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Aramid Honeycomb Market Share

Report ID: GMI4869
Published Date: Nov 2020
Report Format: PDF

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Aramid Honeycomb Market Share

Plascore, Inc., a major player involved in the aramid honeycomb industry, announced the expansion of production capacity at the Zeeland, Mich., U.S. facility. In September 2019, it started the construction of a 73,500-square-foot additional production facility. With this expansion, the company is expected to manufacture products at competitive prices. The other notable players engaged in the market are:

Hexcel Corporation
Euro-Composites S.A
The Gill Corporation
Argosy International, Inc
Showa Aircraft Company Ltd

Authors: Kiran Pulidindi

Frequently Asked Questions (FAQ) :

The global market for aramid honeycomb was valued at USD 214.5 million in 2019 and is likely to expand at 9.4% CAGR through 2026.

The para-aramid segment is projected to grow at a 9.9% CAGR up to 2026 in terms of volume as composites manufactured using para-aramid can endure extreme forces and pressure, making it ideal for aerospace end-users.

The aviation segment captured a 70% share of the industry revenue, attributed to the usage of aramid honeycomb materials in manufacturing aircraft components, coupled with the rising number of airports in developing economies.

North America held a 43% share of the global market in 2019 and is poised to witness substantial growth owing to the presence of numerous aircraft manufacturers in the region.

Global aramid honeycomb industry share from the Nomex honeycomb segment is poised to grow at over 9% CAGR through 2026 owing to benefits like excellent corrosion resistance, fire resistance, and strength-to-weight ratio.