Aramid Honeycomb Core Materials in the Transportation Industry 2020-2025 - Government Stimulus Package for the Aerospace Industry Amid the COVID-19 Crisis Driving Growth
DUBLIN, Aug. 21, 2020 /PRNewswire/ -- The "Aramid Honeycomb Core Materials Market in the Transportation Industry by Type (Nomex, Others), Aramid Type (Meta, Para), Application (Interior, Exterior), Transportation Type (Airways, Railways, Waterways, Roadways) and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The Global Aramid Honeycomb Core Materials Market in the Transportation Industry is Projected to Grow from USD 210 Million in 2020 to USD 338 Million By 2025, at a CAGR of 10%.
The aramid honeycomb core materials offer exceptional properties, such as low weight, stiffness, strength, tenacity, density, thermal & electrical conductivity, fatigue, and corrosion resistance. Owing to these outstanding properties, conventional materials, such as aluminum and steel, are preferred less in high-performance applications such as aircraft and ships.
However, the global pandemic disease COVID-19 has forced the aircraft, automobile, and ship manufacturers to shut down their operations, which is expected to decrease the demand for aramid honeycomb core materials in the transportation industry in 2020.
Other types of aramid honeycomb core materials in the transportation industry to be the fastest-growing segment in terms of value.
The aramid honeycomb core materials in the others segment are expected to register faster growth as compared to Nomex due to the comparatively low price of and equivalent performance properties. The Japanese and South Korean companies offering these other aramid honeycomb materials are expected to capture a significant share in the market during the forecast period.
Para-aramid honeycomb core materials market in the transportation industry to be the faster-growing aramid type, in terms of value.
The para-aramid honeycomb core materials are expected to grow faster as compared to meta-aramid honeycomb core materials during the forecast period due to high strength, better performance, and longer life as compared to meta-aramid honeycomb core materials. Thus, the demand for para-aramid honeycomb core materials in aircraft components, such as engine nacelles, rotor blades, landing gear doors, wing boxes, and others, is expected to increase significantly. The high cost, coupled with the outbreak of COVID-19, would reduce the penetration of para-aramid honeycomb core material in the marine, automotive, and rail industries.
Roadways to be the fastest-growing transportation type, in terms of value, in the aramid honeycomb core materials market.
Roadways are expected to be the fastest-growing transportation type. Aramid honeycomb core honeycomb is used in a variety of road applications, including cars, military vehicles, buses, commercial vehicles, and motorsports, including Formula 1 and touring cars. The aramid honeycomb core is applied to interior and body panels, spoilers, floors, and chassis components, among others.
The lightweight capabilities and high strength of the aramid honeycomb core reduce the vehicle weight, fuel consumption, and allow the OEMs to comply with the stringent eco-friendly regulations. Thus, there is a high demand for aramid honeycomb core materials in the automotive and heavy vehicles industry. Further, due to COVID-19, the sentiment of passengers to travel in private cars due to safety reasons would increase the sales of cars, driving the aramid honeycomb core materials market in roadways.
APAC is projected to be the fastest-growing aramid honeycomb core materials in the transportation industry.
APAC is projected to be the fastest-growing aramid honeycomb core materials market during the forecast period. The region comprises countries, such as Japan, China, and India, having significant potential owing to the presence of established raw material suppliers, product manufacturers, and OEMs consuming aramid honeycomb core materials in their end products. There is a high demand for aramid honeycomb core materials from the aerospace and automotive industries in the region. However, COVID-19 has negatively affected the automotive industry in the APAC region. Due to the virus outbreak, car sales in China dropped by 92% in the first half of February. The drop in sales of lightweight cars and electric vehicles is expected to reduce the demand for aramid honeycomb core materials in the region through 2020-2021.
Hexcel Corporation (US), Euro-Composites S.A. (Luxembourg), The Gill Corporation (US), Plascore, Inc. (US), Argosy International, Inc. (US), Showa Aircraft Company Ltd. (Japan), Tasuns Composites Co. Ltd. (China), and Schutz Composite GmbH (Germany) are some of the key players of the aramid honeycomb core materials market. These players have adopted new product development and expansion as the main strategies for enhancing their business revenues and market shares.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Aramid Honeycomb Core Materials Market in the Transportation Industry
4.2 Aramid Honeycomb Core Materials Market in the Transportation Industry, By Transportation Type and Region
4.3 Aramid Honeycomb Core Materials Market in the Transportation Industry, By Type
4.4 Aramid Honeycomb Core Materials Market in the Transportation Industry, By Aramid Type
4.5 Aramid Honeycomb Core Materials Market in the Transportation Industry, By Key Countries
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Government Stimulus Package for the Aerospace Industry Amid the COVID-19 Crisis
5.2.1.2 High Demand From the Transportation Industry
5.2.1.3 Superior Performance Properties Over Other Honeycomb Core Materials
5.2.2 Restraints
5.2.2.1 High Price
5.2.2.2 Decrease in the Number of Aircraft Deliveries
5.2.2.3 Disruption in the Supply Chain and Lower Production Capacity Utilization due to COVID-19 Pandemic
5.2.3 Opportunities
5.2.3.1 Low-Cost Aramid Honeycomb Core Materials From Japanese, Chinese, and South Korean Counterparts
5.2.3.2 Increasing Penetration of Para-Aramid Honeycomb Core in the Aerospace Industry
5.2.4 Challenges
5.2.4.1 Maintenance of Uninterrupted Supply Chain and Operating at Full Production Capacity
5.2.4.2 Liquidity Crunch
5.3 Porter's Five Forces Analysis
6 Macroeconomic Overview and Key Trends in the Aerospace Industry
6.1 Macroeconomic Overview and Key Trends in the Aerospace Industry
6.1.1 Introduction
6.1.2 Trends and Forecast of GDP
6.1.3 Trends in the Aerospace Industry
6.1.3.1 Disruption in the Industry
6.1.3.2 Impact on Customers' Output & Strategies to Resume/Improve Production
6.1.3.3 Impact on Customers' Revenue
6.1.3.4 Most Affected Countries
6.1.3.5 Short-Term Strategies to Manage Cost Structure and Supply Chains
6.1.3.6 New Opportunities
7 Aramid Honeycomb Core Materials Market in the Transportation Industry, By Type
7.1 Introduction
7.2 Nomex
7.3 Others
8 Aramid Honeycomb Core Materials Market in the Transportation Industry, By Aramid Type
8.1 Introduction
8.2 Meta-Aramid
8.3 Para-Aramid
9 Aramid Honeycomb Core Materials Market in the Transportation Industry, By Application
9.1 Introduction
9.2 Interior
9.3 Exterior
10 Aramid Honeycomb Core Materials Market in the Transportation Industry, By Transportation Type
10.1 Introduction
10.2 Airways
10.3 Railways
10.4 Waterways
10.5 Roadways
11 Aramid Honeycomb Core Materials Market in the Transportation Industry, By Region
11.1 Introduction
11.2 North America
11.3 Europe
11.4 APAC
11.5 MEA
11.6 Latin America
12 Competitive Landscape
12.1 Introduction
12.2 Competitive Leadership Mapping
12.2.1 Visionary Leaders
12.2.2 Dynamic Differentiators
12.2.3 Emerging Companies
12.2.4 Innovators
12.3 Market Ranking
12.4 Competitive Scenario
12.4.1 Expansion
13 Company Profiles
13.1 Hexcel Corporation
13.2 Plascore, Inc.
13.3 The Gill Corporation
13.4 Euro-Composites
13.5 ACP Composites, Inc.
13.6 Toray Industries, Inc.
13.7 Argosy International Inc.
13.8 Showa Aircraft Industry Co. Ltd.
13.9 Schutz GmbH & Co. KGaA
13.10 Advanced Honeycomb Technologies
13.11 Aramicore Composites Co. Ltd.
13.12 Honeylite
13.13 Corex Honeycomb
13.14 Tasuns Composite Technology Co. Ltd.
14 Company Profiles for Aramid Fiber Manufacturers
14.1 DuPont de Nemours, Inc.
14.2 China National Bluestar (Group) Co. Ltd.
14.3 Teijin Limited
14.4 Hyosung Corporation
14.5 Huvis
14.6 Taekwang Industrial Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/zc8p04
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