Aluminium Honeycomb Board Market to Expand at 6.5% CAGR by 2031
As per industry analysis on the honeycomb board market by Fact.MR, the global Metal Honeycomb Board market is anticipated to be valued at US$ 1.2 Bn in 2021, expanding at a rapid CAGR of 6.5% over the forecast period of 2021-2031.
Fact.MR, market research and competitive intelligence provider, analyses that rising fuel costs and constant push from regulatory bodies over fuel economy have provided an opportunity for lightweight material manufacturers to come up with unique-designed panels, including honeycomb boards.
Honeycomb boards are effectively designed panels that are stronger and lighter than conventional dense metal boards. This has attracted prominent automakers such as BMW, Mercedes Benz, Porsche, and Volkswagen, among others, for product utilization for skins as well as for automotive cores.
Moreover, from a price point of view, honeycomb boards are cost-effective to produce owing to limited raw material utilization coupled with ease of production. This induces demand for aluminium honeycomb boards as a better substitute over other conventional boards sold in the market.
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Has Covid-19 Impacted Aluminium Honeycomb Board Demand?
Decline in research & development activities in 2020 and slowdown observed across the automotive industry shrunk the pace of integration of honeycomb boards in the industry.
On a positive note, rise in e-Commerce activities over the same period revived market growth from a steep downfall, thus stabilizing market growth over the same period.
Competitive landscape
Top manufacturers of honeycomb boards include 3A Composites GmbH, Dupont, Hexcel Corporation, HONECORE, and Corex-Honeycomb. These manufacturers are focussed on launching proprietary technology to ensure smooth growth of their.
Key Restraints
- Volatile raw material prices is expected to act as a challenge for emerging players, affecting the growth in the market negatively
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Report Summary
The study offers comprehensive analysis on diverse features, including grade-wise pricing, revenue growth and list of consumers with consumption quantity, trade analysis, product enhancements, and revenue generation from honeycomb boards across the globe.
A comprehensive estimate on the market has been provided through an optimistic scenario as well as a conservative scenario, taking into account revenue through honeycomb boards during the forecast period.
Analysis on Market Size Evaluation
The market has been analyzed for each market segment in terms of volume (Cu. M), and value (US$ Mn).
Market estimates at global and regional levels for honeycomb boards are available in terms of “US$ Mn”. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a company can look to achieve, along with identifying potential resources, considering the revenue perspective in the global honeycomb board market.
Key Segments of Steel Honeycomb Board Industry Survey
-
Material
- Metal Honeycomb Boards
- Aluminum
- Steel
- Titanium Aluminum
- Others
- Non-metal Honeycomb Boards
- Plastic
- PP
- PVDF
- PVC
- Others
- Non Plastic
- Carbon Fiber
- Fiber glass
- Paper
- Others
- Plastic
- Metal Honeycomb Boards
-
Type
- Reinforced Honeycomb Boards
- Non-reinforced Honeycomb Boards
-
By End-use Industry
- Honeycomb Boards for Aerospace
- Honeycomb Boards for Automotive
- Honeycomb Boards for Marine
- Honeycomb Boards for Construction
- Honeycomb Boards for Packaging
- Others
More Valuable Insights on Reinforced Honeycomb Boards Market
Fact.MR, in its new report, offers an unbiased analysis of the global lithium mining market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in lithium mining market with detailed segmentation:
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Key Takeaways from Market Study
- The global honeycomb board market is anticipated to add 2X value by 2031.
- Paper honeycomb boards currently capture more than half of overall sales.
- Packaging industry anticipated to add an incremental opportunity of US$ 45 Mn each year till 2031.
- Non-metal honeycomb board value anticipated to grow 2X by 2031.
- Automotive application is projected to rise at a single-digit high CAGR over the period of 2021-2031.
“Rising demand for high-strength and lightweight materials benefitting market growth,” says a Fact.MR analyst.
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