PUNE, India, December 12, 2017 /PRNewswire/ --
The report "Honeycomb Core Materials Market by Type (Paper, Aluminum, Thermoplastic, Nomex), Application (Composites, Non-composites), End-use Industry (Aerospace & Defense, Packaging, Transportation, Construction & Infrastructure), Region - Global Forecast to 2022" published by MarketsandMarkets™, the market is projected to reach USD 3.21 Billion by 2022 from USD 2.03 Billion in 2017, at a CAGR of 9.5% between 2017 and 2022.
Browse 75 market data Tables and 39 Figures spread through 134 Pages and in-depth TOC on "Honeycomb Core Materials Market"
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Honeycomb core materials are being increasingly used in composite and non-composite applications. Their growing use in non-composite applications, such as construction & infrastructure and packaging is driving the honeycomb core materials market. Additionally, the increasing use of composites and core materials in high-performance applications, such as aircraft, rail, and automotive, is boosting the demand for Nomex and aluminum honeycomb core materials across the globe.
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Based on type, the paper segment of the honeycomb core materials market is projected to grow at the highest CAGR, in terms of value and volume, during the forecast period
Paper honeycombs are increasingly used in furniture, automotive, and packaging production industries. Paper honeycomb core materials are used in the furniture industry as an insert in furniture panels, whereas, in the packaging industry, paper honeycomb cores are used in boxes, spacers, and pallets to protect the household and industrial appliances, equipment, and other fragile and delicate products during transportation.
The packaging end-use industry segment is projected to lead the honeycomb core materials market, in terms of value and volume, during the forecast period
The high demand for sustainable, low-cost, and lightweight products for packaging is driving the honeycomb core materials market. There is an increasing demand for honeycomb core materials in packaging due to the growing e-commerce and manufacturing sectors which rely on the safe transportation of products. This directly drives the honeycomb core materials market as paper honeycomb core materials are used for the protective packaging of goods.
The APAC region is estimated to be the largest market for honeycomb core materials in 2017 in terms of value and volume
The APAC region is estimated to be the largest market for honeycomb core materials in 2017. The growth of the APAC honeycomb core materials market can be attributed to industrial expansion, the presence of well-established manufacturers, and technological advancements in construction, transportation, and packaging sectors in this region.
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Key players operational in the Honeycomb Core Materials Market include Honicel (Netherlands), Euro-Composites (Luxembourg), Argosy International (US), Grigeo (Lithuania), Plascore (US), Tubus Baer GmbH (Germany), Corinth. (Netherlands), Axxion (Netherlands), and Hexcel Corporation (US).
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