The global hybrid composites market size will grow by USD 1.48 billion during 2019-2023. This market report provides a detailed analysis of the market by resin type (thermoset hybrid composites and thermoplastic hybrid composites) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Hexcel Corp., LANXESS AG, Mitsubishi Chemical Corp., SGL Carbon SE, and Toray Industries Inc.
Some of the key findings from our hybrid composites market forecast report are summarized below
See the complete table of contents and list of exhibits, as well as selected illustrations and example pages from this report.
Global Hybrid Composites Industry Overview
The use of fiber hybrid composites in the wind power industry will be one of the critical hybrid composites market trends. Hybrid composites are widely used in manufacturing nacelle and blades in the wind energy sector. Aerofoil made from glass fiber composites helps in reducing the weight and tip deflection of the turbine blades. Carbon fiber composites are also being used to optimize the aerodynamic performance of the blades.
Moreover, the wind power industry is increasingly focusing on manufacturing larger rotors and blades for offshore applications and increasing the turbine’s capacity factor by installing turbines higher in the atmosphere. These technologies require better designs and materials, such as composite fibers that can withstand stresses of greater height and higher wind velocities. With the increasing dependence on renewable sources, such as wind for energy generation, the demand for hybrid composites will also grow during the forthcoming years.
The growth of pultrusion in the automotive industry will also be a significant factor contributing to the growth of the hybrid composites market. The automotive industry is increasingly adopting pultrusion method to manufacture fiber-reinforced polymer composites. These composites are widely used in the automotive industry to manufacture roof beams, door intrusion beams, bumper beams, front-end support systems, chassis rails, and transmission tunnels. Continuous composite systems (CCS) pultrusion and radius pultrusion processes are also gaining popularity in the automotive industry. Technological advancements, digitalization, and economic growth are driving the growth of the automotive industry. This will result in the increasing demand for pultrusion products in the automotive industry and consequently fuel the growth of the hybrid composites market at a CAGR of almost 15% during the forecast period.
Top Hybrid Composites Companies Covered in this Market Research Report
The global hybrid composites market is concentrated. To help clients improve their market position, this report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this hybrid composites market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
The report offers a detailed analysis of several leading hybrid composites manufacturers, including:
- Hexcel Corp.
- LANXESS AG
- Mitsubishi Chemical Corp.
- SGL Carbon SE
- Toray Industries Inc.
Hybrid Composites Market Segmentation Based on Resin Type
- Thermoset hybrid composites
- Thermoplastic hybrid composites
The thermoset hybrid composites segment will account for the highest hybrid composites market share. The rising demand for wind turbines in energy generation will be one of the significant factors contributing to the growth of the hybrid composites market in this segment. This market research report provides an accurate prediction of the contribution of all the segments to the growth of the hybrid composites market size.
Hybrid Composites Market Segmentation Based on Geographic Region
- APAC
- Europe
- MEA
- North America
- South America
With a complete study of the growth opportunities for companies, it has been identified that APAC will account for the highest share of the hybrid composites market throughout the forecast period. Innovative, cost-effective, and technical approaches in the construction sector are expected to fuel hybrid composites market growth in this region.
Key Highlights of the Global Hybrid Composites Market for the Forecast Period 2019-2023
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the hybrid composites market during the next five years
- Precise estimation of the global hybrid composites market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the hybrid composites industry across APAC, Europe, MEA, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details of factors that will challenge the growth of hybrid composites companies
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