New York, Sept. 04, 2019 (GLOBE NEWSWIRE) -- The growth of the market is governed by various factors such as growing demand from automotive industries and stringent government regulations
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.
Hybrid fabrics are distinguished mainly from other fabrics based on specific technical functions that need particular performance characteristics such as high durability and stability and exceptional resistance to flames, heat, and chemical agents. Hybrid fabric offers several benefits such as high stiffness, non-corrosiveness, flexibility, design flexibility, non-conductivity, low maintenance, strength, and cost-saving. Due to these features, the hybrid fabric is used in several end-use industries such as automotive & transportation, aerospace & defense, sporting & wind energy, recreational, and consumer goods. The balance in cost and performance provided by the hybrid fabric is a significant factor propelling this market.
APAC is anticipated to witness the highest rate of 17.1% during the forecast period. This growth is due to the growing demand from wind energy, automotive & transportation, sports & recreational, and consumer goods end-use enterprises. The ever increasing focus toward large automotive manufacturing is a critical factor leading to the growth of the market in this region.
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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.
- The Key players in the Hybrid Fabric Market include 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
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Segments covered in the report:
For the purpose of this study, Reports and Data have segmented the market on the basis of Type, Application, End User, and region:
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
- Others
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
- Others
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Regional Outlook (Volume, Square Meters; and Revenue, USD Million; 2016-2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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