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Global Hybrid Composite Market – Industry Trends and Forecast to 2030

Chemical and Materials

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Global Hybrid Composite Market – Industry Trends and Forecast to 2030

  • Chemical and Materials
  • Upcoming Report
  • Jun 2023
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Hybrid Composite Market – Industry Trends and Forecast to 2030

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2021–2029
Diagram Market Size (Base Year) USD 729.18 Million
Diagram Market Size (Forecast Year) USD 2039.54 Million
Diagram CAGR %

Global Hybrid Composite Market, By Fibre (Carbon or Glass, Aramid or Carbon, HMPP, UHMWPE, Others), Resin (Thermoset, Thermoplastic), End-Use (Automotive and Transportation, Aerospace and Defence, Wind Energy, Marine, Sporting Goods, Others) – Industry Trends and Forecast to 2030.

Global Hybrid Composite Market

Hybrid Composite Market Analysis and Size

Hybrid composites are materials that are fabricated by combining two or more different types of fibers within a common matrix. Currently most hybrid composites are made only with synthetic fibers such as Kevlar with carbon, Kevlar with fiberglass, carbon with fiberglass, etc. hybrid composite widely used in aerospace, automotive, construction and household purposes.                 

Data Bridge Market Research analyses that the Hybrid Composite market which was USD 729.18 million in 2022, would rocket up to USD 2,039.54 million by 2030, and is expected to undergo a CAGR of 12.40% during the forecast period. This indicates that the market value. “automotive” dominates the end-use segment of the hybrid composite market by their versatile properties like light weight, strength to weight ratio, low cost which will raise the demand of the product in automotive sector. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015-2020)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

By Fibre (Carbon or Glass, Aramid or Carbon, HMPP, UHMWPE, Others), Resin (Thermoset, Thermoplastic), End-Use (Automotive and Transportation, Aerospace and Defence, Wind Energy, Marine, Sporting Goods, Others)

Countries Covered

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.

Market Players Covered

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)

Market Opportunities

  • Growth in the deployment of advanced technologies
  • High cost of raw material
  • Rising research and development opportunities

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 Composite Market Dynamics

Drivers

  • Rise the demand in automotive sector

The automobile manufacturers like BMW, Merced’s, Audi, ad Volkswagen already used these composites for making exteriors 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 fibre-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 fibres 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 products with water. The help of chemical treatment can reduce this property of fibres.

  • Rise in demand due to water absorption property

The demand of hybrid composite from defence and the aerospace sector will generate exceptional demand for the product. In the 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. Increasing adoption of glass fibre material can be seen in automotive and transportation sector which will extend profitable opportunities for the market players in the forecast period of 2023 to 2030. Additionally, rising internet penetration rate, increasing adoption of arthroscopic surgeries, rise in the elderly and obese population globally and increasing per capita expenditure on health care will further expand the market's growth rate in the future. 

Restraints/Challenges

On the other hand, high technology cost and high manufacturing cost of hybrid composites will hinder the hybrid composite growth rate. Additionally, moisture absorption of this composite fibres is very high which will expected to obstruct market growth. Also, lack of favorable reimbursement scenario and technology penetration in the developing economies, heavy custom duty imposed on the medical devices, and lack of suitable infrastructure in low- and middle-income countries are projected to challenge the market in the forecast period of 2023-2030.

This Hybrid Composite 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 Composite market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Development

  • In March 2023, Tenneco's FERODO original equipment (OE) braking business has introduced innovative copper-free hybrid friction material composites, catering to the performance and comfort needs of both internal combustion engine (ICE) and electric vehicles (EVs). These hybrid pads combine the advantages of low steel (LS) and non-asbestos-organic (NAO) composites, delivering optimal braking performance and comfort.
  • In October 2021, SHD Group is proud to announce the launch of two new epoxy prepreg systems namely MTB350 and LTB310-1, these new products launch will help to expand the more environment friendly composite solutions product portfolio.

Global Hybrid Composite Market Scope

The Hybrid Composite market is segmented on the basis of 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.

Fibre

  • 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 Composite Market Regional Analysis/Insights

The Hybrid Composite market is analysed and market size insights and trends are provided by country, fibre, resin and end user as referenced above.

The countries covered in the Hybrid Composite 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.

North America dominates the Hybrid Composite market due to the increasing demand for hybrid composites and significant growth of industries such as marine, automotive, defence and aerospace in this region.

Asia-Pacific is expected to witness significant growth during the forecast period of 2023 to 2030 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 regulation in the market domestically that impacts 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.   

Automotive Infrastructure growth Installed base and New Technology Penetration

The Hybrid Composite market also provides you with detailed market analysis for every country growth in automotive expenditure for capital equipment, installed base of different kind of products for Hybrid Composite market, impact of technology using life line curves and changes in automotive regulatory scenarios and their impact on the Hybrid Composite market. The data is available for historic period 2015-2020.

Competitive Landscape and Hybrid Composite Market Share Analysis

The Hybrid Composite 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 Composite market.

Some of the major players operating in the Hybrid Composite 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)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

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FREQUENTLY ASK QUESTIONS

The Hybrid Composite market is expected to undergo a CAGR of 12.40% and, would rocket up to USD 2,039.54 million by 2030, which was USD 729.18 million in 2022.
The countries covered in the Hybrid Composite 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.
The Hybrid Composite market is segmented on the basis of fibre, resin and end user.
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.
North America dominates the Hybrid Composite market due to the increasing demand for hybrid composites and significant growth of industries such as marine, automotive, defence and aerospace in this region.
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