Hybrid Composites Market Size

Hybrid Composites Market size was over USD 10.47 Billion in 2023 and is projected to exceed USD 74.56 Billion by 2036, witnessing over 16.3% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of hybrid composites is assessed at USD 11.94 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.