Non-Honeycomb Sandwich Panel Core Materials Market Forecasts to 2028 – Global Analysis By Material (Balsa, Foam), Application (Aircraft Engines, Wind Turbine Blades, Furniture, Anisotropy), End User (Wind Energy, Aerospace, Construction, Marine), and By G

Non-Honeycomb Sandwich Panel Core Materials Market Forecasts to 2028 – Global Analysis By Material (Balsa, Foam), Application (Aircraft Engines, Wind Turbine Blades, Furniture, Anisotropy), End User (Wind Energy, Aerospace, Construction, Marine), and By Geography

According to Stratistics MRC, the Global Non-Honeycomb Sandwich Panel Core Materials Market is accounted for $0.77 billion in 2021 and is expected to reach $1.48 billion by 2028 growing at a CAGR of 9.8% during the forecast period. A non-honeycomb sandwich panel core material is composite configuration that consists of high strength composite facing sheets bonded to lightweight foam, balsa, or honeycomb core. This material integrates a low-density core between two opposing sandwich panels. Most technologies for manufacturing non-honeycomb sandwich structures are either rapid, resulting in reduced costs but with poor mechanical properties or the technologies are time-consuming resulting in high costs.

Market Dynamics:

Driver:

Investment in the field of satellite manufacturing

The sandwich panel core materials are used to produce panels for satellite owing to its elevated rigidity and low weight desires. The demand for satellite networks and services for commercial applications has increased. The rising utilization of commercial satellite platforms for dual purposes, which include military and civil, is also providing growth opportunities. Significant investments by the venture companies, the growing demand for low-cost miniaturized satellites, and increasing demand for Earth observation applications. In a typical satellite design, most impact-sensitive equipment is situated in the enclosure of the structural sandwich panels.

Restraint:

High production cost

The production cost of non-honeycomb sandwich panel core materials is high. For this reason when the end-use industry produce a product based on these core materials its cost also augmented. Secondly, the raw material which is used in the manufacture of global non-honeycomb sandwich panel core materials is also expensive. These are the major restraints which affect the market of non-honeycomb sandwich panel core materials in near future.

Opportunity:

Increasing non-honeycomb sandwich panel core materials demand for various construction projects

Growing these materials demand for diverse construction projects is anticipated to proffer lucrative revenue-generating opportunities for the global market players. These sandwich panel core materials are use in the ceiling, floor and other in the construction because of its lightweight property. By 2020, construction output is estimated to grow by 70% to $12.7 trillion and will account for 14.6% of the world output with some of the larger emerging markets such as China, India, Russia, Brazil and Poland driving growth, along with U.S. Global GDP growth of 3.5% and 3.6% is expected in 2017 and 2018 respectively. Design flexibility through the sandwich panel is expected to boost the demand for non-honeycomb sandwich panel core materials from the construction industry.

Threat:

Lack of awareness

In some developing or underdeveloped countries of APAC Africa, and South America, people are less aware of these insulation panels and the benefits it offers. There is a lack of awareness about the sustainability, flexibility, recyclability, and durability of non-honeycomb sandwich panel core materials in the emerging economies. Moreover, on the downside credited cosmetic damage, freezing at the seams and the lack of ability to withstand the extra load. By its insulating qualities sandwich panel 12 times better than concrete and bricks, and the load on the foundation is reduced by 80 times. The service life of the sandwich panels at least a hundred years.

The foam segment is expected to be the largest during the forecast period

The foam segment is estimated to have a lucrative growth owing to the high compressive strength, high buoyancy per kilogram and low water absorption make foams ideal for subsea applications requiring high performance and long lifetime. Foam is a solid material that is made up of gas. It consists primarily or completely of bubbles/cavities filled with air or another gas, typically in the form of a highly viscous substance. The material composition of foams provides unique mechanical properties well suited to subsea applications below 700 meters depth. Foams are formulated to meet specific depth and buoyancy requirements down to 10,000 meters. The foam is available in blocks, semi-ready, to print or finished products such as low drag buoys, modular buoyancy, and any kind of umbilical systems as well as well-protecting structures.

The marine segment is expected to have the highest CAGR during the forecast period

The marine segment is anticipated to witness the fastest CAGR growth during the forecast period due to rise in the number of leisure marine travelers, advent of technologically advanced and highly reliable engines, vast expansion of the seaborne transport industry, economic stability, and rising disposable incomes. Non-honeycomb sandwich panel core materials are used in Marine to reduce weight. These panels can be made of sandwich construction with aluminum alloy, carbon fiber reinforced plastic (CFRP), glass fiber reinforced epoxy resin or other material that reduces the panel weight and offers better strength than conventional metal hulls. The most common application for non-honeycomb sandwich core materials is naval vessels such as superyachts, cruise ships, warships, etc.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the development in end-user industries and the rise in replacement of aging aircraft. The economy of APAC is mainly influenced by the economic dynamics of countries such as China and India, but with growing foreign direct investment for economic development of South East Asia, the current scenario is changing. The wind energy and construction industry has experienced growth in demand toward sandwich panel materials in the Asia-Pacific region, owing to rise in demand for green energy and increase in overall income to boost the construction materials market.

Region with highest CAGR:

Middle East & Africa is projected to have the highest CAGR over the forecast period due to the increasing construction industry and growing population, rising inclination toward sustainable and green products. Sandwich panels are prevalent in the Middle East, mainly because the insulation is a necessity for most businesses. Moreover, with the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets in the Middle East & Africa.

Key players in the market

Some of the key players profiled in the Non-Honeycomb Sandwich Panel Core Materials Market include Hexcel Corporation, Euro-Composites S.A., The Gill Corporation, Paroc, Armacell International S.A., Diab Group, Gurit Holding AG, 3A Composites, Plascore Incorporated, Evonik Industries AG., Changzhou Tiansheng New Materials Co. Ltd., Jinagsu QiYi Technologies, Kingspan, Arcelor Mittal, Fischer Profil, and Omnis exteriors.

Key Developments:

In January 2020, The Global advanced fabrics company, Low & Bonar have signed a license agreement with EconCore, the thermoplastic honeycomb technology leader, for the use of their non-honeycomb sandwich panel core materials technology.

In March 2020, The EconeCore launched Recycled polyethylene terephthalate (rPET) honeycomb which is now commercially ready and available to license from EconCore. The company successfully conducted two years of research, learning how to optimally process the reusable resource-based polymer into its continuously produced honeycomb core.

Materials Covered:
• Balsa
• Foam

Applications Covered:
• Aircraft Engines
• Ship Decoration and Interiors
• Wind Turbine Blades
• Furniture
• Air Conditioning System
• Anisotropy

End Users Covered:
• Wind Energy
• Transportation
• Aerospace
• Construction
• Marine

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

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Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
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