Market Definition and Growth Factors:
Aluminum honeycombs are facing increasing demand levels due to their applications and physical qualities, which enable a wide range of applications. Market Research Future, a firm which specializes in market reports related to the Chemicals and Materials sector among others, recently published a report on this market. The sector is expected to show intensive growth levels while expanding with an encouraging CAGR rate.
The relatively strong and light weight structure of COVID 19 Impact on Aluminum Honeycomb Market has increased the demand that it is generating from various sectors. Defense, automotive, aerospace, marine and construction sectors are some of the main sectors that are responsible for majority of the market’s demand. The aerospace and automotive industries in Europe are fetching maximum demand of aluminum honeycomb in this region, which is driving the growth regional market.
The players Profiled in The Global Aluminum Honeycomb Market Are:
- Hexcel Corporation (U.S.),
- Argosy International Inc. (U.S.),
- Plascore (Germany),
- Corex Honeycomb (U.K.),
- Coach Line Industries (India),
- EURO-COMPOSITES (U.S),
- Benecor, Inc. (U.S)
Global Competitive Analysis:
The industry players in the segment are effectively utilizing their primary resources to initiate long lasting growth changes. A trend of volume-driven growth has been observed in the market of late with the development of different varieties of product types. The sector is undergoing considerable transformation which has accelerated the growth pace of the sector. The best long-term growth opportunities for this sector can be harnessed by ensuring ongoing process improvements and maintaining financial flexibility to invest in the optimal strategies. Conversely, with companies aiming to capture a considerable share of the market segment as early as possible, experimentation with various advantage points is being seriously considered and implemented.
Jan 2018 Jaguar’s XJ220s has been built around a lightweight aluminum honeycomb chassis with inboard dampers, an aerodynamic body, and a turbocharged V6 in the middle which has been sourced from British Leyland’s Group B program.
Jan 2018 Drever Capital Management’s re-development of the former First National Bank of Dallas building has commenced which includes the removal and restoration of the historic marble slab panels on the building’s façade. HyCOMB USA has been charged for the stone cutting and the application of the new structural aluminum honeycomb panel.
The industry for global aluminum honeycomb has been segmented into applications, end use industry, and region. On the basis of application, the sector is segmented into core, sandwich panel, working surfaces, aerodynamics, lighting, and others, wherein the use of aluminum honeycomb for making core is driving the segment. The end use industries for this market are segmented into aerospace, marine, defense, automotive, construction, and others. Among these, aerospace is holds a major share of the total demand of aluminum honeycomb. Geographically, the market is divided into five key regions such as Asia Pacific, North America, Europe, Latin America, and Middle East & Africa.
Detailed Regional Analysis:
The five key regions of the global Aluminum Honeycomb Market are Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. The Asia Pacific region is the fastest growing market due to the growth of aerospace industry. India, Japan and China have been observed as the major shareholders in the regional market because of increasing public investment in aerospace, marine, and defense sectors. North America was a leading region in the global aluminum honeycomb market before it was surpassed by Asia Pacific which is the second largest region in the global aluminum honeycomb market. U.S. is the major market in this region owing to the presence of well-established end use industries such as aerospace and defense. U.S. is steadily increasing its military power to remain at the top spot on the list of leading military powers. This will greatly favor market of aluminum honeycomb in this region. Europe is a noteworthy market in the industry. Major contributors to the regional market are U.K, France, Germany and Switzerland.
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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