Increasing use of expanded paper honeycomb as a substitute for traditional filling materials such as solid shims, chipboard lines and tube board in interior doors and partition walls is driving the growth of the global honeycomb paper market
Portland, ore.And April 27 2022 /PRNewswire/ – Allied Market Research has published a report titled, Paper honeycomb market by basic type (expanded paper honeycomb, expanded paper honeycomb, continuous paper honeycomb, paper honeycomb, other), by cell size (up to 10mm, 10 to 30mm, more than 30 mm), by end-use industry (Home Decor, Transportation and Logistics, Automotive, Building and Construction, Others): Global Opportunity Analysis and Industry Outlook, 2020-2030.” According to the report, the global honeycomb paper industry has been valued at $6.5 billion In 2020, it is expected to happen $11.0 billion By 2030, recording a compound annual growth rate of 5.4% from 2021 to 2030.
Drivers, Constraints, and Opportunities-
Increasing use of expanded paper honeycomb as a substitute for traditional filling materials such as solid gaskets, chipboard lines and tube panels in interior doors and partition walls is driving the growth of the global honeycomb paper market. On the other hand, the poor processing performance of honeycomb paperboard limits the application of honeycomb paper in some end-use industries, thus hampering growth to some extent. However, paper honeycomb pallets are widely used and are highly preferred in air cargo due to their light weight and durability. This in turn created profitable opportunities in the industry.
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Covid-19 scenario-
- The outbreak of the epidemic led to the closure of a group of industrial sectors, which reduced the demand for honey paper from several sectors, which negatively affected the growth of the market, especially during the initial period.
- However, as most of the industries have started to restart operations, the global honeycomb market is expected to get back on track soon.
The 10 to 30 mm segment that will prevail by 2030-
Based on hive size, the 10-30mm segment captured nearly half of the global market share of honeycomb paper in 2020, and is expected to rule roost by 2030. The same segment would also indicate the fastest compound annual growth rate of 5.6% during forecasts interval. Population growth combined with rapid urbanization has fueled the growth of the construction sector in both developed and developing economies where cell sizes of honeycomb paper range from 10 mm to 30 mm and are used to manufacture various interior door cores.
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Slice the home decor to maintain the dominant share.
Based on the end-use industry, the home decor segment accounted for more than two-fifths of the global honeycomb market revenue in 2020, and is expected to lead the way by 2030. The same segment will also show the fastest compound annual growth rate of 5.8% from 2020 to year 2030. This is due to the paper honeycomb core being widely adopted for wide home decoration applications such as interior doors and interior furniture products.
Asia Pacificfollowed by Europe And North Amaricaon the largest share in 2020-
based on the area, Asia Pacificfollowed by Europe And North Amarica, which captured the major share in 2020, generating more than two-fifths of the global honeycomb paper market. The same area will also grow at the fastest compound annual growth rate of 6.2% by 2030. The high strength ratio of the honeycomb core material makes it an ideal alternative to other traditional wood laminate laminates and pipe panels for home decoration applications. home decor sector via Asia Pacific It is gaining momentum due to high demand and adoption of environmentally friendly products.
The major players in the industry-
- Lsquare Eco Products Pvt. Ltd.
- Greencore packaging
- Honicel Nederland BV
- EcoGlobe Packaging Private Limited
- HELIOS Packaging
- MAC package
- Axor
- Crown Holding Company
- Schütz GmbH & Co. KGaA
- Yug Back Craft
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