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Paper Honeycomb Market Size By Core (Continuous Unexpanded, Slices Unexpanded, Pre-Expanded Sheets), By Application (Automotive, Building & Construction, Household Appliances, Furniture, Food & Beverages, Ceramics, Glass, Distribution, Electronics, Metal Mechanics), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

  • Report ID: GMI4814
  • Published Date: Sep 2020
  • Report Format: PDF

Industry Trends

Paper Honeycomb Market size was valued over USD 4.2 billion in 2019 and is estimated to exhibit around 3.5% CAGR from 2020 to 2026. The growing demand for lightweight packaging solutions across several industries including protective packaging for glass, auto parts, and food & beverage will provide a positive scope for the business growth.

Increasing focus on improving the building infrastructure to offer a peaceful and convenient environment in public places has led to a rise in the demand for paper honeycomb packaging. Further, growing adoption of paper honeycomb products in industrial packaging applications owing to their excellent compression strength along with 100% recyclable property will provide lucrative opportunities for paper honeycomb market expansion.

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The expanding automotive sector, rising demand for lightweight auto parts, and growing number of automotive vehicle production facilities in Asia Pacific and Europe will further drive the paper honeycomb market demand. Stringent emission regulations and hefty penalties for violating them are pressurizing automotive manufacturers to lower emissions from passenger cars and commercial vehicles.

One of the key solutions to this is lowering the unsprung weight of vehicles with the usage of advanced materials in auto parts. Several auto part manufacturers are developing advanced vehicle interior parts with the adoption of paper honeycomb products. For instance, in February 2019, Green & Light and BASF SE together developed advanced Elastoskin, a paper honeycomb car trunk floor. The new product enabled vehicle manufacturers to minimize car trunk floor weight by 20% without affecting the strength of components.

Rising building & construction projects across North America and Europe and growing popularity of paper honeycomb products in such projects will further support the paper honeycomb market share. The growing requirement of high-pressure strength core and lightweight materials for interior doors, acoustic walls, and other applications is further driving the product penetration. Excellent acoustic properties of paper honeycomb panels and their integration with other composite products further provide high strength materials for use in commercial building spaces.

Growing environment concerns along with stringent regulations pertaining to plastic waste are expected to offer lucrative opportunities to paper honeycomb market to replace plastics from several packaging applications. Several European countries and the U.S. have adopted stringent plastic regulations such as ban of certain single use plastics from the packaging industry. Several food & beverage companies are carefully overserving these regulations and demanding new materials that can offer flexibility as provided by plastics in box packaging.

Industry participants, such as Smurfit Kappa, have developed new thermo box packaging solutions for frozen food manufacturers. The new box product enabled the food & beverage companies to maintain temperature of frozen food at required levels for longer time along with providing good strength and lightweight properties to packaging solutions.

COVID-19 will have a negative impact on the market growth

Recent outbreak of COVID-19 has adversely affected several industries, such as food & beverage, construction, electronics, home appliances, etc. Due to the contraction in these industries, paper honeycomb demand has also seen a downfall in 2020. Furthermore, the inevitable economic recession due to the COVID-19 pandemic is expected to affect the paper honeycomb market growth negatively over the forecast period.

Continuous unexpanded core will dominate the overall market

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Continuous unexpanded core paper honeycomb holds dominance in the paper honeycomb industry. The paper honeycomb market revenue for continuous unexpanded core was valued at USD 3.4 billion in 2019 and is expected to grow at a CAGR of 3.6% in the next few years. The dominance is attributed to economical and efficient uses of these cores in several packaging applications.

These cores are shipped in continuous pallet load lengths. They are expanded mechanically at the point of use. The continuous unexpanded core production process development with automation in production stages and usage of these cores in sandwich panel will further provide lucrative opportunities for cost-sensitive applications.

Furniture anticipated to drive the product demand

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Furniture applications are expected to drive the paper honeycomb market share owing to the growing demand for lightweight and economical materials. High strength to thickness ratio, highest strength to weight ratio along with acoustic properties of materials increases the usage in interior table, chairs, and other furniture applications. Additionally, the aesthetic properties of advanced paper honeycomb products are growing their popularity as furniture design materials. Therefore, the industry will exhibit gains of 3.5% CAGR between 2020 and 2026.

Glass application will showcase a significant growth owing to the growing glass industry. The rising demand for decorative glass appliances across residential and commercial spaces along with the requirement of safe and economical protective packaging solution will drive the paper honeycomb market demand. Paper honeycomb products, such as box, separators, and pallets, are used in glass applications for protective packaging.

On account of growing end-use industries Asia Pacific will remain the largest market by 2026

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Asia Pacific will account for the larger chunk of the product demand of around 40% in 2026. This can be attributed to the growing building & construction projects along with the expanding household appliances industry across the region. Lower cost of land ownership in the region along with lower labor costs compared to other regions will drive the construction industry. Further, the growing furniture demand in the region along with presence of several furniture manufacturers is expected to drive the paper honeycomb market sales over the study timeframe.

Manufacturers are focusing on innovation to gain major market share

Industry participants are investing in R&D to develop advanced and economic products. Further expansion of production capabilities by several industry players along with growing strategic distribution network of industry players in several regions will support the paper honeycomb market. Development of advanced products, integration of paper honeycomb with other materials, and rising logistics and electronics industry will further support the industry players to escalate revenue generation.

Major companies operating in the paper honeycomb industry include IPC Industrial Packaging Corporation, Smurfit kappa, Greencore Packaging, Grigeo AB, Honicel, DuPont, and Hexcel Corporation.

The paper honeycomb market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in million square meters and revenue in USD million from 2016 to 2026, for the following segments:

By Core

  • Continuous unexpanded core
  • Slices unexpanded core
  • Pre-expanded sheets

By Application

  • Automotive
  • Building & construction
  • Household appliances
  • Furniture
  • Food & beverages
  • Ceramics
  • Glass
  • Distribution
  • Electronics
  • Metal mechanics
  • Others

The above information is provided on a regional and country basis for the following:

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Indonesia
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
Authors: Kiran Pulidindi, Sayan Mukherjee

Frequently Asked Questions (FAQ) :

In 2019, global paper honeycomb market size was worth USD 4.2 billion. The industry may depict 3.5% CAGR through 2026, driven by the rising demand for lightweight packaging solutions.
Asia Pacific may hold around 40% of the global honeycomb market share by 2026, on account of the rising number of building and construction projects in the region.
The paper honeycomb market size from continuous unexpanded core was worth USD 3.4 billion in 2019 and may exhibit 3.6% CAGR through 2026, driven by the efficient and economical deployment of these cores in packaging applications.
Global paper honeycomb industry size from furniture applications may register 3.5% CAGR through 2026, pertaining to rising product demand in interior table, chair, and other furniture applications.

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Premium Report Details

  • Base Year: 2019
  • Companies covered: 13
  • Tables & Figures: 194
  • Countries covered: 19
  • Pages: 250
  • Upcoming Report: Details can be customized to meet your information and data needs. Feel free to share your detailed research requirements via this form.

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