Hybrid Composites Market Type Research Report 2020 Global Demand And Forecasts To 2027

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The hybrid composites market size is projected to grow by 12% for the forecast period.

Hybrid Composites Market Type Research Report 2020 Global Demand And Forecasts To 2027

Hybrid composites refer to composites which are composed of two or more reinforcement fibres, generally one organic in nature and the other inorganic. Their composition offers more design freedom as compared to non-hybrid composites as the addition of a second type of additional fibres increases the toughness of the hybrid composites and can render combined advantages of individual components. The global hybrid composites market is expected to grow steadily and reach a significant valuation by the end of the forecast period of 2020-2027, affirms Market Research Future (MRFR) in a detailed study.

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Hybrid composites are used across an array of industrial applications. Properties such as tensile modulus, stiffness, balanced bending, thermal distortion stability, improved fatigue resistance, compressive strength and impact strength make them highly desirable in applications where high performance is required.

The automotive industry extensively makes use of hybrid composites. Due to the pressing need to reduce emissions and strict regulatory norms monitoring the same, the automotive industry has put high emphasis on reduction of automotive parts' weight. Substituting other materials with hybrid composites help automakers achieve lighter weight parts due to which hybrid composites experience high demand from the automotive industry. Moreover, hybrid composites have high relevance in aeronautical applications. High stress is laid down on safety and weight of aircrafts

Fast track industrialization and urbanization across the globe, especially in the developing countries has brought about significant growth opportunities to the global hybrid composites market. Composites are well known in the renewable energies arena too which is also contributing to the growth of the market.

Researchers have showcased deep interest in investigating novel applications of hybrid composites has resulted in substantial progress in the field. Advancements in hybrid composites have opened up possibilities for application in new use cases across a range of industrial sectors which is also promoting the growth of the global hybrid composites market. However, high cost involved in processing hybrid composites remains a bottleneck to the market growth.

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The global hybrid composites market has been segmented based on fibre type, resin type, and end use industry.

By fibre type, the global Hybrid Composites Market has been segmented into carbon/glass, carbon/aramid, metal/plastic, wood/plastic, HMPP/carbon, UHMWPE/carbon, and others.

By resin type, the global hybrid composites market has been segmented into thermoplastic and thermosetting.

By end use industry, the global hybrid composites market has been segmented into aerospace defence, building construction, automotive transportation, wind energy, marine, and others.

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Competitive Landscape

Royal DSM (the Netherlands), Exel Group World Wide (Finland), Innegra Technologies, LLC (US), PlastiComp, Inc. (US), SGL Group The Carbon Company (Germany), Quantum Composites (US), Hexcel Corporation (US), TEIJIN LIMITED (Japan), Gurit (Switzerland), and Solvay (Belgium) are the notable players in the global hybrid composites market.

Industry Updates

March 2019 - The marriage between induction and laser with online process control and non-destructive testing has paved the way for the production of hybrid composite materials. The facility funded by European Union will provide solutions across various industries such as automotive.

Regional Analysis

The global hybrid composites market has been segmented into North America, Latin America, Asia Pacific (APAC), Europe, and the Middle East Africa (MEA).

APAC is the largest market for hybrid composites and held the most significant market share in 2017. Fast-track industrialization in the region has paved the way for growth of the hybrid composites market in the region. In addition, booming construction and automotive industry generate continuous demand for hybrid composites.

North America stood at second position in 2017 and is a significant market for hybrid composites. The aerospace industry is the key demand generator for hybrid composites in the region. However, the steady automotive and construction industry are also boding well for the North America market.

The Europe market is driven by increasing demand for hybrid composites in the production of automotive parts in the region.

The Latin America market is fuelled by expansion automotive industry in the region, especially in Brazil and Argentina.

Lastly, the MEA market is expanding due to extensive infrastructural activities in the region which induce considerable demand for hybrid composites.

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