Hybrid Composites Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
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A07007
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Sep 2020 |
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Hybrid composites are composite materials crafted from a mixture of two or more forms of reinforcing fibers. These composites exhibit high impact resistance and strength in comparison to different traditional composites. Hybrid composites are utilized in applications where a mixture of properties offered through distinct reinforcing fibers is needed. The strength of the hybrid composite is likewise dependent on the failure strain of individual fibers. Hybrid composites offer wider opportunities to control material stiffness, strength, and price. Moreover, they are low price and are lightweight. Hybrid composites are highly appropriate for utilization in automobile & transportation and aerospace end-use industries, which require lightweight materials with high strength and flammability performance. Building & construction and wind power are predicted to be the rapidly developing segments of the worldwide hybrid composites market.
Market scope and structure analysis
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Report Metric |
Details |
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Market size available for years |
2019–2027 |
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Base year considered |
2019 |
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Forecast period |
2020–2027 |
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Forecast unit |
Million (USD) |
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Segments covered |
Fiber Type, Resin, Application, and Region |
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Regions covered |
North America (U.S., Canada, Mexico) Europe (Germany, France, Italy, Spain, UK, and Rest of Europe) Asia-Pacific (China, India, Japan, South Korea, Australia, and Rest of Asia-Pacific) Latin America (Brazil, Argentina, and Rest of Latin America) Middle East & Africa (Saudi Arabia, South Africa, and rest of Middle East & Africa) |
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Companies covered |
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Segmentation by fiber type
- Carbon-Glass
- Carbon-Aramid
- Metal-Plastic
- Wood-Plastic
- Others
Segmentation by resin
- Thermoset Hybrid Composite
- Thermoplastic Hybrid Composite
Segmentation by application:
- Automotive & Transportation
- Building & Construction
- Aerospace
- Wind Energy
- Marine
- Others
COVID-19 scenario analysis
The outbreak of the coronavirus has forced the government to restrict movement and implementation of lockdown, which result in shutdown of various industries. Industries such as automobiles and aerospace are adversely affected by the virus outbreak. The government has imposed stay home policy, which has led to lack of man power in industries. Moreover, travel restrictions to prevent the spread of virus has further reduced the demand for the automobiles and aerospace industries. These factors are responsible for decline in demand for the hybrid composite market in the upcoming one/two years.
Market scenario analysis
Surge in demand for lightweight materials within the automotive industry is a key aspect projected to drive the growth of the hybrid composites market. The properties exhibited by hybrid composites in contrast to traditional composites is a primary driving force of the global market. The wind energy sector is one among the largest users of hybrid composite materials. Composites are generally utilized in manufacturing nacelle and blades, which improve the efficiency of turbines. This will further enhance the demand for the hybrid composites. Increase in importance of lightweight railway components is predicted to enhance the demand for hybrid composites within the transportation industry during the forecast period. Furthermore, the expansion of the construction& production industry in developing countries due to rapid urbanization and industrialization is predicted to reinforce the growth of the hybrid composites market. However, high production and high technology costs of hybrid composites are anticipated hamper the growth of the target market.
Market trends
Hybrid carbon fiber/glass fiber material is a lightweight and high-strength substitute for classic fiberglass and metallic applications within the automobile & transportation, building & construction, and other business markets. Components made out of these hybrid composites provide a high strength to weight ratio and are devoid of corrosion. They have prolonged service life requiring less maintenance. Their high specific properties meet the needs of applications that require significance on protection and strength.
Regional insights
Region wise, the global hybrid composites market is analyzed across North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. Asia-Pacific dominates the global hybrid composites market. This is attributed to rise in demand for passenger vehicles coupled with purchasing power & changing life style in Asia-Pacific. However, Europe is predicted to grow significantly in the hybrid composites market. This is attributed to the fact that Europe is home to a number of the key automobile and aerospace & defense equipment manufacturers, which create demand for hybrid composites within the region.
Key benefits of the report
- This study presents the analytical depiction of the global hybrid composite industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global hybrid composite market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global hybrid composite market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the global hybrid composite market research report:
- Which are the leading players active in the global hybrid composite market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:
- Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
- Technologically sophisticated and reliable insights through well audited and veracious research methodology
- Sovereign research proceeds that present a tangible depiction of marketplace
With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.
Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, web-casts and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast
Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develops analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth and forecasts
Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:
- Chief executives and VPs of leading corporations specific to industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)
Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
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