Aluminum Honeycomb Market Analysis to 2023
Honeycomb structures are the man-made structures that have geometry of a honeycomb to reduce the amount of material used to reach minimal weight, low cost, and maximum strength criteria. This structure is an array of small hallow cells formed between thin vertical walls. The hexagonal or honeycomb shape structure provide a material with minimal density and high out-of-plane compression and shear properties. The most preferred metal for making honeycomb structure is aluminum, which is strong and light weight.
Global top 10 Key Players:
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), and others. It can be recycled easily with minimum wastage of material. In addition to this, aluminum honeycomb exhibits properties such as, resistance to fire, shear and compression. The strength-to-weight ratio of aluminum is among the highest of all the core composites currently available. Aluminum honeycomb structure finds application in number of industries such as aerospace, marine, defense, automotive, and construction. It can be used as a core, sandwich panel, in aerodynamics, and as a vast number of working surfaces.
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The most important advantage of aluminum honeycomb structure is its ecofriendly nature. It can be recycled with an easy and in efficient way as compared to other metal composites. There is a growing demand of light weight and stiff structures in aerospace industry. The global aerospace industry is estimated to reach ~40 billion USD, in terms of operating earnings, by 2023, which is expected to fuel the demand of aluminum composites. Increasing demand of light-weight materials in modern aircrafts and automobiles is projected to propel growth of the global aluminum honeycomb market. The major military powers countries namely, U.S., Russia, China, and India are investing major share of their GDP in defense sector, and rapidly acquiring modern warfare equipment. This, in turn is anticipated to boost the demand of aluminum honeycomb structures for making core of these equipment. Apart from this, the coastal countries are aspiring to dominate the seas in their affinity, which may push the demand of aluminum honeycomb structures in ship building. However, the capital intensive nature of aluminum metal is driving the research for finding a cheaper alternative to aluminum honeycomb which is posing as a major bottleneck in growth of the market. Nevertheless, the major end use industries such as aerospace, defense and marine will continue use the metal based composite structures on account the strength the material provides.
Regional Analysis:
This in turn is expected favor market of aluminum honeycomb in this region. Europe is another significant market in the global aluminum honeycomb market. Major contributors to the regional market are U.K, France, Germany and Switzerland. Aerospace and automotive industries in Europe are fetching maximum demand of aluminum honeycomb in this region, which is driving the growth regional market. Latin America is witnessing a steady growth of end use industries in countries namely Brazil and Argentina. The marine industry in Brazil is estimated to gain substantial momentum during the forecast period to push growth of the regional aluminum honeycomb market. In coming years the opportunities for composite and core material are growing in the Middle East & Africa, which would help propel the growth of the regional market.
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Segmentation:
The global aluminum honeycomb market has been segmented into applications, end use industry, and region. On the basis of application, the market is divided into core, sandwich panel, working surfaces, aerodynamics, lighting, and others, wherein the use of aluminum honeycomb for making core is the leading segment. Based on end use industry the global aluminum honeycomb market is segmented into aerospace, marine, defense, automotive, construction, and others. Among these, aerospace is holding major share of overall demand of aluminum honeycomb. Geographically, the market is divided into five key regions, including Asia Pacific, North America, Europe, Latin America, and Middle East & Africa.
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