MarketsandMarkets™ Study- What is the Future Market Value for Hybrid Composites Industry?
Verfasser: ashwani_kailiya on Wednesday, 22 June 2022The hybrid composites market is expected to grow from USD 436 million in 2018 to USD 876 million by 2023, at a compound annual growth rate (CAGR) of 15.0% during the forecast period. The report "global Hybrid Composites Market by Fiber Type, Resin (Thermoset and Thermoplastic), End-Use Industry (Automotive & Transportation, Aerospace & Defense, Wind Energy, Marine, Sporting Goods), and Region - Global Forecast to 2023", The major factor driving the market is balanced cost and performance characteristics offered by hybrid composites. Hybrid composites offer properties comparable with carbon fiber such as high strength, low weight, and increased resistance to corrosion, but with the lesser price than carbon fiber composites.
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Carbon/glass and glass/carbon hybrid fiber composites accounted for the largest share of the global hybrid composites market
Carbon/glass fiber hybrid composite parts are lighter and stronger than their metal counterparts, due to which, they are extensively used in many industries, including automotive & transportation and wind energy. Carbon/glass hybrid fiber composites are used in high-end vehicles to reduce the overall cost.