What is the future of Hybrid Composites Market? Know Covid Impact on Size, Share & Forecasts
June 11, 2020
The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Hybrid Composites Market.
It was estimated prior to this unanticipated outbreak that the Hybrid Composites Market was expected to grow at a CAGR of 16.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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Hybrid Composites have more than two reinforcement fibers combined together. Such composites are known for their high strength and high-resistance properties.
Hybrid Composites can be of different types such as carbon-glass, aramid-carbon, and others. Automotive, marine, aerospace, wind energy, sporting goods, and others are the application areas where hybrid composites are used.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Based on the fiber type, the market is segmented as carbon/glass and glass/carbon, aramid/carbon, HMPP/carbon, UHMWPE/carbon, and others. Carbon/glass and glass/carbon are estimated to lead the market during the forecast period. The growth is owing to their extensive use in the automotive & transportation and wind energy industries.
Based on the resin type, the market is segmented as thermoset and thermoplastic. The thermoset resin segment is expected to dominate the market in the coming five years. Thermoset resins own remarkable strength and crack resistance. These resins are felicitous for employment in automotive & transportation and marine applications, which are some of the largest end-use industries calling for materials that bear lightweight, high strength, and flammability performance. Thermoset resins command the hybrid composites market supported by their extensive applications in various end-use industries including aerospace & defense, automotive & transportation, wind energy, and marine.
Based on the end-use industry type, the market is segmented as automotive & transportation, marine, aerospace & defense, wind energy, sporting goods, and others. The automotive & transportation segment will lead the market during the forecast period. The growth is owing to the practice that the automotive & transportation industry uses hybrid composites to reduce weight and increase the fuel efficiency of vehicles. The use of hybrid composites in the automotive industry has sponsored good performance and luxury at economical pricing. The better cost and performance properties offered by hybrid composites is expected to bolster their demand in the automotive & transportation end-use industry in the coming five years.
In terms of regions, Europe is expected to lead the global hybrid composites market. The growth is owing to the region experiencing maximum developments in the hybrid composites market. A large number of automotive and aerospace component manufacturers across the region are continuously engaged in product innovations and development in this region. The manufacturers across the region are adopting various growth strategies to underpin their position in the market.
Key Players:
Some of the major players in the hybrid composites market are Aerodyn Energiesysteme GmbH, Colan Australia, Composites Evolution, C. Cramer, Weberei, GmbH & Co. Kg, Devold Amt, Exel Composites PLC, G. Angeloni S.R.L., Innegra Technologies, LLC, Hexcel Corporation, and Teijin Limited.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Hybrid Composites Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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