PUBLISHER: The Business Research Company | PRODUCT CODE: 1691894
PUBLISHER: The Business Research Company | PRODUCT CODE: 1691894
Hybrid composites refer to materials or structures comprised of two or more different types of reinforcing fibers or materials combined to form a composite material with enhanced or customized properties. They find applications in various fields, including aerospace, construction, household applications, and automotive, due to their superior mechanical properties.
The primary fiber types used in hybrid composites include carbon or glass, aramid or carbon, HMPP (high modulus polyethylene), UHMWPE (ultra-high-molecular-weight polyethylene), and other fiber types. Carbon or glass fibers are lightweight, high-strength synthetic materials composed of thin, strong fibers primarily made of carbon atoms, while glass fibers are a composite material crafted from extremely fine fibers of glass. The various resins involved in hybrid composites are categorized as thermoset and thermoplastic. These composites cater to end-users such as automotive and transportation, aerospace and defense, wind energy, marine, sporting goods, and other sectors.
The hybrid composites market research report is one of a series of new reports from The Business Research Company that provides hybrid composites market statistics, including hybrid composites industry global market size, regional shares, competitors with hybrid composites market share, detailed hybrid composites market segments, market trends, and opportunities, and any further data you may need to thrive in the hybrid composites industry. This hybrid composites market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The hybrid composites market size has grown strongly in recent years. It will grow from $3.8 billion in 2024 to $4.14 billion in 2025 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to increasing cancer incidence, growing aging population, demand for minimally invasive treatments, focus on patient safety, clinical evidence supporting effectiveness.
The hybrid composites market size is expected to see strong growth in the next few years. It will grow to $5.49 billion in 2029 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to advancements in artificial intelligence (ai), rising adoption of adaptive radiation therapy (art), increased focus on precision medicine, global efforts to improve cancer care, growing awareness and education. Major trends in the forecast period include collaborations and partnerships, technological advancements in imaging, technological advancements in imaging systems, increasing focus on patient safety, remote monitoring and telemetry solutions.
The anticipated growth of the hybrid composites market is set to be propelled by the expanding automotive industry. The term 'automotive industry' encompasses a range of entities involved in the complete process of vehicle development, from design and manufacturing to marketing, sales, and maintenance, primarily focusing on automobiles or cars. Hybrid composites find application in electric vehicles, providing a myriad of advantages such as high strength, resistance to corrosion and UV, among others. As an illustration, in July 2023, the International Energy Agency (IEA), a France-based intergovernmental organization, reported a threefold increase in electric vehicle sales, rising from 4% in 2020 to 14% in 2022. The total sales of electric vehicles in 2022 surpassed 10 million units. Consequently, the burgeoning automotive industry is a key driver for the growth of the hybrid composites market.
The growth of the aerospace industry is expected to significantly impact the hybrid composites market. This industry includes both public entities and private companies focused on research, technology, and the production of flight-related products. Hybrid composites are crucial for achieving a balance between lightweight construction and structural strength, which in turn enhances fuel efficiency, optimizes overall performance, and ensures durability in aircraft manufacturing. For instance, in November 2023, the International Trade Administration, a US-based agency within the Department of Commerce that promotes the export of nonagricultural US goods and services, reported that the UK commercial space industry is expanding rapidly, generating over $22 billion in turnover in 2022. Therefore, the growth of the aerospace sector serves as a significant driving force for the hybrid composites market.
Key players in the hybrid composites market are strategically concentrating on product innovations, specifically advanced hybrid friction material composites, to enhance their market profitability. Tenneco Inc., an automotive equipment manufacturer based in the US, exemplifies this trend by launching advanced OE hybrid friction material composites for both electric vehicles and internal combustion engines in April 2022. These advanced hybrid composite materials are designed to deliver high-temperature braking performance, eliminate disc corrosion and minimize brake dust contamination, ensuring optimal performance in electric vehicles.
In September 2022, Avient Corporation, a US-based polymer materials manufacturer, successfully acquired the protective materials business of DSM Protective Materials LLC for an undisclosed amount. This acquisition positions Avient Corporation for expanded market presence and improved production capabilities in protective materials. The move aligns with Avient Corporation's strategy to diversify and strengthen its position in the protective material products sector. DSM Protective Materials LLC, based in the Netherlands, is a prominent manufacturer of hybrid composites.
Major companies operating in the hybrid composites market report are General Electric Company, Toray Industries Inc., Solvay S.A., Owens Corning Fiberglass Corporation, Royal DSM N.V., LANXESS Corporation, Teijin Limited, Avient Corporation, Hexcel Corporation, TPI Composites Inc., SGL Group, Porcher Industries, Gurit Holding AG, Johns Manville International Inc., IDI Composites International Inc., Exel Composites Inc., Composites One LLC, CoreLite Inc., PlastiComp Inc., Axiom Materials Inc., Quantum Composites LLC, Renegade Materials Corporation, Composites Evolution Ltd., B&T Composites S.A., Innegra Technologies LLC
Europe was the largest region in the hybrid composites market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hybrid composites market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the hybrid composites market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The hybrid composites market consists of sales of kenaf-aramid, woven jute or glass fabric, polymer-metal hybrid composite and sisal fiber-reinforced polyester composites. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Hybrid Composites Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on hybrid composites market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for hybrid composites ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The hybrid composites market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.