IMARC Group, a leading market research company, has released a report titled “Honeycomb Sandwich Material Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. According to the report, The global honeycomb sandwich material market size reached US$ 1.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.1 Billion by 2028, exhibiting a growth rate (CAGR) of 4% during 2023-2028.
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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Honeycomb Sandwich Material Market Trends and Drivers:
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.
Report Segmentation:
The report has segmented the market into the following categories:
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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