PUNE, India, April 13, 2016 /PRNewswire/ --
The report "Nomex Honeycomb Market by Application (Aerospace & Defense, Transportation, Sporting Goods and Others) by Aerospace & Defense, Sub Application (Interior and Exterior), and by Region - Global Forecasts to 2021", published by MarketsandMarkets, The global market is projected 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.
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Browse 70 market data Tables and 31 Figures spread through 107 Pages and in-depth TOC on "Nomex Honeycomb Market"
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The Nomex honeycomb market is mainly dominated by the aerospace & defense application. They are widely used in transportation and aerospace applications along with composites as they provide additional strength. The increase in the demand for corrosion and heat resistant products encourages the use of reliable components made from Nomex honeycomb in aerospace & defense and transportation applications. Nomex honeycomb also have good electrical insulating properties.
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.
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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.
The major players in the Nomex honeycomb market include:
MarketsandMarkets broadly segments the Nomex honeycomb market on the basis of region and application. The study covers more than 10 countries of the four main regions namely, North America, Europe, Asia-Pacific, and the RoW.
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