Aramid Honeycomb Core Materials Market Worth $338 Million by 2025 - Exclusive Report by MarketsandMarkets™

Aramid Honeycomb Core Materials Market Worth $338 Million by 2025 - Exclusive Report by MarketsandMarkets™

PR Newswire

CHICAGO, June 17, 2020

CHICAGO, June 17, 2020 /PRNewswire/ -- According to the new market research report "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", published by MarketsandMarkets™, the global Aramid Honeycomb Core Materials Market size in the transportation industry is projected to grow from USD 210 million in 2020 to USD 338 million by 2025, at a CAGR of 10.0% during the forecast period. The market is growing due to the increase in the demand for high-performance materials, with properties such as low weight, high strength-to-weight ratio, good tensile strength, and electrical conductivity.

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Browse in-depth TOC on "Aramid Honeycomb Core Materials Market"

99 – Market Data Tables
48 – Figures 
165 – Pages

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Nomex comprises a major share of the aramid honeycomb core materials market in the transportation industry

The transportation industry has embraced Nomex honeycomb core for more than 30 years owing to its excellent strength-to-weight ratio, cost-effective benefits such as energy savings and payload increase. The stiff and thin Nomex sheet structures are used to make strong yet lightweight honeycomb sandwich composite panels. These panels are used in aircraft parts such as flooring panels, interior walls, storage bins, exterior control surfaces, engine nacelles, helicopter blades, and tail booms. Nomex honeycomb composites are also used in the construction of boats to help provide buoyancy that enhances speed. The COVID-19 outbreak has resulted in the disruption in the supply chain, resulting in reduced demand for Nomex from the transportation industry.

Meta-aramid honeycomb core materials accounted for the largest share in the global aramid honeycomb core materials market in the transportation industry in terms of value and volume.

Meta-aramid honeycomb core materials are highly resistant to temperature, chemical degradation, and abrasion. It is usually manufactured by wet spinning, resulting in a semi-crystalline fiber. These materials can withstand tensile stress during exposure to flames and temperatures up to 7520F. Thus, the meta-aramid honeycomb core materials are used in aircraft galleys, flooring, partitions, aircraft leading and trailing edges, missile wings, radomes, antennas, military shelters, fuel tanks, helicopter rotor blades, rail panels, racing car bodies, and navy bulkhead joiner panels. With the outbreak of COVID-19, there is a reduced demand for aramid honeycomb core materials in the transportation industry. This has forced the meta-aramid honeycomb core materials manufacturers to operate at partial or zero capacities.

Exterior application accounted for the largest share in the global aramid honeycomb core materials market in the transportation industry in terms of value and volume.

Exterior structures of aircraft built with aramid honeycomb core materials include landing gears, leading and trailing edges, engine nacelles, undercarriage, fuselage, and wings. The aramid honeycomb core materials are also used in exterior applications of the marine industry, such as boat hulls, stateroom for boats, deck, cargo lining, shells, hatches, and navy bulkhead joiner panels. They are also used in car bodies, chassis, truck, and train panels. The reduced demand for composites from the transportation industry due to COVID-19 has resulted in a decline in the need for aramid honeycomb core materials for exterior application, particularly in the aerospace industry.

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Airways to account for the largest share, in terms of value, in the global aramid honeycomb core materials market in the transportation industry during the forecast period.

Aramid honeycomb cores are extensively used as sandwich structures in interior and exterior applications of aircraft. The low weight, combined with high tensile strength of aramid honeycomb core, increases the fuel efficiency, reduces maintenance costs, and allows OEMs to comply with the stringent environment regulations stipulated in Europe and North America. The aramid honeycomb core is primarily used in commercial and military aircraft. The major exterior applications include engine nacelles, landing gears, rotor blades, leading and trailing edges, and wings. The interior applications include flooring, lavatories, and cabin panels.

The outbreak of COVID-19 has resulted in the suspension of manufacturing plants of major aircraft manufacturers, resulting in decreased deliveries of aircraft. Also, technical issues related to Boeing737 MAX and end of the A380 program by 2021, is expected to reduce the demand for aramid honeycomb core materials in the transportation industry in Europe and North America.

North America is expected to account for the largest share in the aramid honeycomb core materials market in the transportation industry during the forecast period.

North America accounted for the largest share owing to the high demand for aramid honeycomb core materials in commercial aircraft, such as 787, 777X, and 737 MAX. These aircraft use a significant amount of composites and aramid honeycomb core materials for their airframe structures, engine nacelles, and landing gears. Besides this, there is a high demand for aramid honeycomb core materials in waterways from cruise ships and power boats.

Airways and waterways in North America are both affected by the COVID-19, resulting in a decrease in the number of aircraft deliveries and ship orders in the region.

The key players in the market include 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). These companies are involved in adopting various inorganic and organic strategies to increase their foothold in the aramid honeycomb core materials market in the transportation industry.

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COVID-19 Impact on Composites Market by Fiber Type (Glass Fiber, Carbon Fiber and Natural Fiber), Resin (Thermoset Resin and Thermoplastic Resin), End-use Industry and Region - Global Forecast to 2021

https://www.marketsandmarkets.com/Market-Reports/covid-19-impact-on-composite-market-175185951.html 

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