Global Hybrid Composites Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Hybrid Composites Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by Trusted Business Insights. The global hybrid composites market report has been segmented on the basis of fiber type, resin, application, and region.

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Global Hybrid Composites Market: Introduction 

Hybrid composites are materials manufactured from a combination of two or more types of reinforcing fibers. Carbon-aramid and glass-carbon are commonly used hybrid composites for various applications. These composites possess high impact resistance and strength as compared to other traditional composites.

Global Hybrid Composites Market: Dynamics 

Rising demand for lightweight materials in the automotive industry is a key factor projected to drive the growth of the potential market. Growing building & construction industry in developing countries of the Asia Pacific and other region owing to rapid urbanization and industrialization is anticipated to augment the growth of the target market over the next few years. In addition, the growing aerospace industry in developing economies is estimated to support the growth of the market.

However, high manufacturing and high technology cost of hybrid composites are some factors anticipated hamper the growth of the potential market.

Global Hybrid Composites Market: Fiber Type Analysis

Among the fiber type segments, the carbon-aramid segment is projected to grow at a steadily over the next few years. The carbon-glass segment is anticipated to contribute a major share in the potential market and projected to grow moderately over the long run.

Global Hybrid Composites Market: Resin Analysis

Among the resin segments, the thermoset hybrid composite segment is estimated to contribute a major share in the hybrid composites market. Properties of thermoset resins such as heat, electrical, and mechanical resistance are estimated to boost the growth of the segment. The thermoplastic hybrid composite segment is projected to grow moderately in the potential market.

Global Hybrid Composites Market: Application Analysis

Among the application segments, the automotive & transportation segment is anticipated to grow at a steady rate over the next few years. Growing demand for lightweight materials to improve fuel efficiency by lowering the overall weight of the vehicle is estimated to support the growth of the segment. Moreover, increasing demand for cost-effective and lightweight materials in the automotive industry is projected to drive the growth of the segment.

Global Hybrid Composites Market: Regional Analysis

The Europe hybrid composites market is estimated to contribute a major share in the target market in terms of revenue. Rising number of building & construction activities in the region owing to increasing population is anticipated to augment the growth of the potential market in Europe over a few years. Presence of a large number of automotive manufacturers in countries in the region is projected to boost the growth of the target market in Europe.

Europe is estimated to be the largest market of specialty polystyrene resins followed by the market in the Asia Pacific. The hybrid composites market in the Asia Pacific is anticipated to grow moderately over the next few years. Increasing demand for passenger vehicles in the region owing to the rising spending power of individuals and changing living standards is estimated to drive the growth of the Asia Pacific hybrid composites market. In addition, the presence of a large number of automotive manufacturers in the region is anticipated to boost the growth of hybrid composites market in Asia Pacific.

Global Hybrid Composites Market Segmentation:

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