SAN FRANCISCO, Feb. 13, 2019 /PRNewswire/ -- The global honeycomb packaging market is expected to display higher growth rate over the next seven years. Rapid surge in market is credited to the increasing demand from various manufacturing industries across the globe. Honeycomb packaging solutions are largely utilized in various manufacturing and retail applications. Increasing adoption of the honeycomb packaging is credited to their lightweight and eco-friendly nature, thus rocketing the demand in the recent years. Globally, honeycomb packaging market is predicted to generate massive revenue over the next seven years, providing numerous opportunities for industry participants to invest in research and development of honeycomb packaging solutions.
The honeycomb structures are available in the forms like Nomex honeycomb, thermoplastic honeycomb and aluminum honeycomb. The honeycomb structures offer advantages such as stiffness, light in weight, thermal transfer or insulation, strength, and dampening of vibration or noise. The type of honeycomb structures for use must be determined as per the nature of application. Typical application of honeycomb packaging includes manufacturing of air bags in automobiles, safety gears like bulletproof jackets, the electronic circuit boards, communication antenna, rocket components, aircraft and missiles. Furthermore, increasing consumer awareness about environmental hazards with excessive use of plastic and complete ban on the use of the lightweight plastic materials in few countries are expected to amplify market growth over the forecast period. Improved financial condition and growing concerns regarding environmental hazards among BRICs nations are anticipated to escalate market value of honeycomb packaging industry soon.
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In addition, shift from rigid packaging solutions to honeycomb packaging solutions and the complete ban on the lightweight plastic bags are driving market growth in the present times. The honeycomb packaging market is broadly categorized into three major segments based on the packaging type such as exterior packaging, interior packaging, and pallets packaging solutions. Exterior packaging segment is growing rapidly in the honeycomb packaging market with substantial revenue generation in the last few years. Growing popularity of honeycomb packaging in exterior packaging segment is attributed to the increasing product penetration and rise in number of online distribution channels. The honeycomb packaging market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in implementation of latest technologies in packaging sector, surge in number of research & development activities and existence of well-established industrial infrastructure in the region. In European region, Germany, France, and United Kingdom are projected to witness steady growth. Asia-Pacific region is estimated to hold a major share in the honeycomb packaging market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with rapid industrialization, rising number of manufacturing units, and significant investment by leading industry players considering potential growth opportunities in the region.
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The key players in the honeycomb packaging market are BASF SE, ACH Foam Technologies, DS Smith plc, HUHTAMAKI GROUP, Lsquare Eco-Products Pvt., Ltd., and Packaging Corporation of America, Sealed Air Corp., Sonoco Products Co., Smurfit Kappa Group plc, and WestRock Company. Global Market for honeycomb packaging to 2023 offers detailed coverage of honeycomb packaging industry and presents main market trends. The market research gives historical and forecast market size, demand and production forecasts, end-use demand details, price trends, and company shares of the leading honeycomb packaging producers to provide exhaustive coverage of the honeycomb packaging.
- Report contents include:
- Analysis of the honeycomb packaging market including revenues, future growth, market outlook
- Historical data and forecast
- Regional analysis including growth estimates
- Analyzes the end user markets including growth estimates.
- Profiles on honeycomb packaging including products, sales/revenues, and market position
- Market structure, market drivers and restraints.
- Key regions:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
- Key Vendors:
- request free sample to get a complete list of companies
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