Thermoplastic Honeycomb Report By Business Analysis, Industry Types, Demand, Capacity, Applications, Services, Innovations and Forecast 2027
Market Overview:
Honeycombs
are man-made structures consisting of hollow hexagonal cells arranged in a
complex manner to provide the material with high strength and low density. This
helps to reduce wastage of constituent materials and maximize the structure’s
ability to withstand any external force. In addition to this, hexagonal
structure exhibits properties such as higher out-of-plane compression and
resistant to shear, which makes it applicable in key end use industries namely,
aerospace, automotive, and construction. Thermoplastic material can be easily
and completely recycled, which not only reduces the production cost but also mitigates
the environmental concerns. Aerospace Industry in the world is set to grow at
the highest CAGR on account of growing competition in space exploration sector.
In addition to this, with the increasing standards of living and fast track
lifestyle, people are taking up aerial modes of travel, which is anticipated to
fetch maximum demand of Thermoplastic Honeycomb in aircraft manufacturing.
Competitive Analysis:
Key
players in the Global Thermoplastic Honeycomb Market are Plascore (Germany),
Corex Honeycomb (U.K.), EconCore (Belgium), Universal Metaltek (India), Design
Composite GmbH (Austria), Nidaplast (France), Tubus Bauer GmbH (Germany) and
others.
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Market Segmentation:
The
Global Thermoplastic Honeycomb Market is segmented on the basis of type, end
use industries, and region. On the basis of type, the market is divided into
Polypropylene Honeycomb and polycarbonate honeycomb. Polypropylene Honeycomb is
the most used type of thermoplastic honeycomb. It is majorly used in aerospace
industry since this material offers greater resistance to kinetic energy. The
low price of this material increases its compatibility in the Global
Thermoplastic Market. Polycarbonate Thermoplastic Honeycomb is also holding
significant share of market in terms of the demand. This is primarily used in
laminar-flow ventilation or air diffuser, as a part of commercial ventilation
systems to reduce impurity and moisture. It also finds application in
refrigeration systems, and noise & vibration reduction in commercial
buildings.
Based
on end use industries the Global Thermoplastic Honeycomb Market is segmented
into aerospace, automotive, construction, sports, wind energy and others. Among
them, aerospace industry is holding major share of overall demand of
Thermoplastic Honeycomb. During the forecast period aerospace industry is
estimated to grow at the highest CAGR among all of its end use industries. The
major factor favoring growth of the global aerospace market is increased
curiosity among researchers to find possibility of life on other earth like
planets. Automotive industry is steadily growing around the world with ~78
million vehicles produced so far in 2017. This trend is anticipated to grow
even further during the forecast period, which attributed to increasing demand
of automobile in developing countries. Apart from aerospace and automobile,
construction industry is tangibly growing around the world. The housing
developments in developing countries is the major demand driver within this
industry. In addition to this, the developed countries are taking up the reconstruction
activities by adopting use of the modern materials, which is projected to fuel
the demand of Thermoplastic Honeycomb. Other substantial end user industries of
Thermoplastic Honeycomb include sports and electronics. Global sports market
sized more than USD 150 billion in 2016 and estimated to grow at 7%
CAGR during the forecast period. This, in turn, is expected propel growth of
the Global Thermoplastic Honeycomb Market.
Regional Analysis:
Asia
Pacific, North America, Europe are the major regions in the global
thermoplastic honeycomb market. Other regions include the Middle East &
Africa, and Latin America. Asia Pacific is the fastest growing region among
them owing to the rapidly growing aerospace industry. India and China are the
major contributors to the regional market due to the higher demand of
Thermoplastic Honeycomb from aerospace and automotive industry. North America
is a significant market in the global thermoplastic honeycomb market. U.S. is
leading the regional market owing to the presence of well-established end use
industries such as aerospace and sports. The U.S. aerospace industry is the
world’s largest and it is estimated grow at higher CAGR during the forecast
period. This is projected to drive the growth of the regional Thermoplastic
Honeycomb Market. Europe is another substantial region in the Global
Thermoplastic Honeycomb, wherein U.K., Germany, and France are the leading
markets. Automobile and aerospace industries in Europe are on the rise due to
an advent of light use energy efficient vehicles. It has been estimated that
this trend would increase the demand of Thermoplastic Honeycomb in this region.
The Middle East & Africa is going to witness significant growth in sports
and construction industries in this region. This is attributed to the upcoming
FIFA world cup in 2022 which is to be held in Qatar. Latin America is presently
holding smaller share in the Global Thermoplastic Honeycomb Market.
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