NEW YORK, April 26, 2016 /PRNewswire/ -- The global Nomex honeycomb market is projected to grow from USD 237.1 million in 2015 to USD 383.3 million by 2021, at a compound annual growth rate (CAGR) of 8.51% between 2016 and 2021. This high growth is attributed to increasing use of Nomex honeycomb in the aerospace & defense application. Nomex honeycomb provides additional strength to the components.
"Aerospace & defense application holds the largest market share in Nomex honeycomb market"
The aerospace & defense application accounts for the largest share of the Nomex honeycomb market. Nomex honeycomb are lightweight and provide additional strength to components and are, hence, suitable for use in aerospace & defense application. Composite structures are designed to survive extreme operating conditions such as high stress, shock and impact loads. These requirements of complex aerospace structures are fulfilled by Nomex honeycomb. Nomex honeycomb also provide the advantages of negligible maintaining costs as they are corrosion resistant, thus saving maintenance costs and increasing average lifespan.
"North America projected to be the fastest-growing Nomex honeycomb market"
North America dominated the Nomex honeycomb market followed by Europe. North America has some of the major aerospace & defense component and part manufacturing companies that use Nomex honeycomb as their core material. The U.S is expected to have the largest market share in the North American region due to its growing aerospace and defense industry in the region.
In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted as follows:
- By Company Type: Tier 1 (70%), Tier 2 (25%) and Tier 3 (5%).
- By Designation: C-level (31%), Director Level (23%) and others (46%)
- By Region: North America (65%), Europe (24%), APAC (9%), and RoW (2%).
Nomex honeycomb are finding its usage in emerging applications such as sporting goods, electricals. It is used as core materials in skis, snowboards, heating, air conditioning, and ventilation equipment.
The various key players profiled in the report are as follows:
1. Hexcel Corporation (U.S)
2. Royal Ten Cate N.V (Netherlands)
3. Euro-Composites (Luxembourg)
4. Plascore Inc. (U.S)
5. The Gill Corporation (U.S)
6. Advanced Honeycomb Technologies (U.S)
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the Nomex honeycomb market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the sub-segments across different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand the competitor and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers & acquisitions.
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