Thermoplastic Honeycomb is environment friendly owing to its 100 % recyclability. The aerospace industry is witnessing constantly growing demand of light weight material for manufacturing. The global market for aerospace composites and core materials is growing at the highest CAGR among all its end use industries, which is expected to propel growth of the Global Thermoplastic Honeycomb Market. Thermoplastic Honeycomb is anticipated to witness growth in demand during the forecast period owing to the sluggish demand of metal honeycomb structure. In addition to this the cost intensive nature of metal honeycomb make Thermoplastic Honeycomb more competitive in numerous applications. The global sports industry is set to grow at higher CAGR of ~7% on account of forthcoming Olympic Games in 2020. Moreover, the constant growth of construction segment around the world is projected to help push the growth of the Global Thermoplastic Honeycomb Market. However, the complex interaction between various damage mechanisms such as shock, abrasion, and low velocity impacts that causes deformation in the structure due to non-elastic behavior of some constituent material. This is expected to negatively impact the growth trajectory of Thermoplastic Honeycomb Market. Nevertheless, endearing researches in a bid to find new advanced elastic constituent materials to overcome this concern may help the market to retain momentum.
In 2022, Gifu Plastic was the first to industrialise EconCore's patented continuous production thermoplastic honeycomb, following a relationship that began in 2006. Gifu Plastic, a specialist in general plastics manufacturing, was founded in 1953, when the plastics industry was still in its early stages. At the New Materials exposition in Tokyo in 2009, Gifu Plastic introduced the first further processed panels for logistics and packaging, which were marketed in Japan under the name Teccell.
EconCore (Leuven, Belgium), a honeycomb sandwich manufacturer, partnered with Flaxco (Roeselare, Belgium) in 2022 to develop and manufacture a revolutionary thermoplastic honeycomb sandwich panel. Flaxco was founded in the early 1850s and specializes in flax fiber weaving for a wide range of applications, including apparel, upholstery, and decorating.
Key players in the Global Thermoplastic Honeycomb Market are
Regional Analysis:
The Global Thermoplastic Honeycomb Market is spanned across five key regions including, Asia Pacific, North America, Europe, Middle East & Africa, and Latin America. Asia Pacific is the fastest growing market among them due to the growing aerospace industry in this region. India and China are growing at the highest CAGR on account of ongoing developments in aerospace and automotive sector in these countries. North America is the second most significant region in the Global Thermoplastic Honeycomb Market. U.S. is the major shareholder of this regional market owing to the growth of established end use industries such as aerospace and sports industry. The U.S. aerospace companies are expected to continue leading the global aerospace market over the forecast period. Europe is one of important regions in the Global Thermoplastic Honeycomb Market. Germany, U.K, and France are the leading markets in this region, which is attributed to the presence of renowned automotive industries. European automotive industry is evolving with the advent of light weight, energy efficient, and electric vehicles. Middle East & Africa is estimated grow at significant CAGR due to upcoming FIFA world cup in 2022, which is to be held at Qatar. This in turn would drive the growth of sports industry in this region which may increase the demand of Thermoplastic Honeycomb. Latin America is currently holding smaller share of the Global Thermoplastic Honeycomb Market. During the forecast period the region is projected to witness moderate growth.
Segmentations
The Global Thermoplastic Honeycomb Market has been segmented into type, end use industry, and region. On the basis of type, the market is divided into Polypropylene Honeycomb, and Polycarbonate Honeycomb, wherein the use of Polypropylene Honeycomb for making core is the leading segment. Based on end use industry the Global Thermoplastic Honeycomb Market is segmented into aerospace, automotive, construction, sports, wind energy and others. Among these industries, aerospace is holding major share of overall demand of thermoplastic honeycomb. Geographically, the market is divided into five key regions, including Asia Pacific, North America, Europe, Middle East & Africa, and Latin America.
Industry/ Innovation/ Related News:
July 25, 2019 -EconCore N V (Belgium), a leading manufacturer of honeycomb sandwich panels and parts, announced its partnership with Ultrapolymers Group NV ((Belgium), a leading distributor of rubber and plastics products and DuFor Polyester Specialties (the Netherlands), a leading developer of custom-made polyesters to develop recycled PET thermoplastic honeycomb. The project to develop a thermoplastic honeycomb core made from recycled PET is funded by the Flemish Government. EconCore offers a worldwide patented process for continuous and cost-effective production of thermoplastic honeycombs whereas, Ultrapolymers and DuFor have extensive knowledge & expertise in processing PET and recycled PET (rPET) polymers.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 0.81 Billion |
| Market Size 2024 | USD 0.85 Billion |
| Market Size 2032 | USD 1.26 Billion |
| CAGR | 5.10% |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2019 & 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, End-Use Industry and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Plascore (Germany), Corex Honeycomb (U.K.), EconCore (Belgium), Universal Metaltek (India), Design Composite GmbH (Austria), Nidaplast (France), Tubus Bauer GmbH (Germany) and others. |
| Key Market Opportunities | Moisture resistance, easy application and customization of sheets into desired shapes. |
| Key Market Drivers | The sluggish demand of metal honeycomb structure. The constant growth of construction segment |
Thermoplastic Honeycomb Market Highlights:
Frequently Asked Questions (FAQ) :
Polypropylene honeycomb and polycarbonate honeycomb are the main types of thermoplastic honeycomb that reduces wastage of material by providing a material with great strength and low density.
Sub-segments polypropylene honeycomb by type and aerospace by the end use industry are expected to remain the major shareholding segments in the global thermoplastic honeycomb market.
Widely uses across major industries such as sports and automotive, Spurting rise in the global economy.
Asia Pacific holds the largest share in the global thermoplastic honeycomb market, followed by North America and Europe, respectively.
Corex Honeycomb (UK), Plascore (Germany), EconCore (Belgium), Design Composite GmbH (Austria), Universal Metaltek (India), Nidaplast (France), and Tubus Bauer GmbH (Germany), are some of the major players operating in the thermoplastic honeycomb market.
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