The home decor segment accounted for more than two-fifths of the global honeycomb paper market revenue in 2020 and is projected to maintain dominance by 2030

WILMINGTON, DELAWARE, UNITED STATES, February 12, 2024 /EINPresswire.com/ — Allied Market Research recently released a report titled “Honeycomb Paper Market by Core Type, Cell Size, End-use Industry: Global Opportunity Analysis and Industry Forecast, 2020-2030.” According to the report, the global honeycomb paper industry was valued at $6.5 billion in 2020 and is projected to reach $11.0 billion by 2030, with a compound annual growth rate (CAGR) of 5.4% from 2021 to 2030.

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Market Drivers, Restraints, and Opportunities:

The increased use of expanded paper honeycomb as a substitute for traditional filling materials such as solid fillings, chipboard stripes, and tube board in interior doors and partition walls is driving the growth of the global honeycomb paper market. However, the poor processing performance of paper honeycomb paperboard limits its application in certain industries. Despite this limitation, paper honeycomb pallets are widely used and preferred for air shipments due to their low weight and durability, creating significant opportunities in the industry.

COVID-19 Impact:

The COVID-19 pandemic initially led to the closure of various industry sectors, resulting in decreased demand for honeycomb paper across several industries. However, as most industries have resumed operations, the global honeycomb paper market is expected to recover soon.

Market Segmentation and Trends:

By Cell Size: The 10 to 30 mm segment held nearly half of the global honeycomb paper market share in 2020 and is expected to maintain dominance by 2030, with the fastest CAGR of 5.6%. This growth is attributed to the increasing demand in the building and construction sector, driven by population growth and rapid urbanization.

By End-use Industry: The home decor segment accounted for more than two-fifths of the global honeycomb paper market revenue in 2020 and is projected to maintain dominance by 2030, with the fastest CAGR of 5.8%. Paper honeycomb cores are widely used in various home decor applications such as interior doors and furniture products.

Regional Analysis:

Asia-Pacific, followed by Europe and North America, dominated the market in 2020, generating more than two-fifths of the global honeycomb paper market revenue. Asia-Pacific is expected to grow at the fastest CAGR of 6.2% by 2030, driven by the rising demand for eco-friendly products in the home decor sector.
Key Players:

Some of the key players in the honeycomb paper market include Lsquare Eco Products Pvt. Ltd., Greencore Packaging, Honicel Nederland B.V., EcoGlobe Packaging Private Limited, Helios Packaging, MAC PACK, Axxor, Crown Holdings Inc., Schütz GmbH & Co. KGaA, and YOJ Pack-Kraft.

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