As per industry analysis on the honeycomb board market by Fact.MR, the global market is anticipated to be valued at US$ 1.2 Bn in 2021, expanding at a rapid CAGR of 6.5% over the forecast period of 2021-2031. Fact.MR, market research and competitive intelligence provider, analyses that rising fuel costs and constant push from regulatory bodies over fuel economy have provided an opportunity for lightweight material manufacturers to come up with unique-designed panels, including honeycomb boards.
Honeycomb boards are effectively designed panels that are stronger and lighter than conventional dense metal boards. This has attracted prominent automakers such as BMW, Mercedes Benz, Porsche, and Volkswagen, among others, for product utilization for skins as well as for automotive cores. Moreover, from a price point of view, honeycomb boards are cost-effective to produce owing to limited raw material utilization coupled with ease of production. This induces demand for honeycomb boards as a better substitute over other conventional boards sold in the market.
Apart from the automotive industry, the aerospace industry has also adopted honeycomb boards for fuselage and partition application, which shall assist aerospace manufacturers to lower deadweight of the aircraft. This is set to create a win-win situation for both, aircraft OEM manufacturers as well airline owners by lowering the cost of production and providing extra weight compliance for an added passenger.
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Key Takeaways from Market Study
- The global honeycomb board market is anticipated to add 2X value by 2031.
- Paper honeycomb boards currently capture more than half of overall sales.
- Packaging industry anticipated to add an incremental opportunity of US$ 45 Mn each year till 2031.
- Non-metal honeycomb board value anticipated to grow 2X by 2031.
- Automotive application is projected to rise at a single-digit high CAGR over the period of 2021-2031.
“Rising demand for high-strength and lightweight materials benefitting market growth,” says a Fact.MR analyst.
Production Feasibility: Game Changer for Honeycomb Board Suppliers
Thick panels, irrespective of any material, is uneconomical when compared with panels produced through honeycomb technology. The sandwich structure of honeycomb boards are easy to produce through 3D printing or through conventional production lines. This enhances overall product margin over the amount of material consumed, which further translates into production effectiveness and feasibility.
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Key Segments of Honeycomb Board Industry Survey
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Material
- Metal Honeycomb Boards
- Aluminum
- Steel
- Titanium Aluminum
- Others
- Non-metal Honeycomb Boards
- Plastic
- PP
- PVDF
- PVC
- Others
- Non Plastic
- Carbon Fiber
- Fiber glass
- Paper
- Others
- Plastic
- Metal Honeycomb Boards
-
Type
- Reinforced Honeycomb Boards
- Non-reinforced Honeycomb Boards
-
By End-use Industry
- Honeycomb Boards for Aerospace
- Honeycomb Boards for Automotive
- Honeycomb Boards for Marine
- Honeycomb Boards for Construction
- Honeycomb Boards for Packaging
- Others
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The report covers following Honeycomb Board Market insights and assessment that are helpful for all participants involved in the Intradermal Injections market:
- Data on recently introduced regulations and their impact on key industries and on demand in Intradermal Injections
- Latest industry Analysis on Honeycomb Board Market with key analysis of market drivers, trends, and influencing factors
- Key trends Analysis of Honeycomb Board Market and changing consumer preferences in major industries.
- Changing Intradermal Injections demand and consumption of diverse products
- Major trends underlining funding by key investors in numerous countries
- New investment opportunities in diverse technology and product or service types
- Comprehensive data and Competitive analysis of Intradermal Injections major players
- Honeycomb Board Market sales in US will grow at a steady pace, driven by growing consumer confidence and economic recovery
- Intradermal Injections demand forecast in Europe remains stable, as many countries such as UK, France, and Germany focus on boosting growth
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