Honeycomb sandwich is widely used in lightweight construction especially in aerospace industries because of their high specific strengths and stiffness. The typical sandwich panel consists of a lightweight core covered by two thin face sheets (skin). Each face sheet may be an isotropic material or a fiber-reinforce composite laminate while the core material may either be of metallic / aramid honeycomb or metallic / polymeric foam.
In terms of revenue, the global honeycomb sandwich market
was valued at 1213.37 million USD in 2018, and is estimated to be worth 1804.51 million USD in 2025. In terms of production, the honeycomb sandwich accounted for 9252 k sqm in 2018. And it is anticipated to reach 12650 k sqm by 2025. Overall, the honeycomb sandwich products performance is positive.
USA is the dominate producer of honeycomb sandwich, the production is 9252 k sqm in 2018, according for about 32.38% of the total amount, followed by China, with the production market share of 29.04%. China also has a relatively higher production growth rate of 5.67% from 2014 to 2018. It is also expected to remain the regions with the largest growth potential in the forecast period. Even though a huge space for growth in the Chinese market exists, the quality and technology should further improve.
At present, in the foreign industrial developed countries the honeycomb sandwich industry is generally at a more advanced level, the world's large enterprises are mainly concentrated in the USA, Europe, accounted for most of the international market share. Meanwhile, these companies have more advanced equipment, strong R&D capabilities; the technical level is in a leading position. But foreign companies’ manufacturing cost is relatively high, compared with Chinese companies, the manufacturing cost is competitive disadvantage, as the Chinese honeycomb sandwich production enterprise technology continues to improve, their share in the international market is increasing, competitiveness in the international market gradually increase. Leading players in honeycomb sandwich industry are Hexcel, Liming Honeycomb, Gill Corporation, EconCore. Hexcel is the largest manufacturer, with the market share of 21.7% in 2018, while the top five companies occupied about 48.63% share of the market.
Construction accounted for the largest market with about 51.41% of the global consumption for honeycomb sandwich in 2018. Moreover, it is anticipated to grow at a CAGR of 4.99% during the forecast period. With over 22% share of in the honeycomb sandwich market, aerospace & defense was the second largest end use market in 2018, and is anticipated to grow at a CAGR of 5.44%, in terms of consumption, during the forecast period.