The Global Honeycomb Paper Market Size is valued at 7.45 billion in 2023 and is predicted to reach 11.99 billion by the year 2031 at an 6.33% CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
- The honeycomb paper is highly utilized due to its high-pressure strength, enhanced distortion capabilities, and completely recyclable nature, which lead to market growth.
- The proliferation of e-commerce platforms and cost-effectiveness stemming from their lightweight composition around the globe is expected to drive industry growth.
- North America dominated the market and accounted for a global revenue share in 2023.
- One of the significant concerns restraining honeycomb paper products is that they can be priced higher than average because some producers need help to afford their initial expenditures and manufacturing costs.
A structure known as a honeycomb can either be found in nature or be made artificially. Honeycomb packaging materials are made by sandwiching honeycomb paper between two thin sheets. Several items made of honeycomb paper are sold in the market including honeycomb pallets and paperboards.
An expanded paper honeycomb (EPH) is a kind of paper honeycomb that has been dried out, expanded, and then cut into the desired size. Applications for this kind of paper honeycomb include interior doors, divider walls, and automotive parts. It is employed as a core-filling material in these places.
Paper honeycomb is frequently used as a core material and sandwich material between the facings of softwood, hardboard plywood, plasterboard, and other materials due to qualities including high-pressure strength, enhanced deformation capabilities, and 100% recycling. Paper honeycomb is a frequently utilized material in automobile applications such as sunshades, tyre covers for spare tires, door trim panels, and roofing due to physical characteristics including stiffness and weight-to-strength ratio.
Additionally, it can be used successfully to reduce automotive weight, which helps to increase fuel efficiency. Honeycomb paper is a frequently utilized material in the building and construction business as lightweight and paper-based materials acquire relevance in the sector. All these factors are driving the market growth over the forecast period.
Recent Development-
- In 2020, honeycomb paper prices were high in the Asia-Pacific area. The increase in price was brought on by persistent regional demand trends and limited product supply. Stronger upstream prices and robust downstream demand for honeycomb paper are anticipated to support the price increase.
- In 2019, the innovative solution allowed automakers to reduce automobile trunk floor weight by 20% without compromising component strength.
Competitive Landscape:
Some of the honeycomb paper market players are:
- American Containers
- Axxor
- Crown Holdings Inc.,
- DuPont
- EcoGlobe Packaging Private Limited
- Greencore Packaging
- Grigeo AB
- Helios Packaging
- Hexagonas Mexicanos
- Hexcel Corporation
- Honecore
- Honicel Nederland B.V.
- IPC Industrial Packaging Corporation
- Lsquare Eco Products Pvt. Ltd.,
- MAC PACK
- PCA Hexacomb
- Schütz GmbH & Co. KGaA
- Smurfit Kappa
- Sunrise MFG Inc.
- YOJ Pack-Kraft
Market Segmentation:
The honeycomb paper market is segmented into core type, cell size and end-user industry. Based on core type, the market is segmented into expanded paper honeycomb, expanded paper honeycomb blocks paper honeycomb, and continuous paper honeycomb. Based on cell size, the market is subdivided into Upto 10 mm, 10 to 30 mm and above 30 mm. Based on end-user industry, the market is again segmented into home décor, transport and logistics, automotive, building and construction, and others.
Based On The End-Use Industry, The Home Décor Segment Is Accounted As A Major Contributor To The Honeycomb Paper Market
Home decor is expected to continue to dominate the global market and expand at a CAGR of 5.8% over the next five years. The primary market trend is the widespread adoption of paper honeycomb core for various home décor applications, including interior doors and interior furniture products. Additionally, honeycomb core materials are a great alternative to conventional chipboard strips and tube boards for home decor applications due to their high strength ratio. The use of honeycomb core materials helps to reduce overall weight without sacrificing the aesthetic appeal and structural integrity of furniture by acting as a cheap, robust infill material for sandwich panels used to make furniture.
The 10-30 Mm Cell Segment Witness Growth At A Rapid Rate
The market share for 10-30 mm cell size was 47% in 2020, and it is anticipated to increase at the highest CAGR of 5.6% over the forecast period. Honeycomb paper cells with a size of 10mm to 30mm are used in sliding, flush, and doors lined with high-density fiberboard (HDF) or ply. Standard cell sizes of 15mm, 21mm, and 28mm are typically highly favored by furniture producers, architects, the transport and logistics sector, and automobile producers.
In The Region, The Asia Pacific Honeycomb Paper Market Holds A Significant Revenue Share
The Asia Pacific is anticipated to hold the largest market share over the forecast period. The fast industrialization, environmental sustainability, and corrugated packaging's favorable cost-benefit ratio have all contributed to a growth in demand for paper honeycomb board packaging in the area. The demand for honeycomb paper board packaging materials has increased recently as a result of the expansion of E-commerce in China and India. The demand from the e-commerce sector is anticipated to rise further as more new multinational e-commerce businesses enter the expanding markets. Besides, due to the swift growth and development seen in the logistics and electronics industries in nations like Germany and Italy, Europe is predicted to present lucrative growth prospects for the worldwide honeycomb paper market.
Honeycomb Paper Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2023 |
USD 7.45 Bn |
|
Revenue forecast in 2031 |
USD 11.99 Bn |
|
Growth rate CAGR |
CAGR of 6.33% from 2024 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Million, Volume (Kilotons) and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
|
Segments covered |
Core Type, Cell Size and End-User |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
|
Competitive Landscape |
Lsquare Eco Products Pvt. Ltd., EcoGlobe Packaging Private Limited, Greencore Packaging, Crown Holdings Inc., Schütz GmbH & Co. KGaA, Honicel Nederland B.V., Axxor, YOJ Pack-Kraft, Helios Packaging and MAC PACK. |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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