Research Nester published a report titled “Hybrid Composites Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global hybrid composites market in terms of market segmentation by fiber type, end-use industry, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global hybrid composites market is estimated to occupy a large amount of revenue by growing at a CAGR of ~22% during the forecast period, i.e., 2022 – 2031, ascribing to the rising usage of the product in construction, aerospace & defense, and automotive & transportation industries worldwide. Along with this, excellent strength & stiffness and fatigue resistance of these composites, and escalating rates of industrialization and urbanization, especially in emerging economies, are also expected to drive the growth of the market in the upcoming years.
The market is segmented by fiber type and end-use industry. Based on fiber type, the carbon/glass segment is anticipated to acquire the largest share during the forecast period on the back of the superior corrosion resistance, high strength and light weight of this type of fiber. Additionally, by end-use industry, the automotive & transportation segment is projected to grab the largest share over the forecast period attributing to the increasing use of hybrid composites in this industry as they provide excellent performance and luxury at economical pricing.
Geographically, the global hybrid composites market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. Asia Pacific is evaluated to witness noteworthy growth in the market during the forecast period attributing to the growing investments in residential and commercial construction activities in the region. Moreover, the market in Europe is assessed to acquire the largest share over the forecast period ascribing to the imposition of strict government regulations associated with volatile organic compounds (VOC) emissions in the region.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increasing Usage of Hybrid Composites in Various End User Industries Globally to Drive Market Growth
Hybrid composites are extensively being used across a wide range of industries, including aerospace & defense, construction, and automotive & transportation, as a result of their excellent fatigue and corrosion resistance, and high tensile strength. This in turn is anticipated to boost the demand for the product in the near future, which in turn is also predicted to accelerate the growth of the market.
However, high price of raw materials used to manufacture these composites is expected to operate as key restraint to the growth of the global hybrid composites market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global hybrid composites market which includes company profiling of Hexcel Corporation, PlastiComp, Inc., PolyOne Corporation, Royal DSM N.V., SGL Group, Gurit Services AG, Solvay SA, Innegra Technologies, LLC, STRUCTeam Ltd., Exel Composites Oyj, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global hybrid composites market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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