The global aluminum honeycomb panel market is expected to grow from USD 357,000,000 in 2016 to USD 741,700,000 by 2023. This growth is due to increased lightweight materials usage in various industries. The aluminum honeycomb panels are easy and quick to install as well as being both fire-resistant and durable. The report segments the market by product, application, end-use and region.
Aluminum honeycomb panels are a lightweight and strong material which can be used for a number of different purposes across various industries. Their high strength makes them easy to install, and with their light weight, you'll save time and money by having them shipped to your site rather than installing premade heavy materials.
What the key findings from global aluminium honeycomb panel market are?
The major share of the Aerospace market can be attributed to aluminium honeycomb panels. They provide increased strength-to-weight ratios and are used in rockets, aircraft, jet engines, and propellers. The material has also begun to find usage in other non-aerospace structures, like wind turbine blades, which could further drive demand.
The demand for aluminium honeycomb panels by construction industry is expected to grow significantly over the forecast period. Architectural application of these panels, such as interior walls, floors, facades, elevator panels, and tables are the major consumer. Architects have an interest in innovative and artistic ceiling and wall claddings with airtight properties due to the excellent properties of these panels.
In 2016, the largest share of the market for aluminium honeycomb panel is in Asia-Pacific. According to the article, the reason for its growth is from the demand for aircraft in countries like India and China. Another important reason cited is increasing public investment in defence projects in Asian countries.
Aluminium honeycomb panel- a versatile material that can adapt to application
Aluminium Honeycomb Composite Panel is gaining popularity in numerous commercial applications which demands strength, flatness and lightweight. Owing to its unique structure, stability, non-radioactive nature makes them versatile material adapted to the needs of multiple applications. Moreover, highly recyclable, aluminum honeycomb panel offer environmentally friendly solution to the industry ranging from retail to high-end engineering systems. High mechanical properties and good fire proof performances of these panels have led to increased penetration in shipbuilding and railway sector.
Aluminium honeycomb panel market trends and insights
The largest regional market for honeycomb panels is the Asia-Pacific region. This increase in demand is because of stronger spending for defense, aerospace, and industrial companies resulting in the consumption of smart materials--aluminium honeycomb panels. The China, India, and Japan are contributing towards this growth and provide a future market for manufacturers to branch out into. North America is the second largest region for aluminium honeycomb panel production but with the global demand only increasing at a “healthy” rate. Europe has been identified as the greatest contributor to global demand with their strong automotive and aircraft industries. South America and Middle Eastern countries will also contribute to this growth.