Global Hybrid Composites Market by Fiber, End-Use, by Resin, by Region and Segment, Forecasts 2020–2026

Global Hybrid Composites Market is valued to reach USD 865 Million by 2023, growing at CAGR of 14.8% during forecast period 2020–2026. Major advantages of hybrid composites are high tensile, greater strength, balancing factors and thermal distortion stability. Growing demand from automotive, transportation and wind energy end-use industries are factors driving the market.

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The study involved four major activities to estimate the current market size for hybrid composites. The exhaustive secondary research was done to collect information on market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

In the secondary research process, various secondary sources such as Hoovers, Bloomberg BusinessWeek, and Factiva have been referred to, so as to identify and collect information for this study. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold standard & silver standard websites, food safety organizations, regulatory bodies, trade directories, and databases.

Market Trends, Drivers, Restraints and Opportunity:

High demand for reinforced epoxy is likely to result in a high market growth attributing to significance of research and development process for end-use product. In addition, the market is significantly driven by rise in demand from automotive & transportation sector
Diverse applications of hybrid composites are likely to be used in combination which in turn impels in a high market demand
Government norms and regulations in the developed regions significantly trigger the market growth for hybrid composites resulting out of industrialization and urbanization
Surge in construction activities are creating immense opportunities in the following years. For instance, use of composite hybrid polymers for semiconductors used in construction is likely to enhance the market growth
However, surge in costs for technology for hybrid composites is restricting the market growth in the forecast period