Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Hybrid Composites Market size was over USD 12.06 billion in 2024 and is poised to exceed USD 84.92 billion by 2037, growing at over 16.2% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of hybrid composites is evaluated at USD 13.62 billion.
Hybrid composites, which combine both glass and carbon fibers, enable manufacturers to customize mechanical qualities for any particular application without modifying the required dimensions of the tubes or poles. These properties of hybrid composites are escalating the market growth. For instance, the United Nations Environment Programme predicts that between 2017 and 2030, chemical sales will nearly quadruple.
For principal structures of commercial, industrial, aeronautical, marine, and recreational facilities a hybrid composite may be used. It's got a lot of advantages for the aeronautics industry like high fatigue and corrosion resistance, plus excellent impact protection. The U.S. commercial aviation industry contributes USD 1 trillion yearly, or 5% of the country's GDP.
Hybrid Composites Sector: Growth Drivers and Challenges
Growth Drivers
- Increasing Demand for Lightweight Materials – Composites and polymers, for example, are a great deal lighter than steel, brass, alloys, iron, etc. By using these materials, manufacturers may reduce the weight of airplane components, which helps to minimize fuel costs. Thus, the increasing demand for lightweight materials in the aerospace and defense industry is accelerating the hybrid composites market growth. For instance, Airbus has delivered over 484 narrow-body commercial aircraft in 2020, compared to Boeing's over 43 deliveries.
- Technological Advancements - Technological advances that reduce the duration of production are expected to have a positive impact on demand for automotive products. 85.4 million motor vehicles were produced globally in 2022, a 5.7% increase from 2021.
- Growing Environmental Concerns - Manufacturers are now using these hybrid composites in place of metal parts due to rising worries about fuel usage and CO2 emission levels. This will drive market expansion as well.
Challenges
- Increasing Prices of Raw Materials – The raw materials needed for the production of hybrid composite are expensive, making consecutive component production expensive. The cycle time, which is closely related to the amount of time needed for filling and curing, has a substantial impact on the production cost of hybrid composite products. These factors may become hindrances for the market of hybrid composites.
- Lack of Skilled Labour Force
- Complicated Manufacturing Techniques
Hybrid Composites Market: Key Insights
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
16.2% |
|
Base Year Market Size (2024) |
USD 12.06 billion |
|
Forecast Year Market Size (2037) |
USD 84.92 billion |
|
Regional Scope |
|
Hybrid Composites Segmentation
Fibre (Carbon/Glass, Carbon/Aramid, Metal/Plastic, Wood/Plastic)
The carbon/glass category is poised to lead the market during the forecast period with about 49% share of the global hybrid composites market. Carbon/glass composites have better properties such as lightweight that help in reducing the weight of the wind blades and vehicles. In the production of hybrid composite laminates, carbon/glass and glass fiber-reinforced fabrics with an epoxy matrix are used. These composite materials offer a range of properties that increase demand in industry and beyond, e.g. reduced thermal expansion, strong rigidity, tolerance to temperatures up to 1 500 C, chemical resistance values higher than 700 C as well as lower weight. With significantly less expense than if they had utilized carbon fiber, users can achieve up to 85 to 90% of the benefits of carbon.
End-Use (Automotive & Transportation, Construction, Wind Energy, Marine, Aerospace & Defence, Sporting Goods)
The automotive & transportation industry is expected to garner the largest market share. In the automotive sector, the usage of hybrid composites has made high-performance and luxury affordable. Hybrid composites' improved cost and performance attributes are anticipated to fuel demand in the automotive and transportation end-use sectors.
Our in-depth analysis of the global market includes the following segments:
|
Fiber |
|
|
End-User |
|
|
Resin Type |
|
Want to customize this research report as per your requirements? Our research team will cover the information you require to help you take effective business decisions.
Customize this ReportHybrid Composites Industry - Regional Synopsis
APAC Forecast
By region, Asia Pacific is projected to hold 34% share of hybrid composites market during the forecast period. The market is growing owing to the extension of the manufacturing sector besides strong growth in automotive production in the region. The region is also the most profitable destination for the construction, aerospace, and electronics sectors because of the presence of major key players. In 2022, 66% of investors want to make investments in Australian infrastructure. In the meantime, 60% plan to make investments in Singapore's infrastructure.
North America Statistics
North America is expected to hold the second-largest share of about 28% in the market during the forecast period. The market in the region is growing owing to the presence of countries such as the United States which is one of the major manufacturers of commercial aircraft, cargo jets, and defense aircraft, and is also projecting the growth of the market. A total of 35 mergers and acquisitions deals for more than USD 10.3 Billion have been revealed in North America's aerospace and defense industry over the previous year.
Companies Dominating the Hybrid Composites Landscape
- General Electric
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- DSM N.V.
- QUANTUMETA
- Hexcel Group
- Gurit
- Exel Composites
- Solvay SA
- PlastiComp, Inc.
- SGL group
- PolyOne Corporation
In the News
- The quick press molding technique is being used by Hexcel Corporation (NYSE: HXL) in conjunction with NaCa Systems, a Tier 1 provider of natural fiber composite automobile interior parts, to create a lightweight carbon fiber prepreg and wood fiber composite sports car seat back.
- Solvay helps to produce additively made carbon fiber reinforced plastic CFRP parts in mass production by working with advanced manufacturing technology OEM 9T Labs AGZrich, Switzerland
Author Credits: Rajrani Baghel
- Report ID: 3890
- Published Date: Nov 08, 2024
- Report Format: PDF, PPT
