Global Hybrid Composites Market – Industry Trends and Forecast to 2029

Market Analysis and Size

Hybrid composites are used in those applications where a combination of properties offered through different reinforcing fibers is required. The asset of the hybrid composite is also dependent on the failure strain of individual fibers. Hybrid composites deliver broader opportunities to control material strength, stiffness, and expense. Furthermore, due to lightweight and low price, hybrid composites are highly appropriate for use in transportation, automobile and aerospace industries. These industries require lightweight materials with flammability and high strength performance. Construction and Building are anticipated to be the rapidly developing sectors of the hybrid composites market globally.

Data Bridge Market Research analyses that the hybrid composites market was valued at USD 641.21 million in 2021 and is expected to reach USD 1793.47 million by 2029, registering a CAGR of 13.72 % during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.

Report Scope and Market Segmentation

Market Definition

Hybrid composites are the composites that have a combination of two or more reinforcement fibres.
The most common hybrid composites are glass-carbon reinforced epoxy because it gives a strong material at reasonable costs and carbon-aramid reinforced epoxy because it increases the combines strength and impact of resistance. Hybrid composites are commonly used when lateral as well as longitudinal mechanical performances are required and when a combination of properties of different kinds of fibres wants to be achieved.

Hybrid Composites Market Dynamics

Drivers

• Rise the demand in automotive sector

The automobile manufacturers like BMW, Merced’s, Audi, and Volkswagen already used these composites for making exterior and interior parts of automobiles. Due to the evolution of several type of hybrid composites in automotive applications for example in application of automotive piston, development of environmental friendly automotive, anti-roll bar brake friction material for medium duty automotive application, and low-velocity impact response of hybrid carbon/glass fiber-reinforced polymer composites, these are some factors which are expected to increase the growth of the hybrid composite market.

• Rise in demand due to water absorption property

The water absorption property of these composites decreases the bonding between the fibers and matrix, which leads to reduction in the properties of composites. So the fibre reinforced composites can be used in areas where we need less interaction of product with water. The help of chemical treatment can reduce this property of fibres.

• Rise the demand in defence and aerospace sector

The demand from of hybrid composite from defence and the aerospace sector will generate exceptional demand for the product. In current period, increase the use of hybrid composite in the aerospace market. In the aerospace industry, aerospace equipment requires ultra-edge composites which can sustain the product, all these factors will be the reason of excellent revenue in the hybrid composites market. 

Opportunities

The rising application will create growth opportunities for the hybrid composites market and increase the adoption into several markets. In transportation and automotive increase the use of glass fibre material. Fibre and Glass composites have high strength and lightweight properties, increasing the demand for these composites in the market. The hybrid material provides cost-effectiveness and high performance of fibreglass which attract end-users. This sector of the market will witness for high development in coming years. 

Moreover, upsurge in emerging new market and strategic collaborations will act as market drivers and further increase useful opportunities for the market's growth rate.

Restraints/ Challenges

However, high technology cost and high manufacturing cost of hybrid composites will hinder the hybrid composite growth rate. Moisture absorption of this composite fibres is very high, which decreases the bond between matrix and the fibre lower durability. Poor fire resistance and time consuming are some factors projected hamper the growth of the potential market.

This hybrid composites market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the hybrid composites market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Hybrid Composites Market

The emergence of the covid-19 pandemic is harming several developing countries, the spread of the corona virus is rapid. Oxygen beds, Staff, medicines, and ventilators are all in short supply in the hospital. Due to the outbreak of covid-19 disrupted the Supply chains, production activities being also disrupted in many countries, all these factors have adverse effects on the hybrid composite market. However, the post covid-19 situation will be favorable to the market because new developments will occur during the forecast period. 

Global Hybrid Composites Market Scope

The hybrid composites market is segmented on the basis fibre, resin and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Fiber

• Carbon or Glass
• Aramid or Carbon
• HMPP
• UHMWPE
• Others

 Resin

• Thermoset
• Thermoplastic

End-User

• Automotive and Transportation
• Aerospace and Defence
• Wind Energy
• Marine
• Sporting Goods
• Others

Hybrid Composites Market Regional Analysis/Insights

The hybrid composites market is analysed and market size insights and trends are provided by country, fiber, resin and end-user as referenced above.

The countries covered in the hybrid composites market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

During the forecast period, North America dominates the hybrid composites market in terms of revenue and market share. This is due to the increasing demand for hybrid composites in this region. The North America region leads the hybrid composites market due to the significant growth of industries such as marine, automotive, defence and aerospace in this region

During the projected period, Asia-Pacific is anticipated to be the fastest developing region because of the rise in the expansion of manufacturing industries and increased automotive production in this region.

 The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Hybrid Composites Market Share Analysis

The hybrid composites market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to hybrid composites market.

Some of the major players operating in the hybrid composites market are:

• Quantum Composites (US)
• Textum OPCO, LLC (US)
• Composites Evolution (UK)
• DEVOLD AMT (Norway)
• Taiyuan Heavy Industry Co.,Ltd (China)
• STRUCTeam (UK)
• RTP Company (USA)
• G. Angeloni s.r.l (Italy)
• Talon Technology Co.,Ltd (US)
• Rock West Composites, Inc (US)
• COLAN AUSTRALIA, (Australia)
• CIT Composite Materials Italy (Italy)
• SGL Carbon (Germany)
• Gurit (Switzerland)
• Hexcel Corporation (US)
• Exel Composites (Finland)
• General Electric (US)
• Solvay (Belgium)
• LANXESS (Germany)
• Avient Corporation (US)
• Aerodyn GmbH (Germany)
• C. Cramer, Weberei, GmbH & Co. KG (Germany)
• Innegra Technologies, LLC (US)
• Teijin Aramid B.V (Japan)

SKU-57244