Honeycomb Core Materials Market : Prominent Leaders and Recent Developments

The honeycomb core materials market is projected to reach USD 3.21 Billion by 2022, at a CAGR of 9.5% between 2017 and 2022. The increasing demand for lightweight, high strength, and recyclable packaging solutions is driving the growth of the honeycomb core materials market across the globe.

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Based on type, the honeycomb core materials market has been classified into paper, aluminum, Nomex, thermoplastic, and others. The paper segment is expected to lead the honeycomb core materials market in terms of volume, during the forecast period. Nomex honeycombs are also increasingly used in aerospace & defense, transportation, sporting goods, and other applications. The Nomex aerospace grade honeycombs are used in cargo linings, helicopter blades, fuselage components, aircraft flooring, radomes, antennas, and so on. They are exceptional core materials for sandwich structures and are efficient energy absorbers, making them ideal for automotive heat shield and other high-temperature applications.

Based on end-use industry, the packaging segment is estimated to lead the honeycomb core materials market in 2017 in terms of value and volume. The growth of this end-use industry segment can be attributed to the increased demand for paper honeycomb core materials to protect household & industrial appliances, equipment, and other fragile & delicate products against external effects during transportation. Honeycomb core materials are not only strong and durable, but they also offer cushioning and rigidity, thus providing superior protection.

The Asia Pacific (APAC) region is the largest market for the honeycomb core materials market in terms of value and volume. The growth of the APAC honeycomb core materials market can be attributed to the increased demand for honeycomb core materials from the region’s developing countries, such as China and India. The growth of the APAC packaging industry is directly driving the honeycomb core materials market. Paper honeycomb is increasingly used in boxes and pallets for the transportation of goods.

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Key players operational in the honeycomb core materials market include Honicel (Netherlands), Euro-Composites (Luxembourg), Argosy International (US), Grigeo (Lithuania), Plascore (US), Tubus Baer GmbH (Germany), Corinth. (Netherlands), Axxion (Netherlands), and Hexcel Corporation (US).

Honicel (Netherlands) is one of the major players in the honeycomb core materials market. The company emphasizes excellence in the creation of consumer-centric products for various end-use industries. It is focused on continuous improvements in its businesses and follows strategic moves to sustain its leading position in the market.

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