Aluminum Honeycomb Market Lucrative in End-Use Industries & Growth During Period 2020-2025
Aluminum honeycombs are facing increasing demand levels due to their applications and physical qualities, which enable a wide range of applications. Market Research Future, a firm which specializes in market reports related to the Chemicals and Materials sector among others, recently published a report on this market. The sector is expected to show intensive growth levels while expanding with an encouraging CAGR rate.
The
relatively strong and light weight structure of aluminum honeycomb market has
increased the demand that it is generating from various sectors. Defense,
automotive, aerospace, marine and construction sectors are some of the main
sectors that are responsible for majority of the market’s demand. The aerospace
and automotive industries in Europe are fetching maximum demand of aluminum
honeycomb in this region, which is driving the growth regional market.
Industry Segments
The industry for global aluminum honeycomb has been segmented into
applications, end use industry, and region. On the basis of application, the sector
is segmented into core, sandwich panel, working surfaces, aerodynamics,
lighting, and others, wherein the use of aluminum honeycomb for making core is
driving the segment. The end use industries for this market are segmented into
aerospace, marine, defense, automotive, construction, and others. Among these,
aerospace is holds a major share of the total demand of aluminum honeycomb.
Geographically, the market is divided into five key regions such as Asia
Pacific, North America, Europe, Latin America, and Middle East & Africa.
Detailed Regional Analysis
The five key regions of the global aluminum honeycomb market are Asia
Pacific, North America, Europe, Latin America, and Middle East & Africa. The
Asia Pacific region is the fastest growing market due to the growth of
aerospace industry. India, Japan and China have been observed as the major
shareholders in the regional market because of increasing public investment in
aerospace, marine, and defense sectors. North America was a leading region in
the global aluminum honeycomb market before it was surpassed by Asia Pacific
which is the second largest region in the global aluminum honeycomb market.
U.S. is the major market in this region owing to the presence of
well-established end use industries such as aerospace and defense. U.S. is
steadily increasing its military power to remain at the top spot on the list of
leading military powers. This will greatly favor market of aluminum honeycomb
in this region. Europe is a noteworthy market in the industry. Major
contributors to the regional market are U.K, France, Germany and Switzerland.
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Latin America is witnessing a steady growth of end use industries in
countries namely Brazil and Argentina. The marine industry in Brazil is
estimated to gain substantial momentum during the forecast period to push
growth of the regional aluminum honeycomb market. In coming years the
opportunities for composite and core material are growing in the Middle East
& Africa, which would help propel the growth of the regional market.
Global Competitive Analysis
The industry players in the segment are effectively utilizing their
primary resources to initiate long lasting growth changes. A trend of volume-driven
growth has been observed in the market of late with the development of
different varieties of product types. The sector is undergoing considerable
transformation which has accelerated the growth pace of the sector. The best
long-term growth opportunities for this sector can be harnessed by ensuring
ongoing process improvements and maintaining financial flexibility to invest in
the optimal strategies. Conversely, with companies aiming to capture a
considerable share of the market segment as early as possible, experimentation
with various advantage points is being seriously considered and implemented.
The players profiled in the global aluminum honeycomb market are
Hexcel Corporation (U.S.), Argosy International Inc. (U.S.), Plascore
(Germany), Corex Honeycomb (U.K.), Coach Line Industries (India), EURO-COMPOSITES
(U.S), Benecor, Inc. (U.S) are some of the industry players.
Industry Updates:
Jan 2018 Jaguar’s XJ220s has been built around a lightweight aluminum
honeycomb chassis with inboard dampers, an aerodynamic body, and a turbocharged
V6 in the middle which has been sourced from British Leyland's Group B program.
Jan 2018 Drever Capital Management's re-development of the former First
National Bank of Dallas building has commenced which includes the
removal and restoration of the historic marble slab panels on the building's
façade. HyCOMB USA has been charged for the stone cutting and the
application of the new structural aluminum honeycomb panel.
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