Asia-Pacific, followed by Europe and North America, held the major share in 2020, generating more than two-fifths of the global honeycomb paper market. The same region would also grow at the fastest CAGR of 6.2% by 2030. High strength ratio of honeycomb core materials make them an ideal substitute over other traditional chipboard strips and tube boards for home décor applications. The home décor sector across Asia-Pacific is gaining traction owing to rise in demand and adoption of eco-friendly products.
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Allied Market Research published a new report, titled, “Honeycomb Paper Market by Core Type (Expanded Paper Honeycomb, Expanded Paper Honeycomb Blocks Paper Honeycomb, Continuous Paper Honeycomb, Others), by Cell Size (Upto 10 mm, 10 to 30 mm, Above 30 mm), by End-use Industry (Home Decor, Transport and Logistics, Automotive, Building and Construction, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
Increase in use of expanded paper honeycomb as a substitute over traditional filling materials such as solid fillings, chipboard stripes, and tube board in interior doors and partition walls drive the growth of the global honeycomb paper market. On the other hand, poor processing performance of paper honeycomb paperboard limit the application of honeycomb paper in certain end-use industries, thereby impedes the growth to some extent.
This makes it important to understand the practical implications of the honeycomb paper market. To gain a competitive advantage, the players must have something unique. By tapping into the untapped market segment, they can establish a relevant point of differentiation, and this report offers an extension analysis of untapped segments to benefit the market players and new entrants to gain the market share.
According to the report, the global honeycomb paper industry was estimated at $6.5 billion in 2020, and is anticipated to hit $11.0 billion by 2030, registering a CAGR of 5.4% from 2021 to 2030.
KEY MARKET PLAYERS:
The report provides the SWOT analysis of the key market players including 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, MAC PACK. which gives the business overview, financial analysis, and portfolio analysis of products and services. The latest news related to industry developments in terms of market expansions, acquisitions, growth strategies, joint ventures, collaborations, product launches, market expansions etc. are included in the report for the better understanding of the stakeholders in framing strategic decisions to gain long term profitability and market share.
The home decor segment held more than two-fifths of the global honeycomb paper market revenue in 2020, and is expected to lead the trail by 2030. The same segment would also manifest the fastest CAGR of 5.8% from 2020 to 2030. This is because paper honeycomb core is widely adopted for wide home décor applications such as interior doors and interior furniture products.
NEED FOR THE REPORT:
The current situation of pandemic makes it very important for the stakeholders in the honeycomb paper market to understand the market deeply, which will help them in taking sound decisions, to gain the competitive advantage. By exploring the unexplored areas of market, the key players can surely gain a larger market share.
The 10 to 30 mm segment accounted for nearly half of the global honeycomb paper market share in 2020, and is anticipated to rule the roost by 2030. The same segment would also cite the fastest CAGR of 5.6% throughout the forecast period. Growing population coupled with rapid urbanization has surged the growth of the building & construction sector in both the developed and developing economies where of cell sizes of honeycomb paper range from 10 mm to 30 mm and are used for manufacturing cores of different interior doors.
KEY OFFERINGS OF THE REPORT:
- Key drivers & Opportunities: An extensive analysis on key factors and opportunities available in different segments for strategizing.
- Current trends & forecasts: A comprehensive analysis on latest trends, and forecasts for next few years to frame strategic decisions as a next step.
- Segmental analysis: An extensive analysis of each segment and driving factors such as revenue and growth rate is offered.
- Regional Analysis: A thorough analysis of each geographic region can help market players devise expansion strategies and gain from the opportunity.
- Competitive Landscape: Useful insights on each of the leading market players for outlining competitive scenario and related strategies have been offered in the report.
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