The global aramid honeycomb core materials market in the transportation industry size is projected to grow from USD 210 million in 2020 to USD 338 million by 2025, at a CAGR of 10.0%
NEW YORK, June 30, 2020 /PRNewswire/ --
The aramid honeycomb core materials market in the transportation industry is projected to register a CAGR of 10.0% during the forecast period.
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The global aramid honeycomb core materials market in the transportation industry size is projected to grow from USD 210 million in 2020 to USD 338 million by 2025, at a CAGR of 10.0% during the same period. 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.
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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.
This study has been validated through primaries conducted with various industry experts, globally. These primary sources have been divided into the following three categories:
• By Company Type- Tier 1- 40%, Tier 2- 33%, and Tier 3- 27%
• By Designation- C Level- 50%, Director Level- 20%, and Others- 30%
• By Region- North America- 20%, Europe- 50%, APAC- 15%, Latin America-5%, MEA-10%,
The report provides a comprehensive analysis of company profiles listed below:
• Hexcel Corporation (US)
• Toray Industries, Inc. (Japan)
• Plascore, Inc. (US)
• The Gill Corporation (US)
• Euro-Composites S.A. (Luxembourg)
• Argosy International, Inc. (US)
• Showa Aircraft Industry Co., Ltd. (Japan)
• Schütz GmbH & Co. KGaA (Germany)
• Advanced Honey technologies (US)
• Aramicore Composites Co. Ltd. (China)
Research Coverage
This report covers the global aramid honeycomb core materials market in the transportation industry and forecasts the market size until 2025.The report includes the market segmentation – Type (Nomex, Others), Aramid Type (Meta and Para), Application (Interior and Exterior), Transportation Type (Airways, Railways, Waterways, and Roadways) and Region (Europe, North America, APAC, Latin America, and MEA).
Porter's Five Forces analysis, along with the drivers, restraints, opportunities, and challenges, are discussed in the report. It also provides company profiles and competitive strategies adopted by the major players in the global aramid honeycomb core materials in the transportation industry.
Key benefits of buying the report:
The report will help market leaders/new entrants in this market in the following ways:
1. This report segments the global aramid honeycomb core materials market in the transportation industry comprehensively. It provides the closest approximations of the revenues for the overall market and the sub-segments across different verticals and regions.
2. The report helps stakeholders understand the pulse of the aramid honeycomb core materials in the transportation industry and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand competitors better and gain more insights to better their position in their businesses. The competitive landscape section includes the competitor ecosystem and expansion.
Reasons to buy the report:
The report will help market leaders/new entrants in this market by providing them with the closest approximations of the revenues for the overall aramid honeycomb core materials market in the transportation industry and the sub-segments.It will help stakeholders to understand the competitive landscape and gain more insights to position their businesses and market strategies in a better way.
The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, opportunities, and challenges.
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