Hybrid Composites Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by Fiber Type (Carbon/Glass, Carbon/Aramid, Metal/Plastic, Wood/Plastic, and Others), Resin Type (Epoxy, Polyester, Phenolics, Polypropylene, Polyamide, Thermoplastics, and Others), End-user Industry (Automotive & Transportation, Building & Construction, Aerospace, Marine, and Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East & Africa).

Market Snapshot

Hybrid composites market Overview
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: >12 %
Hybrid composites market Key Players

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Market Overview

The global hybrid composites market is expected to grow at with a CAGR greater than 12% during the forecast period. The better properties exhibited by hybrid composites in comparison to the traditional composites is a major driving factor for the market studied. However, high cost of raw materials is hindering the growth of the market studied. 

  • Carbon/Glass hybrid type accounts for the highest market share and is expected to dominate the market studied during the forecast period.
  • Asia-Pacific is expected to witness the highest growth rate during the forecast period owing to the high demand from China.

Scope of the report

The Hybrid Composites market report includes: 

Fiber Type
Carbon/Glass
Carbon/Aramid
Metal/Plastic
Wood/Plastic
Others
Resin Type
Epoxy
Polyester
Phenolics
Polypropylene
Polyamide
Thermoplastics
Others
End-user Industry
Automotive & Transportation
Building & Construction
Aerospace
Marine
Others
Geography
Asia-Pacific
China
India
Japan
South Korea
ASEAN Countries
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East & Africa
Saudi Arabia
South Africa
Rest of Middle-East & Africa

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Key Market Trends

Carbon/Glass to Dominate the Market

  • Hybrid carbon fiber/glass fiber material is a lightweight and high-strength alternative for traditional fiberglass and metal applications in the automotive & transportation, building & construction and other industrial markets. 
  • The hybrid material offers the performance benefits of carbon fiber at a cost similar to high-performance fiberglass. 
  • Users can get up to 90% of carbon’s benefits at a cost much lower than what they would have to incur in case of using carbon fiber. 
  • Parts made out of these hybrid composites provide a high strength to weight ratio and are devoid of corrosion. These have extended service life requiring less maintenance. Their high specific properties meet the needs of applications that lay utmost importance on safety and strength.
  • Owing to the above-mentioned factors, carbon/glass fiber type i likely to dominate the market during the forecast period.
Hybrid composites market Key Trends

Asia-Pacific to Witness the Highest Growth Rate

  • The infrastructure industry in Asia-Pacific has been growing at a healthy rate in recent times. Hence, the region is estimated to witness tremendous growth rate over the assessment period in the Cement Board market.
  •  The Asia-Pacific region is currently experiencing high investments in residential and commercial construction, especially in China, Japan, Taiwan and South Korea and in developing economies such as India, Malaysia, Indonesia and Vietnam. 
  • All of these factors will be supported by the ever-increasing population in the region, urbanization and their increasing purchasing power. Regulations related to VOC emissions are currently being implemented in many regions of Asia-Pacific, and this might also drive the usage of cement boards such as fiber cement board (FCB) and cement bonded particleboard (CBPB).
  • Hence, owing to the above-mentioned factors, Asia-Pacific is likely to witness the hihgest growth during the forecast period.
Hybrid composites market Growth by Region

Competitive Landscape

The hybrid composites market is moderately fragmented as the market share is divided between many players. Key players in the market include LANXESS, PlastiComp, Inc., PolyOne Corporation, Hexcel Corporation, and SGL Carbon, among others.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Better properties than traditional composites

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 High Cost of Raw Materials

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value-chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Fiber Type

      1. 5.1.1 Carbon/Glass

      2. 5.1.2 Carbon/Aramid

      3. 5.1.3 Metal/Plastic

      4. 5.1.4 Wood/Plastic

      5. 5.1.5 Others

    2. 5.2 Resin Type

      1. 5.2.1 Epoxy

      2. 5.2.2 Polyester

      3. 5.2.3 Phenolics

      4. 5.2.4 Polypropylene

      5. 5.2.5 Polyamide

      6. 5.2.6 Thermoplastics

      7. 5.2.7 Others

    3. 5.3 End-user Industry

      1. 5.3.1 Automotive & Transportation

      2. 5.3.2 Building & Construction

      3. 5.3.3 Aerospace

      4. 5.3.4 Marine

      5. 5.3.5 Others

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 ASEAN Countries

        6. 5.4.1.6 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 France

        4. 5.4.3.4 Italy

        5. 5.4.3.5 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle-East & Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle-East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 LANXESS

      2. 6.4.2 PlastiComp, Inc.

      3. 6.4.3 PolyOne Corporation

      4. 6.4.4 Hexcel Corporation

      5. 6.4.5 SGL Carbon

      6. 6.4.6 RTP Company

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Frequently Asked Questions

The Hybrid Composites Market market is studied from 2016 - 2026.

The Hybrid Composites Market is growing at a CAGR of >12% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

LANXESS, PlastiComp, Inc. , PolyOne Corporation , Hexcel Corporation , SGL Carbon are the major companies operating in Hybrid Composites Market.

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