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Nomex Honeycomb Market, By Aerospace & Defense Application

 

The Nomex honeycomb market is estimated to grow from USD 237.1 Million in 2015 to USD 383.3 Million by 2021, at a compound annual growth rate (CAGR) of 8.51% between 2016 and 2021. 

Browse 70 market data Tables and 31 Figures spread through 107 Pages and in-depth TOC on "Nomex Honeycomb Market”.

Nomex honeycomb manufacturers worldwide are making strategic involvements with other key players to broaden their market and explore new opportunities in the Nomex honeycomb market. North America has the largest market share in the global Nomex honeycomb market and also offers growth opportunities in new areas such as aerospace & defense and transportation applications.

Hexcel Corporation (U.S.) established a new manufacturing facility in Casablanca, Morocco in January 2016. This new facility is established to cater to the increasing demand for core structure, which involves the production of honeycomb materials, especially, for the aerospace structures. The development will enhance the honeycomb market and help accommodate the increasing demand for Nomex honeycomb. This capacity expansion will provide a competitive edge to the company and improve its market position.


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Rising use of composites in aerospace & defense industry to drive the Nomex honeycomb market

The use of composite materials and related core materials, including Nomex honeycomb, in the aerospace & defense industry has gained momentum in the past few decades. The latest Airbus now boasts a 53% usage of composite material among its long lists of new features. This shows the increase in the use of composites, which was hardly 2-5% in the past few years. One of the main reasons for the rising use of composites in aircraft is the advantages offered by honeycombs such as reduction in weight and corrosion resistance. These properties of Nomex honeycomb results in low emissions and maintenance costs in comparison to traditional materials used for manufacturing aircraft. This increasing use drives the Nomex honeycomb market.

North America is the largest market for Nomex honeycomb

North American is the biggest and the fastest-growing market for Nomex. The growing aerospace industry, industrial development, and transportation industry in the region, which are the major applications of Nomex honeycomb, is the major factor driving the Nomex honeycomb market in North America.

Read More Insights At https://www.marketsandmarkets.com/ResearchInsight/nomex-honeycomb-market.asp

 

 

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