Honeycomb structures composed of small hollow cells of hexagonal or honeycomb shaped geometry to reduce the amount of material used. This helps to minimize weight, lower the cost, and maximize strength of the structure. Aluminum is the most preferred metal for making a honeycomb structure due to its light weight and greater strength. It exhibits many desired properties such as greater strength-to-weight ratio, stiffness, and resistance to compression.
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The most important characteristic feature of aluminum is that it exhibits higher recyclability. Almost 90% of all the aluminum materials produced annually are derived from the recycled aluminum. This mitigates the environmental as well as cost concerns regarding aluminum. Global aerospace market is estimated to reach ~40 billion USD at CAGR of 6% during 2016 to 2023.
Key players in the global aluminum honeycomb market are
- Hexcel Corporation (U.S.)
- Argosy International Inc. (U.S.)
- EURO-COMPOSITES (U.S)
- Benecor, Inc. (U.S.)
- Alucoil (Spain)
- Plascore (Germany)
- Corex Honeycomb (U.K.)
- Coach Line Industries (India)
- Motonity Private Limited (India)
- Universal Metaltek (India)
The global aluminum honeycomb market has been segmented based on application, end use industry, and region.
Based on application, the market is divided into core, sandwich panel, working surfaces, aerodynamics, lighting, and others. The use of aluminum honeycomb as core is vastly spread in industries such as aerospace, marine and defense for making main body of aircrafts, fighter jets, and vessels. Core is essentially strong, stiff and light weight at the same time for such heavy-duty equipment. Apart from core, the aluminum honeycomb is used as sandwich panels in attachments to the main body of automobile and ships.
Based on end use industry, the global aluminum honeycomb market is segmented into aerospace, marine, defense, automotive, construction, and others. Aerospace industry is gaining momentum around the world owing to the competition among the leading space faring economies namely U.S, India, Russia, China, and European countries.
The global aerospace market which includes designing and manufacturing of aircrafts as well as spacecraft is set to witness the highest growth among all the end use industries of aluminum honeycomb. This is posing as a great opportunity for the global aluminum market which find its major use in aerospace industry.
Following aerospace industry, marine industry is growing at substantial CAGR of 7.5% on account of an increasing ship building activities in the coastal countries. In addition to this, defense sector of major military power countries namely, U.S., Russia, China, and India are flourishing with the growing aspirations of these countries to enhance their deterrence abilities.
The global aluminum honeycomb market is geographically divided into five key regions which are Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific is the leading region among them owing to the increasing demand from aerospace industry in this region. Countries namely India, China, and Japan are the major markets in this region owing to the growth in demand from aerospace and marine industries.
North America is the second most significant region in the global aluminum honeycomb market. U.S. is the leading market in this region due to the presence of well-established end use industries such as aerospace and defense.
Europe is another substantial region in the global aluminum honeycomb market. The major markets in this region are U.K., Germany, France and Switzerland, where there is a growing demand of aluminum by automobile and aerospace industry.
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TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
3 Market Research Methodology
4 Market Landscape
5 Industry Overview Of Global Aluminum Honeycomb Market
6 Market Trends
7 Global Aluminum Honeycomb Market By Region
To Be Continued…….
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