In this market, aerospace, defense, and marine are the major end use industries. On the basis of comprehensive research, Lucintel forecasts that the aerospace segment is expected to show above-average growth during the forecast period.
Within the honeycomb core materials market, the aerospace segment is expected to remain the largest application by both value and volume. Expected Increase in aircraft production and increasing demand for lightweight materials in modern aircraft to reduce the structural weight and improve fuel economy are the major driving forces that spur growth for this segment over the forecast period.
By product type, nomex honeycomb by value and aluminum honeycomb by volume is expected to remain the largest market over the forecast period due to their growing demand in aerospace and defense industries.
North America is expected to remain the largest market during the forecast period due to presence of major aerospace Original Equipment Manufacturers (OEMs) and part fabricators and increasing demand for lightweight materials.
Asia Pacific is expected to witness the highest growth over the forecast period due to growth of end use industries and increasing use of lightweight materials in aerospace.
For business expansion, this report suggests innovation and new product development for achieving higher strength and stiffness, better acoustic properties, and formability in all directions.
Emerging trends, which have a direct impact on the dynamics of the industry, include addition of lightweight rubber membrane in honeycomb cores to reduce noise in aircraft and cost-efficient production of honeycomb core with homogenous skin bonding. Hexcel, The Gill Corporation, Euro-Composites, and Plascore are among the major suppliers of honeycomb core materials.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global honeycomb core materials market by end use application, product type, and region, and has come up with a comprehensive research report, "Growth Opportunities in the Global Honeycomb Core Materials Market 2016-2021: Trends, Forecast, and Opportunity Analysis" The Lucintel report serves as a springboard for growth strategy, as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global honeycomb core materials market by end use application, product type, and region as follows:
By end-use application [Volume (M lbs) and Value ($ million) from 2010 to 2021]:
Aerospace Defense Marine Others
By product type [Volume (M lbs) and Value ($ million) from 2010 to 2021]:
Nomex Aluminum Others
By region [volume (M lbs) and Value ($ million) from 2010 to 2021]:
North America Europe Asia Pacific Rest of the World