Honeycomb sandwich is a structure with three layers, in which a low density core is inserted between two relatively thin layers for enhancing its mechanical properties and reducing its weight. High strength, stiffness, corrosive resistance, minimum raw material requirement in manufacturing are some of the characteristics of honeycomb structures.
The market for honeycomb sandwich material market is expected to reach $760.1 million by the year 2022, registering a CAGR of 10.0% during the forecast period. The key factors driving the honeycomb sandwich material market include increase in production of various aircrafts and growth in the space industry across the world. Honeycomb sandwich materials are widely used in the aircraft and space industries, as these provide remarkable mechanical properties and are lightweight, thus conserving fuel and reducing the weight of the vehicle. According to the Boeing Company and Airbus Group, it is expected that 1,686 units of aircraft would be delivered worldwide by 2025. However, capital-intensive characteristics due to its high cost of production and raw materials may restrain the growth of the honeycomb sandwich market.
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This report segments the honeycomb material market on the basis of type, application, technology, and geography. On the basis of type, the honeycomb market is segmented into aluminum, stainless steel, titanium, Inconel, and others. The aluminum honeycomb segment is expected to grow at a prominent CAGR of 10.2% during 2016-2022, due to its low cost as compared to other honeycomb materials. On the basis of application, the honeycomb market can be segmented into aerospace and aircraft, satellites, automobiles, trains and others.
By technology, the honeycomb market is segmented into expansion, corrugation, molding, extrusion and others. However, the extrusion segment is expected to grow at a CAGR of 10.5% during the forecast period. Based on geography, the market can be segmented into North America, Europe, Asia-Pacific, and LAMEA. Among the regions, LAMEA will show the highest growth rate of 12.7% during the forecast period.
The key market players profiled in the report are Hexcel Corporation, Pacific Panels, Inc., COREX-Honeycomb, The Gill Corporation, 3A Composites Holding AG, EconCore, Samia Canada, Inc., Liming Honeycomb Composites Co., Ltd., Guangzhou Aloya Renoxbell Aluminum Co., Ltd., Benecor, Inc., and 3M Company.
HONEYCOMB SANDWICH MATERIAL MARKET KEY BENEFITS FOR STAKEHOLDERS:
- The report includes extensive analysis of the factors driving as well as restraining the honeycomb market.
- This report provides a detailed analysis of the current market trends and future estimations for 20152022, to assists in identifying the prevailing market opportunities.
- This report provides the quantitative as well as qualitative market trends to help stakeholders in understanding the market scenario.
- An in-depth analysis of various segments is likely to provide a detailed understanding of the current trends to formulate effective development strategies.
- SWOT analysis enables the study of the internal environment of the leading companiesfor effective strategy formulation.
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HONEYCOMB SANDWICH MATERIAL MARKET KEY SEGMENTS:
The market for honeycomb sandwich materials is segmented:
- Stainless Steel
- Aerospace & Aircraft
- North America
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