The global honeycomb board market is likely to reach a value of US$ 2.26 billion by the end of 2033 and likely to grow at a compound annual growth rate of 6.5% during the forecast period.

The growth of the packaging industry is fastening because of the strong penchant of consumers towards e-Commerce. This, in turn, is altering the dynamics of the packaging materials used in the industry. The material industry has loudly heard the requests from the logistics sector to packaging companies to reduce freight costs occasioned by weight of packaging. This rang a series of events that finally culminated in the development of honeycomb technology, sandwiching inexpensive, lightweight panels together in a structure resembling honeycomb.

A honeycomb core, much like the one in a beehive, and two surface-covering materials that sandwich it to provide a strong framework are usually used to create rather distinct panels inspired by nature. When this honeycomb core is placed between two layers, it creates excellent cushioning with strong tensile strength and efficient shock-absorbing capabilities.

Key Driving Forces Accelerating the Market Growth

Honeycomb boards, with fabulous strength-to-weight ratios and cushioning properties, have made them preferred for use in packaging. On a high note, the increasing demand for green and lightweight packaging solutions in various industries such as e-commerce, consumer goods, automotive, and electronics is vastly fueling the growth of the honeycomb board market. The major use of honeycomb boards is not only realized in packaging but also in construction industries in the manufacture of doors, partitions, ceilings, and furniture components. Basically, the rise in construction activities in both the residential and commercial sectors has led to increasing demands for lightweight, durable, and cost-effective solutions through these boards.

Made of eco-friendly materials like paper and cardboard, honeycomb boards are recyclable and biodegradable, and thus their use increases with the growing concerns toward sustainability and the environment. This green advantage slowly and steadily shifts preferences to honeycomb boards from traditional materials like wood or plastic. Apart from this, honeycomb boards find broad application in pallets, crates, dunnage, and protective packaging in the transportation and logistics industries. They offer maximum strength, rigidity, and impact resistance with minimum weight, thus offering fuel efficiency, lower freight costs, and better protection to products during transit. This mix of eco-friendliness and functional performance is helping the honeycomb board market to grow.

Key Companies Profiled In this Report

DuPont
Honeycomb Cellpack A/S
3A Composites GmbH
Corex Honeycomb
Honecore
Premier Packaging Products
Hexcel Corporation
Grigeo, AB
Rebul Packaging

Competitive Landscape

The top companies involved in the manufacture of honeycomb boards are entering into supply contracting with other firms and also devising new products to stay ahead in the competition. Quality assurance, product quality, and price trends are the criteria on which companies are laying focus to maintain their position in the market.

In 2019, Green & Light Company collaborated with BASF SE to produce an advanced variant of Elastoskin-a honeycomb board product used in automobile trunk floors.

In 2020, Toray Advanced Composites, EconCore—a thermoplastic honeycomb core technology pioneer—and Bostik jointly developed FST-certified thermoplastic honeycomb panels for use in mass transportation applications, including airplane interiors.

How Big is the Honeycomb Packaging Market?

The global honeycomb board market, including honeycomb packaging, is valued at US$ 1.2 billion in 2023 and is expected to reach US$ 2.26 billion by 2033. The CAGR from 2023 to 2033 is projected at 6.5%. As already mentioned, the packaging segment leads the market in terms of value share with 42% of the total market. The demand for honeycomb boards in packaging has been increasing and is driving manufacturers to develop lightweight, strong, eco-friendly, satisfactorily protective materials during transit.

What is the Demand for Honeycomb Paper?

The demand for this product in furniture and logistic industries is gaining impetus. Honeycomb paper is lightweight, sturdy, and eco-friendly. This product finds wide application in the manufacture of low-cost furniture parts, such as doors, drawers, and cupboards, and also in the fixing of small parts while they are in transit. Growing demand stems from interest in eco-friendly materials and efficient packaging solutions that reduce damages to products during transport. Honeycomb paper is recyclable and biodegradable, hence its preference in sustainable packaging.