Honeycomb Core Materials Market
Honeycomb Core Materials Market Size, Share & Trends Analysis Report by Product Type (Nomex, Aluminum, Thermoplastics, and Other Product Types), by End-User Industry (Aerospace, Defense, Marine, and Other End-user Industries) Forecast Period (2023-2030) Update Available - Forecast 2024-2030
Honeycomb core materials market is anticipated to grow at a considerable CAGR of 8.5% during the forecast period. The increased preference for lightweight materials in the aerospace and defense industries across the globe is a key factor driving the growth of the global honeycomb core material market. Core materials played a significant role in weight reduction in both structural applications and components in aircraft.
The aerospace industry is growing, as many countries have increased investments in new technologies. According to Boeing, the demand for new aircraft is expected to reach more than 40,000 by 2036. The water and moisture absorbance properties of the honeycomb and the structural limitations of honeycomb core materials may restrain market growth. The growing usage of 3D printing to manufacture honeycomb panels is likely to act as an opportunity for the growth of the honeycomb core material market during the forecast period.
Segmental Outlook
The global honeycomb core materials market is segmented based on product type and end-user industries. Based on product type, the market is segmented into nomex, aluminum, thermoplastics, and other product types. Based on end-user industries, the market is sub-segmented into aerospace, defense, marine, and other end-user industries. Aerospace held major market share based on end-user industries due to high usage of honeycomb core material in aerospace industry. The global aerospace deal activity volumes are rising, and a greater growth rate is expected. As the sector is growing, the demand for honeycomb core materials is also projected to grow during the forecast period.
Aluminum Segment Holds a Prominent Market Share in the Global Honeycomb Core Materials Market
The growing demand for aluminum honeycomb core material from marine industry is a key factor driving the growth of this market segment. Maritime transport is a major contributor to the global economy as well as an essential mode of transport. 90.0% of the global trade is carried out by sea, and maritime transport is the most cost-effective mode of transport of raw materials and goods. The favorable mechanical properties of aluminum as a material have driven its high demand in the marine industry. The use of aluminum honeycomb in ships contributes significantly in terms of lightweight, rigidity, recyclability, non-toxicity, energy efficiency, and insulation. For instance, the use of aluminum honeycomb in ships offers much more rigidity than other materials used in shipping such as foam core materials.
Regional Outlooks
The global honeycomb core materials market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World (the Middle East & Africa and Latin America). North America is anticipated to exhibit considerable growth in the global honeycomb core materials market. Expansion of automobile industry across Europe is contributing to the growth of the European honeycomb core materials market.
Global Honeycomb Core Materials Market Growth, by Region 2023-2030
Asia-Pacific Region held Considerable Share in the Global Honeycomb Core Materials Market
The increasing demand for honeycomb core materials from the developing countries such as China, India, and South Korea is a key factor driving the regional market growth. According to the Association of Asia-Pacific Airlines (AAPA), the region’s airlines carry approximately 1,486 million passengers and 22 million metric tons of cargo, which is almost one-third of the global passenger traffic and two-fifths of the world air cargo traffic, correspondingly, thus playing a leading role in the constant development of global aviation. In addition, passenger traffic is expected to increase to 40% of the global passenger traffic by 2036. Thus, the Asia-Pacific region held considerable share in the honeycomb core materials market in 2022.
Market Players Outlook
The major companies serving the global honeycomb core materials market include ThermHex Waben GmbH, Hexcel Corp., Honicel Pvt. Ltd., EURO-COMPOSITES, and Packaging Corporation of America among others. The market players are considerably contributing to the market growth by the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in May 2023, GracoRoberts has acquired Washington-based Pacific Coast Composites ("PCC") to significantly expand its composites materials offerings and underpin its standing as the largest, fastest, and most technical aerospace specialty chemicals distributor across the globe. The addition of stocking distributor Pacific Coast Composites to the GracoRoberts family bolsters the organization's product depth and breadth and amplifies its reach to customers and suppliers in the $31 billion (7.5% CAGR) aerospace composites market.
Further, in January 2020, Woodward Inc. and Hexcel Corp. merged to focus on products for aircraft aerodynamics, energy efficiency, improved safety, and reduced emissions and noise. The combined company, to be named Woodward Hexcel, will be among the top independent aerospace and defense suppliers globally by revenue.
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global honeycomb core materials market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. 3M Co.
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. ThermHex Waben GmbH
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Key Strategy Analysis
4. Market Segmentation
4.1. Global Honeycomb Core Materials Market by Product
4.1.1. Nomex
4.1.2. Aluminum
4.1.3. Thermoplastics
4.1.4. Other Products
4.2. Global Honeycomb Core Materials Market by End-User Industries
4.2.1. Aerospace
4.2.2. Defense
4.2.3. Marine
4.2.4. Other End-User Industries
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Argosy International
6.2. Axxion Group
6.3. Corinth Group
6.4. Dufaylite Developments
6.5. Euro-Composites
6.6. Grigeo AB
6.7. Hexcel Corp.
6.8. Honeycomb Cellpack A/S
6.9. Honicel India Pvt. Ltd.
6.10. Koninklijke Ten Cate BV
6.11. Packaging Corporation of America
6.12. Samia Canada
6.13. The Gill Corp.
6.14. Thermhex Waben GmbH
6.15. Tubus Baer GmbH?
1. GLOBAL HONEYCOMB CORE MATERIALS MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2022-2030 ($ MILLION)
2. GLOBAL NOMEX MARKET IN HONEYCOMB CORE MATERIALS RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
3. GLOBAL ALUMINUM MARKET IN HONEYCOMB CORE MATERIALS RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
4. GLOBAL THERMOPLASTICS MARKET IN HONEYCOMB CORE MATERIALS RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
5. GLOBAL OTHER TYPE IN HONEYCOMB CORE MATERIALS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
6. GLOBAL HONEYCOMB CORE MATERIALS MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRIES, 2022-2030 ($ MILLION)
7. GLOBAL HONEYCOMB CORE MATERIALS FOR AEROSPACE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
8. GLOBAL HONEYCOMB CORE MATERIALS FOR DEFENSE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
9. GLOBAL HONEYCOMB CORE MATERIALS FOR MARINE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
10. GLOBAL HONEYCOMB CORE MATERIALS FOR OTHER END-USER INDUSTRIES MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
11. GLOBAL HONEYCOMB CORE MATERIALS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
12. NORTH AMERICAN HONEYCOMB CORE MATERIALS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
13. NORTH AMERICAN HONEYCOMB CORE MATERIALS MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2022-2030 ($ MILLION)
14. NORTH AMERICAN HONEYCOMB CORE MATERIALS MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRIES, 2022-2030 ($ MILLION)
15. EUROPEAN HONEYCOMB CORE MATERIALS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
16. EUROPEAN HONEYCOMB CORE MATERIALS MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2022-2030 ($ MILLION)
17. EUROPEAN HONEYCOMB CORE MATERIALS MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRIES, 2022-2030 ($ MILLION)
18. ASIA-PACIFIC HONEYCOMB CORE MATERIALS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
19. ASIA-PACIFIC HONEYCOMB CORE MATERIALS MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2022-2030 ($ MILLION)
20. ASIA-PACIFIC HONEYCOMB CORE MATERIALS MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRIES, 2022-2030 ($ MILLION)
21. REST OF THE WORLD HONEYCOMB CORE MATERIALS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
22. REST OF THE WORLD HONEYCOMB CORE MATERIALS MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2022-2030 ($ MILLION)
23. REST OF THE WORLD HONEYCOMB CORE MATERIALS MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRIES, 2022-2030 ($ MILLION)
1. GLOBAL HONEYCOMB CORE MATERIALS MARKET SHARE BY PRODUCT, 2022 VS 2030 (%)
2. GLOBAL NOMEX IN HONEYCOMB CORE MATERIALS MARKET SHARE BY REGION, 2022 VS 2030 (%)
3. GLOBAL ALUMINUM IN HONEYCOMB CORE MATERIALS MARKET SHARE BY REGION, 2022 VS 2030 (%)
4. GLOBAL THERMOPLASTICS IN HONEYCOMB CORE MATERIALS MARKET SHARE BY REGION, 2022 VS 2030 (%)
5. GLOBAL OTHER TYPE IN HONEYCOMB CORE MATERIALS MARKET SHARE BY REGION, 2022 VS 2030 (%)
6. GLOBAL HONEYCOMB CORE MATERIALS MARKET SHARE BY END-USER INDUSTRIES, 2022 VS 2030 (%)
7. GLOBAL HONEYCOMB CORE MATERIALS FOR AEROSPACE MARKET SHARE BY REGION, 2022 VS 2030 (%)
8. GLOBAL HONEYCOMB CORE MATERIALS FOR DEFENSE MARKET SHARE BY REGION, 2022 VS 2030 (%)
9. GLOBAL HONEYCOMB CORE MATERIALS FOR MARINE MARKET SHARE BY REGION, 2022 VS 2030 (%)
10. GLOBAL HONEYCOMB CORE MATERIALS FOR OTHER END-USER INDUSTRIES MARKET SHARE BY REGION, 2022 VS 2030 (%)
11. GLOBAL HONEYCOMB CORE MATERIALS MARKET SHARE BY REGION, 2022 VS 2030 (%)
12. US HONEYCOMB CORE MATERIALS MARKET SIZE, 2022-2030 ($ MILLION)
13. CANADA HONEYCOMB CORE MATERIALS MARKET SIZE, 2022-2030 ($ MILLION)
14. UK HONEYCOMB CORE MATERIALS MARKET SIZE, 2022-2030 ($ MILLION)
15. FRANCE HONEYCOMB CORE MATERIALS MARKET SIZE, 2022-2030 ($ MILLION)
16. GERMANY HONEYCOMB CORE MATERIALS MARKET SIZE, 2022-2030 ($ MILLION)
17. ITALY HONEYCOMB CORE MATERIALS MARKET SIZE, 2022-2030 ($ MILLION)
18. SPAIN HONEYCOMB CORE MATERIALS MARKET SIZE, 2022-2030 ($ MILLION)
19. REST OF EUROPE HONEYCOMB CORE MATERIALS MARKET SIZE, 2022-2030 ($ MILLION)
20. INDIA HONEYCOMB CORE MATERIALS MARKET SIZE, 2022-2030 ($ MILLION)
21. CHINA HONEYCOMB CORE MATERIALS MARKET SIZE, 2022-2030 ($ MILLION)
22. JAPAN HONEYCOMB CORE MATERIALS MARKET SIZE, 2022-2030 ($ MILLION)
23. SOUTH KOREA HONEYCOMB CORE MATERIALS MARKET SIZE, 2022-2030 ($ MILLION)
24. REST OF ASIA-PACIFIC HONEYCOMB CORE MATERIALS MARKET SIZE, 2022-2030 ($ MILLION)
25. REST OF THE WORLD HONEYCOMB CORE MATERIALS MARKET SIZE, 2022-2030 ($ MILLION)
