Rising demand from Airbus and Boeing, increase in demand for lightweight and excellent strength-to-weight ratio vehicles are some of the main factors propelling the market growth.
Nomex Honeycomb Core Market Size – USD 2.49 Billion in 2019, Growth - CAGR of 9.4%, Trends – Increasing use of recyclable products.
The global Nomex Honeycomb Core Market is forecast to reach USD 4.90 Billion by 2027, according to a new report by Reports and Data. The global Nomex Honeycomb Core market is anticipated to grow at an accelerated pace over the forecasted period owing to rising demand for high strength, lightweight materials across various end-use industries such as automotive, aerospace defense, and construction building industry.
Rising product utilization in the production of honeycomb sandwich structured panels’ is further estimated to boost market growth in the next few years. Honeycomb core sandwich structured panels exhibit tremendous structural strength and compression and have emerged as an effective, lightweight alternative to wood panels, aluminum sheets, and plywood.
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Top Companies: Hexcel Corporation, Honicel, Packaging Corporation of America, Argosy International, Euro-Composites, Grigeo, Dufaylite Developments, Cartoflex, Corinth Group, and Axxion Group among others.
Further Key Finding from the Report Suggestion:
- Among the type segment of the Nomex Honeycomb Core market, Nomex is expected to register the highest CAGR of 9.5% over the forecasted period.
- Nomex Honeycomb Core are durable and strong. They also provide properties such as rigidity and cushioning, thus offering superior protection.
- Among the regional segment of the Nomex Honeycomb Core market, Asia-Pacific is presently leading the market with 57.6% of the global market revenue, and it will continue to dominate with an estimate to register the highest CAGR of 9.4% over the forecasted period.
- The usage of 3D printing for the production of honeycomb panels is expected to act as a key opportunity for the Nomex Honeycomb Core market during the forecast period.
- The absorbance of moisture and water by the honeycomb and the structural limitations of Nomex Honeycomb Core act as a prime restraint to the market growth in the next few years.
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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The global Nomex Honeycomb Core market is segmented into:
Type Outlook (Revenue, USD Million; 2017-2027)
Application Outlook (Revenue, USD Million; 2017-2027)
End-User Outlook (Revenue, USD Million; 2017-2027)
- Aerospace Defense
- Construction and Infrastructure
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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