Honeycomb sandwich material Market Forecast to Reach $1 Billion by 2025

October 12, 2020
Rohitkurup

Honeycomb sandwich material Market is forecast to reach $1 billion by 2025, after growing at a CAGR of 10.6% during 2020-2025. The global demand for honeycomb sandwich materials has gained traction owing to its superior mechanical performance and lightweight property. Among the type of materials used for honeycomb structures, aluminum segment accounted for over one-third of the overall market in 2019, owing to its low cost and high tensile strength.

Key Takeaways
  • The usage of 3D printing to manufacture honeycomb panels is likely to act as an opportunity for the market, during the forecast period.
  • In the foreign industrial developed countries, the honeycomb sandwich industry is generally at a more advanced level, the world’s large enterprises are mainly concentrated in the USA, Europe, accounted for most of the international market share.
  • Under cyclic loading, the honeycomb sandwich materials are well known due to its low fatigue impacts which is also a major factor for the market growth.
  • In addition, the use of infrared pulsed thermography or flash thermography while manufacturing honeycomb sandwich panels in space aircraft have provided various benefits, only the problem is sometimes it cannot resist heat efficiency which is not good for space aircrafts.
  • Currently, due to the impact of COVID-19, automotive and aerospace industry is resulting with huge crisis, which is constraining the growth of the market.

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Geography – Segment Analysis
North America and Europe collectively accounted for about XX% share of the global honeycomb sandwich materials market in 2019, and is expected to maintain its dominance throughout the forecast period. This is attributed to the rise in the applications of satellites, commercial and defense aircrafts, automobiles, and trains in these regions, thereby increasing the demand for honeycomb sandwich.
Drivers – Honeycomb sandwich material Market
  • Innovation in the field of material science to reduce energy consumption leads to drive honeycomb sandwich materials market. 
Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Honeycomb sandwich material market. Honeycomb sandwich material Market top 10 companies are Hexcel Corporation, Pacific Panels, Inc., COREX-Honeycomb, The Gill Corporation, 3A Composites Holding AG, EconCore, Samia Canada, Inc., Liming Honeycomb Composites Co., Ltd., Guangzhou Aloya Renoxbell Aluminum Co., Ltd., Benecor, Inc., and 3M Company, among others.
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