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Top 4 Trends Outlining Hybrid Fabrics Market Outlook | Key Players are Gurit, Hexcel Corporation and Exel Composites Plc

04-30-2021 07:43 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: global market insights

Hybrid Fabrics Market

Hybrid Fabrics Market

Reports estimate that the global hybrid fabrics market could cross USD 400 million in terms of annual valuation through 2025. Hybrid fabrics are widely used in the fabrication of rotor blades for wind turbines, leading to improved efficiency and reduced weight. Along with wind blades, hybrid fabrics are also used to make spar caps for wind turbines. This will supplement the demand for fabrics, worldwide.

The increasing demand for electricity and the restrictions imposed by respective governments to use sustainable sources have driven the need for renewable sources of energy. As per a report by the International Renewable Energy Agency, the global installed capacity of wind energy stood at 743 GW in the year 2020.

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High demand for carbon/glass hybrid fabrics
Carbon/glass hybrid fabrics are widely being used in rail and automobile sector as a substitute to steel. They help reduce the overall weight of the vehicles without increasing their cost and reducing the carbon emission levels.

These hybrid fabrics are used in the production of different interior and exterior automobile parts like leaf springs, chassis, battery casings, and others. The improvement in disposable income among people along with the consequent demand for automotive will fuel the demand for carb/glass hybrid fabrics, which accounted for the highest market share in the year 2018.

Increasing defense budget in the U.S.

Regionally speaking, the U.S. has emerged as a profitable revenue pocket for hybrid fabric makers due to its high spending on defense equipment. It is also home to some of the major aerospace and defense contractors like Boeing, Lockheed Martin, and Raytheon. Favorable measures taken by the US government to strengthen its defense offerings will support the demand for hybrid fabrics.

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Key aerospace and defense applications

With respect to the application spectrum, hybrid fabrics find extensive use in aerospace and defense industry. These are used to make various defense and aircraft parts like insulation panels, radomes, aircraft seats, fairings, wings, and others.

As per the Stock International Research Institute, the global military expenditure reached USD 1,917 billion in the year 2019. Similar trends in the near future indicate a robust demand for hybrid fabrics across aerospace and defense applications.

COVID-19 impact and other challenges

The coronavirus pandemic has affected the production of hybrid fabrics due to the government restrictions on the movement of people and raw materials in order to control the spread of the lethal coronavirus. This has restricted the domestic and international shipment of materials.

Additionally, the cost of producing hybrid fabrics is high due to the use of complex weaving technology and carbon as its raw materials which increases the overall production cost.

Browse Complete Report Summary @ https://www.gminsights.com/industry-analysis/hybrid-fabrics-market

Despite plenty of challenges amid the COVID-19 pandemic, the global hybrid fabric market will regain traction in the near future with gradual relaxation of government restrictions.

In order to reduce costs and expand their product portfolio, hybrid fabric companies such as Hexcel Corporation and Solvay are investing in R&D and entering into strategic alliances, partnerships. and mergers.

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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
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Email: sales@gminsights.com

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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