Honeycomb Core Material Market Size to Reach US$ 0.7 Billion in 2025, Says Stratview Research

Honeycomb Core Material Market Size to Reach US$ 0.7 Billion in 2025, Says Stratview Research

PR Newswire

DETROIT, July 16, 2020

DETROIT, July 16, 2020 /PRNewswire/ -- Stratview Research announces the launch of a new market research report on Honeycomb Core Materials Market By Material Type (Nomex Honeycomb, Kevlar Honeycomb, Aluminum Honeycomb, Thermoplastic Honeycomb, and Others), By End-Use Industry Type (Marine, Ground Transportation, Aerospace & Defense, and Others), and By Region (North America, Europe, Asia-Pacific, and Rest of the World), Size, Share, Trend, Forecast and Competitive Analysis: 2020-2025.

Stratview Research

This 210-page strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today's honeycomb core market realities and future possibilities for the forecast period of 2020 to 2025. The report estimates the short- as well as long-term repercussions of the COVID-19 pandemic on the demand for honeycomb core at the global, regional, as well as country level. Also, the report provides the possible loss that the industry will register by comparing pre-COVID and post-COVID scenario. The vital data/information provided in the report can play a crucial role for market participants as well as investors in formulating short-term as well as long-term growth strategies. 

Honeycomb Core Material Market: Highlights

Honeycomb core has been used for many decades to manufacture composite sandwich structures. It provides stiffness to the structure with minimal weight gain. This core material absorbs the shear forces generated out of planeloads, distributing between the skins, and spreading them over a larger area, while maintaining the skins at a fixed distance. Simultaneously, it provides sound absorption, thermal insulation, electromagnetic shielding, and other benefits.

Among structural core materials, honeycomb core holds distinct market positioning with use in specific applications, demanding lightweight, excellent mechanical performance, and corrosion resistance. Honeycomb cores are fabricated with many hexagon-shaped cells assembled into a honeycomb structure, using various materials, such as paper (Nomex and Kevlar), metal (usually aluminum), thermoplastics (polycarbonate and polypropylene), etc. The selection of honeycomb core materials is dependent on several parameters including application, cost, shape, size, etc. Aerospace & defense is the key demand generator of honeycomb core materials. Other than the aerospace industry, honeycomb cores are majorly used in boat hulls, mass transit interiors, automotive body panels, and sports equipment.

COVID-19 Impact Assessment

The honeycomb core market consecutively grew during 2014-2018 and then registered a decline in 2019, mainly due to the grounding of B737 MAX and the US-China trade war, which severely affected the aerospace and ground transportation industries, respectively. The recent outbreak of COVID-19 pandemic further exacerbated the challenges of several industries including aerospace & defense, ground transportation, and marine.

As a result of that, it is estimated that all the major end-use industries are estimated to log a monstrous decline in 2020 among which aerospace & defense would be the worst-affected industry. The pandemic fueled the existing industry challenges including delays in B737 MAX approval, production halts by aircraft OEMs across regions, and decline in the production rate of key aircraft programs by OEMs.

The honeycomb core market currently represents a small fraction of these mega industries but could not escape from such changing market dynamics and is expected to experience a hefty decline in 2020. The study of previous downturns and primary interviews with market stakeholders and industry experts suggest a quick rebound in the demand for honeycomb core materials from 2021 onwards, ultimately driving the market to reach US$ 0.7 billion in 2025. An expected recovery in commercial aircraft production, B737 MAX's approval from FAA and other bodies, expected entries of COMAC and Irkut, increase in the demand for high-speed and metro trains and rebound in recreational fiberglass boat sales are some of the factors likely to rejuvenate the currently weakened demand.

Click Here and Run Through the Detailed TOC of the Report: https://www.stratviewresearch.com/toc/775/honeycomb-core-materials-market.html

Aerospace & Defense is the Most Dominant End-use Industry

Based on the end-use industry type, aerospace & defense is expected to remain the dominant segment of the honeycomb core market during the forecast period. Expected recovery in commercial aircraft production, expected entries of COMAC and Irkut, B737 MAX's approval from FAA and other bodies, and increasing penetration of lightweight materials are some of the factors driving the demand for honeycomb core in the segment in the foreseen future.

Marine and ground transportation are two other major markets for honeycomb core materials. Both these markets are extremely cost-sensitive and prefer core materials that are lower in cost. Foam core, especially PVC, PET, and SAN, are the most preferred core materials in these industries. Balsa core is also used in these industries.

Nomex Honeycomb is the Dominant Material Type

Based on the material type, the market is segmented into Nomex honeycomb, Kevlar honeycomb, aluminum honeycomb, thermoplastic honeycomb, and others. Nomex honeycomb core is expected to remain the most dominant material type in years to come. Nomex honeycomb offers several advantages including excellent properties (high strength to weight ratio and higher stiffness), thermal resistance, and corrosion resistance. Nomex honeycomb is mostly used in aircraft interior panels, such as floors, overhead stowage bins, galleys, and partitions; automotive interior body panels; and high-performance parts in other industries. In the post-pandemic scenario, Nomex honeycomb and thermoplastic honeycomb are estimated to recover at a faster pace maintaining sequential growth till 2025.

Register Here and Ask for a Free Sample on the Exclusive Report: https://www.stratviewresearch.com/Request-Sample/775/honeycomb-core-materials-market.html

North America will Maintain its Leading Position

The market is registering significant changes in regional dynamics in pre-COVID and post-COVID scenarios. All regions to mark significant declines in honeycomb core demand in 2020. Despite severely hit by the pandemic, among regions, North America is expected to remain the largest market during the forecast period. Europe and Asia-Pacific are the other major markets and are also likely to experience hefty declines in the demand for honeycomb cores in 2020. The Asia-Pacific's market is anticipated to witness the least decline in the demand for honeycomb core materials and is expected to recover at the fastest pace compared to other regions. The region's demand will be driven by a host of factors including an expected increase in the demand for commercial aircraft to support rising passenger traffic, opening of assembly plants of Boeing and Airbus in China, upcoming indigenous commercial and regional aircraft (COMAC C919 and Mitsubishi SpaceJet), increasing automobile production, and increased presence of major global players and raw material suppliers.

The supply chain of this market comprises raw material suppliers, honeycomb core manufacturers, distributors, sandwich panel suppliers, tier players, aircraft and engine OEMs, airlines, aircraft leasing companies, and MRO companies. Key honeycomb core manufacturing companies are Hexcel Corporation, Euro-Composites, The Gill Corporation, Plascore, Toray Advanced Composites, Showa Aircraft Industry Co. Ltd., Argosy International, and AVIC Composite Corporation Ltd. Years of industry experience and high investment in R&D assisted key market participants to gain excellent product development capabilities and high brand identity.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

This report studies the honeycomb core materials market and has segmented the market in three ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the three ways in which the market is segmented:

Honeycomb Core Market, By Material Type

Honeycomb Core Market, By End-Use Industry Type

Honeycomb Core Market, By Region

Stratview Research has several high value market reports in the advanced materials industry. Please refer to the following link to browse through our reports:

https://www.stratviewresearch.com/market-reports/Advanced-Materials.html

About Stratview Research

Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.

We have a strong team of industry veterans and analysts with an extensive experience in executing custom research projects for mid-sized to Fortune 500 companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, Go to Market Strategy, and Voice of Customer studies.

Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making. 

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