Lucintel anticipates that Rest of the World will be the fastest growing region for the global honeycomb core material market
According to a new market report published by Lucintel, the future of the honeycomb core material market looks attractive with opportunities in the aerospace, defense, and marine, and other industrial applications. The global honeycomb core material market is expected to reach an estimated $640.5 million by 2022 and is forecast to grow at a CAGR of 5.3% from 2017 to 2022.
The major growth drivers for this market are excellent mechanical performance of honeycomb core, increasing demand for lightweight materials, and robust growth of the end use industries.
In this market, Nomex® and aluminum, polypropylene, polyurethane, and polycarbonate the major honeycomb product types, in which Nomex® and aluminum have major share.
Lucintel forecasts that Nomex is expected to remain the largest product segment and is also expected to witness the highest growth in the forecast period due to its lightweight and very good mechanical properties, and this is why it is used in various aerospace applications.
Within the honeycomb core material market, aerospace is expected to remain the largest end use industry; it is also expected to witness the highest growth during the forecast period, supported by increasing demand for lightweight materials in advanced commercial aircraft models.
North America is expected to remain the largest market by value and volume due to the presence of users who consume large volume of honeycomb especially from aerospace industry. Rest of the World is expected to witness the highest growth over the forecast period because of the growing demand form the end user industries in the region.
Emerging trends, which have a direct impact on the dynamics of the industry, include addition of lightweight rubber membranes in honeycomb cores to reduce noise in aircraft and cost-efficient production of honeycomb core with homogenous skin bonding. Hexcel, The Gill Corporation, Eurocomposites, and Plascore are among the major suppliers of honeycomb core materials.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global honeycomb core material market by product type, end use industry, and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Global Honeycomb Core Material Market 2017-2022: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions.
The study includes a forecast for the global honeycomb core material market by product, end use industry, and region as follows:
By Product Type [Volume (Million Pounds) and $M shipment analysis for 2011 – 2022]:
By End Use Industry [Volume (Million Pounds) and $M shipment analysis for 2011 – 2022]:
By Region [Volume (Million Pounds) and $M shipment analysis for 2011 – 2022]:
- North America
- Asia Pacific
- The Rest of the World
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