The analysts forecast global honeycomb core materials market to grow at a CAGR of 7.96% during the period 2018-2022. The latest trend gaining momentum in the market is green bonds fueling demand for honeycomb core materials.
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The proceeds of green bonds are reserved for environmental projects. In July 2017, the Korea Development Bank issued a green corporate bond for renewable energy projects worth $300 million.
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The National Bank of Australia issued a green bond for seventeen wind and solar farms. These green bonds have led to an increase in the number of wind turbine installations.
Green bonds can be easily liquefied, and thus companies are keen on acquiring such bonds.
Major key players in the global honeycomb core materials market: Argosy International, Carbon -Core, EconCore, EURO -COMPOSITES, Hexcel Corporation, and Plascore
According to the honeycomb core materials market report, one of the major drivers for this market is Growth and development of shipping industry. Maritime transport is crucial to the global economy.
Sea transportation is cost-effective and accounts for more than 90% of the global trade. In 2015, the World Trade Organization (WTO) estimated that seaborne freight accounted for more than 30% of the world transport.
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Further, the honeycomb core materials market report states that one of the major factors hindering the growth of this market is Slow adoption in emerging applications. Despite the increasing focus on energy savings, there is widespread ignorance about the benefits of honeycomb core materials.
Currently, honeycomb core materials are used extensively in the high performance automotive, aerospace, and defense sectors. The commercial use of honeycomb core materials in industrial applications is still limited to a small number of industries.
The open cell structures of honeycomb core materials absorb moisture, thereby reducing the lifespan and degradability.
Key questions answered in this honeycomb core materials market report:
What will the market size be in 2022 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
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