Honeycomb Sandwich Panels Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | < 10.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Honeycomb Sandwich Panels Market Analysis
The market for honeycomb sandwich panels is expected to grow at a CAGR of less than 10% during the forecast period. Major factors driving the market studied are increasing demand for lightweight materials in aircraft manufacturing, growing demand for reducing weight in rail vehicles.
- The higher cost of the products is expected to hinder the market.
- Asia-Pacific dominated the market across the globe with the largest consumption in country such as China, India, etc.
Honeycomb Sandwich Panels Market Trends
This section covers the major market trends shaping the Honeycomb Sandwich Panels Market according to our research experts:
Healthy Demand from Aerospace and Defense
- Aerospace & defense is expected to be the largest market for the honeycomb sandwich panels during to forecast period, owing to the high demand for lightweight materials.
- Honeycomb sandwich panels played a major role in the reduction of in both structural applications and components in aircraft.
- The global aerospace industry is growing at a higher rate. Additionally, many countries have increased their investments in new technologies.
- The aerospace industry is growing at a steady rate, with the global aircraft fleet expected to grow by 3.4% (as shown in the following graph) and the air traffic to grow by around 4.6% between 2019 and 2038, according to the estimates provided by Boeing. Asia-Pacific and Middle East & Africa are expected to witness rapid expansion in the aviation sector, owing to the rising consumer incomes and investments in transportation infrastructure, in the near future.
- As the sector is growing, the demand for honeycomb sandwich panels is expected to grow during the forecast period.
North America to Dominate the Market
- North America holds the highest market share for honeycomb sandwich panels in 2017. The demand is mainly due to the growing end-user industries in the region, such as aerospace & defense, and construction.
- The United States aerospace sector is the largest in the world and according to the Federal Aviation Administration (FAA), the total commercial aircraft fleet is expected to reach more than 8,000 in 2038, owing to the growth in air cargo.
- Furthermore, the huge sized construction industry is also instrumental in creating a significant demand for silicate coatings in the United States. The U.S. construction industry is among the world's largest, with annual expenditures of over USD 1,294 billion in 2018.The construction industry has shown steady growth over 2019 and this is projected to continue at a rate of 4.5% through 2020.
- The booming manufacturing of commercial and passenger aircraft along with the consistently growing exports of aircraft, construction industry, among others is expected to boost the demand for honeycomb sandwich panels during the forecast period.
Honeycomb Sandwich Panels Industry Overview
The honeycomb sandwich panels market is fragmented. Some of the major players include Hexcel Corporation, The Gill Corporation, Corex Honeycomb, EconCore, and Liming Honeycomb Composites Co., Ltd., among others.
Honeycomb Sandwich Panels Market Leaders
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Hexcel Corporation
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The Gill Corporation
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Corex Honeycomb
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EconCore
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Liming Honeycomb Composites Co., Ltd.
*Disclaimer: Major Players sorted in no particular order
Honeycomb Sandwich Panels Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Drivers
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4.1.1 Increasing Demand for Lightweight Materials in aircraft Manufacturing
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4.1.2 Growing Demand for Reducing Weight in Rail Vehicles
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4.2 Restraints
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4.2.1 Higher Cost of the Products
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4.2.2 Impact of COVID-19 Pandemic
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4.3 Industry Value-Chain Analysis
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4.4 Porter's Five Forces Analysis
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4.4.1 Bargaining Power of Suppliers
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4.4.2 Bargaining Power of Consumers
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4.4.3 Threat of New Entrants
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4.4.4 Threat of Substitute Products and Services
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4.4.5 Degree of Competition
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5. MARKET SEGMENTATION
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5.1 Core Type
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5.1.1 Aluminum
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5.1.2 Aramid
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5.1.3 Thermoplastic
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5.1.4 Other Core Types
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5.2 End-user Industry
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5.2.1 Aerospace and Defense
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5.2.2 Automotive
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5.2.3 Construction
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5.2.4 Marine
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5.2.5 Other End-user Industries
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5.3 Geography
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5.3.1 Asia-Pacific
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5.3.1.1 China
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5.3.1.2 India
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5.3.1.3 Japan
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5.3.1.4 South Korea
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5.3.1.5 Rest of Asia-Pacific
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5.3.2 North America
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5.3.2.1 United States
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5.3.2.2 Canada
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5.3.2.3 Mexico
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5.3.3 Europe
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5.3.3.1 Germany
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5.3.3.2 United Kingdom
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5.3.3.3 Italy
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5.3.3.4 France
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5.3.3.5 Rest of Europe
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5.3.4 South America
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5.3.4.1 Brazil
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5.3.4.2 Argentina
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5.3.4.3 Rest of South America
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5.3.5 Middle-East and Africa
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5.3.5.1 Saudi Arabia
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5.3.5.2 South Africa
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5.3.5.3 Rest of Middle-East and Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Market Share Analysis**
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6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
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6.4.1 Alucoil
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6.4.2 B.S. Innovation
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6.4.3 Corex Honeycomb
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6.4.4 EconCore
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6.4.5 General Veneer Manufacturing Co.
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6.4.6 Hexcel Corporation
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6.4.7 Honylite
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6.4.8 Liming Honeycomb Composites Co., Ltd.
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6.4.9 Pacfic Panels
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6.4.10 The Gill Corporation
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Honeycomb Sandwich Panels Industry Segmentation
The honeycomb sandwich panels market report includes:
| Core Type | |
| Aluminum | |
| Aramid | |
| Thermoplastic | |
| Other Core Types |
| End-user Industry | |
| Aerospace and Defense | |
| Automotive | |
| Construction | |
| Marine | |
| Other End-user Industries |
| Geography | |||||||
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Honeycomb Sandwich Panels Market Research FAQs
What is the current Honeycomb Sandwich Panels Market size?
The Honeycomb Sandwich Panels Market is projected to register a CAGR of less than 10% during the forecast period (2024-2029)
Who are the key players in Honeycomb Sandwich Panels Market?
Hexcel Corporation, The Gill Corporation, Corex Honeycomb, EconCore and Liming Honeycomb Composites Co., Ltd. are the major companies operating in the Honeycomb Sandwich Panels Market.
Which is the fastest growing region in Honeycomb Sandwich Panels Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Honeycomb Sandwich Panels Market?
In 2024, the North America accounts for the largest market share in Honeycomb Sandwich Panels Market.
What years does this Honeycomb Sandwich Panels Market cover?
The report covers the Honeycomb Sandwich Panels Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Honeycomb Sandwich Panels Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Honeycomb Sandwich Panels Industry Report
Statistics for the 2024 Honeycomb Sandwich Panels market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Honeycomb Sandwich Panels analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
