Flexible Honeycomb Core Market - Forecast(2021 - 2026)

Flexible Honeycomb Core Market size is forecast to reach $XX billion by 2025, after growing at a CAGR of 7.89% during 2020-2025. Increased preference of lightweight materials in the aerospace and defense industries around the world drive the demand for honeycomb core materials. Factoring in the use of flexible honey-comb core for building projects, rapid industrialization, increased customer awareness about the advantages of flexible honey-comb core, such as higher strength-to-weight ratios and improved corrosion resistance etc. Further, increases the overall demand over forecast period.

Report Coverage

The “Flexible Honeycomb Core Market report – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Flexible Honeycomb Core Industry. 

By Material: Aluminum, Aramid, Stainless Steel, Thermoplastic, and Other.

By Type: Metal, Plastic 

By Application: Aerospace, Construction, Consumer Goods, Electrical & Electronics, Marine, Pipe & Tank, Transportation, and Others

By Geography: North America, South America, Europe, APAC, and RoW

Aluminum flexible honeycomb core segment has been Flexible Honeycomb Core primary market. A lightweight core material, aluminum honeycomb provides superior strength, corrosion and fire-resistance, energy efficiency, and effective isolation. Aluminum panels honeycomb are structures created by humans who lay a honeycomb between two thin layers to provide tension energy. Aluminum, because of its solid and light weight nature, is the most favored metal for honeycomb construction. In fact, with limited waste content, it can be easily recycled. In many industries including aviation, defense, automotive, marine and building, aluminum honeycomb has been widely accepted.

Aerospace sector has been the primary market for Flexible Honeycomb Core for many years at a CAGR of 7.55%. The demand for high-strength and low-density materials becomes increasingly important with the advancement of aerospace technology. The high launch acceleration and high frequency vibrations mean that a severe mechanical condition and aerodynamic coupling are unavoidable, and therefore the specifications for aero structures are extremely high in strength and rigidity. With its high rigidity and low weight wave materials, advanced technologies of aerospace design are becoming an ever more important element. The global aerospace deal activity volumes are rising, and a greater growth rate is expected in the near future. As the sector is growing, the demand for flexible honeycomb core materials is also expected to grow during the forecast period.

APAC dominated the Flexible Honeycomb Core Market share with more than 52.36%, followed by North America and Europe. In particular developing countries in the region, including China, India and South Korea, are causing increased demand for flexible honeycomb core materials from the Asia-Pacific Region. According to the Asia-Pacific Airlines Association (AAPA), about 1,486 million passengers are flying on the regional airlines and 22 million tons of freight carry, representing nearly a third of global passenger traffic and two quarters of global air freight traffic, thus playing a major role in the constant growth of global aviation. However, up to 40% of global passenger traffic is expected to rise in 2036. According to Korea Aerospace Industries Association (KAIA), in 2018, the total market size of aerospace in Korea is $ 6.73 Billion and it is estimated to reach about $ 7.40 Billion in 2019. As, the Flexible Honeycomb Core is mainly used in the production of aerospace, may act as a growth driver to this region. Hence, the increasing demand for aircraft is expected to drive the demand for flexible honeycomb core materials in the region, during the forecast period.

Applications for Titanium Alloy Honeycomb in medical and orthodontic equipment is propelling overall market growth. One of the major application areas for Titanium Alloy Honeycomb is orthodontic brackets and this product is still remaining a major product for the healthcare industry. Moreover, titanium has biocompatibility and corrosion resistance properties that make it suitable for manufacturing permanent implants. These factors led to the development of Titanium Alloy Honeycomb as a leading manufacturing method for many medical-device OEMs. Challenges – Flexible Honeycomb Core Market.

A significant constraint on the Flexible Honeycomb Core market is considered high production and processing costs. Flexible Honeycomb Core is expensive and can also prove to be a factor that impedes business growth. A quality product can be a major challenge for manufacturers at a fair price. 

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Flexible Honeycomb Core Market. In 2018, the market of Flexible Honeycomb Core has been consolidated by the top five players accounting for xx% of the share. Major players in the Flexible Honeycomb Core Market are AirMetals, Core Molding Technologies, Cytec, Dow, Hexcel, Johns Manville, Magnum Venus, Momentive, Owens Corning, PPG, among others.