The hybrid fabric market is expected to grow from USD 197 million in 2019 to USD 647 million by 2027, at a CAGR of 16.0% during the forecast period. The major factor driving the market is the balanced cost and performance characteristics offered by hybrid fabric. Hybrid fabric offers properties comparable with carbon fiber such as high strength, and increased resistance to corrosion, but at a low cost than carbon fiber. Its light weightiness also drives its demand.
Download PDF Brochure to Know More: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=122884688
Glass/carbon hybrid fabric accounted for the largest share of the global hybrid fabric market
Glass/carbon fiber hybrid fabric parts are lighter and stronger than their metal counterparts, due to which, they are extensively used in many industries, including automotive & transportation and wind energy. Glass/carbon hybrid fabric is used in high-end vehicles to reduce the overall cost. The glass/carbon hybrid fabric market is witnessing high growth since the last three-to-five years due to an increase in the demand for hybrid composites from the automotive & transportation, wind energy, and marine end-use industries. Due to the growth of 3D printing market, there is rise in the hybrid fabric market. Thus, the demand for the composite form application increases significantly. Technological advances in hybrid fabric materials are likely to boost their applications in the downstream markets. The leading companies recently invested heavily in increasing their production capacities and started adopting various other strategies to meet the rising demand for hybrid fabric.
The market in the automotive & transportation industry is expected to grow at the highest CAGR during the forecast period
The hybrid fabric market has been segmented on the basis of end-use industry into five categories: automotive & transportation, aerospace & defense, wind energy, sports & recreational, and consumer goods. The market in the automotive & transportation end-use industry is expected to grow at the highest CAGR during the forecast period, due to increasing wind turbine installations across the globe especially in APAC. The need for lightweight, high strength, and cost-effective material is the major driver of the market in the automotive & transportation industry. As, hybrid fabric are lightweight in nature, it has significantly increased the demand in the electrical vehicles to reduce fuel consumption and breakdown emissions. Glass/carbon and carbon/flax hybrids are the most commonly used hybrid fabrics in the automotive & transportation industry.
Europe is estimated to account for the largest share of the market in 2019. The region is considered the most advanced region in terms of technology adoption and infrastructure development. Europe is home to some of the major automotive and aerospace & defense equipment manufacturers, which creates a huge demand for hybrid fabric in the region. The presence of a large number of the key industry players offering hybrid fabric for automotive & transportation and aerospace & defense industries is the main driving factor of the hybrid fabric market.
Royal DSM N.V. (Netherlands), SGL Group (Germany), Gurit (Switzerland), Hexcel Corporation (US), Exel Composites (Finland), Solvay (Belgium), Textum Inc. (US), BGF Industries, Inc. (USA), HACOTECH Gmbh (Germany), and Arrow Technical Textiles Pvt. Ltd. (India) are some of the key players in the hybrid fabric market.
Request For Sample Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=122884688
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/hybrid-fabric-market-122884688.html