Fairfield Market Research Honeycomb Board Market Share, Outlook, Size 2022-2029

Honeycomb Board Market

Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

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Industry: Chemicals & Materials

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Global Honeycomb Board Market Thrives as Packaging Ideas Turn Sustainable

Nature-inspired, the unique panels usually feature a honeycomb core - just like the type found on the inside of a beehive - plus two surface covering materials that sandwich it and create a robust structure. Placing the honeycomb core between two layers produces high tensile strength, better cushioning, ensuring excellent shock absorption. Qualities such as lightweight but strong, flexible, durable, and resistant to temperature variations, this versatile material with high humidity resistance is a cost-effective solution. Furthermore, its recyclable nature makes it ideal for modern packaging solutions.

In recent times, the uptake of honeycomb boards has picked up pace in all kinds of packaging solutions ranging from mini mobile phones to large automotive parts. In a unique manner, the honeycomb board has also been deemed as a multi-purpose item as it can be adapted into display racks, shoe boxes, and for crafting items of artistic value.

Reduced Shipping Weight and Subsequent Savings on Freight Make a Strong Case for Honeycomb Boards

The superiority of hexagonal cells over other shapes such as triangles and squares as they require the lowest volume of materials to build a structure has garnered attention towards this solution. The geometrical advantage has initiated a new vernacular of low density and high-strength structure that uses the least amount of material, resulting in reduced wastage and lesser shipping costs. Honeycomb packaging is anticipated to be the primary driver for saving money on freight. These reasons are making honeycomb boards an effective alternative to wood and plastic.

Tested adequately to ensures safe transit of goods with minimal damage, honeycomb board is used for varied types of packaging such as inner or outer packaging material, dunnage, and pallets. Product innovations in honeycomb board are enabling its wide applications into industries such as consumer goods, food and beverages, furniture, logistics, and industrial goods.

Manufactured from renewable resources (recycled paper and eco-friendly glue), honeycomb packaging is biodegradable/non-polluting and easy to dispose of. It being 100% recyclable is beneficial to the world -. can significantly aid a country's goal of environmental preservation and reduction of plastic waste. Thus, honeycomb boards are slowly replacing packaging materials such as PUF, MDF, bubble wrap, EP foam, and particle boards.

Construction Industry Embraces Honeycomb Cardboard Panels to Build Consciously

Widening applications of honeycomb board across industries such as furniture, signage, and textile are stated to draw attention to the environment-conscious approach. The construction industry uses it as a void-forming solution, creating a space between soils and building foundations. Honeycomb cardboard panels decrease the content employed in structure, offering substantial financial economies. As they are degradable, they break down over time reducing the risk of reactive soils without impacting the slab or causing damage to the structure in the future.

Honeycomb cardboard panels can be utilized for different types of body panels, supports, and ceilings for their superior soundproof and insulation properties. The smooth surface makes it an ideal choice for a variety of applications for making interior doors, partition walls, and furniture panels. The layout enables the honeycomb cardboard panels to operate like a steel l-beam, which is frequently used to carry heavy loads in construction - with the added benefit of being extremely light. In light of these properties, honeycomb cardboards have become an ideal replacement for wood, plastic, and metals.

It is also used in structural applications, wherein a layer of fiberglass is followed by a layer of honeycomb, which is then followed by another sheet of fiberglass. When compared pound for pound, this board is stronger than steel as honeycomb sandwich panels is particularly efficient in terms of stiffness and strength-to-weight ratios.

The furniture industry has taken an interest in honeycomb boards as an ideal material for making doors, internal partitions, and other composite panels. In the automotive industry, it is used in making sunshades, spare tire covers, trunk plates, door trim panels, hat boards, and roofing. In addition, it is also used to ship various parts such as headlights, fenders, and engines wrapped in die-cut paper packaging to ensure safe transit. Meanwhile, the textile industry uses honeycomb packaging to transport materials such as silk and bobbins across the world.

The global demand across these industries for honeycomb boards is being driven by greener business practices that are aimed at helping consumers to minimize their carbon footprint. As consumers are increasingly drawn to organizations that embrace corporate sustainability due to awareness about the perils of biomagnification, they have actively pushed corporations to deliver sustainable solutions. As a result, honeycomb boards have stepped up to the challenge of gradually replacing polystyrene for packaging with IKEA setting the precedent. Honeycomb boards also complement and add value to packaging solutions offered by the corrugated board box industry. Furthermore, this material demands no ISPM15 requirement for export purposes, making it easier to adopt.

Asia Pacific Contributes to Increasing Demand for Honeycomb Board

The expanding automotive sector, rising demand for lightweight auto parts, and the increasing number of automotive vehicle manufacturing facilities in Asia Pacific and Europe will all contribute to increasing demand for honeycomb board. Automobile manufacturers are under pressure to reduce emissions from passenger cars and commercial vehicles due to strict emission rules and severe fines for breaking them. One of the most crucial considerations to this emission regulation is to reduce vehicle unsprung weight by using innovative materials in auto parts. Several car part makers are using honeycomb board products to develop innovative vehicle interior parts.

In February 2019, Green & Light and BASF SE collaborated to develop advanced Elastoskin, a honeycomb board automobile trunk floor. The innovative solution allowed automobile makers to reduce the weight of the trunk floor by 20% without compromising component strength.

By 2025, Asia Pacific will account for nearly half of all honeycomb board demand reaching roughly 45%. This can be linked to the region's developing building and construction projects as well as the expanding household appliance industry. The building sector will be driven by the lower cost of property ownership in the region as well as lower labour expenses compared to other locations. Furthermore, the expanding furniture demand in the region is predicted to fuel the honeycomb board market sales.

Rising construction projects in North America and Europe as well as the growing use of honeycomb board products in these projects will support the honeycomb board market share. The demand for high-pressure strength cores and lightweight materials for interior doors, acoustic walls, and other applications is driving product penetration even further. Growing environmental concerns, as well as strict rules governing plastic waste, is likely to provide profitable prospects for the honeycomb board market.

Europe and the U.S. have enacted strict plastic rules such as banning the use of certain single-use plastics in the packaging business. Many food & beverage firms are circumventing these limitations by requesting new materials that may provide the same flexibility as plastics in box packaging. This is highly leveraging the demand for honeycomb board in the regions.

Manufacturers are Focusing on Innovation to Gain Significant Market Share

Key companies operating in the global honeycomb board market are IPC Industrial Packaging Corporation, Smurfit kappa, Greencore Packaging, Grigeo AB, Honicel, DuPont, and Hexcel Corporation. Participants in the industry are investing in R&D to develop innovative and cost-effective products. Instances of such innovations are Smurfit Kappa’s new thermo box packaging solutions for frozen food businesses that help to keep frozen food at the right temperature for longer periods.

Key Elements Included In The Study: Global Honeycomb Board Market

  • Honeycomb Board Market by Product/Technology/Grade, Application/End-user, and Region
  • Executive Summary (Opportunity Analysis and Key Trends)
  • Historical Market Size and Estimates, Value and Volume, 2018 - 2021
  • Volume Consumption at Regional and Country Level, 2022 - 2029
  • Market Dynamics and Economic Overview
  • Market Size in Value and Volume, Growth Rates, and Forecast Figures, 2022 - 2029
  • Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
  • Regional and Product/Grade/Application/End-user Price Trends Analysis
  • Value Chain and Five Force’s Analysis
  • Regional/Sub-region/Country Market Size and Trend Analysis
  • Company Market Share Analysis and Key Player Profiles

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