Hybrid Composites Market Size, Competitive Landscape and Market Forecast - 2029
The hybrid Composites Market is segmented By Resin (Thermoplastic Hybrid Composite, Thermoset Hybrid Composite), By Fiber Type (Carbon/Glass, Wood/Plastic, Carbon/Aramid, Metal/Plastic, Others (UHMWPE/Carbon, HMPP/Carbon)), By End-User Industry (Automotive & Transportation, Marine, Aerospace & Defense, Wind Energy, Sporting Goods, Others (Dental)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029.
Hybrid Composites Market Share, Size, Demand Insights
150 Pages report analyses the hybrid composites market shares, size, recent trends, future market outlook, and competitive intelligence. Hybrid composites usage in a combination of properties of different types of fibers wants to be achieved is on the rise. Demand from aerospace, and automotive ‘The Asia Pacific’ is spiking. The competitive rivalry intensifies with Quantum Composites, Innegra Technologies, and others active in the market.
Hybrid composites provide the strength, wear resistance, and radiopacity necessary for anterior and posterior use. They are composites that have a mixture of two or more reinforcement fibers. The most common hybrid composites are carbon-aramid reinforced epoxy which combines strength and impact resistance and glass-carbon-reinforced epoxy. Hybrid composites are usually used when a combination of properties of different types of fibers wants to be achieved, or when longitudinal as well as lateral mechanical performances are required. Based on the resin, the hybrid composites market is divided into thermoplastic hybrid composite and thermoset hybrid composite. Based on fiber type, the market is classified into carbon/glass, wood/plastic, carbon/aramid, metal/plastic, and others.
Hybrid Composites Market Scope and Summary
Metrics |
Details |
Market CAGR |
13.50% |
Segments Covered |
By Resin, By Fiber Type, By End-User Industry, and By Region |
Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other vital insights. |
Fastest Growing Region |
Asia Pacific |
Largest Market Share |
North America |
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Hybrid Composites Market Dynamics and Trends
The increasing adoption rate of hybrid composites in various applications and rising demand from emerging and evolving markets are the key driving factors for the growth of the market. The usage of hybrid composites is increasing in various applications like aerospace, automotive, transportation, marine, dental, etc., The benefits of a hybrid composite consist of great bond strength, packability, radiopacity, condensed polymerization shrinkage, the esthetics of ceramic in a composite, exceptional polishability, and non-sticky consistency for easy sculpting. Hybrid composites are light-cured and with an average curing time of 30 seconds, hybrid composites are a popular choice among dentists. For instance, Bisco dental has introduced a few products like Aelite Aesthetic Enamel Dental Hybrid Composite, Aelite LS Posterior Dental Hybrid Composite, AeliteFlo LV Radiopaque Low Viscosity Composite, and many more.
However, the huge technology cost required for the manufacturing of hybrid composites is a major restraint hindering market growth.
Hybrid Composites Market Segmentation and Shares Analysis
By end-use industry, the hybrid composites market is segmented into automotive & transportation, marine, aerospace & defense, wind energy, sporting goods, and others. Others include dental. The global hybrid composites market size by the end-use industry was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. The marine segment is one of the leading end-user industries in the usage of hybrid composites owing to its characteristics of strengthening materials and high performance. Companies are increasingly launching hybrid composites for marine industries. For instance, Fothergill Composites Inc., Bennington, has designed a safe and secured cell cockpit from carbon and aramid fibers with an aramid honeycomb core to save the driver in all situations, during high-speed crashes especially. Racing powerboats are now gradually increasingly made of advanced and hybrid composites for high-performance craft and safety.
Based on the resin, the hybrid composites market is divided into thermoplastic hybrid composite and thermoset hybrid composite. The global hybrid composites market size by resin was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period.
Based on fiber type, the market is classified into carbon/glass, wood/plastic, carbon/aramid, metal/plastic, and others. Others are again classified into UHMWPE/carbon and HMPP/carbon. The global hybrid composites market size by resin was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period.
Hybrid Composites Market Geographical Analysis
The Asia Pacific hybrid composites market size was worth USD million in 2018 and is estimated to reach USD million by 2026, at a prominent CAGR during the forecast period. Asia Pacific is expected to grow with a high CAGR rate in the forecast period owing to the increase in the usage of hybrid composites in end-user industries. Asia Pacific economies India, South Korea, Japan, and China are likely to boost the demand for the hybrid composites market. The automobile industry utilizes composites and hybrid composites in many interior and exterior applications. Companies in the Asia Pacific are expanding their business operations. For instance, in May 2019, Hankuk Carbon, a company considered one of the pioneers in Korean composite material manufacturing, opened the doors of its first European office at MIRA Technology Park, a UK-based Enterprise Zone.
Hybrid Composites Companies and Competitive Landscape
The Hybrid Composites market is competitive with existing players in the market. Some of the major players include Quantum Composites, Innegra Technologies, LLC, Exel Group World Wide, General Electric, PlastiComp, Inc., Solvay SA, Hexcel Corporation, Teijin Limited, Gurit, and Royal DSM.
The key players are adopting various key strategies such as product launches, collaborations, mergers & acquisitions which are contributing to the growth of the Hybrid Composites Market.
- In May 2019, Hankuk Carbon, a company considered one of the pioneers in Korean composite material manufacturing, opened the doors of its first European office at MIRA Technology Park, a UK-based Enterprise Zone.
- In May 2018, Exel Composites a Finland-based company acquired a US company Diversified Structural Composites. The acquisition has helped Exel Composites strengthen its business in North America.
- In December 2017, The Belgium-based startup company REIN4CED developed a new so-called ‘Hybrid’ composite material for bike frames and devised a fully automated production process.
- In October 2017, Belgium-based company Solvay developed a new hybrid composite material. The composite is made using a blending of fibers glass and carbon.
Frequently Asked Questions
1. Who are the key players in the hybrid composites market?
A. Some key players operating in the hybrid composites market include Teijin Limited, DSM N.V., Hexcel Corporation, Exel Composites, and Solvay.
2. What is the growth rate of the Hybrid Composites Market?
A. The Hybrid Composites Market is to grow at a CAGR of 13.50 % during the forecast period of 2022 to 2029.
3. What would drive the Asia Pacific hybrid composites market ahead?
A. Industrialization and urbanization would trigger growth for the market.