MRFR Press Release/- Market Research Future published a half-cooked research report on Hybrid Composites Market

Market Overview:

According to industry insights, the global hybrid composites market is projected to grow at a robust CAGR of 13.80% from 2022 to 2030, reaching a market size of approximately USD 1793.50 million by the end of the forecast period. 

By fiber type, the global hybrid composites market has been segmented into carbon/glass, carbon/aramid, metal/plastic, wood/plastic, HMPP/carbon, UHMWPE/carbon, and others. Although carbon-aramid reinforced epoxy offers high strength and impact resistance, the glass-carbon reinforced epoxy is leading the market owing to its low cost and is extensively used in high-end vehicles.

On the basis of the resin type, the market is segmented into thermoplastic and thermosetting. The thermoplastic resin type was dominating the market in 2022 on account of its ease of recyclability, low curing time, high strength, and increased rigidity.

Based on end-use industry, the market has been segmented into aerospace & defense, building & construction, automotive & transportation, wind energy, marine, and others. Rapid industrialization and the increasing commercial and residential building and construction activities across the globe is expected to increase the demand for hybrid composites during the forecast period. Furthermore, the demand for lightweight automobile and aircraft dur to pertaining regulations for environment protection is driving the market.

Hybrid Composites Market Regional Analysis

The hybrid composites market has been analyzed with respect to five regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.

The market in Asia-Pacific dominated the global hybrid composites market in 2022 on account of the high demand from major end-use industries such as automotive and construction in the region.

The North American market is expected to witness significant growth due to the demand from the aerospace, construction, and automotive industries.

The market in Europe is expected to drive product demand due to the high production and trading of automotive parts in countries such as Germany, UK, France, and Italy.

Competitive Analysis

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

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