The growth of the market is governed by various factors such as growing demand from automotive industries and stringent government regulations
Hybrid Fabric Market Size – USD 173.2 Million in 2018, Growth - CAGR of 15.9%, Trends-Emergence of hybrid fabric for newer application
The Hybrid Fabric Market is expected to reach USD 564.8 Million by 2026, according to a new report by Reports and Data. The Hybrid Fabric Market is anticipated to show robust growth during the forecast period. The key factors driving the market are the ability to balance cost and performance characteristics tend to stimulate the market globally.
Reports and Data's Global Hybrid Fabric Market research report is an in-depth investigation that provides an industry-wide overview of existing and emerging growth patterns, end-user analysis, and other key data that has been tested and validated by industry experts and professionals. The report examines the market in terms of importance, share, size, demand and supply, patterns, competitive landscape, industrial chain analysis, and other important factors. The report also provides a detailed outlook for the industry's driving and restraining forces, as well as micro and macroeconomic factors that are expected to influence its development.
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Top Companies: Exel Composites Plc, BGF Industries, Inc., Arrow Technical Textiles Pvt Ltd, Weberei, C. Cramer, GmbH Co. Kg, Cit Composite Materials Italy, Caar Reinforcements Ltd, Composite Fabrics of America (CFA), Colan Australia, Devold AMT, Fiberpreg, Fothergill Group, G. Angeloni S.R.L., GRM Systems Ltd, Plastic Reinforcement Fabric Ltd, Hexcel Corporation, Quantum Composites, Royal Dsm N.V, SGL Group, Solvay
Further key findings from the report suggest:
- The Hybrid Fabric Market is estimated to reach USD 564.8 Million by 2026, at a CAGR of 15.9% during the forecast period.
- The glass/carbon hybrid fabric accounts for the largest share of 36.7% of the market in 2018.
- Carbon/glass fabrics are often used in the manufacturing of spare seatbacks, door panels, tire lining, boot liner, among others. It also shows high draping capacity, making it perfect for automotive manufacturers. Hybrid fabrics made components help in decreasing vehicle weight and hence increases fuel efficiency.
- The composite application segment is anticipated to grow at a higher rate of 15.9% during the forecast period.
- The automotive and transportation end user accounts for the largest share of 27.3% of the market in 2018.
- The European market accounts for the largest market share of 26.2% of the market in 2018 and is expected to provide lucrative growth towards the global market, due to the presence of prominent automotive and aerospace defense equipment manufacturers leading massive demand for hybrid fabrics in the region.
- Various players are developing strategies to mark their presence in the industry.
- Technological advancements and developing policy actions could further improve the value of prospective electric vehicle buyers. Influencing metropolitan EV markets tend to have consumer subventions, public charging infrastructure, and other reasons that would drive the need for electric vehicle manufacturing, further spurring the development of hybrid fabrics industry over the forecasted period. Toyota Prius was the highest-selling hybrid electric vehicle in the U.S. which had sold nearly 1,643,000 units since the year 2000 through April 2016.
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The global Hybrid Fabric market is segmented into:
Type Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
- Glass/Carbon Hybrid Fabric
- Carbon/Uhmwpe Hybrid Fabric
- Glass/Aramid(Kevlar) Hybrid Fabric
- Carbon/Aramid(Kevlar) Hybrid Fabric
Application Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
- Composite Form
- Non-Composite Form
End User Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
- Automotive Transportation
- Aerospace Defense
- Sports Recreational
- Consumer Goods
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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