Aluminium honeycomb is a robust, lightweight material that is frequently utilised in the automotive and aerospace industries. It is created by adhering thin aluminium sheets in the shape of a honeycomb. In order to build a lightweight construction, this pattern creates tiny pockets that may be filled with air or other materials. Aircraft wings, fuselages, and other components that must be both strong and lightweight frequently use aluminium honeycomb.
Global Aluminium Honeycomb Market Driving Factors and Challenges
The shipping industry's growing need is one of the main factors propelling the aluminium honeycomb market's expansiosn. Maritime transport is seen as a vital kind of transport, boosting global trade. Over 90% of global trade is conducted by sea, and shipping is seen to be the most economical way to move goods and raw resources around the world. Aluminium advantageous mechanical qualities are the main reason for the shipping industry's growing need for aluminium honeycomb. In terms of lightweight, stiffness, recyclability, non-toxicity, energy efficiency, and insulation, aluminium honeycomb is used extensively in ships. The marine industry uses aluminium honeycomb extensively for a variety of purposes, which fuels the market's expansion.
One of the biggest obstacles facing the aluminium honeycomb market will be the fluctuation in aluminium prices. Increased price volatility would cause makers of aluminium honeycomb to become undecided about the selling price of their product, even if rising aluminium prices would result in higher prices for aluminium honeycomb. The variations in aluminium prices result in disparities in the earnings obtained by various producers of aluminium honeycomb. Furthermore, due to consumer choices, there may be a decline in the market for aluminium products, such as aluminium honeycomb, as a result of price fluctuations.
Impact of COVID-19 on Global Aluminium Honeycomb Market
Due to supply chain disruption and government-imposed lockdown measures, the COVID-19 outbreak has interrupted industrial activities in the automotive, aerospace, and marine industry, resulting in a global decline in demand for aluminium honeycomb panels. During the predicted period, Europe had the greatest market size in terms of consumption.
Aluminium Honeycomb Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Argosy International Inc., Alucoil, Bostik, Coach Line Industries, Covestro, Corex Honeycomb, Plascore, Universal Metaltek, Benecor, Inc., Motonity Private Limited, Toray Advanced Composites, and EconCore.
Global Aluminium Honeycomb Market Segmentation:
By Type: Based on the Type, Global Aluminium Honeycomb Market is segmented as; High-Quality Grade, Regular Grade.
By Application: Based on the Application, Global Aluminium Honeycomb Market is segmented as; Aerospace, Automotive, Construction, Defense, Energy, Marine, Transportation.
By Product: Based on the Product, Global Aluminium Honeycomb Market is segmented as Bare, Coated, Corrugated, Perforated.
By Sales Channel: Based on the Sales Channel, Global Aluminium Honeycomb Market is segmented as; Direct sales, Distributors.
By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.