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Pulished Date April, 2021
ID: 8113
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Hybrid Composites Market - By Fibre Type, By Resin (Thermoset And Thermoplastic), By End-Use Industry (Automotive & Transportation, Aerospace & Defense, Wind Energy, Marine, Sporting Goods) & By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Analysis, Size, Share, Growth, Trends, Forecast | 2021 - 2026

Pulished: April, 2021
ID: 8113
Pages: 175

Hybrid Composites Market value Size, Share & Growth (2021 - 2026)

The size and share of the global Hybrid Composites Market were $506.62 million in 2021. It is expected to be around $882.34 million in 2026 with a current CAGR of 17.45%.

Recent Developments

  • Recently a study was done on the impact response of Pennisetum purpureum/glass-reinforced epoxy (PGRE) hybrid composites when exposed to moisture & high temperatures. IMATEK IM10 drop weight impact tester was used to study the impact response of hybrid composites. The composites were subjected to humidity for several hours & at various temperatures. The results showed that untreated PGRE composites yielded the maximum peak loads impact responses at different energy levels. An increase in temperature reduced the stiffness of composites substantially. The increasing absorbed energy resulted in peak deflection causing severe damage to the composite. 

  • A study was conducted to analyze the mechanical & physical properties of sisal & hybrid sisal fiber-reinforced polymer composites. Some natural fibers such as sisal, banana, jute, kenaf, & oil palm are available in abundance & are found to possess superior mechanical properties. Due to high tensile strength modulus & impact strength sisal is one of the most promising fiber reinforcement for polymer composites. Sisal based thermoset & thermoplastic composites are found to be very useful in various industries such as automobile, marine & aircraft structures. 

  • Recently research was conducted on design optimization & energy absorption mechanics of CFRP/ Aluminium hybrid structures when loaded transversally. It was found that the energy absorption of the hybrid tube was affected mainly by ply thickness whereas there was a marginal effect due to the ply angle. The hybrid resulted in a 42.96% increase in specific energy absorption (SEA) & the mean crushing force was improved by 37.75%. 

Drivers and Restraints of the Global Hybrid Composites Market

The stringent policies regarding environment has made it difficult for plastics and opened doors for the growth of composites market around the world. Ease of handling non-utilized plastic material is also a driving factor. PE-base composites are the highest contributor in adding to the overall growth of the worldwide hybrid composites industry.

The usage of composites in aerospace, wind energy turbines is also growing, and these options are often come cheap as compared to their counterparts that help in the growth of the industry. The demand for light-weight material is also increasing in different parts of the world that allows growth opportunities for hybrid composites market. Environment concerns have also raised the production of carbon-based composites.

Thermoset-resins exhibits immaculate strength and crack resistance. These resins are viable for use in automotive & transportation and marine applications that are some of the largest end-use industries demanding materials that possess high strength, lightweight, and improved performance. Thermoset resin account for the significant share of the global hybrid composite because of their uses in several end-use verticals. Therefore, it is evident that with the increasing end-user applications, the market for hybrid composites is supposed to skyrocket in the foreseen period.

Hybrid composites market is facing stiff competition across the planet. These competitors are proving to be a very feasible substitute for these composites and thus hinder the growth of the former. Rising energy prices is another barrier thwarting the expansion of this industry. This is because of the low melting property affiliated with the hybrid composites. The uneven distribution of linking agents is also considered as a drawback associated with the hybrid composites and brings down the growth opportunities.

Opportunities in the Hybrid Composites Market

Increased growth in industries such as automotive that have a high demand for Hybrid composites has presented the market a glowing opportunity to register high growth rates in the coming years. For instance, in the European region, the growth of aerospace and wind power sector has triggered high demand for lightweight material and thus provides a lot of opportunities for the hybrid composite manufacturers to come up with improved materials for these end use industries.

Challenges in the Hybrid Composites Market

Some of the hybrid composites are non-recyclable, as a result their usage gets very limited and many industries find it unsuitable for their needs. The government norms adhering to the usage of recyclable products makes it a challenge for the global hybrid composites market. On top of that, epoxy resins are used in many of these composites which in itself is costly and thus finding the cost-effective balance, which is acting as a serious threat to the development of this industry in the following years.

Hybrid Composites Market is segmented into the following categories as per the research report until 2026.

  • By Fibre Type

  • By Resin (Thermoset and Thermoplastic)

  • By End-Use Industry (Automotive & Transportation, Aerospace & Defense, Wind Energy, Marine, Sporting Goods)

  • By Region ( North America, Europe, Asia Pacific, Latin America, & Middle East & Africa)

Hybrid Composites Market - By Region 

  • Latin America

  • Asia Pacific

  • Europe

  • Middle East & Africa 

  • North America

Among the Asia Pacific is the fastest-growing market. Europe accounted for the largest market among all the regions as this region has many leading manufacturers & technological advancements. India, China, Japan are some of the fastest-growing countries in the Asia Pacific region. A shift of market has been noticed from North America & Europe towards the Asia Pacific region.  The Asia Pacific is growing at a high pace due to the availability of raw materials, cheap labor & area for industrial setup.

The European region is witnessing high advancements in the hybrid composites industry. Many of the automotive and aerospace component makers in this region are continuously involved in product developments and the advancement of hybrid composites goods in this region. The makers across the region are adopting different expansion game plan to boost their place in the industry. The Asia Pacific is the key area of the global hybrid composites market. The hybrid composites industry in the region is predicted to rise at a fast rate throughout the foreseen period owing to a common expansion in end-user markets that use hybrid composites in the locale. Nations like India, China, and South Korea are predicted to propel the call for hybrid composites in the region.

North America is also a major customer of hybrid composites in the world. Europe is also a major customer of hybrid composites. Latin America and Middle East & Africa offer high opportunities for the hybrid composites industry. The hybrid composites business in the Middle East & Africa is majorly driven by the expansion in the oil & gas industry and the downstream processing industry in the region. The Asia-Pacific region is presently witnessing high funds in residential and commercial construction, particularly in China, Japan, Taiwan, and South Korea and in advancing economies like India, Malaysia, Indonesia, and Vietnam. Europe is the significant profit causing region in the hybrid composites industry. Europe is home to some of the key automotive and aerospace & defense device makers that create calls for hybrid composites in the region.

The infrastructure industry in Asia-Pacific has been developing at a healthy rate in past times. Therefore, the region is predicted to experience a high expansion rate over the foreseen period in the Cement Board industry. The call for hybrid composites in North America is mainly driven by the expansion of the aerospace & defense, marine, and automotive markets. The U.S. is one of the major makers of commercial aircraft, large passenger aircraft, and defense aircraft that is predicted to drive the industry in the foreseen period. Europe is predicted to be the second-largest industry on account of well-built automotive, aerospace & defense, and wind energy markets. Furthermore, major makers of the automotive and aerospace markets in this region are stressing on product enhancements and the advancement of the latest hybrid composites.

Key Market Players Profiled  in the Hybrid Composites Market are:

Some of the key market players are Innegra Technologies, LLC (United States of America), Solvay (Belgium), Gurit (Switzerland), Hexcel Corporation (United States of America), Teijin Limited (Japan), General Electric (United States of America), Exel Composites (Finland), PlastiComp, Inc. (United States of America), Royal DSM N.V. (Netherlands), & SGL Group (Germany).

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Study Deliverables                  

                1.3 Base Currency, Base Year and Forecast Periods                           

                1.4 General Study Assumptions                

2. Research Methodology                                           

                2.1 Introduction                              

                2.2 Research Phases                      

                                2.2.1 Secondary Research            

                                2.2.2 Primary Research 

                                2.2.3 Econometric Modelling     

                                2.2.4 Expert Validation  

                2.3 Analysis Design                         

                2.4 Study Timeline                          

3. Overview                                      

                3.1 Executive Summary                

                3.2 Key Inferences                         

                3.3 Epidemology                             

4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)                                      

                4.1 Market Drivers                          

                4.2 Market Restraints                    

                4.3 Key Challenges                         

                4.4 Current Opportunities in the Market               

5. Market Segmentation                                              

                5.1 Fibre Type                  

                                5.1.1 Introduction           

                                5.1.2 Y-o-Y Growth Analysis, By Fibre Type           

                                5.1.3 Market Attractiveness Analysis, By Fibre Type         

                                5.1.4 Market Share Analysis, By Fibre Type          

                5.2 Resin                             

                                5.2.1 Introduction           

                                5.2.2 Thermoset              

                                5.2.3 Thermoplastic       

                                5.2.4 Y-o-Y Growth Analysis, By Resin     

                                5.2.5 Market Attractiveness Analysis, By Resin   

                                5.2.6 Market Share Analysis, By Resin    

                5.3 End-Use Industry                     

                                5.3.1 Introduction           

                                5.3.2 Automotive & Transportation         

                                5.3.3 Aerospace & Defense        

                                5.3.4 Wind Energy          

                                5.3.5 Marine     

                                5.3.6 Sporting Goods     

                                5.3.7 Y-o-Y Growth Analysis, By End-Use Industry             

                                5.3.8 Market Attractiveness Analysis, By End-Use Industry            

                                5.3.9  Market Share Analysis, By End-Use Industry            

6. Geographical Analysis                                              

                6.1 Introduction                              

                                6.1.1 Regional Trends    

                                6.1.2 Impact Analysis     

                                6.1.3 Y-o-Y Growth Analysis        

                                                6.1.3.1 By Geographical Area

                                                6.1.3.2 By Fibre Type

                                                6.1.3.3 By Resin

                                                6.1.3.4 By End-Use Industry

                                6.1.4  Market Attractiveness Analysis     

                                                6.1.4.1 By Geographical Area

                                                6.1.4.2 By Fibre Type

                                                6.1.4.3 By Resin

                                                6.1.4.4 By End-Use Industry

                                6.1.5  Market Share Analysis      

                                                6.1.5.1 By Geographical Area

                                                6.1.5.2 By Fibre Type

                                                6.1.5.3 By Resin

                                                6.1.5.4 By End-Use Industry

                6.2 North America                          

                                6.1.1 Introduction           

                                6.1.2 United States         

                                6.1.3 Canada     

                6.3 Europe                         

                                6.2.1 Introduction           

                                6.2.2 U.K             

                                6.2.3 Spain         

                                6.2.4 Germany 

                                6.2.5 Italy           

                                6.2.6 France      

                6.4 Asia-Pacific                 

                                6.3.1 Introduction           

                                6.3.2 China         

                                6.3.3 India          

                                6.3.4 Japan        

                                6.3.5 Australia  

                                6.3.6 South Korea           

                6.5 Latin America                            

                                6.4.1 Introduction           

                                6.4.2 Brazil         

                                6.4.3 Argentina

                                6.4.4 Mexico     

                                6.4.5 Rest of Latin America         

                6.6 Middle East & Africa               

                                6.5.1 Introduction           

                                6.5.2 Middle-East            

                                6.5.3 Africa        

7. Strategic Analysis                                       

                7.1 PESTLE analysis                         

                                7.1.1 Political     

                                7.1.2 Economic 

                                7.1.3 Social         

                                7.1.4 Technological         

                                7.1.5 Legal          

                                7.1.6 Environmental      

                7.2 Porter’s Five analysis                              

                                7.2.1 Bargaining Power of Suppliers        

                                7.2.2 Bargaining Power of Consumers    

                                7.2.3 Threat of New Entrants     

                                7.2.4 Threat of Substitute Products and Services

                                7.2.5 Competitive Rivalry within the Industry      

8. Market Leaders' Analysis                                        

                8.1 Innegra Technologies, LLC                    

                                8.1.1 Overview

                                8.1.2 Product Analysis   

                                8.1.3 Financial analysis  

                                8.1.4 Recent Developments       

                                8.1.5 SWOT analysis       

                                8.1.6 Analyst View          

                8.2 Solvay                           

                8.3 Gurit                             

                8.4 Hexcel Corporation                 

                8.5 Teijin Limited                             

                8.6 General Electric                        

                8.7 Exel Composites                       

                8.8 PlastiComp, Inc.                        

                8.9 Royal DSM N.V.                        

                8.10 SGL Group                

9. Competitive Landscape                                           

                9.1 Market share analysis                            

                9.2 Merger and Acquisition Analysis                        

                9.3 Agreements, collaborations and Joint Ventures                          

                9.4 New Product Launches                          

10. Market Outlook and Investment Opportunities                                    

Appendix                                           

                a) List of Tables                

                b) List of Figures                              

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped

  • The segment-level analysis in terms of By Diagnostic Wearable Devices, and Therapeutic Wearable Devices along with market size forecasts and estimations to detect key areas of industry growth in detail

  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics

  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis

  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development

  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment

  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies

  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions

  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

  1. Global Hybrid Composites Market  Market By Region, From 2021-2026( USD Million )

  2. Global Hybrid Composites Market  Market By Fibre Type, From 2021-2026( USD Million )

  3. Global Hybrid Composites Market  Market By Resin , From 2021-2026( USD Million )

  4. Global Thermoset  Market By Region, From 2021-2026( USD Million )

  5. Global Thermoplastic Market By Region, From 2021-2026( USD Million )

  6. Global Hybrid Composites Market  Market By End-Use Industry, From 2021-2026( USD Million )

  7. Global Automotive & Transportation Market By Region, From 2021-2026( USD Million )

  8. Global Aerospace & Defense Market By Region, From 2021-2026( USD Million )

  9. Global Wind Energy Market By Region, From 2021-2026( USD Million )

  10. Global Marine Market By Region, From 2021-2026( USD Million )

  11. Global Sporting Goods Market By Region, From 2021-2026( USD Million )

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