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The global honeycomb core materials market, valued at USD 2.60 billion in 2022

VANCOUVER, BRITISH COLUMBIA, CANADA, June 5, 2024 /EINPresswire.com/ -- The global honeycomb core materials market, valued at USD 2.60 billion in 2022, is projected to experience significant growth, with a revenue CAGR of 7.7% over the forecast period. This expansion is primarily driven by the rapid growth of the building and construction sector and the increasing demand for fuel-efficient lightweight materials.

Honeycomb core materials, known for their lightweight yet sturdy properties, are created by expanding and corrugating composite materials such as glass-reinforced plastic, metal, meta-aramid, and paper. These materials have been extensively used in composite sandwich structures due to their rigidity and minimal weight.

Market Drivers

Industries such as aerospace, military, construction, automotive, marine, railway, and various industrial sectors are increasingly adopting honeycomb core materials for a wide range of applications. This adoption is expected to significantly boost market demand during the forecast period.

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Key Developments

In January 2022, The Gill Corp. introduced the Gillcore HF fiberglass honeycomb core, specifically designed to meet the stringent requirements of the aerospace sector. This new core offers enhanced moisture resistance and aligns with all AMS 3715 standards.

Growth Factors

The building and construction sector's rapid expansion, particularly in developed and developing countries like the United States, China, and India, is driving demand for honeycomb core materials. These materials are increasingly used in acoustic ceilings, thermal insulation, floors, and window panels. Modern architecture and construction trends further boost the adoption of these materials.

In September 2021, entrepreneurs in Jaipur, India, developed biodegradable and winter-resistant honeycomb sheets for innovative furniture solutions. These sheets are lightweight, durable, and environmentally friendly, further highlighting the versatility and demand for honeycomb core materials.

Automotive Industry Impact

The automotive industry, driven by increased logistics and transportation activities, is a major consumer of honeycomb core materials. These materials are favored for their strength, durability, and corrosion resistance, making them ideal for constructing external and interior body panels. Additionally, they enhance the performance and efficiency of renewable energy systems, such as solar panels and wind turbines.

In May 2021, EconCore launched a new honeycomb core made from SABIC's NORYL GTX resin. This innovative core is suitable for various challenging applications, including those in the automotive, e-mobility, and photovoltaic sectors.

Market Challenges

Despite their advantages, honeycomb core materials face challenges such as limited design flexibility and higher costs. These factors can restrict their adoption in certain industries. For example, aluminum honeycomb cores are susceptible to stress corrosion, limiting their use in highly corrosive environments like the maritime industry.

Honeycomb Core Top Companies and Competitive Landscape

The global honeycomb core materials market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective products.

Some of the major companies included in the global honeycomb core materials market report are:

Hexcel Corporation
Honicel
Packaging Corporation of America
Argosy International
Euro-Composites
Grigeo
Dufaylite Developments
Cartoflex
Corinth Group
Axxion Group
Toray Advanced Composites
Schütz GmbH & Co. KGaA.
Argosy International Inc.
Plascore, Inc.
The Gill Corporation
RelCore Composites Inc.
Honeycomb Core Latest Industry News

On November 18, 2022, EconCore, a global pioneer in the development of cost-effective honeycomb sandwich materials, constructed a new production line for lightweight honeycombs made from recycled PET (rPET). The EconCore Group consists of ThermHex Waben GmbH in Germany and EconCore NV in Belgium, which produce polypropylene (PP) honeycomb cores. The recycled post-consumer and post-industrial waste comprises up to 100% of the rPET honeycomb cores.

On May 06, 2020, Hexcel Corporation announced that DNV GL had certified the type of approval of its HexPly M79 Prepreg materials. All DNV GL classed boats can employ HexPly M79 materials thanks to this crucial third-party certification.

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Honeycomb Core Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the global honeycomb core materials market on the basis of type, application, end-use, and region:

Type Outlook (Revenue, USD Billion; 2019-2032)
Aluminum
Nomex
Thermoplastic
Paper
Other
Fiberglass
Carbon
Stainless Steel

Application Outlook (Revenue, USD Billion; 2019-2032)
Non-Composites
Composites

End-Use Outlook (Revenue, USD Billion; 2019-2032)
Packaging
Aerospace
Transportation
Construction and Infrastructure
Others
Sporting Goods
Marine
Industrial

Regional Outlook (Revenue, USD Billion; 2019–2032)
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of MEA

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Market Segments

Type: The market is segmented into aluminum, Nomex, thermoplastic, paper, and others (including fiberglass, carbon, and stainless steel). The paper segment dominated the market in 2022 due to its excellent stiffness-to-weight ratio and environmental benefits.
Application: The market is divided into non-composites and composites. The composites segment is expected to hold the largest revenue share, driven by the use of honeycomb panels in various structural applications.

End-Use: Key end-use sectors include packaging, aerospace, transportation, construction, and others (such as sporting goods, marine, and industrial). The aerospace segment is anticipated to lead the market due to the high demand for lightweight materials in aviation.
The honeycomb core materials market is set for significant growth, driven by advancements in construction, automotive, and aerospace sectors. Ongoing innovations and increasing investments in these materials will continue to propel the market forward.

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