The growth of the market is governed by various factors such as growing demand from the automotive industries and stringent government regulations
North America Hybrid Composites Market Size – USD 0.49 Billion in 2018, Growth - CAGR of 14.8%, Trends-Emergence of North America Hybrid Composites for newer application
The North America Hybrid Composites Market is expected to reach USD 1.49 Billion by 2026, according to a new report by Reports and Data. The North America Hybrid Composites Market is anticipated to show robust growth during the forecast period. The key factors driving the market are the ability to balance cost and performance characteristics which tend to stimulate the market globally.
Reports and Data's Global North America Hybrid Composites Market research report is an in-depth investigation that provides an industry-wide overview of existing and emerging growth patterns, end-user analysis, and other key data that has been tested and validated by industry experts and professionals. The report examines the market in terms of importance, share, size, demand and supply, patterns, competitive landscape, industrial chain analysis, and other important factors. The report also provides a detailed outlook for the industry's driving and restraining forces, as well as micro and macroeconomic factors that are expected to influence its development.
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Top Companies: Hexcel Corporation, SGL Carbon SE, Exel Group World Wide, TEIJIN LIMITED, Solvay, Gurit, Innegra Technologies, LLC, PlastiComp, Inc., Royal DSM N.V, General Electric
Further key findings from the report suggest:
- The North America Hybrid Composites Market is estimated to reach USD 1.49 Billion by 2026, at a CAGR of 14.8% during the forecast period.
- The carbon/glass and glass/carbon fiber accounts for the largest share of 36.7% of the market in 2018.
- Carbon/glass fibers are often used in the manufacturing of spare seatbacks, door panels, tire lining, boot liner, among others. It also shows high draping capacity, making it perfect for automotive manufacturers. These components help in decreasing vehicle weight and hence increases fuel efficiency.
- The automotive and transportation end user segment accounts for the largest share of 27.3% of the market in 2018.
- The thermoset resin type is expected to witness a higher CAGR of 14.8% during the forecast period.
- The European market accounts for the largest market share of 26.2% of the market in 2018 and is expected to provide lucrative growth towards the global market, due to the presence of prominent automotive and aerospace defense equipment manufacturers leading massive demand for hybrid fabrics in the region.
- Various players are developing strategies to mark their presence in the industry.
- Solvay developed a new hybrid composite material in October 2017. The composite is produced using a mixture of fibers, namely carbon and glass. The resin applied is polyarylamide. The development has supported the company to enhance its presence in the North America Hybrid Composites market.
Market Overview:
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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Market Segmentation:
The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The global North America Hybrid Composites market is segmented into:
Resin Type Outlook (Volume, Kilo Tons; and Revenue, USD Billion; 2016-2026)
- Thermoset
- Thermoplastic
Fiber Outlook (Volume, Kilo Tons; and Revenue, USD Billion; 2016-2026)
- Carbon/Glass and Glass/Carbon
- Aramid/Carbon
- HMPP/Carbon
- UHMWPE/Carbon
- Others
End User Outlook (Volume, Kilo Tons; and Revenue, USD Billion; 2016-2026)
- Automotive Transportation
- Marine
- Aerospace Defense
- Wind Energy
- Others
Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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North America Hybrid Composites Market https://www.reportsanddata.com/report-detail/hybrid-composites-market
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