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The demand for hybrid composites in aerospace and defense for aircraft, helicopters and general aviation is rising, thereby fueling the Hybrid Composites Market

HYDERABAD, TELANGANA, INDIA, January 10, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that The Hybrid Composites Market size is estimated to reach US$1.5 billion by 2027, after growing at a CAGR of 13.5% during the forecast period 2022-2027. Hybrid composites are materials that consist of two or more fiber types embedded in a single polymer matrix. These composites include thermoset and thermoplastic resins and fibers and offer superior features such as enhanced mechanical properties, high impact resistance, excellent strength and improved mechanical features. Hybrid composites have major applicability in the automotive sector, which acts as a driving factor in the hybrid composites industry. According to the Society of Indian Automobile Manufacturers (SIAM), the production of passenger vehicles, commercial vehicles, three-wheelers, two-wheelers and quadricycles increased from 22,655,69 units in 2020-21 to 22,933,230 units in 2021-22 in India. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

Click here to browse the complete report summary:
https://www.industryarc.com/Research/Hybrid-Composites-Market-Research-502979

Key takeaways:

This IndustryARC report on the Hybrid Composites Market highlights the following areas -

1. The Asia-Pacific dominates the Hybrid Composites Market, owing to growth factors such as the flourished base for the transportation sector, initiatives towards construction projects and fast-paced urbanization, thereby boosting growth in this region.

2. The flourishing automotive sector across the world is propelling the demand for Hybrid Composites for various applications in vehicle components, door panels, vehicle-electric components and others, thereby influencing the growth in the hybrid composites market size.

3. The thermoset resin types such as epoxy, polyester and others have significant demand in the hybrid composites over thermoplastics type due to their superior features such as superior strength and preference for high-heat temperature.

4. However, the high costs associated with the production and technology costs act as a challenging factor in the hybrid composites industry.

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Segmental Analysis:

1. The carbon/glass segment held a significant Hybrid Composites Market share in 2021 and is projected to grow at a CAGR of 13.4% during the forecast period 2022-2027. The carbon/glass fabric with the epoxy resin is significantly utilized for the production of hybrid composite laminates owing to excellent properties such as high stiffness, lightweight, high chemical resistance and low thermal expansion over other types.

2. The Asia-Pacific held the largest Hybrid Composites Market share in 2021 up to 42.2%. The significant growth for hybrid composites in this region is influenced by the established base for the automotive sector, flourishing production base for construction and rapid urbanization. The automotive industry is significantly growing in APAC owing to growth factors such as rising public transportation, demand for fuel-efficient and vehicle electrification and rising income levels.

3. The automotive segment held a significant Hybrid Composites Market share in 2021 and is forecasted to grow at a CAGR of 13.7% during the forecast period 2022-2027. Hybrid composites have a flourishing application in the automotive sector for vehicle door panels, electrical components and others due to their excellent features such as high impact resistance, strength and versatility. The lucrative growth in the automotive industry is influenced by factors such as rising vehicle production, demand for fuel-efficient and vehicle electrification and rapid industrialization.

Competitive Landscape:

The top 5 players in the Hybrid Composites Industry are -

1. Royal DSM
2. SGL Group
3. TEIJIN Limited
4. Solvay SA
5. Quantum Composites

Click on the following link to buy the Hybrid Composites Market Report:
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IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.

Related Reports:

A. Construction Composites Market
https://www.industryarc.com/Report/16450/construction-composites-market.html

B. Functional Composites Market
https://www.industryarc.com/Report/16467/functional-composites-market.html

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