Global Honeycomb Core Material Market was valued at USD 2.05 Billion in 2016 and is expected to reach USD 5.07 Billion by 2026 at a CAGR of 9.44%.
Escalating demand for high strength, lightweight and environment-friendly packaging solutions are driving the growth of the honeycomb core materials market. Players operating in the honeycomb core material are entering into agreements with other companies to develop new products and acquiring smaller companies to grow their presence and secure their position in global market.
honycomb core materials marketBased on end-use industry, packaging segment is estimated to lead the honeycomb core materials market in terms of volume as well as value. Honeycomb core materials are not only durable and strong but they also offer rigidity and cushioning thereby providing outstanding protection.
Paper segment can be further attributed to increase in demand for honeycomb core materials in protecting industrial appliances. Household equipment and delicate & fragile products are also provided protection from external influence during transportation with the application of honeycomb core materials further helping the overall growth.
Asia Pacific region formed the largest market for honeycomb core materials market in terms of volume as well as value. The growth of packaging industry is directly driving the honeycomb core materials market in Asia Pacific region. Drivers such as the increase in the use of paper honeycomb in pallets and boxes for transportation of goods along with growing demand for honeycomb core materials in developing countries, such as India and China.
Scope of the Report:
Honeycomb Core Materials Market, by Type:
- Nomex
- Thermoplastic
- Aluminum
- Paper
- Others
Honeycomb Core Materials Market, by Application:
- Non-Composites
- Composites
Honeycomb Core Materials Market, by End-Use Industry:
- Construction & infrastructure
- Transportation
- Packaging
- Aerospace & Defense
- Others
Honeycomb Core Materials Market, by Region:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Key players operating in the Honeycomb Core Materials market:
- Honicel (Netherlands)
- Hexcel Corporation (US)
- Euro-Composites (Luxembourg)
- Argosy International (US)
- Grigeo (Lithuania)
- Plascore (US)
- Tubus Baer GmbH (Germany)
- Corinth Group (Netherlands)
This article is published by Maximize Market Research
About Maximize Market Research:
Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
