Market Analysis
The hybrid fabric market projected to touch USD 420 million at a 9.1% CAGR between 2020–2027, reveals the new Market Research Future (MRFR) report. A hybrid fabric, simply put, is a fabric that has the combination of Kevlar, yarn, and carbon in different proportions for warp and weft. Owing to its alluring features such as reduce cost, low aerial weights, and improved resistance, it is preferred over other fabrics and has wide applications in automotive and transportation, sporting and recreational, and other types of consumer goods industries.
Numerous factors are adding to the hybrid fabric market demand. Such factors, as revealed by the latest MRFR report, include the growing demand for hybrid fabrics from sports and recreational industries, wind energy, automotive, and transportation industries, technological advances, its beneficial features such as robustness and ability to reduce item weight, and rising preference of hybrid fabric for changing fashion trends and changing lifestyles.
On the contrary, the high cost of technology may restrict the hybrid fabric market growth over the forecast period.
Market Segmentation
The Market Research Future Report provides an inclusive segmental analysis of the global hybrid fabric market based on combination, form, and end use industry.
By combination, the global hybrid fabric market is segmented into carbon-UHMWPE, carbon-glass, aramid-glass, carbon-aramid, and others. Of these, carbon-glass hybrid fabric will lead the market over the forecast period for the burgeoning demand from high-end cars for reducing the cost of automobiles in its entirety. Besides, it also has a high demand in defense, wind energy, and automotive industries.
By form, the global hybrid fabric market is segmented into non-composite and composite. Of these, the composite segment will dominate the market over the forecast period for its high strength-to-weight ratio.
By end use industry, the global hybrid fabric market is segmented into sports and leisure, consumer goods, wind energy, aerospace and defense, automotive, and others. Of these, the automotive segment will have a major share in the market over the forecast period for its increasing use in different auto applications, namely interior, front body fascia, and body parts. Besides, growing demand from the renewable energy sector is also adding market growth.
Regional Analysis
By region, the global hybrid fabric market report covers the growth opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), Latin America, and the Middle East and Africa (MEA). Of these, the APAC region is predicted to spearhead the market over the forecast period. Factors adding to the hybrid fabric market growth in the region include the rapidly growing aerospace energy sector coupled with the burgeoning demand for hybrid fabric from major end use industries, namely sports leisure, wind energy, and automotive.
The hybrid fabric market in North America is predicted to hold the second-largest share during the forecast period. The US is the key contributor in the region for the significant presence of the sports, aerospace defense, and automotive industry.
The hybrid fabric market in Europe is predicted to have significant growth over the forecast period for its growing demand from the automobile industry. The aerospace automotive industries are the key consumers of hybrid fabric. Spain, Germany, Italy, and France are the key contributors in the region.
The hybrid fabric market in Latin America and the MEA is predicted to have steady growth over the forecast period for the rapidly growing automotive industry and high investment potential.
Key Players
Leading players profiled in the global hybrid fabric market report include Arrow Technical Textiles Pvt. Ltd. (India), HACOTECH Gmbh (Germany), Textum Inc. (US), SGL Group (Germany), Exel Composites (Finland), BGF Industries, Inc. (US), Solvay (Belgium), Hexcel Corporation (US), Gurit (Switzerland), and Koninklijke DSM N.V. (The Netherlands), among others. Industry players have adopted several strategies such as mergers, acquisitions, partnerships, new product launches, collaborations, and extensive RD to create a footprint in the market.
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and also about what action to take based on these aspects.
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