Global Honeycomb Core Materials Market 2018-2022
About Honeycomb Core Materials
Honeycomb core materials are commonly used in the aerospace and defense industries. A honeycomb core consists of identical hexagon-shaped cells. Based on type, these core materials are classified into aluminum, aramid, thermoplastic, fiberglass, carbon, and other metallic cores. The honeycomb core materials are lightweight and exhibit excellent strength, stiffness, compression, and shear strength.
Technavio’s analysts forecast the global honeycomb core materials market to grow at a CAGR of 7.96% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global honeycomb core materials market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of honeycomb core materials.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Honeycomb Core Materials Market 2018-2022
Technavio recognizes the following companies as the key players in the global honeycomb core materials market: Argosy International, Carbon -Core, EconCore, EURO -COMPOSITES, Hexcel Corporation, and Plascore
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is green bonds fueling demand for honeycomb core materials. The proceeds of green bonds are reserved for environmental projects. In July 2017, the Korea Development Bank issued a green corporate bond for renewable energy projects worth $300 million. The National Bank of Australia issued a green bond for seventeen wind and solar farms. These green bonds have led to an increase in the number of wind turbine installations. Green bonds can be easily liquefied, and thus companies are keen on acquiring such bonds.”
According to the report, one of the major drivers for this market is Growth and development of shipping industry. Maritime transport is crucial to the global economy. Sea transportation is cost-effective and accounts for more than 90% of the global trade. In 2015, the World Trade Organization (WTO) estimated that seaborne freight accounted for more than 30% of the world transport.
Further, the report states that one of the major factors hindering the growth of this market is Slow adoption in emerging applications. Despite the increasing focus on energy savings, there is widespread ignorance about the benefits of honeycomb core materials. Currently, honeycomb core materials are used extensively in the high performance automotive, aerospace, and defense sectors. The commercial use of honeycomb core materials in industrial applications is still limited to a small number of industries. The open cell structures of honeycomb core materials absorb moisture, thereby reducing the lifespan and degradability.
Argosy International, Carbon -Core, EconCore, EURO -COMPOSITES, Hexcel Corporation, and Plascore