Honeycomb Board Market

Honeycomb Board Market Outlook (2023 to 2033)

The global honeycomb board market is valued at US$ 1.2 billion in 2023 and is predicted to reach US$ 2.26 billion by 2033-end. Global demand for honeycomb boards is predicted to rise at a CAGR of 6.5% from 2023 to 2033.

• Reinforced honeycomb boards account for 64% of the global market share.
• Reinforced honeycomb boards are widely used due to their resistance to ballistic impacts. An effective technique to increase impact resistance is to reinforce the honeycomb boards.

The packaging industry is expanding rapidly on the back of high consumer inclination toward e-Commerce. This has inverted the dynamics of packaging materials associated with the industry. Packaging companies' strong requests from the logistics industry over the reduction of truckload costs induced by the weight of packaging have reverberated across the material industry. This induced a chain of events leading to the introduction of honeycomb technology, which incorporates an inexpensive and lightweight honeycomb-like structure between the sandwiched panels.

Unique panels, which are nature-inspired, typically include a honeycomb core, similar to the kind found inside a beehive, plus two surface-covering materials that sandwich it and make a sturdy framework. The honeycomb core generates high tensile strength, improved cushioning, and good shock absorption when it is sandwiched between two layers.

Honeycomb core, which has good humidity resistance and is lightweight yet sturdy, flexible, long-lasting, and resistant to temperature changes, is a cost-effective alternative. Additionally, because it is recyclable, it is perfect for innovative packaging solutions.

The use of honeycomb boards has accelerated recently in a variety of packaging options, from small mobile phones to substantial automotive components. The honeycomb board has been regarded as a multi-purpose object distinctively since it can be transformed into display racks, shoe boxes, and products with aesthetic value.

Honeycomb board demand is anticipated to diversify, reducing the risk and stabilizing the overall price fluctuations of panels over the forecast period. The constant shift in end-user preferences toward lightweight and strong materials is driving the demand for honeycomb boards.

Report Attributes	Details
Market Size in 2023	US$ 1.2 Billion
Forecasted Market Value (2033)	US$ 2.26 Billion
Global Market Growth Rate (2023 to 2033)	6.5% CAGR
Market Share of Reinforced Honeycomb Boards (2023)	64%
United Kingdom Market Growth Rate (2023 to 2033)	7.1% CAGR
Market Share of Packaging (2023)	42%
Japan Market Value (2033)	US$ 129 Million
Key Companies Profiled	DuPont Honeycomb Cellpack A/S 3A Composites GmbH Corex Honeycomb Honecore Premier Packaging Products Hexcel Corporation Grigeo, AB Rebul Packaging

What are the Prominent Driving Factors for Honeycomb Board Sales?

“Surging Need for Lightweight Materials from End-user Industries”

The lightweight and internally reinforced structure is the prominent factor shaping the demand for honeycomb profiles. Considering this factor, the packaging industry has adopted panels of this sort to overcome the drawbacks of conventional packaging cardboard and corrugated cardboard.

The interest in honeycomb boards has recently increased because of the surging need for lightweight materials from a variety of end-user industries. The most crucial factor in the design and production of machinery such as automobiles, ships, planes, and others is weight. Honeycomb boards are reducing weight in both auxiliary applications and flying machine components. As a result, its demand is rising across a range of end-use sectors.

“Increasing Paper Honeycomb Adoption”

Paper honeycomb has found an irreplaceable position in the furniture industry, as these panels are used for producing doors, allotments, and other inexpensive furniture such as drawers and cupboards. Moreover, paper honeycomb is used for fixing delicate parts and equipment during transit. Custom-designed, in-house production of such paper honeycomb is observed across the logistics and packaging industries.

“Growing Popularity of Low-density and High-strength Structures”

High-strength structures have become popular due to their geometrical advantage, low-density. These structures employ the least amount of material, which reduces waste and shipping expenses. The main factor expected to contribute to freight cost savings is honeycomb packing. Because of these factors, honeycomb boards are a good substitute for wood and plastic.

Honeycomb board is used for many different forms of packing, such as inner or outer packaging material, dunnage, and pallets. It has been extensively tested to assure the secure transportation of products with little damage. Honeycomb board has several uses in the consumer goods, food and beverage, furniture, logistics, and industrial product sectors thanks to product improvements.

“Rising Demand for Eco-Friendly Materials”

Greener corporate strategies targeted at assisting customers to reduce their carbon footprint are driving the global demand for honeycomb boards across various industries. Due to their growing awareness of the risks of biomagnification, customers are actively encouraging businesses to provide sustainable solutions.

Consumers are becoming more attracted to businesses that embrace corporate sustainability. The packaging options provided by the corrugated board box sector are additionally enhanced and complemented by honeycomb boards.

Honeycomb packaging is made from renewable materials (recycled paper bags and eco-friendly glue) and is easy to dispose of, biodegradable, and non-polluting. It is 100% recyclable and reduces environmental impact and plastic waste. As a result, packaging materials, including PUF, MDF, bubble wrap, EP foam, and particle boards, are gradually being replaced with honeycomb boards.

How is Honeycomb Board Consumption Being Restrained to Some Extent?

“Easy Availability of Substitutes”

The application of honeycomb paper in some end-use industries is restricted due to low breakage and folding resistance, susceptibility to puncture, and poor processing performance of paper honeycomb paperboard, which is anticipated to restrain market growth.

The geometries of honeycomb cores need expensive computer modeling and manufacturing processes. As a result, the core material might be substituted by a simple material of comparable volume with elastic orthotropic qualities, which would constrain the market expansion for honeycomb cores.

What Strategies Should New Companies Focus on to Make a Mark in This Industry?

“New Companies Should Focus on Offering Customized Goods”

Emerging companies must invest in R&D to create advanced and affordable products. Aspiring market players should focus on the development of lightweight thermoplastic honeycomb composites.

• In the North American automotive industry, Fynocore is a successful start-up of the Fynotej production line. For automobile interiors, especially trunks, it manufactures a variety of polypropylene honeycomb sandwich panels.
• Smurfit Kappa offers innovative Thermobox packaging solutions for frozen food businesses. These solutions assist to maintain frozen food at the proper temperature for longer periods.

Start-ups should follow such advancements of well-established players to make a strong foothold in this industry. New entrants should concentrate on creating customized goods to satisfy the unique requirements of the various end-use industries.

Country-wise Insights

Why are Sales of Honeycomb Boards Bolstering in the United States?

“Rapid Expansion of Automotive Industry”

The market in the United States is expected to rise at a CAGR of 5.9% from 2023 to 2033.

The United States is a hotspot for the automotive industry. The rate of development in this industry is also high when compared with developing countries. Developments in terms of price growth and M&A activities have given momentum to this industry. In terms of research & development in the automotive industry, the Corporate Average Fuel Economy (CAFE) standards have acted as a backbone for the rise in demand for automotive lightweight materials.

Will the United Kingdom Be a Profitable Market for Honeycomb Board Suppliers?

“Surge in Commercial and Passenger Aircraft Production”

• The market in the United Kingdom is predicted to reach US$ 176.4 million by 2033.

Rapid expansion of the packaging industry, the presence of industrial solutions, and a surge in commercial and passenger aircraft production are the factors expected to boost market expansion over the forecast period. Growing environmental concerns and stringent regulations managing plastic waste are projected to offer lucrative opportunities for the honeycomb board industry.

How is the Honeycomb Board Market Progressing in South Korea?

“Market Benefiting from Rise in Construction Projects”

• The market in South Korea is set to rise at a CAGR of 3.4% over the next ten years.

Rising construction projects and the increasing usage of honeycomb board products in these projects are supporting market expansion in South Korea. Product penetration is being further accelerated by the demand for lightweight materials and high-pressure strength cores for interior doors, acoustic walls, and other applications.

Increased demand for eco-friendly products such as paper honeycomb panels is boosting market growth. Rapid growth in the home decor industry is anticipated to fuel market expansion over the coming years.

Why is Japan Witnessing High Demand for Honeycomb Boards?

“Substantial Increase in e-Commerce Activities”

• The market in Japan is valued at US$ 83.2 million in 2023.

Market growth is attributed to a rise in demand for lightweight materials for in-house electrical vehicle manufacturing. Moreover, country policies are in line with EU and US emission standards, which pushes demand for efficient and effective materials for core applications in the automotive sector.

The growing need for sustainable packaging in the electronics industry and the increasing production of recyclable paper honeycomb boards are some of the important trends boosting market value. The demand for honeycomb paper board packaging materials has increased recently as a result of a rise in e-Commerce activities.

Category-wise Insights

Why are Honeycomb Boards Widely Used in the Packaging Sector?

“Honeycomb Packaging Minimizes Product Damage During Transit”

The market is classified into aerospace, automotive, marine, construction, packaging, and others based on the end-use industry.

• Currently, the packaging industry holds 42% share of the global market.

Honeycomb boards are strong and internally-reinforced structures used for a bundle of applications, ranging from transportation to packaging. Currently, expensive and fragile goods such as electronics, glass, and antique pieces, among others, are fixated on honeycomb boards, which ensures minimal movement of the product and provides safe transit to the destination.

Honeycomb packaging minimizes the impact of the product during transit, which ensures product value retention and minimal bearing of FOB (free on board) costs by the consumer. Honeycomb core materials offer great protection since they are not only sturdy and long-lasting but also stiff and cushioned. The rising need for lightweight, highly durable, and environmentally friendly packaging solutions is driving the demand for honeycomb boards.

Competitive Landscape

Top honeycomb board producers are forming supply agreements with other businesses and creating new products to increase their presence. They are focusing on quality control, product standards, and pricing trends to solidify their position in the market.

• In 2019, Green & Light and BASF SE partnered together to create improved Elastoskin, a honeycomb board used for vehicle trunk floors.
• In 2020, Toray Advanced Composites, EconCore, a pioneer in thermoplastic honeycomb core technology, and Bostik collaborated to develop FST-certified thermoplastic honeycomb panels for use in mass transportation applications, such as airplane interiors.

Key Segments of Honeycomb Board Industry Research

• By Material :

  • Metal Honeycomb Boards
    • Aluminum
    • Steel
    • Titanium Aluminum
    • Others
  • Non-metal Honeycomb Boards
    • Plastic
      • PP
      • PVDF
      • PVC
      • Others
    • Non Plastic
      • Carbon Fiber
      • Fiberglass
      • Paper
      • Others

• By Type :

  • Reinforced
  • Non-reinforced

• By End-use Industry :

  • Aerospace
  • Automotive
  • Marine
  • Construction
  • Packaging
  • Others

• By Region :

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa