Global hybrid fabrics market was exceeded USD 213.4 million in 2019, and is projected to cross USD 418.0 million by 2027, growing at a CAGR of 9.0% from 2020 to 2027, According to the report published by Allied Market Research
Hybrid Fabrics Market growth is driven by propelled by increasing importance of lightweight fabrics, surge in application in automotive and aircraft, and low emission norms across the globe. Nevertheless, the high cost of carbon/aramid and availability of low cost alternatives curtail down the market growth. However, rising application of hybrid fabrics in wind turbine is anticipated to create new opportunities in the near future.
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Based on fiber type, the glass/carbon segment contributed to the largest market share in 2019, accounting for nearly two-fifths of the global hybrid fabrics market, and is projected to maintain its lead status during the forecast period. This is attributed to growing application in aerospace and automotive sectors. However, the carbon/UHMWPE segment is estimated to manifest the highest CAGR of 11.4% from 2020 to 2027.
– The extended lockdowns and regulations have badly impacted the production and supply chain in the industry.
– The restrictions on imports and exports have further resulted in a shortage of raw materials, thereby impacting the production capacity.
– The government in different regions have eased off the regulation in order to continue the activities. This has assisted the market players to re-initiate their processes.
Based on application, the aerospace and defense segment accounted for the highest market share, contributing to more than one-third of the global hybrid fabrics market in 2019, and is expected to maintain its dominant share by 2027.
This is owing to rising demand for lightweight and high strength fabrics for cabin components, rotor blades, avionics, tooling, brakes and brake lining. However, the automotive segment is anticipated to grow at the highest CAGR of 10.8% during the forecast period. This is attributed to the growing prominence of lightweight vehicles for commercial and military sector.
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Based on region, the Europe, followed by North America, held the largest share of the global hybrid fabrics market, contributing to more than one-third of the total share in 2019, and will continue its leadership position during the forecast period. This is attributed to large presence of hybrid fabrics manufacturers offering wide range of products.
On the other hand, the Asia-Pacific region is anticipated to manifest the fastest CAGR of 11.6% from 2020 to 2027. The region is experiencing shifting in the trend toward lightweight automotive with high compressive and tensile strength, which drives the growth of the hybrid fabrics market.
Leading players of the market-
. Solvay SA
. SGL Group
. Kordcarbon, a.s.
. Gurit Holding AG
. Textum inc.
. BGF Industries, Inc.
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.