Paper Honeycomb Market Report 2021 (COVID-19 Analysis) Worldwide Market Trends, Opportunities and Forecast to 2026

In the recently collated research report by Global Market Insights, Inc., paper honeycomb market size is projected to surpass US$4.8 billion by 2026.

Trend for utility in all kinds of packaging is ramping up paper honeycomb market outlook as demand for safe packaging option continues to soar. Lightweight solution with high strength has gained uptick, while the recycling attribute of paper honeycomb has made it an eco-friendly packaging option.

Notably, honeycomb packaging has gained impetus as a shield, shock absorbent and pallets, with a strong material gaining ground with durability and resistance. Besides, penetration of honeycomb is majorly attribute to impressive demand for saving transportation costs, packaging costs, reducing wastage and boosting durability.

With COVID-19 pandemic having a notable influence across all industries, stakeholders in paper honeycomb market are likely to look for ways to surmount the challenges stemming from the fallout. The outbreak has made manufacturers skeptical, leading to reduction in the manufacturing of paper honeycombs.

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Trends in the automotive sector

With the trend for weight reduction soaring in auto sector for interior applications, including sunshades, trunk load floors and hatchbacks, paper honeycomb will continue to be sought-after in automotive industry.

The honeycomb design has set the trend for it leverages automakers to reduce weight within non-safety applications and provides increased freedom in the design process with tremendous aging and emission properties.

Honeycomb structure has gained impetus in trunk covers, hat racks headliners. Leading companies have come to the fore and have upped their efforts in developing paper honeycomb technology. For instance, BASF and Green & Light rolled out paper honeycomb car trunk floor in February 2019.

Strong demand from electronics to accentuate growth

Expanding penetration of paper honeycomb in electrical and mechanical components has augured well for stakeholders vying to boost their portfolios. It is pertinent to mention that paper honeycomb has high thermal, electrical and insulation properties. Accordingly, demand for paper honeycomb will be noticeable in electronics.

Paper honeycomb will gain traction in end-use industries in light of prevalence of kraft paper and low cash outflow during manufacturing of end-use products.

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Opportunities galore in Europe & North America

With the soaring penetration of paper honeycomb in automotive industry in the U.S., North America is likely to come up as a viable investment hub. North America paper honeycomb market value is witnessing an uptick following the demand for weight reduction in headliners and trunk covers, while keeping the stiffness and strength intact.

Europe paper honeycomb market size is projected to gain a notable uptick against the backdrop of demand for eco-friendly packing material. Europe is likely to be a lucrative destination as the region continues to witness impressive demand for lightweight, durable and cost-effective packaging solution.

Potential restraints

While honeycomb paperboard is environmentally friendly, its fragile peeling and folding resistance has posed challenge to stakeholders in the landscape.

Paper honeycomb in automotive industry will be sought-after to produce car components with high strength and significantly low weight. Tremendous thermal insulation and compressive strength have helped paper honeycomb market value gain prominence in the global scale.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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This release was published on openPR.