GLOBAL ALUMINIUM HONEYCOMB MARKET IS ESTIMATED TO REACH USD 6.28 BILLION BY 2033: SPER MARKET RESEARCH
Aluminium honeycomb panels provide lightweight core materials, good strength, efficient insulation, resistance to corrosion and fire, and exceptional strength. Aluminium honeycomb panels are man-made structures with tensile strength created by layering honeycomb elements together. Aluminium is often used to produce honeycomb constructions because of its robust and lightweight characteristics. Aluminium honeycomb panel manufacturing is a relatively simple procedure. This encompasses expansion, molding, and wrinkling. Typically, these panels serve as the focal point of various sandwich construction composite materials. Aluminium honeycombs are frequently preferred as they use materials effectively and produce little waste. Additionally, a variety of industries, including the automotive, marine, construction, aerospace & military, and others, embrace this special material as an ideal option for a wide range of applications.
According to SPER Market Research, ‘Aluminium Honeycomb Market Size- By Type, By Application, By Product, By Sales Channel- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ states that the Global Aluminium Honeycomb Market is estimated to reach USD 6.28 billion by 2033 with a CAGR of 6.61%.
Opportunities for participants are being driven by the growth of the space industry and the increasing production of airplanes. As aluminium honeycomb panels are lightweight, have fuel-saving features, and have excellent mechanical capabilities, they are widely employed in the aerospace and aviation industries. They contribute to the aircraft’s lightweight structure and improve overall performance due to they are employed in the ailerons and flaps. Producers of aluminium honeycomb are developing solutions that are affordable and suitable for internal use in airplanes. The honeycomb’s structure is unchanged and grows lighter, though. Additionally, the growth of the defense and aerospace industries is creating new prospects for participants.
Standard sizes and configurations are used in the manufacturing of aluminium honeycombs. Although aluminium honeycombs are somewhat malleable, there are inherent drawbacks when using them in a variety of complex or customized designs. It is anticipated that limitations in terms of design flexibility may limit the use of aluminium honeycombs in a variety of applications. However, some honeycomb core materials, such as those composed of paper or aramid fiber may absorb moisture more easily than others, which could have an adverse effect on their mechanical characteristics and restrict their use in some settings. Furthermore, manufacturers may find it difficult to comply with industry-specific rules and standards, which could hinder market expansion, particularly in heavily regulated sectors like aerospace and defense.
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Impact of COVID-19 on Global Aluminium Honeycomb Market
The COVID-19 pandemic had a significant impact on the market for materials used to make honeycomb cores. The aerospace sector, a significant user of honeycomb cores, experienced a decline in demand for airplanes and other parts as a result of pervasive travel restrictions. Global aircraft traffic decreased by 66% in 2020 and 58% in 2021. The slowdown in commercial construction projects has an effect on the use of honeycomb in lightweight panels as well. Part of the losses brought on by the epidemic has been partially compensated by the increased demand for honeycomb cores in healthcare institutions for the production of ventilators and medical equipment.
Aluminium Honeycomb Market Key Players:
The largest share for Global Aluminium Honeycomb Market is held by United States due to its advanced aerospace and automotive industries. Argosy International Inc., Bostik, Coach Line Industries, Plascore, Covestro are few of the key players in the market.
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Aluminium Honeycomb Market Growth
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