Growing Investments in R&D to Drive Hybrid Composites Market Growth| MarketsandMarkets™

 Hybrid composites are composite materials composed of two or more different constituents. They are typically made up of two or more distinct components, such as metal and polymers or carbon and glass fibers. Hybrid composites have several advantages, including increased strength and stiffness, as well as improved corrosion resistance and thermal conductivity. They're used in everything from automotive and aerospace components to medical implants and consumer goods.

The report "Hybrid Composites Market by Fiber Type, Resin (Thermoset and Thermoplastic), End-Use Industry (Automotive & Transportation, Aerospace & Defense, Wind Energy, Marine, Sporting Goods), and Region - Global Forecast to 2023", The major factor driving the market is balanced cost and performance characteristics offered by hybrid composites. Hybrid composites offer properties comparable with carbon fiber such as high strength, low weight, and increased resistance to corrosion, but at a lesser price than carbon fiber composites.

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Carbon/glass and glass/carbon hybrid fiber composites accounted for the largest share

Hybrid composites are composite materials composed of two or more types of fibers. The global hybrid composites market is predicted to expand during the forecast period due to rising demand for lightweight and long-lasting materials. Carbon/glass and glass/carbon hybrid fiber composites accounted for the greatest proportion of the worldwide hybrid composites market, according to Grand View Research, due to their superior strength and electrical qualities. These hybrid composites are employed in a variety of industries, including aerospace, automotive, sporting goods, and maritime. The growing demand for lightweight and long-lasting materials in the automotive industry is projected to propel market expansion.

The wind energy industry is expected to grow at the highest CAGR in the global hybrid composites market

Over the projected period, the wind energy industry is expected to develop at the fastest CAGR in the worldwide hybrid composites market. Wind energy is one of the most promising renewable energy sources, and its use is growing by the day. Hybrid composites are gaining popularity in the wind energy sector due to their ability to reduce component weight and improve wind turbine efficiency. The growing demand for lightweight and durable wind turbine components is likely to fuel the expansion of the wind energy hybrid composites market. Furthermore, rising awareness of the benefits of hybrid composites is projected to propel the market forward.

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Europe is expected to be the largest hybrid composites market during the forecast period

Due to the rising demand for sophisticated materials in the automotive, aerospace, and construction industries, Europe is anticipated to be the region with the largest hybrid composites market. The region is characterized by rising demand for versatile, lightweight materials that are also sturdy. Growth in the region is anticipated to be mostly driven by the European automobile sector, which is continuously looking for new materials to make its vehicles lighter and more fuel-efficient. The aerospace sector in Europe is also anticipated to expand greatly, as the continent is home to several of the top aircraft producers in the world, who are always looking to adapt and incorporate cutting-edge materials into their manufacturing processes.

Some of the key players in the hybrid composites market are Royal DSM N.V. (Netherlands), SGL Group (Germany), Gurit (Switzerland), Hexcel Corporation (US), Teijin Limited (Japan), General Electric (US), Exel Composites (Finland), Innegra Technologies, LLC (US), Solvay (Belgium), PlastiComp, Inc. (US) and others.

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