February 13, 2020
According to a recent study titled ‘Global Hybrid Fabrics Market Size By Product (Glass/Carbon, Glass/Aramid, Carbon/Aramid), By End-user (Automotive, Aerospace & Defense, Wind Energy, Sports & Recreational Equipment), Industry Analysis Report, Regional (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Indonesia, Australia, South Korea, Thailand, Brazil, Mexico, Saudi Arabia, South Africa, UAE), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025’ available with Market Study Report LLC, the global hybrid fabrics market is projected to surpass USD 400 million by the year 2025.
Excessive use of fossil fuels is adversely affecting the environment, thereby, compelling various nations to shift their focus towards developing renewable energy sources and deploying wind turbines. Increasing use of hybrid fabric in manufacturing rotor blades for wind turbines, as it reduces weight and improves operational efficiency, is boosting the growth of hybrid fabrics market. Widespread use of hybrid fabrics across various industry verticals such as automotive and defense will further stimulate the business outlook.
On the other hand, traditional fabrics have low cost as the required raw materials are cheap and abundantly available, which will negatively impact the demand for hybrid fabrics. In addition, high cost of raw material and complex weaving technology in case of hybrid fabrics may hamper the market growth in the coming years.
Based on the product type, glass/carbon segment accounted for the highest market share in 2018 and is expected to witness a substantial growth in the coming years. These fabrics are increasingly substituting steel across automotive and rail industry as they reduce the overall vehicle weight without increasing the cost. Glass/carbon hybrid fabrics possess high tensile and flexural properties making it favorable for manufacturing various exterior and interior automobile parts such chassis, battery casings, and leaf springs.
Speaking of the end-user scope, aerospace & defense segment held the highest market share by volume in 2018 and is presumed to see a sizeable growth during the analysis period. The segment growth can be affixed to the application of hybrid fabrics in manufacturing various aircraft & defense components such as insulation panels, radomes, wings, aircraft seats, and fairings.
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Considering the geographical outlook, the U.S. hybrid fabrics market is slated to grow significantly over the forecast timeline, owing to inflowing investment in the defense sector. On the other hand, Asia Pacific hybrid fabrics market will also register a high growth during 2019-2025, on account of heavy investments by China and India in their respective defense sectors. Rapid industrialization and expansion of automobile sector across the region will augment the demand for hybrid fabrics in the coming years.
Key players of hybrid fabrics market include Porcher Industries, Hexcel Corporation, Kordsa, Gurit, SGL Carbon, Exel Composites PLC, BGF Industries, Inc., Textum, Inc., Hacotech GmbH, Colan Australia, and Devold Amt AS among others.
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