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Increasing demand for lightweight and environmentally friendly packaging solutions is driving the growth of the honeycomb core materials market

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Increasing demand for lightweight and environmentally friendly packaging solutions is driving the growth of the honeycomb core materials market

February 20
20:57 2020
Increasing demand for lightweight and environmentally friendly packaging solutions is driving the growth of the honeycomb core materials market

Browse 75 market data Tables and 39 Figures spread through 134 Pages and in-depth TOC on “Honeycomb Core Materials Market”.
Honeycomb Core Materials Market by Type (Paper, Aluminum, Thermoplastic, Nomex), Application (Composites, Non-composites), End-use Industry (Aerospace & Defense, Packaging, Transportation, Construction & Infrastructure), Region

Honeycomb core materials are gradually replacing other forms of packaging, such as bubble wrap, thermocol, mineral wool, rock wool, EP foam, particle board, MDF, PUF, and wood. The honeycomb core materials market is growing due to the awareness and need for environmentally friendly packaging. The market is projected to reach USD 3.21 billion by 2022, at a CAGR of 9.5% between 2017 and 2022.

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The rapidly growing e-commerce industry has resulted in the increased demand for transportation of goods, which, in turn, directly boosts the demand for honeycomb core materials in the packaging industry. Stringent government regulations related to environmental concerns and recyclability of products are also expected to help fuel the consumption of paper honeycomb core materials in packaging across industries. 

The Asia Pacific honeycomb core materials market is projected to grow at the highest CAGR during the forecast period, in terms of value and volume. The growth of the Asia Pacific honeycomb core materials market can be attributed to the high demand from the transportation and packaging industries. 

Among types, the paper segment of the honeycomb core materials market is projected to grow at the highest CAGR during the forecast period, in terms of value and volume, due to the increasing demand for paper honeycombs from furniture, packaging, and automotive applications. Paper honeycombs are made from 100% secondary raw materials, are organic, and environmentally friendly. They are lightweight, strong, resistant to compression, recyclable, safe, and versatile.

Among applications, the non-composites segment of the honeycomb core materials market is projected to grow at the highest CAGR during the forecast period, in terms of value and volume. The growth of this segment can be attributed to the increased demand for honeycomb core materials in packaging applications due to their recyclability.

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Honeycomb core materials are majorly used in aerospace & defense, transportation, marine, construction & infrastructure, and packaging industries. The packaging end-use industry segment is projected to grow at the highest CAGR during the forecast period. The growing packaging industry has been using recyclable and durable products. The emergence of e-commerce has also led to the high demand for transport, thereby creating a need for safe packaging methods. Additionally, the use of Nomex honeycombs has also been increasing in the aerospace & defense industry.

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