Thermoplastic Honeycomb Market Trends, Share, Global Growth, Key Players, Emerging Technologies, Opportunity and Forecast to 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 Trends 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 trends 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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