What is the current Honeycomb Core Materials Market size?

The Honeycomb Core Materials Market is projected to register a CAGR of greater than 9% during the forecast period (2024-2029) Read More

Who are the key players in Honeycomb Core Materials Market?

ThermHex Waben GmbH, Hexcel Corporation, Honicel, EURO-COMPOSITES and Packaging Corporation of America are the major companies operating in the Honeycomb Core Materials Market. Read More

Which is the fastest growing region in Honeycomb Core Materials Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Honeycomb Core Materials Market?

In 2024, the North America accounts for the largest market share in Honeycomb Core Materials Market. Read More

What years does this Honeycomb Core Materials Market cover?

The report covers the Honeycomb Core Materials Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Honeycomb Core Materials Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Honeycomb Core Materials Market Trends

Statistics for the 2023 & 2024 Honeycomb Core Materials market trends, created by Mordor Intelligence™ Industry Reports. Honeycomb Core Materials trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of Honeycomb Core Materials Industry

This section covers the major market trends shaping the Honeycomb Core Materials Market according to our research experts:

Aerospace Sector to Dominate the Market

Aerospace is expected to be the largest market for honeycomb core materials during the forecast period, owing to the high demand for lightweight materials in the aerospace sector.
Core materials played a significant role in weight reduction in both structural applications and components in aircraft.
The aerospace industry is growing, as many countries have increased investments in new technologies. According to Boeing, the demand for new aircraft is expected to reach more than 40,000 by 2036.
In 2021, Boeing trailed European rival Airbus in new aircraft deliveries, but sales recovered after two disastrous years caused by the 737 Max crashes and the epidemic. Boeing also announced that it delivered 38 commercial planes in December and 340 in total for 2021, nearly doubling the number delivered in 2020.
The global aerospace deal activity volumes are rising, and a greater growth rate is expected. As the sector is growing, the demand for honeycomb core materials is also expected to grow during the forecast period.
Owing to all these factors, the aerospace sector is expected to dominate the honeycomb core materials market during the forecast period.

Honeycomb Core Materials Market, Volume (%), by End-user Industry, Global, 2021

Understand The Key Trends Shaping This Market

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Asia-Pacific Region to Dominate the Market

The surging demand for honeycomb core materials from the Asia-Pacific region is mainly due to the developing countries in the region, such as China, India, and South Korea.
According to the Association of Asia-Pacific Airlines (AAPA), the region's airlines carry approximately 1,486 million passengers and 22 million metric tons of cargo, which is almost one-third of the global passenger traffic and two-fifths of the world air cargo traffic, correspondingly, thus playing a leading role in the constant development of global aviation.
In addition, passenger traffic is expected to increase up to 40% of the global passenger traffic by 2036.
Furthermore, China has the world's largest shipbuilding sector, with 44.9% of ship tonnage finished and 51% of new orders placed in the first half of 2021, expanding the concerned market.
Thus, the Asia-Pacific region is expected to dominate the honeycomb core materials market during the forecast period.