The Hybrid Composites Market is expected to reach USD 1.49 Billion by 2026, according to a new report by Reports and Data. The Hybrid Composites Market is anticipated to show robust growth during the forecast period. The key factors driving the market are the ability to balance cost and performance characteristics which tend to stimulate the market globally.
Hybrid composites are distinguished mainly from other fabrics based on specific technical functions that need particular performance characteristics such as high durability and stability and exceptional resistance to flames, heat, and chemical agents. The balance in cost and performance provided by the hybrid composites is a significant factor propelling this market.
APAC is anticipated to witness the highest CAGR of 15.9% during the forecast period. This growth is due to the growing demand from wind energy, automotive transportation end-use enterprises. The ever increasing focus towards large automotive manufacturing is a critical factor leading to the growth of the market in this region.
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The Key players in the Hybrid Composites Market include Hexcel Corporation, SGL Carbon SE, Exel Group World Wide, TEIJIN LIMITED, Solvay, Gurit, Innegra Technologies, LLC, PlastiComp, Inc., Royal DSM N.V, General Electric
Further key findings from the report suggest
The Hybrid Composites Market is estimated to reach USD 1.49 Billion by 2026, at a CAGR of 14.8% during the forecast period.
The carbon/glass and glass/carbon fiber accounts for the largest share of 36.7% of the market in 2018.
Carbon/glass fibers are often used in the manufacturing of spare seatbacks, door panels, tire lining, boot liner, among others. It also shows high draping capacity, making it perfect for automotive manufacturers. These components help in decreasing vehicle weight and hence increases fuel efficiency.
The automotive and transportation end user segment accounts for the largest share of 27.3% of the market in 2018.
The thermoset resin type is expected to witness a higher CAGR of 14.8% during the forecast period.
The European market accounts for the largest market share of 26.2% of the market in 2018 and is expected to provide lucrative growth towards the global market, due to the presence of prominent automotive and aerospace defense equipment manufacturers leading massive demand for hybrid fabrics in the region.
Various players are developing strategies to mark their presence in the industry.
Solvay developed a new hybrid composite material in October 2017. The composite is produced using a mixture of fibers, namely carbon and glass. The resin applied is polyarylamide. The development has supported the company to enhance its presence in the hybrid composites market.
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For the purpose of this study, Reports and Data have segmented the market on the basis of Resin Type, Fiber, End User, and region:
Resin Type Outlook (Volume, Kilo Tons; and Revenue, USD Billion ; 2016-2026)
Thermoset
Thermoplastic
Fiber Outlook (Volume, Kilo Tons; and Revenue, USD Billion ; 2016-2026)
Carbon/Glass and Glass/Carbon
Aramid/Carbon
HMPP/Carbon
UHMWPE/Carbon
Others
End User Outlook (Volume, Kilo Tons; and Revenue, USD Billion ; 2016-2026)
Automotive Transportation
Marine
Aerospace Defense
Wind Energy
Others
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Regional Outlook (Volume, Square Meters; and Revenue, USD Billion ; 2016-2026)
North America
Europe
Asia Pacific
Latin America
Middle East Africa
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