A honeycomb sandwich is a structure made of three layers, in which a low density core is inserted between two relatively thin layers, giving it superior mechanical properties at minimal weight. It can be used in high-temperature applications, if the suitable material is used in the manufacturing of honeycomb sandwich panels. High strength, stiffness, corrosive resistance, and minimum raw material requirement in the manufacturing are the key advantages of high temperature honeycomb structures. By 2022, the market for high-temperature honeycomb sandwich materials is expected to reach $418.5 million at a CAGR of 9.6% during the forecast period.
High-temperature honeycomb structures are widely used in aircraft and in the space industry as it provides excellent mechanical properties with lightweight nature, thus conserving fuel and shredding weight of the vehicle. The key factors that drive the market include increase in production of aircrafts and growth in the space industry.According to the Boeing Company and Airbus Group, it is expected that by 2025, 1,686 units of aircraft will be delivered worldwide. However, factors such as high cost of raw materials and production are likely restrain the growth of the high-temperature honeycomb sandwich materials market. Opportunities in the high-temperature honeycomb sandwich materials market lie in the growth of LED honeycomb and 3D printing to manufacture honeycomb panels. LED displays use honeycomb panels, allowing it to be lighter while giving more pixel effects. High-temperature honeycomb sandwich panels can be manufactured with the help of 3D printers; however, they are still in the research stage and expect to impact the industry to grow multi-fold once commercialized.
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This report segments the high-temperature honeycomb sandwich materials market on the basis of type, application, technology, and geography. On the basis of type, the high-temperature honeycomb sandwich materials market can be segmented into stainless steel, titanium, inconel, and others. The stainless steel segment is expected to grow at a high CAGR during the period of 2016- 2022. On the basis of application, the market can be segmented into aerospace and aircraft, satellites, automobiles, and others.The others market segment, which include F1 racing cars and FAB manufacturing. On the basis of technology, the market is segmented into expansion and corrugation, where corrugation segment is expected to grow at a high CAGR of 10.0% during the forecast period of 2016-2022. On the basis of geography, the market can be segmented into North America, Europe, Asia-Pacific, and LAMEA. Among the regions, LAMEA is expected to grow at a high CAGR of 12.7% during the forecast period.
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In January 2016, Hexcel Corporation announced to build engineered core plant in Casablanca, Morocco. The prominent players include Benecor, Inc., Indy Honeycomb, Ulbrich Stainless Steels & Special Metals, Inc., EconCore N.V. and so on.
Key Market Benefits
The report includes extensive analysis of the factors driving as well as restraining the high temperature honeycomb market.
The market projections for the period 2015-2022 have been included along with factors affecting the same.
The report also provides quantitative as well as qualitative market trends to help the stakeholders in understanding the situations prevailing in the market.
In-depth analysis of key segments of the market demonstrates stakeholders with different types of high-temperature honeycomb sandwich consumed across different industries on the globe.
SWOT analysis enables to study the internal environment of leading companies for strategy formulation.COVID-19 Impact
The COVID-19 pandemic in 2019 engulfed the world. It caused a worldwide halt. The entire global economy was affected. In addition, many people have also lost their lives. Around 252,297,094 cases and 5,091,465 deaths have been reported worldwide so far for COVID-19. The pandemic spread to almost every country in the world. In most industries, the pandemic resulted in some form of loss. As a result of the pandemic, the Global High-Temperature Honeycomb Sandwich Materials Market also experienced a slowdown. Statista estimates that the chemical industry’s total worldwide revenue stood at approximately US$ 3.94 trillion in 2019. In 2014, the chemical industry generated revenues of US$ 5.4 trillion at a record high.
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The degree of competition among prominent global companies has been developed by analyzing several leading High-Temperature Honeycomb Sandwich Materials Market, including market competition, market share, the most recent advancements in the industry, innovative product launches, partnerships, mergers, and acquisitions by leading companies.
HIGH TEMPERATURE HONEYCOMB SANDWICH MATERIALS MARKET KEY SEGMENTS
The market for high-temperature honeycomb sandwich materials is segmented:
Aerospace & Aircraft
What are the aspects of this report that relate to regional analysis?
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Key questions answered in the global High-Temperature Honeycomb Sandwich Materials Market report are:
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This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
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This report provides both qualitative and quantitative information about the competitive landscape of the market.
Combined with Porter’s Five Forces analysis, it serves as SWOT analysis and competitive landscape analysis.
It provides an in-depth analysis of the market, highlighting its growth rates and opportunities for growth.
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