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Global Hybrid Composites Market Share, Size, Analysis, Opportunities, Forecast: By Fibre Type: Carbon/Glass and Glass/Carbon, Aramid/ Carbon, HMPP/Carbon, UHMWPE/Carbon, Others; By Resin Type: Thermoset, Thermoplastic; By End-Use: Automotive, Aerospace and Defence, Others; Regional Analysis; Competitive Landscape; 2023-2028
Global Hybrid Composites Market Outlook
The global hybrid composites market size reached a value of nearly USD 800.46 million in 2022. The market is projected to grow at a CAGR of 12.90% between 2023 and 2028, reaching a value of around USD 1651.82 million by 2028.
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Global Hybrid Composites Market Trends
Hybrid composites refer to composites which are a combination of two or more types of fibres that are embedded in a singular polymer matrix. These composites are used in multiple engineering applications owing to various benefits such as lightweight, high strength, strength-to-weight ratio, ease of structure development, and low cost.
- The rising demand for hybrid composites in diverse end-use sectors including wind energy, aerospace and military, and automotive and transportation, owing to their stiffness and high strength is augmenting the market.
- In the production of automotive and aviation parts, hybrid composite goods have become crucial owing to their lightweight and cost-effectiveness. Manufacturers are increasingly using these materials in place of metal parts due to the rising concerns about fuel usage and carbon emission levels, thereby favouring the hybrid composites market growth.
- In comparison to traditional processing methods, hybrid composites provide better mechanical qualities, potential cost savings, and general adaptability. Moreover, hybrid composites made from advanced technologies are lighter, corrosion-resistant, rigid, and have a higher specific strength, due to which their use in challenging environments in the aerospace and defence sectors is growing.
Opportunities and Challenges in the Market
Owing to their high strength, cost-effectiveness, high performance, and low weight, the demand for fibre and glass composites is rapidly increasing in diverse end-use sectors, including automotive and defence, among others.
However, high manufacturing and technical costs of hybrid composites can impact their demand. Besides, composite fibres have poor fire resistance and high moisture absorption properties, which weakens the link between the matrix and the fibre and reduces their longevity.
Global Hybrid Composites Market Analysis
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Based on fibre type, the market can be segmented into carbon/glass and glass/carbon, aramid/carbon, HMPP/carbon, and UHMWPE/carbon, among others. By resin type, it can be bifurcated into thermoset and thermoplastic. Based on end-use, the market can be categorised into automotive, aerospace and defence, wind energy, sporting goods, and marine, among others. The regional markets for hybrid composites can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global hybrid composites market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
- Royal DSM N.V.
- SGL Carbon SE
- Gurit
- Teijin Limited
- Exel Composites
- Innegra™ Technologies
- Avient Corporation
- Quantum Composites
- Others
Rising Use of Carbon/Glass and Glass/Carbon Composites Driving the Market
The usage of carbon/glass hybrid composites is expected to increase in the automotive, aerospace, and marine sector. With the increasing requirement for lightweight materials to make wind turbine blades and automobiles more aerodynamic, the demand for carbon/glass hybrid composites is likely to grow in the forecast period.
Meanwhile, there is a growing utilisation of high modulus polypropylene (HMPP) fibres in the textile sector owing to their toughness, ballistic resistant, high dielectric constant, increased durability, and cost-effectiveness.
Hybrid Composites Market by Resin Type
The thermoset market segment is expected to account for a significant share in the market due to its exceptional strength and fracture resistance properties.
Due to the cross-linking, these products are stronger and suitable for use in high-temperature applications. The demand for such products is exceptionally high for various applications in the aerospace and military sectors, and the developing economies in regions like the Asia Pacific are expected to positively influence the market demand in the coming years.
Market Share by Region
The Asia Pacific is expected to expand at a rapid rate during the forecast period owing to the expansion of the manufacturing sector and strong growth in automobile production. Due to the significant presence of skilled professionals and cheap labours in countries like China and India, the region is one of the most attractive locations for the aerospace, electronics, and construction businesses, which is likely to bolster the demand for hybrid composites.
Various established sectors such as automotive, aerospace and military, maritime, and wind energy, among others, in Europe is anticipated to propel the demand for hybrid composites. In addition, major producers in the region's automotive and aerospace sectors are concentrating on product advancements and the creation of fresh hybrid composites, which is likely to favour the market in the coming years.
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Hybrid Composites Market Competitive Landscape
Teijin Limited is a Japanese technology driven firm that offers products and solutions for the chemical, pharmaceutical, and IT sectors. Some of the products offered by the company includes high-performance fibres including carbon fibres and composites, aramid, healthcare, films, resin and plastic processing, polyester fibres, goods converting, and IT products.
Gurit is one of the major suppliers of advanced composite materials for wind energy, marine, and many other industries around the world. The company was founded in 1835 and has developed expertise in the practical application of composites across different market sectors. The company’s speciality lies in carbon fibre prepregs, structural core materials, composite materials, adhesives, wind energy, and fibre prepregs, among many other fields.
SGL Carbon SE is a global innovator in the design and production of carbon-based products. The company was established in 1992 and currently, its headquarter is located in Wiesbaden, Germany.
The company provides and manufactures various materials and products made from speciality graphite, carbon fibres, and composite materials. These materials and products are utilised in various sectors including automotive, semiconductor technology, LED, solar and wind energy, and lithium-ion battery, among others.
Other market players include Royal DSM N.V., Exel Composites, Innegra™ Technologies, Avient Corporation, and Quantum Composites, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Fibre Type |
|
| Breakup by Resin Type |
|
| Breakup by End-Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Hybrid Composites Market Analysis
8.1 Key Industry Highlights
8.2 Global Hybrid Composites Historical Market (2018-2022)
8.3 Global Hybrid Composites Market Forecast (2023-2028)
8.4 Global Hybrid Composites Market by Fibre Type
8.4.1 Carbon/Glass and Glass/Carbon
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Aramid/ Carbon
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 HMPP/Carbon
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 UHMWPE/Carbon
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2022)
8.4.4.3 Forecast Trend (2023-2028)
8.4.5 Others
8.5 Global Hybrid Composites Market by Resin Type
8.5.1 Thermoset
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Thermoplastic
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.6 Global Hybrid Composites Market by End-Use
8.6.1 Automotive
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Aerospace and Defence
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Wind Energy
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Sporting Goods
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2022)
8.6.4.3 Forecast Trend (2023-2028)
8.6.5 Marine
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2018-2022)
8.6.5.3 Forecast Trend (2023-2028)
8.6.6 Others
8.7 Global Hybrid Composites Market by Region
8.7.1 North America
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Europe
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.3 Asia Pacific
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2022)
8.7.3.3 Forecast Trend (2023-2028)
8.7.4 Latin America
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2022)
8.7.4.3 Forecast Trend (2023-2028)
8.7.5 Middle East and Africa
8.7.5.1 Market Share
8.7.5.2 Historical Trend (2018-2022)
8.7.5.3 Forecast Trend (2023-2028)
9 North America Hybrid Composites Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Hybrid Composites Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Hybrid Composites Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Hybrid Composites Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Hybrid Composites Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Royal DSM N.V.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 SGL Carbon SE
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Gurit
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Teijin Limited
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Exel Composites
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Innegra™ Technologies
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Avient Corporation
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Quantum Composites
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Hybrid Composites Market: Key Industry Highlights, 2018 and 2028
2. Global Hybrid Composites Historical Market: Breakup by Fibre Type (USD Million), 2018-2022
3. Global Hybrid Composites Market Forecast: Breakup by Fibre Type (USD Million), 2023-2028
4. Global Hybrid Composites Historical Market: Breakup by Resin Type (USD Million), 2018-2022
5. Global Hybrid Composites Market Forecast: Breakup by Resin Type (USD Million), 2023-2028
6. Global Hybrid Composites Historical Market: Breakup by End-Use (USD Million), 2018-2022
7. Global Hybrid Composites Market Forecast: Breakup by End-Use (USD Million), 2023-2028
8. Global Hybrid Composites Historical Market: Breakup by Region (USD Million), 2018-2022
9. Global Hybrid Composites Market Forecast: Breakup by Region (USD Million), 2023-2028
10. North America Hybrid Composites Historical Market: Breakup by Country (USD Million), 2018-2022
11. North America Hybrid Composites Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Europe Hybrid Composites Historical Market: Breakup by Country (USD Million), 2018-2022
13. Europe Hybrid Composites Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Asia Pacific Hybrid Composites Historical Market: Breakup by Country (USD Million), 2018-2022
15. Asia Pacific Hybrid Composites Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Latin America Hybrid Composites Historical Market: Breakup by Country (USD Million), 2018-2022
17. Latin America Hybrid Composites Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Middle East and Africa Hybrid Composites Historical Market: Breakup by Country (USD Million), 2018-2022
19. Middle East and Africa Hybrid Composites Market Forecast: Breakup by Country (USD Million), 2023-2028
20. Global Hybrid Composites Market Structure
Key Questions Answered in the Report
In 2022, the global market for hybrid composites reached a size of nearly USD 800.46 million.
The market is projected to grow at a CAGR of 12.90% between 2023 and 2028.
The market is estimated to reach a value of around USD 1651.82 million by 2028.
The market is being driven by the growing demand for hybrid composites in the automotive and aviation sectors and the increasing manufacturing of lightweight vehicle with improved durability.
The growing utilisation of hybrid composites in place of traditional materials to reduce the weight of products is anticipated to be a key trend driving the market development.
The regional markets include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The major fibre types considered in the market report include carbon/glass and glass/carbon, aramid/carbon, HMPP/carbon, and UHMWPE/carbon, among others.
The various resin types considered in the market report include thermoset and thermoplastic.
The significant applications of hybrid composites include automotive, aerospace and defence, wind energy, sporting goods, and marine, among others.
The key players in the market include Royal DSM N.V., SGL Carbon SE, Gurit, Teijin Limited, Exel Composites, Innegra™ Technologies, Avient Corporation, and Quantum Composites, among others.
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