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Global Aramid Honeycomb Core Materials Market Segmentation: By Product Type (aluminum, paper, Nomex, thermoplastic and others); By Transportation (airways, railways, roadways and waterways); By End User (aerospace and defense, packaging, transportation, construction, infrastructure and others) and Region -Analysis of Market Size, Share and Trends for 2014 - 2019 and Forecasts to 2030
[ 170 + Pages Research Report ] Honeycomb Core Material Market to reach USD 569.79 by 2030 from USD 221.18 million in 2020 at a CAGR of 9.9% in the coming years, i.e., 2021-30.
Aramid honeycomb core materials are materials that are used in interior and exterior applications of automobiles, aircraft, ships, and rails. They can range from low strength to high strength materials depending upon the material purpose such that of aluminum, Nomex, thermoplastic, paper, and others. Honeycomb core materials are used in non-composites and composites usages such as in packaging, transportation, construction, aerospace, and defense. The demands for these materials are rising at a high rate because of their ability to increase the fuel efficiency of vehicles along with their lightweight feature.
The global Honeycomb Core Material Market was valued at USD 2.05 Billion in 2018. The market size in the transportation industry was USD 221.18 million in 2020 and is projected to grow to USD 569.79 million by 2030 at a CAGR of 9.9%. 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 growth in the market is due to the high demand for high-performance material due to its low weight, good tensile strength, high strength-to-weight ratio, and electrical conductivity.
Source: Fatpos Global
Plascore Inc, a maker of honeycomb cores for aerospace, building business, and mass transportation, is growing in New Zealand, Michigan operations, funding USD 6 million and making 10-15 jobs in the coming two years.
AVIC designates Argosy’s exclusive supplier for its aramid honeycomb core goods. Argosy also produces aluminum honeycomb core goods in a joint venture with Xian’s aircraft and promotes them all over the globe.
The Aramid honeycomb core materials market can be segmented into product type, end-user industry, transportation, and region.
Based on the product type, the market is segmented as aluminum, paper, Nomex, thermoplastic, and others. The largest share of the Aramid honeycomb core materials market was of the paper segment. Nomex honeycomb has applications in sporting goods, aerospace & defense, and transportation.
Based on the end-use industry type, the market is segmented as aerospace and defense, packaging, transportation, construction, infrastructure, and others. The market was led by the packaging segment by value and volume in 2018 due to its large-scale usage in various industries around the globe. Aerospace is expected to be the largest market for honeycomb core materials during the forecast period, owing to the high demand for lightweight materials.
By transportation, the market can be sub-divided into airways, railways, roadways, and waterways. Airways have the biggest industry by volume in this market.
The region segment can be further divided into five major types including North America, Latin America, Europe, APAC, and MENA.
Rapid growing e-commerce is driving the Aramid Honeycomb Core Materials Market
Increased demand for high strength, lightweight materials in aerospace and defense and environment-friendly packaging solutions are driving the growth of the honeycomb core materials market. The rapidly growing e-commerce along with the need for safe and secure transportation of products also increases the demand for paper honeycomb core materials. Furthermore, the usage of 3D printing to manufacture honeycomb panels can also be seen as a driving force in the market.
High cost acts as a restraint in the market
The high cost of Nomex honeycombs and absorbance of water and moisture by open cells of the honeycomb core and structural limitations also acts as restraints in the growth of the aramid honeycomb core materials market.
Hexcel Corporation
Business Strategy
The region segment can be further divided into five major types including North America, Latin America, Europe, APAC, and MENA. North America had the largest market in terms of consumption of the Aramid honeycomb core materials market during the forecast period. North America accounted for the largest share owing to the high demand for Aramid honeycomb core materials in commercial aircraft. Furthermore, there is a huge demand for honeycomb materials even in waterways from cruise ships and powerboats. APAC region formed the largest in value and volume due to the growth in the packaging industry. In developing economies such as India and China, the use of paper honeycomb in pallets and boxes for transportation of goods along with the increased demand for honeycomb core materials is the reason for the market growth.
Source: Fatpos Global
Aramid Honeycomb Core Materials Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities-o-Y Growth, CAGR – the United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Aramid Honeycomb Core Materials Market segments:-
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