Global Honeycomb Sandwich Material market was valued at $1.3 billion in 2019 and is anticipated to generate $2.1 billion by 2027. The market is projected to experience growth at a CAGR of 6.2% from 2020 to 2027.
Honeycomb sandwich is a structure with three layers, in which a low-density core is inserted between two relatively thin layers for enhancing its mechanical properties and reducing its weight. High strength, stiffness, corrosive resistance, minimum raw material requirement in manufacturing are some of the characteristics of high temperature honeycomb structures.
The key factors driving the growth of the honeycomb sandwich material market include increase in production of various aircrafts and growth in the space industry across the world. Honeycomb sandwich materials are widely used in the aircraft and space industries, as these provide remarkable mechanical properties and are lightweight, thus conserving fuel and reducing the weight of the vehicle. However, capital-intensive nature of market characterized by high cost of production and raw materials is expected to hamper the growth of the honeycomb sandwich material market. Meanwhile, 3D printing of honeycomb panels is anticipated to provide lucrative opportunities to the honeycomb material manufacturers.
The honeycomb sandwich material market is segmented into material type, application, technology, and region. By material type, the market is divided into aluminum, steel, composites, titanium, Inconel, and others. The aluminum segment dominated the market share as it is abundantly available and has low cost. The composite segment is the fastest growing segment owing to its enhanced properties such as high strength, low cost, and easy to mold.
Depending on application, the market is categorized into aerospace, automotive, marine, locomotive, construction, and others. The aerospace segment holds the largest market share due to high stiffness to weight and high strength-to-weight ratio. The automotive segment is anticipated to grow at the fastest pace during the forecast period owing to its superior performance in driving dynamics, vehicle agility, reduced carbon dioxide emission, and efficient fuel consumption.
By technology, it is categorized into expansion, corrugation, molding, extrusion, and others. The expansion segment dominates the market and is projected to remain dominant throughout the forecast period owing to ease in cutting and stacking of honeycomb sandwich material Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and Africa). U.S., China, and India are the top investment regions for honeycomb sandwich material market growth owing to growth in the aerospace & defense industry.
The key players operating in the honeycomb sandwich material market are Benecor Inc., Encore N.V., Encocam Ltd., Hexcel Corporation, Honeylite, Foshan Liming, Pacific Panels, Samia, Gill Corporation, and Schweiter Technologies. The players in the market have adopted several strategies to sustain the market competition such as collaboration, joint venture, partnership, and new product launch.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
By Material type
By Application
By Technology
By Region
Key Players
Honeycomb sandwich is a structure with three layers, in which a low-density core is inserted between two relatively thin layers for enhancing its mechanical properties and reducing its weight. High strength, stiffness, corrosive resistance, minimum raw material requirement in manufacturing are some of the characteristics of high temperature honeycomb structures.
The key factors driving the growth of the honeycomb sandwich material market include increase in production of various aircrafts and growth in the space industry across the world. Honeycomb sandwich materials are widely used in the aircraft and space industries, as these provide remarkable mechanical properties and are lightweight, thus conserving fuel and reducing the weight of the vehicle. However, capital-intensive nature of market characterized by high cost of production and raw materials is expected to hamper the growth of the honeycomb sandwich material market. Meanwhile, 3D printing of honeycomb panels is anticipated to provide lucrative opportunities to the honeycomb material manufacturers.
The honeycomb sandwich material market is segmented into material type, application, technology, and region. By material type, the market is divided into aluminum, steel, composites, titanium, Inconel, and others. The aluminum segment dominated the market share as it is abundantly available and has low cost. The composite segment is the fastest growing segment owing to its enhanced properties such as high strength, low cost, and easy to mold.
Depending on application, the market is categorized into aerospace, automotive, marine, locomotive, construction, and others. The aerospace segment holds the largest market share due to high stiffness to weight and high strength-to-weight ratio. The automotive segment is anticipated to grow at the fastest pace during the forecast period owing to its superior performance in driving dynamics, vehicle agility, reduced carbon dioxide emission, and efficient fuel consumption.
By technology, it is categorized into expansion, corrugation, molding, extrusion, and others. The expansion segment dominates the market and is projected to remain dominant throughout the forecast period owing to ease in cutting and stacking of honeycomb sandwich material Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and Africa). U.S., China, and India are the top investment regions for honeycomb sandwich material market growth owing to growth in the aerospace & defense industry.
The key players operating in the honeycomb sandwich material market are Benecor Inc., Encore N.V., Encocam Ltd., Hexcel Corporation, Honeylite, Foshan Liming, Pacific Panels, Samia, Gill Corporation, and Schweiter Technologies. The players in the market have adopted several strategies to sustain the market competition such as collaboration, joint venture, partnership, and new product launch.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides extensive qualitative and quantitative analysis of the current trends and future estimations of the honeycomb sandwich material market from 2019 to 2027 to determine the prevailing opportunities.
- Comprehensive analysis of factors that drive and restrict honeycomb sandwich material market growth is provided.
- The honeycomb sandwich material market forecast and estimations are based on factors impacting market growth, in terms of value.
- Profiles of leading players operating in the honeycomb sandwich material market are provided to understand the global competitive scenario.
- The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable honeycomb sandwich material market share.
- The honeycomb sandwich material market size is provided in terms of revenue
- The report provides an in-depth analysis of the forecast along with the current and future honeycomb sandwich material market trends
KEY MARKET SEGMENTS
By Material type
- Aluminum
- Steel
- Composites
- Titanium
- Inconel
- Others
- Biofuel
By Application
- Aerospace
- Automotive
- Marine
- Locomotive
- Construction
- Others
By Technology
- Expansion
- Corrugation
- Molding
- Extrusion
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Saudi Arabia
- Rest of LAMEA
Key Players
- Benecor Inc.
- Encore N.V.
- Encocam Ltd.
- Hexcel Corporation
- Honeylite
- Foshan Liming
- Pacific Panels
- Samia
- Gill Corporation
- Schweiter Technologies
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Landscape
Chapter 4: Honeycomb Sandwich Material Market, by Material Type
Chapter 5: Honeycomb Sandwich Material Market, by Application
Chapter 6: Honeycomb Sandwich Material Market, by Technology
Chapter 7: Honeycomb Sandwich Material Market, by Region
Chapter 8: Competitive Landscape
Chapter 9: Company Profiles:
Executive Summary
According to the report titled, 'Honeycomb sandwich material Market by Type, and End-Use Industry: Opportunity Analysis and Industry Forecast, 2019-2026', the Global Honeycomb sandwich material market was valued at $1.3 billion in 2019 and is anticipated to generate $2.1 billion by 2027. The market is projected to experience growth at a CAGR of 6.2% from 2020 to 2027.Honeycomb sandwich is a structure with three layers, which offers high strength, stiffness, corrosive resistance, minimum raw material requirement.
Increase in space and aviation activities across the world drives the market growth. These materials are widely used in the construction, automotive, and marine industries, as these provide remarkable mechanical properties and are lightweight, thus conserving fuel and reducing the weight of the marine vehicle. However, capital-intensive nature due to high cost of production and raw materials hampers the growth of the honeycomb sandwich material market. Meanwhile, 3D printing of honeycomb panels is expected to provide lucrative opportunities to the honeycomb material manufacturers.
The honeycomb sandwich material market is segmented into material type, application, technology, and region. By material type, the aluminum segment dominated the market share amongst aluminum, steel, composite, titanium, Inconel, and others. The composite segment is the fastest growing segment. On basis of application, the aerospace segment holds the largest market share amongst aerospace, automotive, marine, locomotive, construction, and others. The automotive segment is anticipated to grow at the fastest pace during the forecast period. By technology, the expansion segment dominates the market and is projected to remain dominant throughout the forecast period. Region wise, North America dominated the market share. However, Asia-Pacific is expected to be fastest growing during the forecast period.
The key players operating in the honeycomb sandwich material market are Benecor Inc., Encore N.V., Encocam Ltd., Hexcel Corporation, Honeylite, Foshan Liming, Pacific Panels, Samia, Gill Corporation, and Schweiter Technologies. The players in the market have adopted several strategies to sustain the market competition such as collaboration, joint venture, partnership, and new product launch.
Key findings of the study
Global honeycomb sandwich material market size is provided in terms of revenue
By region, India is projected to grow at the highest CAGR of approximately 7.8%, in terms of revenue, during the forecast period.
By application, the automotive segment is anticipated to grow with CAGR 6.8%, in terms of revenue, during the forecast period.
By region, the U.S. and Germany dominated the market with a revenue share of over 26.5% and 6.8% respectively in 2019.
A comprehensive analysis of the factors that drive and restrain the honeycomb sandwich material market growth is provided
The qualitative data in this report aims at the honeycomb sandwich material market trends, dynamics, and developments in the honeycomb sandwich material industry
The honeycomb sandwich material market forecast and estimations are based on factors impacting the market growth
Companies Mentioned
- Benecor Inc.
- Encore N.V.
- Encocam Ltd.
- Hexcel Corporation
- Honeylite
- Foshan Liming
- Pacific Panels
- Samia
- Gill Corporation
- Schweiter Technologie
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
LOADING...
