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Paper Honeycomb Market Analysis
- Report ID: GMI4814
- Published Date: Feb 2023
- Report Format: PDF
Paper Honeycomb Market Analysis
The continuous unexpanded core segment held 82% of the paper honeycomb market share in 2022 and is estimated to witness steady progression through 2032 attributed to the economical and efficient uses of these cores in several packaging applications. In addition, the mounting demand for continuous unexpanded paper honeycomb material across the automotive sector for the packaging and shipping of automotive parts and its use in sandwich panels for construction and civil engineering applications is speculated to foster the segment outlook.
Based on application, the paper honeycomb market from the furniture segment is slated to depict more than 5% growth rate through 2032 owing to the increasing use of honeycomb composite materials in the furniture manufacturing industry in efforts to reduce wood usage and to improve the defects of wood-based panel deformation. Additionally, to provide sustainable and modern furnishing solutions, furniture makers are exploring stronger, lighter, and eco-friendly materials, which is likely to support segment expansion.
Asia Pacific paper honeycomb market is set to surpass USD 2.5 billion by 2032 driven by the increasing product application in the expanding domestic building & construction sector. Furthermore, emerging premiumization trends and policy provisions are bolstering the development of APAC household appliances and consumer electronics industries. In January 2021, China's Ministry of Industry and Information Technology developed a plan for the country's electronic components industry over 2021-23 to achieve technological breakthroughs and reduce reliance on foreign high-end products. Thus, the soaring need for sustainable packaging in the electronics sector is set to fuel regional business forecasts.
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Paper Honeycomb Market Scope
