Aluminum Honeycomb Market to Experience USD 512.50 million Growth as per Technavio's Market Analysis
USD 512.50 million
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Alucoil SAU, Argosy International Inc., and EconCore NV Among Key Vendors in the aluminum honeycomb market
Alucoil SAU, Argosy International Inc., EconCore NV, EURO-COMPOSITES SA, Hexcel Corp., Hunter Douglas NV, Plascore Inc., Suzhou Beecore Honeycomb Materials Co. Ltd, Toray TCAC Holding BV, and UNIVERSAL METALTEK, among others, are some of the key vendors operating in the aluminum honeycomb market. The offerings of some of these vendors are mentioned below:
- Alucoil SAU – The company offers aluminum honeycomb products such as larcore A2 with a total thickness of 6 mm and 14 mm.
- Argosy International Inc. – The company offers a wide range of Aluminum Honeycomb products such as 5000 Series Aluminum Honeycomb Core, Vented Aluminum Honeycomb, and many more.
- EconCore NV – The company offers thermoplastic ThermHex honeycomb core and aluminum skins with cell diameters as small as 3 mm.
APAC to be the largest market of the aluminum honeycomb market
APAC will be the largest market during the forecast period, and it will account for 44% of the market’s growth. The key countries in the region are expected to be China and India. However, the market growth rate in APAC will be slower than the growth of the market in other regions.
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Aerospace and defense segment will generate highest revenue for the aluminum honeycomb market
By application, the aluminum honeycomb market has been classified into five segments, namely aerospace and defense, marine, automotive, construction, and others. The aerospace and defense segment will have significant market share growth during the forecast period.
Increasing demand from the shipping industry to drive aluminum honeycomb market
The increasing demand from the shipping industry is one of the key factors driving growth in the aluminum honeycomb market. Maritime transport is an essential mode of transport and contributes significantly to the global economy. More than 90% of the trade in the world is carried by sea, and maritime transport is considered the most cost-effective mode of transport of raw materials and goods globally. The rising demand for aluminum honeycomb from the shipping industry is primarily due to the favorable mechanical properties of aluminum as a material. The use of aluminum honeycomb in ships contributes significantly in terms of lightweight, rigidity, recyclability, non-toxicity, energy efficiency, and insulation. The extensive use of aluminum honeycomb in a wide range of applications in the shipping industry is driving the growth of the aluminum honeycomb market.
Volatility in the prices of aluminum to challenge aluminum honeycomb market
The volatility in the prices of aluminum will be a major challenge for the aluminum honeycomb market. The rise in the prices of aluminum would lead to high prices of aluminum honeycomb. The fluctuation in the prices can lead to indecisiveness among manufacturers regarding the selling price. It also leads to differences in the revenue generated by different manufacturers of aluminum honeycomb. In addition, the fluctuation in the prices of aluminum can decrease the demand for aluminum products, including aluminum honeycomb, owing to customer preferences.
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