Honeycomb Board Market

Global Honeycomb Board Market Forecast

• Global honeycomb board market revenue worth US$2.8 Bn in 2023 poised to reach US$4.3 Bn by 2030
• Market size projected for a CAGR of 6.5% between 2023 and 2030

Quick Report Digest

1. The key trend anticipated to fuel the honeycomb board market growth is growing customisation and design flexibility. Furthermore, honeycomb boards are becoming increasingly well-known for flexibility and versatility. Customising these boards to fit particular applications in the furniture, automotive, and construction industries is becoming increasingly common, meeting various end-user demands.
2. Another major market trend expected to fuel the honeycomb board market growth is the rapidly increasing integration of digital technologies. A growing trend in the honeycomb board market is integrating digital technology, such as smart packaging solutions. These technologies improve the efficiency of the supply chain overall, improve traceability, and offer real-time data.
3. Manufacturers of honeycomb boards may need help complying with changing environmental requirements and standards. Stricter environmental regulations may necessitate ongoing modifications to materials and production methods, which would increase complexity and expense.
4. In 2023, the metal category dominated the industry. The strength of metal and the lightweight of honeycomb structures are combined in metal-cored honeycomb panels. Boat interiors and structural components can be used in marine applications.
5. Regarding global market share for honeycomb boards, the reinforced segment is anticipated to dominate. Modern furniture design trends and sustainable furniture manufacturing are aided by using honeycomb boards to make lightweight yet durable furniture components.
6. In 2023, the packaging category controlled the market. Honeycomb boards are an excellent choice for packing delicate electrical devices because of their protective qualities and lightweight, which act as a safe barrier against potential damage.
7. The Asia Pacific region is anticipated to account for the largest share of the global honeycomb board market, owing to the Asia Pacific region, a significant hub for automotive manufacturing, which is driving the need for honeycomb boards in automotive components such as interior panels and structural parts. The automobile industry is focused on lightweight materials to increase fuel efficiency.
8. The market for honeycomb boards is expanding in North America because honeycomb boards are utilised in the building sector for several purposes, such as panels, doors, and partitions. The continuing construction and remodeling projects in North America partly drive the need for honeycomb boards.

A Look Back and a Look Forward - Comparative Analysis

Advanced composite materials improve the structural qualities of honeycomb boards. Increases in strength, durability, and resistance to environmental variables result from innovations in core materials, fiber reinforcements, and resin systems. Applications in the automotive and aerospace industries notably benefit from this.

Incorporating nanostructured materials into honeycomb boards improves their performance and mechanical qualities. The range of uses for honeycomb boards is increased by the ability to manipulate materials at the nanoscale through nanotechnology, improving their strength, stiffness, and other useful qualities.

The market witnessed staggered growth during the historical period 2018 – 2023. This is due to the substantial growth of the major end-use application sectors such as aerospace, automotive, marine, construction, packaging, and misc. However, production costs decrease overall as the honeycomb board manufacturing procedures become more efficient. For enterprises searching for high-performance materials at competitive rates, honeycomb boards are an appealing alternative due to their cost-effectiveness.

Honeycomb boards help lighten the load on electric vehicle components as the market for these vehicles grows, increasing the range of the vehicle between charges in the coming years. Honeycomb boards are also used to optimise the total weight distribution to build robust, lightweight enclosures for electric vehicle batteries. Furthermore, a quieter and more comfortable driving environment can be achieved by using honeycomb boards for interior components to lessen noise and vibrations during the next five years.

Key Growth Determinants

• Growing Demand from Packaging Industry

Honeycomb boards are extremely strong despite their inherent lightweight. Honeycomb boards are a suggested choice for packaging because they reduce the package's overall weight, reduce transportation costs, and boost efficiency.

Honeycomb boards have extraordinary structural strength because of their distinctive hexagonal cell structure. Honeycomb boards are an excellent choice for packing delicate and priceless things because of their strength, which is essential for safeguarding packaged goods during handling and shipping.

Honeycomb boards provide outstanding impact resistance and shock absorption qualities. Because of this, they are perfect for packaging applications where maintaining the integrity of the packaged goods against damage from bumps, vibrations, and harsh handling is crucial.

• Light Weight, High Strength, and Durability

Honeycomb boards' lightweight design helps to save transportation expenses. Using lightweight materials like honeycomb boards can result in cost savings and better operational efficiency in sectors like shipping and logistics, where transportation charges play a major role.

Using lightweight materials becomes essential as the transportation industry seeks to increase fuel economy and lower carbon emissions. Due to their lightweight design, honeycomb boards help reduce fuel consumption in various transportation applications, such as airplanes and cars.

The aerospace industry places a premium on lightweight, high-strength materials because aircraft performance and fuel efficiency depend on reducing the aircraft's total weight. The market for honeycomb boards is expanding because they are used in airplane components.

• Expanding Advantages in Transportation and Logistics

The exceptional strength-to-weight ratio of honeycomb boards is well known. This quality makes them perfect for use in the transportation of goods, where it's critical to minimise weight without sacrificing structural integrity to maximise fuel efficiency and overall operational effectiveness. Honeycomb boards provide excellent impact resistance.

The ability of honeycomb boards to absorb shocks helps safeguard the packaged objects in the transportation and logistics industry, where commodities may be exposed to rough handling, vibrations, and potential impacts during transit. The resistance of honeycomb boards to moisture and temperature changes is good. This function is useful for transportation, particularly when products are shipped via climate-variable locations.

Major Growth Barriers

• High Initial Investments

Honeycomb board manufacturing requires specialised equipment and technologies created for the manufacturing process. Large initial investments are needed to purchase and install these sophisticated equipment parts, which may be prohibitive for smaller or inexperienced players.

Considerable funds may need to be allocated towards creating and refining the procedures needed to produce high-quality honeycomb boards. To make sure that the boards can effectively compete in the market and meet industry standards, research and development (R&D) investments are crucial.

• Competition from Substitute Materials

Conventional packaging materials, including foam, wooden crates, and corrugated cardboard, have been utilised extensively in various industries. These materials are formidable competitors due to their proven use and familiarity, particularly when the unique features of honeycomb boards are not considered essential.

Plastic materials' lightweight and versatile properties, such as expanded polystyrene (EPS), polyethylene, and polypropylene, make them popular packaging choices. In applications where plastic's affordability and ease of manufacture are important, adopting plastic substitutes may put honeycomb boards in competition.

Key Trends and Opportunities to Look at

1. Growing Popularity of Sustainable Practices

Paper and cardboard are common recyclable materials used to make honeycomb boards. Honeycomb boards are a desirable option for environmentally concerned enterprises because of their recyclability, which reduces waste and supports the circular economy concepts.

Because honeycomb boards are lightweight, shipping has a smaller environmental impact because of cheaper transportation expenses. Furthermore, the recyclability of honeycomb boards lessens their overall environmental effect compared to materials that cannot be recycled.

2. Rising Demand in e-Commerce Sector

Honeycomb boards are easily customisable to fit different product sizes and shapes. Custom packaging solutions provide a safe fit for various products and increase versatility in the e-commerce industry, where many products are transported.

The global e-commerce industry's growth, driven by rising e-commerce trends and digitisation, offers a substantial growth opportunity for the honeycomb board market. The need for effective and safe packing solutions is predicted to increase as e-commerce expands.

3. Rising Demand in Construction and Building Materials

Honeycomb boards are used to construct panels, doors, and separators. Despite being lightweight, honeycomb boards are useful for creating structural components because of their strength and longevity.

Because of its adaptability in both design and use, honeycomb boards can be used for a wide range of building materials. They give architects and builders versatility in design and construction because they may be utilised in various architectural aspects, such as floors, furniture, and ceilings.

How Does the Regulatory Scenario Shape this Industry?

Over the last three years, The Forest Stewardship Council (FSC) is a global non-profit that advocates for sustainable forest management across the globe. The FSC approval guarantees that the wood and paper-based components used in honeycomb boards come from ethically managed forests, which impacts the product. The FSC accreditation shows a manufacturer's dedication to ethical and sustainable sourcing for honeycomb boards.

Relevant standards for testing and determining the mechanical properties of paper and board are ISO 7326:2016 (Paper, board, and pulps Measurement of edgewise compressive strength) and ISO 1924-3:2018 (Paper and board Determination of tensile properties Constant rate of elongation method). Compliance with ISO standards guarantees that honeycomb boards satisfy particular mechanical and strength specifications, thereby serving as a foundation for quality control in the marketplace.

A standard practice for creating and curing test specimens of hexagonal cell cellular concrete, (ASTM) International (formerly known as the American Society for Testing and Materials) C419-14, may be useful for assessing and testing cellular structures, albeit it is not specifically related to honeycomb boards. Adherence to pertinent ASTM standards offers a product quality, safety, and performance benchmark.

Fairfield’s Ranking Board

Top Segments

1. Metal Category Continues to Win Preference over Non-Metal Segment

The metal segment dominated the market in 2023. They are well-known for having an exceptional strength-to-weight ratio, excellent structural integrity, a high load-carrying capacity, and resistance to compression, all of which make them appropriate for uses requiring strong and long-lasting materials.

Furthermore, their low weight drives the category market due to lower structural requirements, easier handling, and cheaper shipping costs, especially in the aerospace, automotive, and transportation industries.

The non-metal category is projected to experience the fastest market growth because of its adaptability and customisability. Because they may be made from a range of materials, including paper, plastic, and composite fibers, customisation is possible depending on the needs of individual applications across a range of sectors.

The building, interior design, furniture, packaging, displays, marine, and renewable energy industries use these boards more frequently, leading to a notable market increase.

2. Demand for Reinforced Boards to be the Maximum

In 2023, the reinforced category dominated the industry. This is due to the panels, flooring, structural elements, and interiors of aircraft. The aerospace industry highly values honeycomb boards' excellent strength-to-weight ratio, which helps build lighter aircraft without sacrificing structural integrity.

Additionally, there are doorways, flooring, structural components, and interior parts. Honeycomb boards offer structural stability while reducing total weight and improving fuel efficiency in car light weighting efforts.

The non-reinforced category is anticipated to grow substantially throughout the projected period. In the graphics and signage sector, honeycomb boards are frequently utilised to produce strong, lightweight displays, exhibition graphics, and promotional signage.

Honeycomb boards are lightweight and convenient to handle and transport because of their rigidity, providing a stable base for colorful graphics and marketing materials.

3. Packaging Industry Eats up the Largest Share of Pie

The packaging segment dominated the market in 2023. the need for premium and visually appealing packaging. Honeycomb boards improve the overall presentation of high-end products by using premium packaging for luxury goods and their visual appeal and structural robustness. The need for solutions in specialised packaging.

The ease of customisation of honeycomb boards makes them ideal for creating packaging inserts that securely hold products during transportation, thereby mitigating the risk of damage. The automotive category is expected to experience the fastest growth within the forecast time frame due to the storage compartments, cargo covers, and trunk liners.

Honeycomb boards make strong, lightweight liners and covers that maximise storage areas without adding extra weight to the vehicle. Because honeycomb boards are lightweight, they can be used as sunroof components, which reduces the vehicle's overall weight and improves energy efficiency.

Regional Frontrunners

Asia Pacific Reigns Supreme as China, and India Stand Among the Largest e-Commerce Markets

Asia Pacific is expected to dominate the market. The Asia Pacific region is rapidly becoming increasingly populated and industrialised, driving demand for lightweight components, packaging, and building supplies. Because of its many uses, honeycomb boards are ideal for addressing these various demands. Infrastructure development, residential construction, and commercial projects are driving the robust growth of the construction industry in Asia Pacific.

Applications for honeycomb boards can be found in building materials, including panels, doors, and partitions, which help the building industry grow. China, and India, located in the Asia Pacific region, are two of the biggest e-commerce markets in the world. Honeycomb boards offer a great opportunity for usage in packaging applications due to the growing need for sustainable and protective packaging solutions in the e-commerce sector.

North America’s Growing Profits Lie in Aerospace and Defence Industry

North America is expected to be the fastest-growing region. North America is the center of technical innovation and superior manufacturing capabilities. As a result, the area is positioned as a center for producing premium honeycomb boards that satisfy demanding client and industry criteria. The aerospace and defence industry is one of North America's biggest honeycomb board markets.

The region's need for honeycomb boards is partly fuelled by the widespread use of these boards, which are lightweight and highly durable in airplane components. Companies looking for recyclable, and environmentally friendly alternatives to traditional packaging materials are turning to honeycomb boards, which are becoming increasingly popular in North America due to the growing emphasis on sustainable and eco-friendly packaging solutions.

Fairfield’s Competitive Landscape Analysis

A few global companies control most of the honeycomb board market. The leading businesses are creating new products and enhancing their distribution systems to expand their worldwide footprint. Moreover, Fairfield Market Research expects more consolidation over the coming years.

Who are the Leaders in Global Honeycomb Board Space?

• Hexcel Corporation
• Honicel Group
• Packaging Corporation of America
• Euro-Composites S.A.
• The Gill Corporation
• Argosy International Inc.
• Plascore Incorporated
• HONYLITE
• DuPont
• 3A Composites GmbH
• Grigeo, AB
• Armacell International GmbH
• Rebul Packaging

Significant Company Developments

New Product Launch

• August 2022: Alstone announced the launch of "Alstone Holcomb," a cutting-edge and futuristic material honeycomb. The new product is a lightweight panel of an inner honeycomb core of aluminum foils sandwiched between two aluminum alloy sheets.
• September 2021: L&L Products has announced the release of its new L-9060, which primarily enhances the conventional method of honeycomb panel reinforcements and aids in strengthening aeronautical interior sandwich panels. The recently created product helps to lower the carbon output, fuel consumption, and total weight of aircraft because it is lightweight, odorless, and simple to use.
• February 2021: ThermHex launched its honeycomb core, which has a height of 20 mm and a cell size of 5 mm. It is specifically made for Class A surface quality. Because of the smaller cell size, the surface quality was enhanced, and a wider range of applications, such as visible interior and exterior surfaces, were made possible.

Distribution Agreement

• September 2020: Bostik, EconCore, a leader in thermoplastic honeycomb core technology, and Toray Advanced Composites collaborated to create FST-certified thermoplastic honeycomb panels for use in mass transit applications, like interiors of airplanes.
• February 2019: Green & Light and BASF SE collaborated to create advanced Elastoskin, a car trunk floor made of honeycomb board. Due to this creative innovation, automobile makers could reduce the trunk floor's weight by 20% without sacrificing the strength of its constituent parts.

An Expert’s Eye

Demand and Future Growth

Intricate and personalised designs are possible in producing honeycomb boards due to 3D printing technology. This invention makes it easier to produce honeycomb structures with exact geometries that satisfy particular performance standards for various applications.

Furthermore, honeycomb boards' improved thermal insulation qualities make them appropriate for temperature-sensitive sectors. This is particularly important in fields like cold chain logistics, where keeping products at a consistent temperature is necessary to preserve them. However, the honeycomb board market is expected to face considerable challenges because of high initial investment.

Supply Side of the Market

According to our analysis, China holds a remarkable 45% of the worldwide market share for honeycomb boards, significantly more than any other country. This translates into a significant market share, consumption, and production volume advantage. China has a large and sophisticated infrastructure for manufacturing honeycomb boards, allowing for high production quantities and meeting domestic and foreign demand.

Because of easily accessible materials and skilled labour, China's production costs are lower. As a result, their Honeycomb Boards become competitive in the worldwide market. The US is the second largest producer of honeycomb boards. Major players include Hexcel Corporation, Airtech International, and Advanced Composites Group. They provide honeycomb boards for several industries, such as construction, aerospace, and defence.

China is the biggest consumer, propelled by its rapidly expanding aerospace, transportation, and construction industries. High-speed train parts, lightweight construction panels, and airplane interiors all use honeycomb boards. Japan has a notable customer base renowned for its emphasis on fine craftsmanship and superior merchandise. Advanced electronics packaging, robotics, and medical devices are among the industries that use honeycomb boards.

Global Honeycomb Board Market is Segmented as Below:

By Material Type:

• Metal
• Non-metal
• Electric
• Misc

By Type:

• Reinforced
• Non-reinforced

By End-use Industry:

• Aerospace
• Automotive
• Marine
• Construction
• Packaging
• Misc

By Geographic Coverage:

• North America 
  • U.S. 
  • Canada 
• Europe 
  • Germany
  • U.K.
  • France
  • Italy
  • Turkey
  • Russia
  • Rest of Europe 
• Asia Pacific 
  • China
  • Japan
  • South Korea
  • India
  • Southeast Asia
  • Rest of Asia Pacific 
• Latin America 
  • Brazil 
  • Mexico 
  • Argentina
  • Rest of Latin America 
• Middle East & Africa  
  • GCC 
  • South Africa
  • Egypt
  • Nigeria
  • Rest of Middle East & Africa