Press release
Hybrid Composites Market : Royal DSM (the Netherlands), SGL Group – The Carbon Company (Germany), Gurit (Switzerland), Hexcel Corporation (US), TEIJIN LIMITED (Japan), Exel Group World Wide (Finland)
Hybrid Composites Market Research Report - Forecast to 2023
Market Overview
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.
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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 global hybrid composites market is primarily driven by the increasing use of these composites in major industries such as aerospace & defense, building & construction, automotive & transportation, wind energy, marine, and others. This can be attributed to the specific advantages of hybrid composites over conventional composites such as high strength, stiffness, balanced bending, thermal distortion stability, improved fatigue resistance, and improved impact resistance. 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. Rapid industrialization and urbanization in the emerging economies of Asia-Pacific have resulted in increased construction, which is also fueling market growth. Moreover, the hybrid composites made from glass and Kevlar are used as a replacement for expensive fibers like graphite and boron. Furthermore, the recent technological advancements associated with the use of composite hybrid polymers in electronics is expected to bring in significant opportunities to the manufacturers in coming years.
However, high cost associated with the technology of hybrid composites is likely to hamper market growth during the forecast period.
Market players are focusing on strategic developments such as product launches and acquisitions. For instance, in January 2017, Teijin Limited acquired Continental Structural Plastics Holdings Corporation, a global leader in automotive lightweight composite technologies for USD 825 million to strengthen its global capacities. In another instance, in November 2016, Royal DSM launched Dyneema, a carbon hybrid composite, which has lightweight, impact resistance, ductility and vibrational dampening.
Global Hybrid Composites Market, by End-Use Industry (%)
Hybrid Composites Market Research Report - Forecast to 2023 -Report image 00
Source: MRFR Analysis
Regional Analysis
The global hybrid composites market has been segmented into 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 2017 due to the high demand in major end-use industries such as automotive and construction. Fast-paced industrialization in emerging economies such as China and India are expected to fuel product demand in the construction industry.
North America accounted for the second-largest market share in 2017 on account of the high demand for hybrid composites in the aerospace, automotive, and construction industries in the region.
The European market is expected to grow at a significant rate due to the high production and sales of automotive parts in the region.
The Latin American market is projected to witness considerable growth due to the growing automotive industries in Brazil and Argentina.
The market in the Middle East & Africa is also likely to grow due to the presence of infrastructure hubs in the region.
Segmentation
The global hybrid composites market has been segmented on the basis of fiber type, resin type, end-use industry, and region.
On the basis of fiber type, the market has been segmented into carbon/glass, carbon/aramid, metal/plastic, wood/plastic, HMPP/carbon, UHMWPE/carbon, and others.
Based on the resin type, the market has been categorized into thermoplastic and thermosetting.
By end-use industry, the market has been divided into aerospace & defense, building & construction, automotive & transportation, wind energy, marine, and others.
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Key Players
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).
Intended Audience
Hybrid composites manufacturers
Traders and distributors of Hybrid COMPOSITES
Research and development institutes
Potential investors
Raw material suppliers
Nationalized laboratories
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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