Aramid Honeycomb Core Material Market Anticipated to Reach US$ 845 Million by 2034 with a Remarkable 12.60% CAGR Driven by Unyielding Commitment to Nonstop Improvement | Future Market Insights, Inc.
Aramid honeycomb core materials are the type of high strength, lightweight, nonmetallic materials which are manufactured from aramid fiber paper with the emblematic hexangular cell shape. After the honeycomb is formed, it is encrusted with a heat resistant phenol resin to enhance its strength and thermal properties. Anticipated 12.70% CAGR in the US aramid honeycomb market till 2034, surpassing US$ 156.7 million.
NEWARK, Del, Feb. 05, 2024 (GLOBE NEWSWIRE) — The global aramid honeycomb core material market value is expected to rise from US$ 267.2 million in 2024 to US$ 845 million by 2034. This market is expected to register a CAGR of 12.60% over the next decade.
The growth of the market is associated with an unwavering commitment to nonstop improvement. Market players are deliberately choosing to prioritize the constant refinement of their products, processes, and customer experiences to position themselves as market leaders.
Sales of aramid honeycomb core material are rising on account of the increasing demand for lightweight materials in automobiles and the aerospace industry. In the marketspace, players are strategizing for excellence to not only meet the present demands of the market but also proactively get ahead with the help of perpetual evolution.
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“Market players are embracing a culture of adaptability and innovation to create a dynamic framework that permits them to embrace new trends, navigate uncertainties, and maintain a competitive edge. Continuous improvements are thus a cornerstone for sustained market growth in this constantly evolving aramid honeycomb core material market,” says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)
Key Takeaways from the Aramid Honeycomb Core Material Market Report
- The aramid honeycomb core material market grew at a CAGR of 13.2% 2019 to 2023. The market is estimated to expand at a 12.6% CAGR through 2034.
- The United States aramid honeycomb core material industry is pegged to achieve US$ 156.7 million by 2034, expanding at a CAGR of 12.7% during the forecast period.
- The United Kingdom market is slated to achieve US$ 35.5 million, expanding at a CAGR of 13.9% through 2034.
- In Asia Pacific, China, Japan, and South Korea are projected to be important consumers of aramid honeycomb core materials.
- The nomex segment is projected to register a CAGR of 12.5% through 2034.
- The interior application is expected to be a prominent segment in upcoming years. The application is expected to record a CAGR of 12.3% through 2034.
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Competitive Landscape
Players in the aramid honeycomb core material market are experiencing fierce competition and tight margins. As a result, they are vigorously employing multiple strategies to have an upper hand in the market. Industry participants are taking a customized route to differentiate themselves from their peers, especially in high-value applications like defense and aerospace, for higher returns.
A go-to-market strategy for industry players is developing new aramid honeycomb core materials with unique performance characteristics. To achieve these characteristics, players are exploring different resin systems, cell sizes, and aramid fiber types.
Recent Developments
- In July 2023, teachers, graduates, and students of the Hong Kong Institute of Vocational Education (IVE) together developed a new car to contest in the October World Solar Challenge 2023 in Australia. This eighth-generation solar-powered car developed by engineers of IVE is called Sophie 8. Drawing inspiration from the previous version, Sophie 6, the team created a lightweight and strong car body with the help of carbon fiber and aramid honeycomb core materials.
- In August 2021, the Corex team made the announcements about its Exhibit at Railtex 2021, which took place at the NEC, Birmingham. The 15th edition of Railtex focused on Infrarail, at the rail infrastructure supply chain. Visitors saw samples of an entire product portfolio on the Corex Honeycomb stand. These samples included SuperFlex flexible honeycomb, Kevlar® and Nomex® aramid paper honeycomb core, polypropylene honeycomb, and aluminum.
Notable Players in the Aramid Honeycomb Core Material Market
- Hexcel Corporation
- Plascore, Inc.
- The Gill Corporation
- EURO-COMPOSITES
- ACP Composites, Inc.
- Toray Advanced Composites
- Argosy International Inc.
- Showa Aircraft Industry Co., Ltd.
- Teijin Aramid B.V.
- HONEYCOMB CELLPACK A/S
- DuPont
- Honeylite
- Schütz GmbH & Co. KGaA
- Advanced Honeycomb Technologies
- Aramicore Composite Co., Ltd.
- Huvis
- Corex Honeycomb
- China National Bluestar (Group) Co, Ltd.
- TAEKWANG INDUSTRIAL CO. LTD.
- Tasuns Composite Technology Co. Ltd.
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Key Segments Covered in the Aramid Honeycomb Core Material Market Report
By Type:
- Nomex
- Others
By Application:
- Interior
- Exterior
By Transportation Type:
- Airways
- Railways
- Waterways
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
Author by:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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