the demand for honeycomb core materials in various end-use industries
Table of Contents
Market Overview
The Global Honeycomb core materials market is expected to grow to $2,330.00 million by 2025.
Growth momentum is expected to accelerate during the forecast period with 11.53% CAGR.
Composite honeycomb core materials are registering highest market due to its increasing application in aircraft manufacturing and transportation.
Europe is forecasted to grow as major consumer for this market
Key Trends
Growing 3D printing technology of honeycomb panels is expected to offer numerous opportunities for growth during forecast period.
Increasing merger and acquisition along the supply chain of aircraft manufacturing sector will fuel the growth of Honeycomb core materials market.
Key Market Players
Some of the key players in the market are Argosy International, Carbon-Core, EconCore, EURO-COMPOSITES, Hexcel Corporation, PLASCORE.
The global honeycomb core materials market is one of the growing markets. It consists of major vendors whose presence is widely in APAC regions.
Key vendors in the market are keenly focusing on M&A to shield themselves from the threat of rivalry.
Growth Drivers and Challenges
The rising investment in various construction and infrastructure projects across the globe is driving the market. Global construction industry is growing at a faster pace with a major contribution from emerging countries. In 2016, the global construction industry has reached approximately $8.82 trillion from $7.91 trillion in 2012. The revenue is expected to reach approximately $14.98 trillion by 2025. Government projects like 'Vision 2030' which is aimed for economic diversification and reducing the dependency on oil revenues are expected to fuel the construction industry.
Increasing adoption of composites in aircraft manufacturing
High price of honeycomb core material is restricting the consumption in various end-user industries
The changing dynamics of the market after Pre-COVID and post-COVID situations places a integral part in market growth. During pandemic, the grounding of B737 Max and US-China trade war along with production halt has challenged the Market growth