Hybrid Composites Market Predicted to Rise at a Lucrative CAGR throughout 2018 to 2026
Hybrid Composites Market: Overview
Hybrid composites are composite materials made from a combination of two or more types of reinforcing fibers. Glass-carbon epoxy and carbon-aramid epoxy are the two commonly used types of hybrid composites. Hybrid composites possess high strength and impact resistance. They have longitudinal as well as lateral mechanical strength. Hybrid composites ssare used in applications where a combination of properties offered by different reinforcing fibers is required.
Five types of hybrid composites are available in the market: averaged, interlaminar, intralaminar, separate reinforcing elements, and super hybrids. Fiber fillers are used to enhance impact strength, compression strength, moisture resistance, and fatigue strength of components made form plastics. They also help reduce the price of the structure without compromising upon its strength and quality.
Hybrid Composites Market: Key Segments
The global hybrid composites market can be segmented based on fiber type, resin, and end-use industry. In terms of fiber type, the market can be classified into carbon/glass, carbon/aramid, metal/plastic, wood/plastic, HMPP/carbon, UHMWPE/carbon, and others. Carbon/glass is estimated to be the dominant segment of the market during the forecast period. In terms of resin, the hybrid composites market can be bifurcated into thermoset and thermoplastic.
The thermoplastics segment is anticipated to dominate the market during the forecast period. Based on end-use industry, the market can be divided into automotive & transportation, aerospace & defense, building & construction, wind energy, marine, sporting goods, and others. Building & construction and wind energy are anticipated to be the rapidly growing segments of the global hybrid composites market during the forecast period.
Hybrid Composites Market: Regional Outlook
In terms of region, the global hybrid composites market can be segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific is the major region of the global hybrid composites market. The hybrid composites market in the region is expected to expand at a rapid pace during the forecast period due to a general growth in end-user industries that utilize hybrid composites in the region. Countries such as India, China, and South Korea are estimated to propel the demand for hybrid composites in the region.
North America is also a key consumer of hybrid composites in the world. Europe is also a significant consumer of hybrid composites. Latin America and Middle East & Africa offer lucrative opportunities for the hybrid composites market. The hybrid composites market in Middle East & Africa is majorly driven by the expansion in the oil & gas industry and the downstream processing industry in the region.
Hybrid Composites Market: Key Players
Prominent players operating in the hybrid composites market include Royal DSM (the Netherlands), SGL Group – The Carbon Company (Germany), Gurit (Switzerland), Hexcel Corporation (the U.S.), TEIJIN LIMITED (Japan), Exel Group World Wide (Finland), Solvay SA (Belgium), PlastiComp, Inc. (the U.S.), Innegra Technologies, LLC (the U.S.), and Quantum Composites (the U.S.).