Spain Brazil Russia France Germany China Korea Japan

Artificial Intelligence driven Marketing Communications

Non-Honeycomb Sandwich Panel Core Materials Market Size Forecast to Reach $1.04 Billion by 2025


Non-Honeycomb Sandwi

iCrowdNewswire   Oct 19, 2020  10:10 AM ET

Non-Honeycomb Sandwich Panel Core Materials Market size is forecast to reach $1.04 billion by 2025 after growing at a CAGR of 6% during 2020-2025. Non-Honeycomb sandwich panel core materials which is composite configuration that consists of high strength composite facing sheets bonded to lightweight foam, balsa, or honeycomb core. The growth of the market of non-honeycomb sandwich panel core materials is expected to be driven by the high demand from the aerospace industry. The other growth factor is construction industry which is using non-honeycomb sandwich panel core materials for manufacturing of light weight parts.

By Material Type-Segment Analysis

Foam held the largest share in the non-honeycomb sandwich panel core materials market. The material composition of foams provides unique mechanical properties well suited to subsea applications below 700 meters depth. High compressive strength, high buoyancy per kilogram and low water absorption make foams ideal for subsea applications requiring high performance and long lifetime. Special formulations of the material can also meet extreme requirements with regard to temperature or fire resistance. Foams are formulated to meet specific depth and buoyancy requirements down to 10,000 meters. The foam is available in blocks, semi-ready, to print or finished products such as low drag buoys, modular buoyancy, and any kind of umbilical systems as well as well-protecting structures.

Request for Sample of the Report @ https://www.industryarc.com/pdfdownload.php?id=501678

Report Price: $ 4500 (Single User License)

By Application- Segment Analysis

Aircraft engines segment held the largest share in the non-honeycomb sandwich panel core materials market in terms of application in 2019. Non-honeycomb sandwich panel core materials can be as much as 40 times stronger than laminates in certain scenarios, for instance, and often offers better weight-to-strength ratios. Also, load carry and load transference are much greater in honeycomb than in laminate. Therefore, non-honeycomb sandwich panel core materials are suitable for making aircraft engines. Rise in replacement of aging aircraft has led to boost in new aircraft manufacturing, which in turn is expected to drive the growth of the market. The market is expected to witness increasing demand for lightweight materials in an attempt to improve the cost-efficiency and environmental performance of aircraft. Hence, high strength, lightweight fiber-reinforced composites are gaining prominence in aircraft manufacturing, to increase fuel efficiency, decrease emissions, and reduce material usage, thereby allowing installation of new functions. This will derive the market of non-honeycomb sandwich panel core materials in the forecast period.

By End Use- Segment Analysis

Construction sector held the largest share in the non-honeycomb sandwich panel core materials market 2019 growing at CAGR of 8%. Non-honeycomb sandwich panel core materials are use in the ceiling, floor and other in the construction because of its lightweight property. The growth of non-honeycomb sandwich panel core materials market can be taken as directly proportional to the growth of construction industry. By 2020, construction output is estimated to grow by 70% to $12.7 trillion and will account for 14.6% of the world output with some of the larger emerging markets such as China, India, Russia, Brazil and Poland driving growth, along with U.S. Global GDP growth of 3.5% and 3.6% is expected in 2017 and 2018 respectively however the meteoric growth that outpaces global GDP will be concentrated in countries like China, India and U.S. India will overtake Japan as the third-largest construction market with annual growth averaging 7.4% annually in construction. Government buildings and public institutions are other major consumers of Fire Retardant coatings, which is further projected to boost the market of non-honeycomb sandwich panel core materials.

Geography-Segment Analysis

APAC dominates the non-honeycomb sandwich panel core materials market with a share of 40% followed by North America and Europe. The economy of APAC is mainly influenced by the economic dynamics of countries such as China and India, but with growing foreign direct investment for economic development of South East Asia, the current scenario is changing. Countries in South East Asia are witnessing high growth in the aerospace industry. Rise in replacement of aging aircraft has led to boost in new aircraft manufacturing, which in turn is expected to drive the growth of the market. The market is expected to witness increasing demand for lightweight materials in an attempt to improve the cost-efficiency and environmental performance of aircraft. Hence, high strength, non-honeycomb sandwich panel core materials are gaining prominence in aircraft manufacturing, to increase fuel efficiency, decrease emissions, and reduce material usage, thereby allowing installation of new functions. The coronavirus pandemic has had far-reaching consequences beyond the spread of the disease and efforts to quarantine it. As the pandemic has spread around the globe, concerns have shifted from supply-side manufacturing issues to decreased business. The current epidemic outbreak has deeply influenced consumers’ daily life and in addition to the impact on aerospace industry. In commercial aviation, companies are experiencing disruption in production and slowing demand as workers go home, passengers stop traveling, and customers defer delivery of new aircraft. Demand for spare parts is also down since less maintenance is currently required. Aircraft manufacturers are capital intensive by nature, thus raising short-term concerns about cash flow and liquidity. This factor will affect the growth of the market for the year 2020.

Drivers-Non-Honeycomb Sandwich Panel Core Materials Market

Investment in the field of satellite manufacturing

The non-honeycomb sandwich panel core materials are used to manufacture panels for satellite due to its high stiffness and low weight requirements. The demand for satellite networks and services for commercial applications has increased. The growing utilization of commercial satellite platforms for dual purposes, which include military and civil, is also providing growth opportunities. Significant investments by the venture companies, the growing demand for low-cost miniaturized satellites, and increasing demand for Earth observation applications are some of the major driving factors propelling the growth of the non-honeycomb sandwich panel core materials market.

Growth In the Field of marine Industry will drive the market

The marine Industry is the primary market for non-honeycomb sandwich panel core materials. Non-honeycomb sandwich panel core materials is used in various marine applications and is becoming the go-to material for critical substructures in ship decorations, interiors and furniture. Rise in the number of leisure marine travelers, vast expansion of the seaborne transport industry, advent of technologically advanced and highly reliable engines, economic stability, and rising disposable incomes are the major factors that have driven the non-honeycomb sandwich panel core materials market in the forecast period.

Talk to one of our sales representative about the full report by providing your details in the link below:

https://www.industryarc.com/support.php?id=501678

Challenges- Non-Honeycomb Sandwich Panel Core Materials Market

High Manufacturing Cost can restrict the Growth of the Market

The manufacturing cost of non-honeycomb sandwich panel core materials is high. That’s why when the end use industry manufacture a product based on non-honeycomb sandwich panel core materials its cost also increased. Secondly, the raw material which is used in the production of global non-honeycomb sandwich panel core materials is also costly. These are the major restraint which affect the market of non-honeycomb sandwich panel core materials in near future.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the non-honeycomb sandwich panel core materials market. Major players in the non-honeycomb sandwich panel core materials market are 3A Composites, Armacell International S.A., Changzhou Tiansheng New Materials Co. Ltd., Diab Group, Euro-Composites S.A and others.

Acquisitions/Technology Launches/Product Launches

In January 2020, The Global advanced fabrics company, Low & Bonar have signed a license agreement with EconCore, the thermoplastic honeycomb technology leader, for the use of their non-honeycomb sandwich panel core materials technology.

In March 2020, The EconeCore launched Recycled polyethylene terephthalate (rPET) honeycomb which is now commercially ready and available to license from EconCore. The company successfully conducted two years of research, learning how to optimally process the reusable resource-based polymer into its continuously produced honeycomb core.

Key Takeaways

Asia-Pacific dominates the non-honeycomb sandwich panel core materials market owing to increasing demand from construction industry.

The increase in production of various aircrafts and growth in the space industry is the key factors that drive the non-honeycomb sandwich panel core materials market.

The high cost of production and high price of raw materials cost are the major restraint for the growth of the non-honeycomb sandwich panel core materials market.

Related Reports:

A. Honeycomb Core Materials Market

https://www.industryarc.com/Research/Honeycomb-Core-Materials-Market-Research-503030

B. Honeycomb Sandwich Material Market

https://www.industryarc.com/Research/Honeycomb-Sandwich-Material-Market-Research-501436

About IndustryARC : IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.



Contact Information:

Venkat Reddy
Sales Director
Email: venkat@industryarc.com
Website: https://www.industryarc.com
Phone: (+1) 970-236-3677






Keywords:    Non-Honeycomb Sandwich Panel Core Materials Market, Non-Honeycomb Sandwich Panel Core Materials Market size, Non-Honeycomb Sandwich Panel Core Materials Market industry, Non-Honeycomb Sandwich Panel Core Materials Market share, Non-Honeycomb Sandwich Panel Core Materials top 10 companies, Non-Honeycomb Sandwich Panel Core Materials Market report, Non-Honeycomb Sandwich Panel Core Materials Market industry outlook

Tags:    Reportedtimes, Wire, Extended Distribution, iCN Internal Distribution, Research Newswire, English