The market research report, entitled Honeycomb Core Materialsshows good possibilities in the Honeycomb Core Materialsmarket during the next five-year period and ensures more information regarding market trends. The following summary will give an overview of the drivers, challenges and key players in the market.
Global Honeycomb Core MaterialsMarket Forecast:
The global Honeycomb Core Materialsmarket is forecasted to grow at a rate of 4.4% CAGR during the period of 2021-2026. Honeycomb Core MaterialsMarket will be experiencing an escalation in demand attributed to the growing usage of Honeycomb Core Materialsin the market. The XYZ market growth depends upon numerous factors which have direct or indirect impact on the demand. Our report has the summary of such factors derived using SWOT, PEST, industry life cycle and supply chain analysis. These methods help in analysing the strength of the companies and identify gaps as well as opportunities to lay out a successful roadmap which leads to higher profitability.
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Some linchpins in the market are
BAE Systems Plc., Cobham Plc., Honeywell International Inc., Microsemi Corporation, and Texas Instruments
Honeycomb Core MaterialsMarket Segmentation:
The report segments based upon demographics, geographics, benefits and volume etc, has different driving factors and identifies the most-attractive segments and sub-segments. Honeycomb Core Materialsmarket segmentation will not only help marketers to be more efficient in terms of time, money and other resources but also allows companies to learn about their target audience so that they can tailor campaigns and increase market share and revenue.
The Gill Corporation
Toray Advanced Composites
Showa Aircraft Industry Co. Ltd.
AVIC Composite Corporation Ltd.
Growth drivers and Market Value:
This report, from Stratview Research, studies the Honeycomb Core Materials Market value and growth drivers over the trend period of 2020-25. According to the report –
The honeycomb core market currently represents a fraction share of these megalodon industries but could not escape from such changing market dynamics and is anticipated to experience a hefty decline in 2020. The study of previous downturns and primary interviews with market stakeholders and industry experts suggest a quick rebound in the demand for honeycomb core materials from 2021 onwards, ultimately drive the market to reach US$ 0.7 billion in 2025. An expected recovery in commercial aircraft production, B737 MAX’s approval from FAA and other bodies, expected entries of COMAC and Irkut, increase in the demand for high-speed and metro trains, and rebound in recreational fiberglass boat sales to rejuvenate the current weakened demand in the future.
Based on Material Type:
Based on the material type, the market is segmented into Nomex honeycomb, Kevlar honeycomb, aluminum honeycomb, thermoplastic honeycomb, and others. Nomex honeycomb core is expected to remain the most dominant material type in years to come. Nomex honeycomb offers several advantages including excellent properties (high strength to weight ratio and higher stiffness), thermal resistance, and corrosion resistance. Nomex honeycomb is mostly used in aircraft interior panels, such as floors, overhead stowage bins, galleys, and partitions; automotive interior body panels; and high-performance parts in other industries. In the post-pandemic scenario, Nomex honeycomb and thermoplastic honeycomb are estimated to recover at a faster pace and then maintain sequential growth till 2025.
Based on Region:
The market is registering significant changes in regional dynamics in pre-COVID and post-COVID scenarios. All regions to mark significant declines in honeycomb core demand in 2020. Despite severely hit by the pandemic, among regions, North America is expected to remain the largest market during the forecast period. The USA is expected to act as the growth engine of the region’s market as the country is the manufacturing hub with the presence of several OEMs of aerospace, automotive, and marine.
Europe and Asia-Pacific are the other major markets and are also likely to experience hefty declines in the demand for honeycomb cores in 2020. The Asia-Pacific’s market is anticipated to witness the least decline in the demand for honeycomb core materials and is expected to recover at the fastest pace compared to other regions. The region’s demand will be driven by a host of factors including an expected increase in the demand for commercial aircraft to support rising passenger traffic, the opening of assembly plants of Boeing and Airbus in China; upcoming indigenous commercial and regional aircraft (COMAC C919 and Mitsubishi SpaceJet); increasing automobile production; and increased presence of major global players and raw material suppliers. China, Japan, and India are projected to be the growth engines of the region’s market.
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COVID-19 IMPACT Analysis on Honeycomb Core MaterialsMarket
Coronavirus has influenced every one of the organizations, little or large, dealing in any sector. The growth curves of XYZ market have seen immense fluctuations in the year 2021. The market scenario and the pace of growth have taken a colossal turn and have prompted numerous adjustments in the cycles, which will have repercussions for a significant stretch. 2021 is probably going to be superior to 2021 for the XYZ market players as the greater part of the organizations have continued their activities and the interest is getting reestablished for them.
Note: This report will be refreshed to consolidate the effect of COVID-19, available for the time of 2021 to 2026.
The assessment of the pandemic reveals an enormous transformation in both short, as well as long-term regional business. With some barriers along the road, the Honeycomb Core Materialsmarket stakeholders hope to regain stability in 2021, with flourishing demand and a hassle-free market environment. In terms of region, North America and Russia held the major chunk of the market in and before 2021. Despite several setbacks and the pandemic’s impact, the regions having the presence of key players, are likely to maintain their dominance in the upcoming years. According to the report, North America. region is expected to handle the crisis most efficiently, growing at the highest rate during the five-year tenure and is expected to become the next potential manufacturing hub.
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About Stratview Research
Stratview Research is a global market intelligence firm helping its clients’ tract the ever-evolving market scenarios through customised and syndicated reports. The reports offered here are gathered with the help of our wide-ranging and reliable secondary sources and in-depth interviews with the linchpins within the market. Extrapolated through primary and secondary research, Stratview Research’s reports help you remain ahead of the curve by enabling you to understand the current market trends and challenges coming on your way. Our strong team of industry veterans and researchers assure high quality research and strategic insights that help companies worldwide in effective decision making.