The growing proclivity for the product is expected to proliferate the growth of aramid honeycomb market in the coming years. As per the recent report by Global Market Insights, Inc., the market size is projected to surpass USD 314.8 million by 2026.
Enormous expansion of aviation and automotive sector over the recent years has drastically increased the demand for high strength, lightweight and heat resistant materials. This has significantly impelled the adoption of aramid honeycomb panels which is manufactured from aramid fiber paper, which is known to possess greater strength-to-weight ratio, superior stiffness and is highly bondable.
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Elaborating on the application of aramid honeycomb in aerospace sector, Kevlar® is known to be the most popular honeycomb composites in the market owing to its specific strength and stiffness. The aerospace grade aramid honeycomb finds important application for manufacturing aircraft galleys, partitions, flooring, missile wings, aircraft leading and trailing edges, antennas, fuel tanks, etc.
The considerable growth of aerospace industry coupled with supportive government initiatives across the globe is positively influencing the industry landscape. In this regard, North America stands tall as a remunerative hub for aramid honeycomb market owing to the increasing government investments along with the ongoing efforts of aerospace companies to increase their production capacity.
Quoting an instance, in 2021, Canada government announced investing around USD 440 million in Quebec's aerospace industry. This initiative is aimed at subsidizing the major projects being developed by key aerospace companies operating in the province, namely CAE, Pratt & Whitney Canada and Bell Textron Canada.
Citing an instance of initiatives undertaken by the aerospace companies, in 2020, Airbus announced the launch of its A220 commercial aircraft final assembly line in Alabama. This manufacturing facility of 270,000-square-foot will produce the A220-100 as well as A220-300 versions and consist of five primary assembly stations for competing aircraft assembly.
The other crucial application of aramid honeycomb is in the automotive sector. As safety is considered as an essential part of automobiles, the sector largely uses a sandwich panel combined with high-performance material like Kevlar and carbon fiber which helps in absorbing the shocks and offer protection.
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With regards to the automotive application, European countries are apparently providing lucrative growth opportunities for the industry. This is majorly due to the increasing automobile production in the region, especially in electric vehicle segment. According to the KBA federal motor transport authority statistics, sales of full-electric and plug-in hybrid cars increased the overall vehicle sales in Germany in May 2021. Reportedly, 230,635 new passenger cars were registered in the country in the month of May which represented a rise of 37% as compared to that in May 2020.
Wide range of application of aramid honeycomb in aerospace, marine, automotive sectors owing to its excellent characteristics including light weight, stiffness, heat resistance, and high strength is the major growth rendering factor for the industry. Increasing production of automotive and aircrafts as well as defense equipment in various countries is further supporting the business progression.
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