Hybrid Fabrics Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, And Growth Forecast To 2027
Market Overview:
The Hybrid Fabric is the type
of fabrics that consist more than one type of structural fiber. These are the
specialty fibers are mainly manufactured by using different combinations of
carbon, aramid, glass and other high-strength fibers in the form of layers.
Such fabrics are primarily differentiated from the other fibers and fabrics on
the basis of the special technical functions that require specific performance
properties such as high strength and durability, excellent resistance to heat,
flame and chemical agents. Some of the major consumers of this product are
automotive, aerospace & defense industry and energy and transportation
sector.
The Global Hybrid Fabric Market is
estimated to grow at a healthy CAGR of more than 15% to reach over USD 450
million in 2023. This is mainly attributed to the growing demand from major
end-use industries namely automotive, aerospace & defense, and wind energy.
For instance, the global market for core materials for aerospace industry is
estimated to reach over 43 billion USD by 2023, which in turn is anticipated to
fuel the demand for the product during the forecast period.
Competitive Analysis:
The leading players in the
Global Hybrid Fabric Market are Koninklijke DSM N.V. (The Netherlands), Gurit
(Switzerland), Hexcel Corporation (US), Solvay (Belgium), BGF Industries, Inc.
(US), Exel Composites (Finland), SGL Group (Germany), Textum Inc. (US),
HACOTECH Gmbh (Germany), and Arrow Technical Textiles Pvt. Ltd. (India), among
others.
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Market Segmentation:
Based on Combination, the Global Hybrid Fabric Market has
been segmented into carbon-aramid, aramid-glass, carbon-glass, carbon-UHMWPE,
and others. Among them carbon-glass hybrid fabric is estimated to grow at the
highest CAGR owing to surging demand from the high-end vehicles to reduce the
overall cost of an automobile. Additionally, there is high growth in demand for
the Hybrid Fabric based-composites in the automotive, wind energy, and defense
industries.
By Form, the composite segment held the largest
market share in 2017 owing to the high strength-to-weight ratio offered by this
form.
By End-Use Industry, the Global Hybrid Fabric Market has been
categorized into automotive, aerospace & defense, wind energy, consumer
goods, sports & leisure, and others. The automotive sector accounted to the
major market share in 2017 on account of the surging demand for the product in
various automotive applications such as body parts, front body fascia, and
interior. Additionally, increasing demand from the rapidly growing renewable
energy sector in developing regions on the backdrop of increasing installations
is anticipated to propel the market growth during the forecast period.
Regional Analysis:
The Global Hybrid Fabric
Market has been segmented across five regions—Asia-Pacific, North America,
Europe, Latin America, and the Middle East & Africa. The market in
Asia-Pacific is projected to grow at the highest CAGR during the forecast
period. This healthy growth of the market in this region is attributed to the
rising product demand in the major end-users in this region namely automotive
and wing energy. This is expected to fuel the market growth in the region
during the assessment period.
Europe and North America are
expected to witness moderate growth during the forecast period. However, they
account for the considerable market share in 2017, mainly due to the high
consumption for the advanced light materials in automotive and aerospace
industry in these regions. The Middle East & Africa and Latin America held
lower of share in this market in 2017.
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