Aluminum Honeycomb Market Size and Outlook 2028 | Top Companies –Plascore (Germany), Corex Honeycomb (U.K.), Argosy International Inc. (U.S.)
Market Scope
Market
Research Future (MRFR) forecasts that the global aluminum honeycomb is expected
to attain a substantial CAGR during the forecast period of 2016-2023.
MRFR
observed that the unique hexagonal design of aluminum honeycomb holds major
significance across various sectors is a robust dynamic that is expected to
drive its market growth. Although, the quantity of aluminum required for the
production of its aluminum sheet is less, the strength offered by aluminum
honeycomb is high. The aluminum honeycomb market is anticipated to set pace as
the production efficacy of the product is high. There are numerous utilities of
aluminum honeycomb across several sectors, predominantly in the aerospace
sector. To ensure optimal safety, strength, and longevity, the aerospace
products should be lightweight for smooth flight and be able to deal with
temperature and pressure fluctuations at different altitudes. The increase in
the use of aluminum honeycomb as core material for numerous aerospace products,
due to its ability to meet aforementioned requirements is expected to surge its
market. Due to the high durability and flexibility offered by aluminum
honeycomb, it finds several applications in the construction, automobile, and
defense sectors. This is considered as another factor that is expected to impel
the global aluminum honeycomb market growth. However, the high manufacturing
cost of aluminum honeycomb can hinder the market expansion.
Segmental Overview
The
global aluminum honeycomb market has been segmented on the basis of application
and end-use.
Based
on the application, the aluminum honeycomb market has been segmented into core, working surfaces, sandwich panel, lighting, aerodynamics, and
others. Owing to the increase in core applications of aluminum honeycomb, the
core segment is expected to register a substantial CAGR over the assessment
period.
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Based on the end-use, the aluminum market has been
segmented into aerospace, defense, construction, automotive, marine, and
others. The extensive applications of aluminum honeycomb in the aerospace
industry, is likely to propel the global
aluminum honeycomb market growth.
Regional Analysis
The global aluminum
honeycomb market has been studied across five key regions; North America, Latin
America, Asia Pacific, Europe, and the Middle East & Africa.
The aluminum
honeycomb market in Asia Pacific is set to exhibit the highest growth during
the evaluation period. MRFR observed that the flourishing aerospace industry in
Asia Pacific is likely to be responsible to augment the market growth. The emerging economies like India, China, and
Japan hold a considerable share of the market due to the hike in public
investment in the defense, aerospace, and marine sectors.
The market in
North America is likely to secure the second position in the global market. The
U.S. is to establish its supremacy in the regional market owing to the
existence of well-established end-use industries like defense and aerospace.
The increase in military force, in the U.S. to strengthen the North American
military power is anticipated to spur the aluminum honeycomb market.
Europe, after North America, is expected to
register a substantial aluminum honeycomb market over the assessment period.
The U.K, France, Germany and Switzerland are identified to contribute
significantly to the regional market growth.
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The burgeoning
aluminum honeycomb market’s end-use industries in countries namely Brazil and
Argentina, in Latin America is expected to prompt the market growth in the
review period. The expansion of the marine industry in Brazil is predicted to push
the growth of aluminum honeycomb market in Latin America.
The growing
need for composite and core material in the Middle East and Africa is expected
to impel regional market growth.
Market Players
Coach Line
Industries (India), Motonity Private Limited (India), Universal Metaltek
(India), Plascore (Germany), Corex Honeycomb (U.K.), Argosy International Inc.
(U.S.), Hexcel Corporation (U.S.), EURO-COMPOSITES (U.S), Benecor, Inc. (U.S.),
Alucoil (Spain), and others.
Industry Update
June 2019
SpaceX’s third Falcon
Heavy rocket was lifted off from NASA’s Kennedy Space Center in Florida, used
aluminum honeycomb in
its design.
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