According to the latest report by IMARC Group “Honeycomb Sandwich Material Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global honeycomb sandwich material market size reached US$ 1.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 2.1 Billion by 2027, exhibiting a CAGR of 4.3% during 2022-2027.
Honeycomb sandwich refers to a structure used in automobiles, space structures, and aircraft flight control surfaces, such as spoiler, aileron, rudder, flap, etc. It comprises of three layers wherein a low-density core is inserted between two relatively thin layers to reduce its weight and enhance its mechanical properties. As these materials offer high strength, corrosive resistance, stiffness, etc., they are extensively utilized across the globe.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends:
The expanding aviation sector, along with the rising investments in satellite manufacturing activities, are primarily driving the honeycomb sandwich material market. Moreover, the expanding applications of honeycomb sandwich materials in the automotive sector account of their favorable mechanical properties and lightweight nature to improve fuel efficiency are also propelling the market growth. Besides this, the rising need for durable and environment-friendly packaging solutions is acting as another significant growth-inducing factor. Additionally, the elevating utilization of 3D printing techniques to manufacture honeycomb panels is further augmenting the global market. Furthermore, several manufacturers are developing composite sandwich panels for interior structures that offer low fire progression and reduced smoke or toxic gas emission properties. This, in turn, are anticipated to catalyze the honeycomb sandwich material market in the coming years.
Breakup by Material Type:
- Aluminum
- Steel
- Composites
- Titanium
- Inconel
- Others
Breakup by Technology:
- Expansion
- Corrugation
- Molding
- Extrusion
- Others
Breakup by Application:
- Aerospace
- Automotive
- Marine
- Locomotive
- Construction
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- 3M Company
- B.S. Innovation
- Corex Honeycomb (Encocam Ltd)
- EconCore N.V.
- General Veneer Manufacturing Co.
- Hexcel Corporation
- Honylite Private Limited
- Pacific Panels Inc.
- Samia Canada Inc.
- Schutz GmbH & Co. KGaA
- The Gill Corporation.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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