Aluminium Honeycomb Panel- Bringing Change to the Material Industry, Expanding at a CAGR of 12.06% during 2019 – 2025
Hunan China, May. 20, 2020 -- Global Aluminium honeycomb panel market size is expected to grow from USD 542.96 Million in 2019, to USD 1384.47 Million in 2025, at a CAGR of 12.06% from 2019 to 2025. Factors propelling the growth of market include growing usage of lightweight material in automotive, construction and aerospace industry. The aluminium honeycomb panel due to its enhanced performance and ease of installation and surface treatment is becoming material of choice across various markets. The report segments the Aluminum honeycomb panel market by Product (Standard Aluminum Panels, Structural Panels), by Application (Curtain Wall, Cladding, Elevator Panels, Roof Ceiling, Shelves, Facade, Others), by End-Use(Construction, Display, Defence, Aerospace, Transportation, Marine, Others) and by region (North America, Europe, Asia-Pacific, South America, Middle East and Africa). The report studies the global Alumnium honeycomb panel market over the forecast period (2019-2025).
Aluminum honeycomb panel are composite material with honeycomb geometry reducing the amount of material needed. The panels are lightweight and have high strength providing easy handling and installation to match any design. Aluminum honeycomb structure finds application across various industries including construction, aerospace, defense, wood furniture and automotive. The panels are used as a core, sandwich panel and number of working surfaces.
Key Findings from Global Aluminium Honeycomb Panel Market
Usage of Aluminium honeycomb panel in Aerospace application is accounted to hold the major share of the market in 2019. The use of aluminium honeycomb panels provides better strength to weight ratio as compared to any other material. The material finds its application in rockets, aircraft, jet engines, and propellers. Further, usage in non-aerospace structures, such as wind turbine blades has led to greater demand for these panels
Demand for aluminium honeycomb panel by construction industry is expected to grow at significant rate over the forecast period. Architectural applications such as interior walls, floors, facades, elevator panels, tables, shelving, and others are the major consumer of aluminium honeycomb panels. Moreover, owing to excellent properties these panels are preferred for innovative and artistic ceiling and wall claddings
Geographically, Asia-Pacific is the largest market for Aluminium honeycomb panel market in 2019. The growth in the region is primarily due to increasing demand for various types of aircraft in growing economies such as India and China. Further, increasing public investment in aerospace, marine, and defense sectors in the region has led to higher demand for these smart materials
Key players in Aluminium honeycomb panel Market are Hunan Huabond Technologies Co., Ltd., Huazelion Industrial Limited and Hua aluminum Group are among others.
Aluminium honeycomb panel- versatile material adapting the need for various 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- Regional Insight
Asia-Pacific represents largest region for the growth of Aluminum honeycomb panel market. More government and private spending in defence, aerospace and industrial sector has led to the adoption of smart material, thus increasing demand for aluminium honeycomb panel across these industries. China, India and Japan are the key regional markets in the region offering pool of opportunities for the manufacturers. The production of aluminum honeycomb composite material has seen high in the china and is expected to increase at significant rate. North America the second largest region in the global aluminum honeycomb market is expected to generate the demand for aluminium honeycomb panels at healthy rate. The increasing demand is attributed to presence of well-established aerospace, defense and construction sector. Further technical innovation would propel the increasing demand over the forecast period in the region. Europe, as a leading region for automotive and aerospace is continuously seeking new smart materials driving the demand of honeycomb panels. Rising demand from South American nations and Middle-East countries provide momentum to the global aluminum honeycomb panel market.
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