Global Honeycomb Paper Market is valued at approximately USD 6.9 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 5.4% over the forecast period 2022-2029. Honeycomb paper is a lightweight and environmentally friendly material that is utilized in a range of applications. Paper is cut into a series of hexagonal cells, which are then glued together to create the structure of a honeycomb. The end product is a robust, stiff, and lightweight material that is perfect for use in furniture, insulation, packaging, and other applications where strength and weight are crucial factors. Since recycled paper is often used in the production of honeycomb paper, it is a sustainable and green product. It is a popular choice for many industries because it is also easily made and economically priced. The cells’ hexagonal structure adds to their strength and stability, and the air pockets they contain have superior insulating qualities. The market demand is primarily driven by the factors such as the surge in the need for lightweight packaging solutions in a variety of sectors, including food and beverage, car parts, and protective packaging for glass, coupled with the increased focus being given to developing infrastructure that will provide a calm and convenient environment in public spaces, as well as the expanding use of paper honeycomb products in industrial packaging because of their superior compressive strength.
In addition, the global increase in automotive vehicle manufacturing is acting as a major driving factor for market growth. According to Statista, in 2021, over 80 billion automobiles will be built worldwide. When compared to the previous year, this figure represents a 3% gain. In 2020, China, Japan, and Germany were the top three manufacturers of automobiles and commercial vehicles, thus, in turn, these factors are expected to escalate the demand for vaccines in the global market. Furthermore, the rapid industrialization and emerging economies, as well as utilizing advanced materials and reducing vehicle unsprung weight are presenting lucrative opportunities for market growth over the forthcoming years. However, fluctuation in the availability and cost of raw materials is restricting the market growth over the forecast period of 2022-2029.
The key regions considered for the Global Honeycomb Paper Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific dominated the market in terms of revenue, owing to the large population and a growing economy, which is driving the demand for eco-friendly and cost-effective materials in various industries such as packaging, furniture, automotive, and construction. China is the largest producer and consumer of honeycomb paper in the region, followed by Japan and India. Whereas, Europe is also expected to grow at the highest growth rate over the forecasting period. Factors such as demand for sustainable and lightweight materials in various industries are burgeoning the market growth in the forecasting years.
Major market players included in this report are:
Lsquare Eco Products Pvt. Ltd.
EcoGlobe Packaging Private Limited
Greencore Paper Conversion Pvt. Ltd.
Crown Holdings Inc.
Schütz GmbH & Co. KGaA
Honicel Nederland B.V.
In November 2021, Schütz and Bayern-Fass have been working together successfully in the reconditioning of industrial packaging for decades. Currently, the businesses are strengthening their alliance once more as Schütz buys a small interest in Bayern-Fass. The united objective is to promote the closed loop economy model and boost service and quality once again in line with the sustainability concept.
Global Honeycomb Paper Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Core Type, Cell Size, End-Use, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Core Type:
Expanded Paper Honeycomb
Blocks Paper Honeycomb
Continuous Paper Honeycomb
By Cell Size:
Up to 10 mm
10 to 30 mm
Above 30 mm
Transport and Logistics
Building and Construction
Rest of the World