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DUBLIN--(BUSINESS WIRE)--Sep 14, 2022--
The "High-Temperature Honeycomb Sandwich Materials Market By Type, By Application, By Technology: Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.
The global high temperature honeycomb sandwich materials market was valued at $0.4 billion in 2020 and is projected to reach $1.0 billion by 2030, growing at a CAGR of 10.5% from 2021 to 2030.
Key Market Players
A honeycomb sandwich is a structure made of three layers in which a low-density core is injected in between two thin layers, giving it superior mechanical properties at minimal weight. A honeycomb sandwich can be used in high temperature applications if suitable material is used in the manufacturing of honeycomb sandwich panels. High strength, minimum raw material requirement in manufacturing, stiffness, and corrosive resistance are some of the advantages of high temperature honeycomb structures.
According to the report published by the space foundation in 2021, the global space economy grew by 4.4% in 2020 as compared to 2019 and reached a total of $447 billion in 2020. High temperature honeycomb sandwich materials are used in various applications of space industry. The growth in space economy is beneficial for growth of high temperature honeycomb sandwich materials market during the forecast period.
The radiators used in the space vehicles are generally made up of honeycomb panels with integrated heat tubes. The use of the honeycomb panels reduces radiator weight by minimum 3%. In addition, honeycomb panels offer large surface area. Hence, the total area for heat dissipation is greater in honeycomb radiator panels compared to others. In addition, a vented aluminum honeycomb is used for high temperature space applications for radiators. Increase in space exploration by the developing countries, such as India, drives the market growth. However, high production cost and large initial investment are the major factors that hinder the growth of the market during the forecast period.
The high temperature honeycomb sandwich materials market is segmented on the basis of type, application, technology, and region. On the basis of type, it is segmented into stainless steel, titanium, Inconel, and others. Depending on application, it is classified into aerospace & aircraft, satellites, automobiles, and others. By technology, it is classified into expansion and corrugation. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. High temperature honeycomb sandwich materials market share is analyzed across all significant regions and countries.
COVID-19 Impact on Market
Key Benefits For Stakeholders
Key Market Segments
By Type
By Application
By Technology
By Region
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SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 09/14/2022 07:58 AM/DISC: 09/14/2022 07:58 AM
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