The global Stainless Steel Honeycomb Core Market size is forecast to reach around $1 billion by 2025, after growing at a CAGR of 9% during 2020-2025. Growing uses of Stainless Steel Honeycomb Core in the manufacture of aerospace, automotive, and construction structures drive the growth of Stainless Steel Honeycomb Core market size. Furthermore, the demand for Stainless Steel Honeycomb Core is growing from various industries due to its features such as excellent moisture and corrosion resistance, flame resistant, and fungi resistance. Whereas, the outbreak of COVID-19 pandemic worldwide is significantly declining the growth of various industries, as most of the countries have issued “stay at home guidance” i.e., lockdown. This factor is limiting Stainless Steel Honeycomb Core industry growth during the forecast period.
Among the regions, in 2019, in the North America region, the US dominates the Stainless Steel Honeycomb Core market owing to growing transportation, increasing construction, and developing the aerospace sector across the region.
Stainless Steel Honeycomb Core is highly in demand from hostile environments.
Stainless Steel Honeycomb Core with adhesive-bond offers affordable pricing when compared against conventional welded stainless cores.
The high stiffness, corrosion-resistant, and lightweight nature of Stainless Steel Honeycomb Core makes it suitable for construction applications like exterior cladding, RF shielding, joining panels, and floors.
Increasing trend to replace the heavier conventional sheet and stringer or beam support approach in multi-engine airplane flying drives the growth of stainless steel honeycomb core industries.
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Geography – Segment Analysis
Among the regions, APAC dominated the Stainless Steel Honeycomb Core Market with more than 35%, followed by Europe and APAC. The growth of end-use industries such as construction, oil & gas, healthcare, manufacturing, and marine has led to ample growth opportunities in the APAC Stainless Steel Honeycomb Core market. Furthermore, the presence of emerging countries like China and India with a huge customer base and growing building and construction activities across the countries are also contributing to the growth of Stainless Steel Honeycomb Core market share in the APAC region.
Drivers – Stainless Steel Honeycomb Core Market
Growing demand from the transportation sector
Market Landscape: Major players in the Stainless Steel Honeycomb Core industry analysis are Tricel Honeycomb Corporation, Paramount Metal Finishing, MachineTek LLC, Avion Alloys, Goodfellow, Prime Laminating, Inc., Koshii Maxelum America, Inc., Coast-Line International, Plascore, and Benecor, Inc., EconCore, Universalmetaltek, Panel Built, Inc.
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