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 high temperature honeycomb structures.
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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, the growth of the honeycomb market would be hampered in future, as it is a capital-intensive market due to its high cost of production and raw materials.
3D printing to manufacture honeycomb panels would provide opportunities to the honeycomb material manufacturers. LED displays use honeycomb panels, which makes it lighter and gives better pixel effects. There is ongoing research on manufacturing Honeycomb sandwich panels using 3D printers, which is expected to boost the market upon commercialization.
This report segments the honeycomb material market on the basis of type, application, technology, and geography. On the basis of type, the high-temperature honeycomb market is segmented into aluminum, stainless steel, titanium, Inconel, and others. The aluminum 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 high-temperature honeycomb market can be segmented into aerospace and aircraft, satellites, automobiles, trains and others. The others market segment, which include clean room industry and marine, is expected to grow at a CAGR of 9.2% during 2016‐2022.
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.
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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.
The market of aluminium honeycomb sandwich is driven by few factors such as growing automobile industry and increase in the production of aircrafts. There is a demand for light weight and fuel efficient vehicles. In addition, weight plays a crucial role in the overall efficiency of aircrafts. Because of excellent mechanical properties, aluminium honeycomb has significant opportunities in diverse applications. As per the International Aluminium Institute, in February 2016, a total of 2,115 thousand metric tonnes of aluminium is produced worldwide. North America was the largest producer with 344 thousand metric tonnes. The key market players for aluminium market include Vedanta Resources plc, Dubai Aluminum Co. Ltd., Aluminum Corp. of China Ltd., Norsk Hydro ASA, BHP Billiton Ltd. and United Co. RUSAL among others.
Chapter: 1 INTRODUCTION
1.1 Report description
1.2 Key benefits
1.3 Key market segment
1.4 Research methodology
1.4.1 Secondary research
1.4.2 Primary research
1.4.3 Analyst tools and models
Chapter: 2 EXECUTIVE SUMMARY
2.1 CXO perspective
2.2 Market beyond what to expect by 2026
2.2.1 Moderate growth scenario
2.2.2 Rapid growth scenario
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