Thermoplastic Honeycomb Market 2022-2030: CAGR Status, Industry Share, Top Key Players, Development Trend, Dynamics

Thermoplastic Honeycomb Market – Competitive Landscape

The thermoplastic honeycomb market is hugely fragmented and competitive owing to the presence of several big and small players. The market is volumetric and favors economies of scale over scope. Thus, large manufacturers can remain competitive, owing to the large purchase of stock material. The shortage of stock material and the periodic swings in the cost of raw material is having an adverse effect on the thermoplastic honeycomb industry.

Thermoplastic honeycomb market manufacturers employ vendor management and client relationship strategies to generate a stable revenue and avoid loss of large clients. Companies are also pursuing raw material suppliers who can adapt to the changing demands of the industry.

The companies are developing global sourcing and network strategies that guarantee uniform raw material specifications. Companies are closely aligning with automobile manufacturers to develop customized products having desirable characteristics such as low thermal expansion, the balance of impact and stiffness, and printable & paintable thermoplastic honeycomb products.

Major Players:

Players leading the global Thermoplastic Honeycomb Market include Corex Honeycomb (UK), Plascore (Germany), EconCore (Belgium), Design Composite GmbH (Austria), Universal Metaltek (India), Nidaplast (France), and Tubus Bauer GmbH (Germany), among others.

Thermoplastic honeycomb structures provide high strength and low density to a material. Its hexagonal structure reduces the wastage of materials, which in turn lowers the cost of their production. These structures also exhibit some additional properties such as moisture resistance, easy application, and customization of sheets into desired shapes. Additionally, thermoplastic honeycombs are 100 % recyclable and hence, considered as environment-friendly.

Owing to their clarity and transparency, thermoplastic honeycombs are used for lamps and lighting applications in industries, such as automotive, aerospace, construction, and sports. Due to their insulating property, these materials are also used in electronic devices. The LED lighting technology used for decorative & entertainment purposes also makes use of thermoplastic honeycomb structures.

Heading with their favorable properties, thermoplastic honeycombs have completely replaced metal honeycomb structures long gone. The cost-intensive nature of metal honeycomb makes thermoplastic honeycomb more competitive in numerous applications.

The global thermoplastic honeycomb market is growing rapidly over the past few years, witnessing an augmenting demand for lightweight components in the aerospace and automotive industry. Besides, growth in the manufacturing sector worldwide is creating huge market demand. Moreover, the bourgeoning aerospace composites and core materials market is expected to continue to speed up the thermoplastic honeycomb market price over the assessment period.

Acknowledging the kind of upsurge, the market is witnessing currently, Market Research Future (MRFR), asserts that the global thermoplastic honeycomb market is expected to garner massive gains by 2023. In its recently published thermoplastic honeycomb market analysis, MRFR also mentions that the market would register a moderate CAGR over the assessment period (2016-2023).

Additionally, the global sports industry, which is set to grow at approximately 7% due to the forthcoming Olympic Games in 2020, is expected to push the growth of the market. Furthermore, the continually increasing construction sectors around the world are projected to foster the growth of the global thermoplastic honeycomb market, excellently.

However, the market growth is expected to get hampered by some technical issues such as the interaction between various damage mechanisms such as abrasion, shock, and low-velocity impacts that leads to deformation of the structure due to non-elastic behavior of some constituent material.

Nevertheless, many ongoing researches to find new advanced elastic constituent materials to overcome the concern mentioned above would excellently support the market growth over the anticipated period.

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Thermoplastic Honeycomb Market – Segments

MRFR has segmented the report into three dynamics to widen the scope of understanding,

· By Type : Polypropylene Honeycomb and Polycarbonate Honeycomb.

· By End-use Industries : Aerospace, Automotive, Construction, Sports, Wind Energy, and others

· By Regions : Asia Pacific, Europe, North America, Latin America, the Middle East & Africa, and others.

Thermoplastic Honeycomb Market – Regional Analysis

The Asia Pacific is the most rapidly growing market for thermoplastic honeycombs among all the regions due to its flourishing aerospace industry. The market is growing on account of the large plastic manufacturing bases in China & India and the growing economy of the region. Besides, ongoing developments in the aerospace and automotive sector in these countries provide enormous opportunities for the APAC thermoplastic honeycomb market growth. Furthermore, the momentous growth in industries such as construction and wind energy in Asia is expected to propel the market further.

North America is another lucrative market for thermoplastic honeycomb, which follows the APAC market closely. The regional market is by the US, with its largest market share. The growth of well-established end-use industries, including the aerospace and sports industry, acts as a major tailwind to the market growth in the region. Aerospace companies in the US are expected to continue leading the global aerospace market over the forecast period. Moreover, the presence of large industries such as automobile, construction, sports, and wind energy, consume a vast amount of thermoplastic honeycomb in North America.

The thermoplastic honeycomb market in Europe is growing significantly too. Factors such as the presence of large automobile sector and other end-users drive the growth of the market. The European automotive industry is evolving with the advent of lightweight, energy-efficient, electric vehicles, which acts as a significant driving force for the regional market. The market growth attributes to the presence of major markets such as Germany, France, and the UK in the region.

Browse Key Industry insights spread across 140 pages with 39 market data tables & 11 figures & charts from the Report, “Thermoplastic Honeycomb Market by Type (Polypropylene Honeycomb and Polycarbonate Honeycomb), by End Use Industries (Aerospace, Automotive, Construction, Sports, Wind Energy and Others), and by Region-Forecast till 2023

Industry/ Innovation/ Related News:

· July 25, 2019 —- EconCore N V (Belgium), a leading manufacturer of honeycomb sandwich panels and parts, announced its partnership with Ultrapolymers Group NV ((Belgium), a leading distributor of rubber and plastics products and DuFor Polyester Specialties (the Netherlands), a leading developer of custom-made polyesters to develop recycled PET thermoplastic honeycomb.

· The project to develop a thermoplastic honeycomb core made from recycled PET is funded by the Flemish Government. EconCore offers a worldwide patented process for continuous and cost-effective production of thermoplastic honeycombs whereas, Ultrapolymers and DuFor have extensive knowledge & expertise in processing PET and recycled PET (rPET) polymers.

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In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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