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The thermoplastic honeycomb market is predicted to reach a significant market price and a CAGR of 5.10% by the 2022-2030 forecast period.
The construction of the honeycomb structure involves the fusion of a tiny hollow hexagonal shape. The primary benefit of the hexagonal form is that it lowers material waste and production costs. These constructions also offer a low-density, highly durable material. The structure includes ease of application, moisture resistance and the ability to mould sheets into a specific configuration. The thermoplastic honeycomb benefits lamps and lighting control because of its clarity. These are also employed in LED lighting technologies for ornamental and commercial purposes.
Because of its recyclable nature, thermoplastic honeycomb is eco-friendly. Lightweight materials are increasing in demand for that usage in the aircraft sector. Globally, the aerospace market is expanding at the greatest CAGR, which is predicted to drive the growth of the thermoplastic market.
The combination of several damage mechanics like low velocity, shock and abrasion leads to distortion in structure due to the non-elastic nature of the material. Due to this, the thermoplastic honeycomb market is expected to increase at a slower rate. The market may be able to maintain its speed with the support of researchers looking for new advanced materials to address this issue.
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Market Segments
The thermoplastic honeycomb market is divided into the market type and end-use.
Based on the market type, the thermoplastic honeycomb is segmented into polycarbonate honeycomb and polypropylene honeycomb.
Based on the end-user, the thermoplastic honeycomb is segmented into construction, aerospace, automotive, wind energy and sports.
Key Players
Plascore (Germany), Corex Honeycomb (U.K.), EconCore (Belgium), Universal Metaltek (India), Design Composite GmbH (Austria), Nidaplast (France), Tubus Bauer GmbH (Germany) and others.
Regional analysis
The global thermoplastic honeycomb market has been analyzed in major regions, including Europe, Latin America, Asia-pacific, North America, the Middle East and Africa.
Asia-pacific is dominating the thermoplastic honeycomb market among the above regions. The rising need for inexpensive materials in the construction, automotive and aerospace industries is responsible for expanding the market. China and India are expanding at the greatest CAGR due to continuous improvements in the automotive and aerospace sectors.
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Globally, North America ranks as the second largest region in the thermoplastic honeycomb market. Due to the expansion of well-established end-use industries, the United States is the largest shareholder in this market. Over the forecast period, the American aerospace industry will be predicted to maintain its dominance in the world aerospace market.
Europe is also one of the major regions in the global thermoplastic honeycomb market. Germany, France, and the United Kingdom are the largest markets due to the existence of automotive sectors. The automotive industry in Europe is changing with the rise of lightweight, electric and eco-friendly automobiles.
The Middle East and Africa are predicted to develop at a high CAGR due to the FIFA world cup in 2022. This would fuel the expansion of the sports business in this area, which might raise demand for thermoplastic honeycomb.
The thermoplastic honeycomb market is less dominant in the Latin America region. The region is expected to experience a marginal increase in the forecast period.
Industry news
In august 2022 – Econcore, a manufacturer of honeycomb sandwich material technology in Leuven, Belgium, presents its ideas which will significantly advance the circular economy. The group offers lightweight polypropylene honeycomb panels, which will be a replacement for plywood, conventional materials and other monolithic panels.
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