The aramid honeycomb market is likely to register significant gains in coming years owing to rapidly growing aviation sector, shifting manufacturing aerospace production trends, increasing production of military aircrafts, and rapidly growing sports industry.
Aramid honeycomb is essentially an aerospace-grade fiber honeycomb that showcases excellent flammability properties. It is usually manufactured from Meta-Aramid paper, which is thoroughly coated with a heat resistant phenolic resin. At present, aramid honeycomb is gradually being used in a number of high performance components owing to its superior mechanical properties, good long-term stability, and low density. It is also best for any structure which needs thermal insulation and corrosion resistance.
Aramid honeycomb is most commonly used in helicopter rotor blades, missile wings, navy bulkhead joiner panels, partitions, radomes, aircraft galleys, military shelters, fuel tanks, antennas, aircraft leading and trailing edges, and flooring among others.
Aramid honeycomb market is bifurcated into different segments in terms of aramid type, grade, type, end-user, and regional landscape.
With respect to aramid type, the overall market is divided into meta-aramid and para-aramid. Among these, para-aramid segment held more than 25% industry share in terms of volume of the overall market. Growth in aviation sector will proliferate market growth in coming years.
Based on grade, the aramid honeycomb market is classified into commercial and aerospace. Among these, aerospace segment revenue will reach around $240 million by the end of the analysis timeline. This anticipated growth is ascribed to the increasing production of military aircrafts.
With respect to type, the overall aramid honeycomb market is segmented into Nomex and others. In 2019, Nomex segment held more than 65% revenue share and will continue to register similar growth trends in the coming years. Growth in aerospace sector will propel the overall market growth in coming years. This product type is widely used in aerospace applications such as bulkheads, lockers, and cabinets. Apart from aerospace applications, Nomex honeycomb is also utilized in high-performance motorsports like WRC and Formula 1.
In terms of end-user, the aramid honeycomb market is categorized into transportation, defense, aviation, and others. Among these, the others segment held more than 4% revenue share in 2019. This growth is mainly ascribed to the rapidly growing sports industry, which is likely to increase the product demand in the years to come.
From a regional frame of reference, Middle East & Africa region presently has a share of over 3% in the overall market and will continue to show similar growth. Shifting manufacturing aerospace production in MEA region will fuel market growth in the years to come.