DUBLIN--(BUSINESS WIRE)--The "High-Temperature Honeycomb Sandwich Materials Market By Type, By Application, By Technology: Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.
The global high temperature honeycomb sandwich materials market was valued at $0.4 billion in 2020 and is projected to reach $1.0 billion by 2030, growing at a CAGR of 10.5% from 2021 to 2030.
Key Market Players
- Corex Honeycomb
- Eco Earth Solutions
- EconCore N.V.
- Hexcel Corporation
- Honylite Private Limited
- Pacific Panels
- Plascore Inc.
- Schutz GmbH & co., KGaA
- The Gill Corporation
- Ulbrich Stainless Steels
- Special Metals Inc
A honeycomb sandwich is a structure made of three layers in which a low-density core is injected in between two thin layers, giving it superior mechanical properties at minimal weight. A honeycomb sandwich can be used in high temperature applications if suitable material is used in the manufacturing of honeycomb sandwich panels. High strength, minimum raw material requirement in manufacturing, stiffness, and corrosive resistance are some of the advantages of high temperature honeycomb structures.
According to the report published by the space foundation in 2021, the global space economy grew by 4.4% in 2020 as compared to 2019 and reached a total of $447 billion in 2020. High temperature honeycomb sandwich materials are used in various applications of space industry. The growth in space economy is beneficial for growth of high temperature honeycomb sandwich materials market during the forecast period.
The radiators used in the space vehicles are generally made up of honeycomb panels with integrated heat tubes. The use of the honeycomb panels reduces radiator weight by minimum 3%. In addition, honeycomb panels offer large surface area. Hence, the total area for heat dissipation is greater in honeycomb radiator panels compared to others. In addition, a vented aluminum honeycomb is used for high temperature space applications for radiators. Increase in space exploration by the developing countries, such as India, drives the market growth. However, high production cost and large initial investment are the major factors that hinder the growth of the market during the forecast period.
The high temperature honeycomb sandwich materials market is segmented on the basis of type, application, technology, and region. On the basis of type, it is segmented into stainless steel, titanium, Inconel, and others. Depending on application, it is classified into aerospace & aircraft, satellites, automobiles, and others. By technology, it is classified into expansion and corrugation. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. High temperature honeycomb sandwich materials market share is analyzed across all significant regions and countries.
COVID-19 Impact on Market
- COVID-19 spread to almost 213 countries across the globe, with the World Health Organization declaring it a pandemic on March 11, 2020.
- High temperature honeycomb sandwich materials are primarily used in the aerospace & aircraft and automobile industries, which were severely affected by the COVID-19 pandemic, owing to the lockdown imposed by various governments.
- Disruptions in raw material procurement and price volatility hampered the growth of the high temperature honeycomb sandwich materials market during the pandemic.
- The aerospace & aircraft and automobile industries started their operations normally as the vaccination rollouts increased, due to which the demand for high temperature honeycomb sandwich materials increased in the automobile industry from the start of 2021.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the high-temperature honeycomb sandwich materials market analysis from 2020 to 2030 to identify the prevailing high-temperature honeycomb sandwich materials market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the high-temperature honeycomb sandwich materials market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global high-temperature honeycomb sandwich materials market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Stainless Steel
- Titanium Inc.nel
- Others
By Application
- Aerospace aircraft
- Automotive
- Satellites
- Others
By Technology
- Expansion
- Corrugation
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- U.K.
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
For more information about this report visit https://www.researchandmarkets.com/r/akomz5
