Posted 1/16/2024, 5:30:00 PM
Honeycomb Materials Market Booming Due to Strong Demand from Building, Automotive, and Renewable Energy Sectors
- Rapid expansion of construction sector and need for lightweight, fuel-efficient materials driving market growth
- Demand rising in building & construction and automotive industries due to infrastructure development and economic growth
- Honeycomb materials used widely in renewable energy storage systems and wind turbine blades to improve efficiency
- Limited design flexibility of honeycomb structures could restrict use in some manufacturing industries
- Asia Pacific accounted for largest revenue share in 2022, while North America saw rapid growth due to rising construction activity