Thermoplastic Honeycomb Market Analysis, Share, Size, Global Growth, Emerging Technologies, Opportunity
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 Analysis 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 analysis 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 analysis. 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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