Hybrid Composites Market Report

Market Insights

Hybrid Composites Market is likely to grow from USD 596.79 million in 2021 to USD 1672 million by 2028 at an impressive CAGR of 15.5% during the forecast period of 2022-2028.

What is hybrid composite?

Hybrid Composites have more than two reinforcement fibers combined together. Such composites are known for their high strength and high-resistance properties.

Hybrid Composites can be of different types such as carbon-glass, aramid-carbon, and others. Automotive, marine, aerospace, wind energy, sporting goods, and others are the application areas where hybrid composites are used.

Market Drivers

High demand from the automotive & transportation, sporting goods, and wind energy end-use industries is the major factor driving the hybrid composites market. Owing to the ability of reducing weight and being stronger than their metallic counterparts, hybrid composite products are preferred. The market portrayed robust growth in the past few years owing to the increasing use in the US, Germany, China, Brazil, and Japan.

Wish to get a free sample? 

Segments' Analysis

By Fiber Type

Based on the fiber type, the market is segmented as carbon/glass and glass/carbon, aramid/carbon, HMPP/carbon, UHMWPE/carbon, and others. Carbon/glass and glass/carbon accounted for more than 40% market share in 2021 and are estimated to lead the market during the forecast period. The growth is owing to their extensive use in the automotive & transportation and wind energy industries.  

By Resin Type

Based on the resin type, the market is segmented as thermoset and thermoplastic. The thermoset resin segment accounted for more than 60% market share in 2021 and is expected to dominate the market in the coming five years. Thermoset resins own remarkable strength and crack resistance. These resins are felicitous for employment in automotive & transportation and marine applications, which are some of the largest end-use industries calling for materials that bear lightweight, high strength, and flammability performance. Thermoset resins command the hybrid composites market supported by their extensive applications in various end-use industries including aerospace & defense, automotive & transportation, wind energy, and marine.  

By End-Use Industry Type

Based on the end-use industry type, the market is segmented as automotive & transportation, marine, aerospace & defense, wind energy, sporting goods, and others. The automotive & transportation segment will lead the market during the forecast period. The growth is owing to the practice that 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 sponsored good performance and luxury at economical pricing. The better cost and performance properties offered by hybrid composites is expected to bolster their demand in the automotive & transportation end-use industry in the coming five years.

Get the full scope of the report. 

By Region

In terms of regions, Europe is expected to lead the global hybrid composites market. The growth is owing to the region experiencing maximum developments in the hybrid composites market. A large number of automotive and aerospace component manufacturers across the region are continuously engaged in product innovations and development in this region. The manufacturers across the region are adopting various growth strategies to underpin their position in the market.

Market Scope & segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The hybrid composites market is segmented into the following categories. 

By Fiber Type:

• Carbon/Glass and Glass/Carbon
• Aramid/Carbon
• HMPP/Carbon
• UHMWPE/Carbon
• Others

By Resin Type:

• Thermoset
• Thermoplastic

By End-Use Industry Type:

• Automotive & Transportation
• Marine
• Aerospace & Defense
• Wind Energy
• Sporting Goods
• Others

By Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Key Players

Some of the major players in the hybrid composites market are-

• Aerodyn Energiesysteme GmbH
• Colan Australia
• Composites Evolution
• C. Cramer
• Weberei
• GmbH & Co. Kg
• Devold Amt
• Exel Composites PLC
• G. Angeloni S.R.L.
• Innegra Technologies, LLC
• Hexcel Corporation
• Teijin Limited 

Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conduct more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the fiber types by end-use industry type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.