According to the latest report by IMARC Group, titled “Honeycomb Sandwich Material Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global honeycomb sandwich material market reached a value of US$ 1.6 Billion in 2021. Honeycomb sandwich refers to structures used in aircraft flight control surfaces, such as rudder, aileron, spoiler, and flap. It is manufactured using three layers wherein a low-density core is inserted between two relatively thin layers to enhance its mechanical properties and reduce its weight. Steel, aluminum, titanium, Inconel, and composites are some of the common honeycomb sandwich materials. They are lightweight and exhibit high strength, stiffness, corrosive resistance, and strong energy absorption properties, thus improving fuel efficiency.
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.
Global Honeycomb Sandwich Material Market Trends-
The widespread product adoption in the aerospace, aviation, and defense industries due to its remarkable mechanical properties and light weight is creating a positive outlook for the market. Honeycomb materials are widely used for conserving fuel and reducing vehicular weight in these applications. Apart from this, the rising demand for durable and environment-friendly packaging solutions is providing an impetus to the market growth. Additionally, several manufacturers are developing composite sandwich panels for interior structures that offer low fire progression and reduced smoke or toxic gas emission, which, in turn, is propelling the market growth. Moreover, the increase in the production of various aircraft models, a surge in use of high-temperature honeycomb sandwich in the aircraft industry, and significant expansion in the aerospace industry are acting as other growth-inducing factors. Besides this, the increasing utilization of three dimensional (3D) printing solutions to manufacture honeycomb panels and extensive research and development (R&D) activities are anticipated to drive the market toward growth. On account of the aforementioned factors, the market value is expected to reach US$ 2.1 Billion by 2027, exhibiting a CAGR of 4.3% during 2022-2027.
- On the basis of the material type, the market has been classified into aluminum, steel, composites, titanium, Inconel, and others.
- Based on technology, the market has been divided into expansion, corrugation, molding, extrusion, and others.
- On the basis of the application, the market has been divided in aerospace, automotive, marine, locomotive, construction, and others.
- On region basis, the market has been categorized into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and Others) Latin America (Brazil, Mexico and Others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined, with some of the key players being 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., Schütz GmbH & Co. KGaA and The Gill Corporation.
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