Hybrid Composites Market Size and Growth Rate:
According to our research report,
Hybrid Composites Market size is poised to reach USD xx Billion by the end of
2023 from USD xx Billion in 2017 and this market witnessed a growth rate of xx%
during the forecast period 2018-2023.
Browse details of 150 number of pages
research report developed on Hybrid Composites Market @ https://www.researchcosmos.com/reports/hybrid-composites-market/42381043
Hybrid Composites Market Overview:
Hybrid composites are materials made from a combination of
two or more types of reinforcing fibers. Carbon-aramid epoxy and glass-carbon
epoxy are the two commonly used types of hybrid composites. Hybrid composites
possess high strength and impact resistance. They have longitudinal as well as
lateral mechanical strength. These composites are used in applications, where a
combination of properties offered by different reinforcing fibers is required.
Hybrid Composites Market Drivers and Restraints:
Growing demand for lightweight materials in the automotive the industry is a key factor to drive the growth of the potential market.
Increasing building & construction industry in developing countries of The Asia Pacific and other regions owing to rapid urbanization and
industrialization is anticipated to augment the growth of the target market
over the forecast period. Moreover, the growing aerospace industry in
developing economies is estimated to support the growth of the market.
In addition, huge manufacturing and large technology cost of
hybrid composites are some factors anticipated to hamper the growth of the world
market.
Hybrid Composites Market Geographical Segmentation:
In terms of geographical presence, the global hybrid
composites market can be categorized into Europe, Asia Pacific, North America, The Middle East & Africa, and Latin America. The Asia Pacific is the major region
of the global market, and is projected to expand at a rapid pace during the forecast
period due to the growing end-user industries of hybrid composites.
An increasing number of building & construction
activities in the region owing to the growing population is anticipated to
augment the growth of the potential market in Europe over the coming years.
Presence of a large number of automotive manufacturers in the region is
projected to boost the growth of the target market in Europe. Europe is
estimated to be the largest market of specialty polystyrene resins followed by
the market in the Asia Pacific. The presence of a large number of automotive
manufacturers in the region is anticipated to boost the growth of hybrid
composites market in the Asia Pacific. Increasing demand for passenger vehicles
in the region owing to the rising spending power of individuals and changing
living standards is estimated to drive the growth of the Asia Pacific hybrid
composites market.
Key players of the Hybrid Composites Market:
Some of the major and prominent players operating in the global
hybrid composites market include Royal DSM, Hexcel Corporation, SGL Group, The
Carbon Company, Gurit, TEIJIN LIMITED, Exel Group World Wide, Solvay SA,
PlastiComp, Inc., Innegra Technologies, LLC, and Quantum Composites.
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