Market Research Future (MRFR) has published on the “Global Honeycomb Glass Market”.
The honeycomb glass market is estimated to register a CAGR of 6.50% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global honeycomb glass market— Pittsburgh Corning, GLAPOR, Earthstone, JSC Gomelglass, REFAGLASS, Zhejiang DEHO, Huichang New Material.
Honeycomb Glass Market Highlights
The global honeycomb glass market is accounted to register a CAGR of 6.50% during the forecast period and is estimated to reach Significant value by 2032.
By using corrugation and expansion techniques, composite materials like paper, aluminum, glass-reinforced plastic, and meta-agamid can be turned into honeycomb core material. A honeycomb structure is created by assembling a large number of hexagon-shaped cells into honeycomb cores. Since they give composite constructions rigidity while requiring the least amount of weight, they have been employed to create composite sandwich structures for several decades. As a result, industries such as aerospace and military, building and infrastructure and industrial sectors use honeycomb core materials.
Segment Analysis
The global honeycomb glass market has been segmented based type and application.
On the basis of type, the market is segmented into Black (Gray) Foam Glass, White Foam Glass and Multicolor Foam Glass. The black (gray) foam segment was attributed to holding the largest market share in 2022.due to suitable for use as a coating on metal surfaces that are exposed to sunlight.
Based on application, the global honeycomb glass market has been segmented into Cryogenic Systems, Heat Transfer Fluid Systems, Chemical Processing Systems and Commercial Piping and Building. The cryogenic systems segment was expected to hold the largest market share in 2022. Because of the expanding demand in the power and energy sector as well as increased industrialization
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Regional Analysis
The global honeycomb glass market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe honeycomb glass market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The honeycomb glass market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World honeycomb glass market comprises of Middle East, Africa, and Latin America.
The largest market share for honeycomb glass was maintained by the North American regional sector. iron and steel production has increased in both established and developing nations as a result of the automobile industry's rapid growth and the building of infrastructure. North America increased the need for honeycomb glass materials, which are used in thermal insulation, floors, window panels, and acoustic ceilings. Furthermore, the modern theme-based architecture and construction industry is expanding, which has increased demand for honeycomb core materials.
Moreover, the Europe market has been persistently growing over the forecast period. The demand for honeycomb glass is driven by rising environmental consciousness and the establishment of strict environmental legislation. The market expansion is supported by offer a robust and lightweight alternative for energy storage systems, solar panel supports, and wind turbine blades.
Additionally, With respect to both market share and revenue, Asia-Pacific leads the global honeycomb packaging market because of the rising demand for consumer, automotive, and furniture goods. Furthermore, the presence of many end-user industries would boost the region's market expansion even more. due to the growing need for packaging in emerging markets' automotive and e-commerce industries. Moreover, the presence of significant market participants is anticipated to further fuel market expansion in this area.
Furthermore, the rest of the world's honeycomb glass market is divided into the Middle East, Africa, and Latin America. This growth is attributed to the region's rising use of meta-agamid can be turned into honeycomb core material. Government support, a rise in investor interest, and the viability of the technology in the sector are all contributing factors to the market expansion.
Key Findings of the Study
- The global honeycomb glass market is expected to reach USD XX billion by 2032, at a CAGR of 6.50% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market due to the increasing growing need for packaging in emerging markets' automotive and e-commerce industries.
- Based on application, the cryogenic systems segment was expected to hold the largest market share in 2022.
- Pittsburgh Corning, GLAPOR, Earthstone, JSC Gomelglass, REFAGLASS, Zhejiang DEHO, Huichang New Material.
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Companies Covered | 15 |
Pages | 128 |
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