Market Overview:
The Hybrid Fabric is the type of fabrics that consist more than one type of structural fiber. These are the specialty fibers are mainly manufactured by using different combinations of carbon, aramid, glass and other high-strength fibers in the form of layers. Such fabrics are primarily differentiated from the other fibers and fabrics on the basis of the special technical functions that require specific performance properties such as high strength and durability, excellent resistance to heat, flame and chemical agents. Some of the major consumers of this product are automotive, aerospace & defense industry and energy and transportation sector. The Global Hybrid Fabric Market is estimated to grow at a healthy CAGR of more than 15% to reach over USD 450 million in 2023.
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This is mainly attributed to the growing demand from major end-use industries namely automotive, aerospace & defense, and wind energy. For instance, the global market for core materials for aerospace industry is estimated to reach over 43 billion USD by 2023, which in turn is anticipated to fuel the demand for the product during the forecast period.
Market Segmentation:
Based on Combination, the Global Hybrid Fabric Market has been segmented into carbon-aramid, aramid-glass, carbon-glass, carbon-UHMWPE, and others. Among them carbon-glass hybrid fabric is estimated to grow at the highest CAGR owing to surging demand from the high-end vehicles to reduce the overall cost of an automobile. Additionally, there is high growth in demand for the Hybrid Fabric based-composites in the automotive, wind energy, and defense industries.
By Form, the composite segment held the largest market share in 2017 owing to the high strength-to-weight ratio offered by this form.
By End-Use Industry, the Global Hybrid Fabric Market has been categorized into automotive, aerospace & defense, wind energy, consumer goods, sports & leisure, and others. The automotive sector accounted to the major market share in 2017 on account of the surging demand for the product in various automotive applications such as body parts, front body fascia, and interior. Additionally, increasing demand from the rapidly growing renewable energy sector in developing regions on the backdrop of increasing installations is anticipated to propel the market growth during the forecast period.
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Competitive Analysis:
The leading players in the Global Hybrid Fabric Market are Koninklijke DSM N.V. (The Netherlands), Gurit (Switzerland), Hexcel Corporation (US), Solvay (Belgium), BGF Industries, Inc. (US), Exel Composites (Finland), SGL Group (Germany), Textum Inc. (US), HACOTECH Gmbh (Germany), and Arrow Technical Textiles Pvt. Ltd. (India), among others.
Regional Analysis:
The Global Hybrid Fabric Market has been segmented across five regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. The market in Asia-Pacific is projected to grow at the highest CAGR during the forecast period. This healthy growth of the market in this region is attributed to the rising product demand in the major end-users in this region namely automotive and wing energy. This is expected to fuel the market growth in the region during the assessment period.
Europe and North America are expected to witness moderate growth during the forecast period. However, they account for the considerable market share in 2017, mainly due to the high consumption for the advanced light materials in automotive and aerospace industry in these regions. The Middle East & Africa and Latin America held lower of share in this market in 2017.
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