Thermoplastic Honeycomb Market Trends 2022 Key Players Insights, Growth Challenges and Forecast to 2030
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 Trends 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 Trends 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” in detail along with the
table of contents
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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