Global Hybrid Composites Market was valued at US$ 436 Mn in 2017 and is expected to reach US$ 1288 Mn by 2026, at a CAGR of 14.50 % during a forecast period.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding hybrid composites market dynamics, structure by identifying and analyzing the market segments by Fiber Type, Resin, End-user, and Region and, project the global market size. Further, report also focus on competitive analysis of key players by materials, price, financial position, materials portfolio, growth strategies and regional presence. The report also provide PEST analysis, PORTERâ€™s analysis, SWOT analysis to address question of shareholders to prioritizing the efforts and investment in near future to particular market segment.
Hybrid composites are formed using two or more reinforcement fibers to combine properties of different fibers. These composites are used when longitudinal and lateral mechanical performances are required. The hybrid composites are formed by various configurations of fibers, which include fiber by fiber mixtures, skin-core-skin structures, layer-by-layer mixtures, tow-by-tow mixtures, internal ribs, and external ribs. The properties of a hybrid composite mainly depend upon the fiber content, length of individual fibres, orientation, extent of intermingling of fibres, fiber to matrix bonding and arrangement of both the fibres.
The strength of the hybrid composite is also dependent on the failure strain of individual fibres. Maximum hybrid results are obtained when the fibres are highly strain compatible. Hybrid composites provide wider opportunities to control material stiffness, strength, and cost. The major restraint of hybrid composite have high recurring costs, have very expensive repairs and maintenance. Additionally, they are low cost and lightweight. The increasing demand for lightweight aircraft and automobile across the globe owing to stringent regulations for environment protection by the US Environmental Protection Agency and the European Chemicals Agency is one of the primary factors promoting the growth of hybrid composites market.
Based on fiber type, Carbon/glass fiber hybrid composite parts are lighter and stronger than their metal counterparts, due to which, they are extensively used in many industries, including automotive & transportation and wind energy. Carbon/glass hybrid fiber composites are used in high-end vehicles to reduce the overall cost. Users can get up to 90% of carbonâ€™s benefits at a cost much lower than what they would have to incur in case of using carbon fiber. Parts made out of these hybrid composites provide a high strength to weight ratio and are devoid of corrosion.
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In terms of resins, Thermoset resins exhibit outstanding strength and crack resistance. These resins are suitable for use in automotive & transportation and marine Resins, which are some of the largest end-use industries requiring materials that possess high strength, lightweight, and flammability performance. Thermoset resin dominates the hybrid composite market owing to its wide-scale Resins in various end-use industries including automotive & transportation, aerospace & defense, wind energy, and marine.
In terms of end-user, the automotive & transportation segment accounts for highest share in terms of revenue in the global market. The automotive & transportation industry uses hybrid composites to reduce weight and increase the fuel efficiency of vehicles. The use of hybrid composites in the automotive industry has enabled good performance and luxury at economical pricing. The better cost and performance properties offered by hybrid composites is expected to drive their demand in the automotive & transportation end-use industry.
Europe is the major revenue generating region in the hybrid composites market. Europe is home to some of the major automotive and aerospace & defense equipment manufacturers, which create demand for hybrid composites in the region. The infrastructure industry in Asia-Pacific has been growing at a healthy rate in recent times. Hence, the region is estimated to witness tremendous growth rate over the assessment period in the Cement Board market.
Scope of Global Hybrid Composites Market:
Global Hybrid Composites Market, by Fiber Type:
Hmpp (High-Modulus Polypropylene)
Uhmwpe (Ultra High Molecular Weight Polyethylene)
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Global Hybrid Composites Market, by Resin:
Global Hybrid Composites Market, by End-User:
Automotive & Transportation
Aerospace & Defense
Global Hybrid Composites Market, by Region:
Middle East & Africa
Key Players Operating In Global Hybrid Composites Market:
Royal DSM N.V.