Non-Honeycomb Sandwich Panel Core Materials Market Expected to Reach $1.6 Billion by 2030-Allied Market Research

According to a new report published by Allied Market Research titled, “Non-Honeycomb Sandwich Panel Core Materials Market by Material and End Use: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global non-honeycomb sandwich panel core materials market size was valued at $0.7 billion in 2020, and is projected to reach $ 1.6 billion by 2030, growing at a CAGR of 7.7% from 2021 to 2030.

A non-honeycomb sandwich panel is a composite material that integrates a low-density core between two opposing sandwich panels. In the aerospace industry, non-honeycomb sandwich panels are widely used for various applications, from fuselage and wing skins to interior decorative panels. Most technologies for manufacturing non-honeycomb sandwich structures are either rapid, resulting in reduced costs but with poor mechanical properties or the technologies are time-consuming resulting in high costs. Hence, the need for cost-effective, rapid processing technology has increased to produce non-honeycomb sandwich panels with engineered properties.

Sandwich panels provide durability, speed of construction, and design flexibility to tilt-up structures while providing significant R-value and moisture protection. Sandwich wall panels contain two layers of concrete separated by a layer of rigid insulation and are combined with a series of connectors or fasteners. Sandwich structures are used as primary and secondary structural components due to their superior qualities such as high strength and stiffness to weight ratio, ease of manufacturing, acoustic & thermal insulation, and flexibility in design. Design flexibility through the sandwich panel is expected to boost the demand for non-honeycomb sandwich panel core materials from the construction industry.

Wind blade manufacturers have already used carbon/glass hybrid structures before using foam as stiffening agents along with balsa. According to Dale Brosius, the Chief Operating Officer at the Institute for Advanced Composites Manufacturing Innovation (IACMI), U.S., the use of hybrid composites, containing both carbon and glass fibers in a certain proportion to maintain the cost-to-performance ratio, is expected to provide lucrative opportunities for the growth of the market, as these structures reduce the costs of sandwich panel materials. Thus, growth opportunities exist in the sandwich panel material market for hybrid structures, where it can be carbon-glass hybrid or hybrid of different grades of glass fiber only.

The non-honeycomb sandwich panel core materials market is categorized on the basis of material type, end use, and region. By material type, the foam segment accounted for a market share of 70.2% in 2020 and is projected to grow at a CAGR of 8.5% over the forecast period. Balsa is expected to grow with a significant growth rate over the forecast period. Balsa exhibits high compressive property, decent thermal insulator, and remarkable acoustic retention. It offers positive buoyancy and can be effectively manufactured using basic tools and hardware.

By end use, the wind energy segment dominated the global market with a share of 39.4% in 2020. Aerospace is expected to be the fastest-growing segment over the forecast period. Sandwich panel materials exhibit various properties such as lightweight, low density, and low cost, which make them ideal for manufacturing incredibly strong and stiff structures when placed between skins made with reinforcing fibers and resin, due to which its use is rising in manufacturing airplanes.

By region, Asia-Pacific dominated the market with a share of 40.3% in 2020 and is expected to experience lucrative growth in the near future, owing to high demand for lightweight and sustainable materials in the wind energy and construction sectors.

The key players operating in the global non-honeycomb sandwich panel core materials market include 3A Composites Mobility, ACP Composites, Inc., Armacell, CoreLite, Diab Group, Evonik Industries AG, Fiber-Tech Industries, Inc., Gurit, I-Core Composites, LLC, and Rock West Composites, Inc.

Key Findings Of Study

• By material, the foam segment dominated the market with a share of 70.2% in 2020 and is expected to grow at a CAGR of 8.5% during the forecast period.
• By end use, the wind energy segment emerged as the global leader by acquiring around 39.4% market share in 2020, in terms of revenue and is anticipated to witness a significant growth rate during the forecast period.
• Region-wise, Asia-Pacific is the major consumer of non-honeycomb sandwich panel core materials among other regions. It accounted for around 40.3% of the global market share in 2020 and is expected to witness lucrative growth rate over the forecast period.

COVID-19 Impact on Market

• During the COVID-19 pandemic, the non-honeycomb sandwich panel core materials industry was impacted in terms of distribution and logistics due to lockdown across the globe. Non-honeycomb sandwich panel core materials production and distribution came to a halt because of the economic downturn due to the pandemic.
• The COVID-19 pandemic disrupted the construction, aerospace, and transportation industries, resulting in reduced usage of non-honeycomb sandwich panel core materials in these industries.
• The global COVID-19 pandemic hindered inter-country activity and import & export of non-honeycomb sandwich panel core materials, due to varied economic and legal limitations globally. As a result, the non-honeycomb sandwich panel core materials market impacted moderately in 2020. However, by the beginning of 2021, all the industries started their operation due to which the demand for non-honeycomb sandwich panel core materials improved in construction, aerospace, and transportation industries.