Selbyville, Delaware, Sept. 15, 2020 (GLOBE NEWSWIRE) -- Based on Global Market Insights Inc., report, the Paper Honeycomb Market was estimated at $4.2 billion in 2019 and is slated to exceed $4.8 billion by 2026, registering a CAGR of 3.5% from 2020 to 2026. The report provides a thorough analysis of the major winning strategies, market estimations as well as size, main investment avenues, competitive scenarios, drivers and opportunities, and wavering industry trends.

The paper honeycomb market will showcase a significant growth owing to rapid industrialization, economic growth, and infrastructure development in the Asia Pacific and the Middle East & Africa. The development of several products coupled with enhanced acoustic and thermal insulation characteristics of advanced products will further support the industry growth over the study timeframe. Expanded applications of paper honeycomb in the residential sector are offering opportunities for industry expansion.

The continuous unexpanded core segment will exceed revenue over USD 3.9 billion in 2026. This type of core is efficient and economical for large volume users such as packaging, automotive, building, and construction. Rising building & construction activities across Asia Pacific, the Middle East, and Europe will drive core usage over the study timeframe. Furthermore, the development of advanced production processes will further support the paper honeycomb market segment growth.

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The slices unexpended core segment is expected to showcase a moderate ability to capture the market share owing to the use of these cores in customized applications. Certain industries, such as electronics and food & beverage, require cut-to-size pieces of paper honeycomb tailored to their application.

The electronics segment was valued at over USD 450 million in 2019 and is projected to grow at a CAGR of over 3.5%. Electronic applications use paper honeycomb products for packaging purposes along with the production of certain structures of electronic devices. Paper honeycomb-paper sandwich product is used in the development of a multi-layer loudspeaker cone structure. The cone structure of the loudspeaker is the weakest link in audio reproduction. It is vibrated with changing audio frequencies, thereby creating a disturbance.

Paper honeycomb structure enabled loudspeaker manufacturers to minimize such disturbances along with providing strength to the cone structure. Distribution applications, such as logistics, required solid and stable support materials to optimize the storage and transportation process. The lightweight characteristics of paper honeycomb material provide economical and better environmental logistics performances.

For distribution applications, several paper honeycomb solutions are available such as honeycomb pallets, product spacers and fillers, and corner protectors. The superior integration of lightweight and strength into weight ratio enabled the paper honeycomb solution to offer around 60% to 80% weight reduction compared to conventional pallet solutions. The rapidly growing electronics industry across the globe is expected to drive the paper honeycomb market demand.

Some major findings of the paper honeycomb market report include:

1. High electronics demand and production across the globe
2. Growing demand for personal vehicles due to the COVID-19 pandemic will fuel the product demand
3. Increasing demand for home appliances in Europe
4. The continuous unexpanded core will register the highest demand
5. Increasing product usage in the furniture industry

North America is expected to hold a considerable volumetric share of close to 18% in 2026. The excellent strength to weight ratio, lightweight, and good acoustics characteristics of paper honeycomb products along with the development of new products will drive the paper honeycomb market consumption in the region.

The computer and electronic component sector are one of the key economic sectors in the region. The rising demand for electronic components along with the development of new products will further drive the paper honeycomb market growth over the projected timeframe. Stringent emission regulations adopted by the U.S. are expected to drive the paper honeycomb market share.

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Prominent market players analyzed in the paper honeycomb industry report include The Mosaic Company, Haifa Group, Israel Chemical Ltd. (ICL), K+S Aktiengesellschaft, Nutrien Ltd., and Yara International ASA among others. They have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting, and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.

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