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North America Hybrid Composites Market Forecast to 2028 - Regional Analysis - by Fiber Type (Carbon/Aramid, Carbon/Glass, High-Modulus Polypropylene (HMPP)/Carbon, Ultra High Molecular Weight Polyethylene (UHMWPE)/ Carbon, and Others), Resin (Thermoset and Thermoplastic), and Application (Automotive, Aerospace, Marine, Wind Energy, Sporting Goods, and Others)

October 2023 | 144 pages | ID: N8C0110392DAEN
The Insight Partners

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The North America hybrid composites market is expected to grow from US$ 193.51 million in 2023 to US$ 342.07 million by 2028. It is estimated to grow at a CAGR of 12.1% from 2023 to 2028.

Growing Demand for Lightweight Materials in Aerospace & Defense Industry Fuels North America Hybrid Composites Market

Hybrid composites are crucial for the safety and efficient performance of modern aircraft. The increasing need for lightweight materials to construct aviation components and parts has significantly increased the demand for hybrid composites. Aircraft manufacturers are making efforts to develop huge primary thermoplastic structures in business jets and commercial aircraft. They were the early adopters of long fiber-reinforced thermoplastics. Materials such as composites and polymers are significantly lighter than steel, brass, alloys, iron, etc. The use of these materials allows manufacturers to lower the weight of airplane parts, subsequently facilitating fuel cost reductions.

North America Hybrid Composites Market Overview

The North America hybrid composites market is segmented into the US, Canada, and Mexico. The rising demand for hybrid composites, especially across the aerospace industry in the region, is significantly driving the market growth. Composites are significantly used in aerospace applications to fabricate aircraft parts such as wing spars, interiors, fuselage, and radomes. The lightweight property of hybrid composite can increase fuel efficiency, resulting in reduced fuel costs and increased speed and maneuverability. According to the Federal Aviation Administration (FAA), in 2020, the number of aircraft in the US commercial fleet amounted to 5,882, registering a decline rate of 22.9% compared to 2019. However, the commercial fleet is projected to reach 8,756 by 2041, with an average annual growth rate of 2% annually. This is expected to boost the demand for hybrid composites for multiple applications within the aerospace industry. However, with increasing environmental concerns, aircraft manufacturers are looking for sustainability in composites and investing more in natural composites. The region is a hub for major aircraft manufacturing companies such as Raytheon Technologies Corporation, Boeing Company, and Lockheed Martin Corporation.

North America Hybrid Composites Market Revenue and Forecast to 2028 (US$ Million)

North America Hybrid Composites Market Segmentation

The North America hybrid composites market is segmented into fiber type, resin, application, and country.

Based on fiber type, the North America hybrid composites market is segmented into carbon/aramid, carbon/glass, high-modulus polypropylene (HMPP)/carbon, ultra high molecular weight polyethylene (UHMWPE)/ carbon, and others. The carbon/aramid segment held the largest share of the North America hybrid composites market in 2023.

Based on resin, the North America hybrid composites market is segmented into thermoset and thermoplastic. The thermoset segment held a larger share of the North America hybrid composites market in 2023.

Based on application, the North America hybrid composites market is segmented into automotive, aerospace, marine, wind energy, sporting goods, and others. The automotive segment held the largest share of the North America hybrid composites market in 2023.

Based on country, the North America hybrid composites market is segmented into the US, Canada, and Mexico. The US dominated the North America hybrid composites market in 2023.

Avient Corp, Gurit Holding AG, Hexcel Corp, Lanxess AG, Mitsubishi Chemical Holdings Corp, PGTEX China Co Ltd, SGL Carbon SE, Solvay SA, Teijin Ltd, and Toray Industries Inc are some of the leading companies operating in the North America hybrid composites market.
1. INTRODUCTION

1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
  1.3.1 North America Hybrid Composites Market , by Fiber Type
  1.3.2 North America Hybrid Composites Market , by Resin
  1.3.3 North America Hybrid Composites Market , by Application
  1.3.4 North America Hybrid Composites Market , by Country

2. KEY TAKEAWAYS


3. RESEARCH METHODOLOGY

3.1 Scope of the Study
3.2 Research Methodology
  3.2.1 Data Collection:
  3.2.2 Primary Interviews:
  3.2.3 Hypothesis formulation:
  3.2.4 Macro-economic factor analysis:
  3.2.5 Developing base number:
  3.2.6 Data Triangulation:
  3.2.7 Country level data:

4. NORTH AMERICA HYBRID COMPOSITES MARKET LANDSCAPE

4.1 Market Overview
4.2 Porter's Five Forces Analysis
  4.2.1 Threat of New Entrants:
  4.2.2 Bargaining Power of Buyers:
  4.2.3 Bargaining Power of Suppliers:
  4.2.4 Competitive Rivalry:
  4.2.5 Threat of Substitutes:
4.3 Ecosystem Analysis
4.4 Expert Opinions

5. NORTH AMERICA HYBRID COMPOSITES MARKET – KEY MARKET DYNAMICS

5.1 Market Drivers
  5.1.1 Growing Demand for Lightweight Materials in Aerospace & Defense Industry
  5.1.2 Rising Use of Hybrid Composites in Wind Energy and Automotive Industries
5.2 Market Restraints
  5.2.1 High Cost and Recyclability Issues of Hybrid Composites
5.3 Market Opportunities
  5.3.1 Increasing Demand for Nanocomposites
5.4 Future Trends
  5.4.1 Rise in Adoption of Biocomposites
5.5 Impact Analysis

6. HYBRID COMPOSITES –NORTH AMERICA MARKET ANALYSIS

6.1 North America Hybrid Composites Market Overview
6.2 North America Hybrid Composites Market –Volume and Forecast to 2028 (Kilo Tons)
6.3 North America Hybrid Composites Market –Revenue and Forecast to 2028 (US$ Million)

7. NORTH AMERICA HYBRID COMPOSITES MARKET ANALYSIS – BY FIBER TYPE

7.1 Overview
7.2 North America Hybrid Composites Market, By Fiber Type (2022 and 2028)
7.3 Carbon/Aramid
  7.3.1 Overview
  7.3.2 Carbon/Aramid: North America Hybrid Composites Market – Revenue and Forecast to 2028 (US$ Million)
  7.3.3 Carbon/Aramid: North America Hybrid Composites Market – Volume and Forecast to 2028 (Kilo Tons)
7.4 Carbon/Glass
  7.4.1 Overview
  7.4.2 Carbon/Glass: North America Hybrid Composites Market – Revenue and Forecast to 2028 (US$ Million)
  7.4.3 Carbon/Glass: North America Hybrid Composites Market – Volume and Forecast to 2028 (Kilo Tons)
7.5 High-Modulus Polypropylene (HMPP)/Carbon
  7.5.1 Overview
  7.5.2 High-Modulus Polypropylene (HMPP)/Carbon: North America Hybrid Composites Market – Revenue and Forecast to 2028 (US$ Million)
  7.5.3 High-Modulus Polypropylene (HMPP)/Carbon: North America Hybrid Composites Market – Volume and Forecast to 2028 (Kilo Tons)
7.6 Ultra High Molecular Weight Polyethylene (UHMWPE)/ Carbon
  7.6.1 Overview
  7.6.2 Ultra High Molecular Weight Polyethylene (UHMWPE)/ Carbon: North America Hybrid Composites Market – Revenue and Forecast to 2028 (US$ Million)
  7.6.3 Ultra High Molecular Weight Polyethylene (UHMWPE)/ Carbon: North America Hybrid Composites Market – Volume and Forecast to 2028 (Kilo Tons)
7.7 Others
  7.7.1 Overview
  7.7.2 Others: North America Hybrid Composites Market – Revenue and Forecast to 2028 (US$ Million)
  7.7.3 Others: North America Hybrid Composites Market – Volume and Forecast to 2028 (Kilo Tons)

8. NORTH AMERICA HYBRID COMPOSITES MARKET ANALYSIS – BY RESIN

8.1 Overview
8.2 North America Hybrid Composites Market, By Resin(2022 and 2028)
8.3 Thermoset
  8.3.1 Overview
  8.3.2 Thermoset: North America Hybrid Composites Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Thermoplastic
  8.4.1 Overview
  8.4.2 Thermoplastic: North America Hybrid Composites Market – Revenue and Forecast to 2028 (US$ Million)

9. NORTH AMERICA HYBRID COMPOSITES MARKET ANALYSIS – BY APPLICATION

9.1 Overview
9.2 North America Hybrid Composites Market, By Application (2022 and 2028)
9.3 Automotive
  9.3.1 Overview
  9.3.2 Automotive: North America Hybrid Composites Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Aerospace
  9.4.1 Overview
  9.4.2 Aerospace: North America Hybrid Composites Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Marine
  9.5.1 Overview
  9.5.2 Marine: North America Hybrid Composites Market – Revenue and Forecast to 2028 (US$ Million)
9.6 Wind Energy
  9.6.1 Overview
  9.6.2 Wind Energy: North America Hybrid Composites Market – Revenue and Forecast to 2028 (US$ Million)
9.7 Sporting Goods
  9.7.1 Overview
  9.7.2 Sporting Goods: North America Hybrid Composites Market– Revenue and Forecast to 2028 (US$ Million)
9.8 Others
  9.8.1 Overview
  9.8.2 Others: North America Hybrid Composites Market – Revenue and Forecast to 2028 (US$ Million)

10. NORTH AMERICA HYBRID COMPOSITES MARKET – COUNTRY ANALYSIS

10.1 Overview
  10.1.1 North America Hybrid Composites Market, by Key Country
    10.1.1.1 US: North America Hybrid Composites Market –Revenue and Forecast to 2028 (US$ Million)
    10.1.1.2 US: North America Hybrid Composites Market –Volume and Forecast to 2028 (Kilo Tons)
      10.1.1.2.1 US: North America Hybrid Composites Market, by Fiber Type
      10.1.1.2.2 US: North America Hybrid Composites Market, by Fiber Type
      10.1.1.2.3 US: North America Hybrid Composites Market, by Resin
      10.1.1.2.4 US: North America Hybrid Composites Market, by Application
    10.1.1.3 Canada: North America Hybrid Composites Market–Revenue and Forecast to 2028 (US$ Million)
    10.1.1.4 Canada: North America Hybrid Composites Market–Volume and Forecast to 2028 (Kilo Tons)
      10.1.1.4.1 Canada: North America Hybrid Composites Market, by Fiber Type
      10.1.1.4.2 Canada: North America Hybrid Composites Market, by Fiber Type
      10.1.1.4.3 Canada: North America Hybrid Composites Market, by Resin
      10.1.1.4.4 Canada: North America Hybrid Composites Market, by Application
    10.1.1.5 Mexico: North America Hybrid Composites Market–Revenue and Forecast to 2028 (US$ Million)
    10.1.1.6 Mexico: North America Hybrid Composites Market–Volume and Forecast to 2028 (Kilo Tons)
      10.1.1.6.1 Mexico: North America Hybrid Composites Market, by Fiber Type
      10.1.1.6.2 Mexico: North America Hybrid Composites Market, by Fiber Type
      10.1.1.6.3 Mexico: North America Hybrid Composites Market, by Resin
      10.1.1.6.4 Mexico: North America Hybrid Composites Market, by Application

11. HYBRID COMPOSITE MARKET INDUSTRY LANDSCAPE

11.1 Overview
11.2 Product Launch
11.3 Merger and Acquisitions
11.4 Partnerships
11.5 Expansion

12. COMPANY PROFILES

12.1 Hexcel Corp
  12.1.1 Key Facts
  12.1.2 Business Description
  12.1.3 Products and Services
  12.1.4 Financial Overview
  12.1.5 SWOT Analysis
  12.1.6 Key Developments
12.2 Lanxess AG
  12.2.1 Key Facts
  12.2.2 Business Description
  12.2.3 Products and Services
  12.2.4 Financial Overview
  12.2.5 SWOT Analysis
  12.2.6 Key Developments
12.3 SGL Carbon SE
  12.3.1 Key Facts
  12.3.2 Business Description
  12.3.3 Products and Services
  12.3.4 Financial Overview
  12.3.5 SWOT Analysis
  12.3.6 Key Developments
12.4 Gurit Holding AG
  12.4.1 Key Facts
  12.4.2 Business Description
  12.4.3 Products and Services
  12.4.4 Financial Overview
  12.4.5 SWOT Analysis
  12.4.6 Key Developments
12.5 Avient Corp
  12.5.1 Key Facts
  12.5.2 Business Description
  12.5.3 Products and Services
  12.5.4 Financial Overview
  12.5.5 SWOT Analysis
  12.5.6 Key Developments
12.6 Teijin Ltd
  12.6.1 Key Facts
  12.6.2 Business Description
  12.6.3 Products and Services
  12.6.4 Financial Overview
  12.6.5 SWOT Analysis
  12.6.6 Key Developments
12.7 Solvay SA
  12.7.1 Key Facts
  12.7.2 Business Description
  12.7.3 Products and Services
  12.7.4 Financial Overview
  12.7.5 SWOT Analysis
  12.7.6 Key Developments
12.8 PGTEX China Co Ltd
  12.8.1 Key Facts
  12.8.2 Business Description
  12.8.3 Products and Services
  12.8.4 Financial Overview
  12.8.5 SWOT Analysis
  12.8.6 Key Developments
12.9 Toray Industries Inc
  12.9.1 Key Facts
  12.9.2 Business Description
  12.9.3 Products and Services
  12.9.4 Financial Overview
  12.9.5 SWOT Analysis
  12.9.6 Key Developments
12.10 Mitsubishi Chemical Holdings Corp
  12.10.1 Key Facts
  12.10.2 Business Description
  12.10.3 Products and Services
  12.10.4 Financial Overview
  12.10.5 SWOT Analysis
  12.10.6 Key Developments

13. APPENDIX

13.1 About The Insight Partners
13.2 Glossary of Terms

LIST OF TABLES

Table 1. North America Hybrid Composites Market –Volume and Forecast to 2028 (Kilo Tons)
Table 2. North America Hybrid Composites Market –Revenue and Forecast to 2028 (US$ Million)
Table 3. US: North America Hybrid Composites Market, by Fiber Type – Revenue and Forecast to 2028 (US$ Million)
Table 4. US: North America Hybrid Composites Market, by Fiber Type – Volume and Forecast to 2028 (Kilo Tons)
Table 5. US: North America Hybrid Composites Market, by Resin– Revenue and Forecast to 2028 (US$ Million)
Table 6. US: North America Hybrid Composites Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 7. Canada: North America Hybrid Composites Market, by Fiber Type – Revenue and Forecast to 2028 (US$ Million)
Table 8. Canada: North America Hybrid Composites Market, by Fiber Type – Volume and Forecast to 2028 (Kilo Tons)
Table 9. Canada: North America Hybrid Composites Market, by Resin– Revenue and Forecast to 2028 (US$ Million)
Table 10. Canada: North America Hybrid Composites Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 11. Mexico: North America Hybrid Composites Market, by Fiber Type – Revenue and Forecast to 2028 (US$ Million)
Table 12. Mexico: North America Hybrid Composites Market, by Fiber Type – Volume and Forecast to 2028 (Kilo Tons)
Table 13. Mexico: North America Hybrid Composites Market, by Resin– Revenue and Forecast to 2028 (US$ Million)
Table 14. Mexico: North America Hybrid Composites Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 15. Glossary of Terms, North America Hybrid Composites Market


LIST OF FIGURES


Figure 1. North America Hybrid Composites Market Segmentation
Figure 2. North America Hybrid Composites Market Segmentation – By Country
Figure 3. North America Hybrid Composites Market Overview
Figure 4. North America Hybrid Composites Market , By Resin
Figure 5. North America Hybrid Composites Market , by Country
Figure 6. Porter's Five Forces Analysis
Figure 7. Ecosystem: North America Hybrid Composites Market
Figure 8. Expert Opinions
Figure 9. North America Hybrid Composites Market Impact Analysis of Drivers and Restraints
Figure 10. North America Hybrid Composites Market – Volume and Forecast to 2028 (Kilo Tons)
Figure 11. North America Hybrid Composites Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. North America Hybrid Composites Market Revenue Share, By Fiber Type (2022 and 2028)
Figure 13. Carbon/Aramid: North America Hybrid Composites Market – Revenue and Forecast To 2028 (US$ Million)
Figure 14. Carbon/Aramid: North America Hybrid Composites Market – Volume and Forecast To 2028 (Kilo Tons)
Figure 15. Carbon/Glass: North America Hybrid Composites Market – Revenue and Forecast To 2028 (US$ Million)
Figure 16. Carbon/Glass: North America Hybrid Composites Market – Volume and Forecast To 2028 (Kilo Tons)
Figure 17. High-Modulus Polypropylene (HMPP)/Carbon: North America Hybrid Composites Market – Revenue and Forecast To 2028 (US$ Million)
Figure 18. High-Modulus Polypropylene (HMPP)/Carbon: North America Hybrid Composites Market – Revenue and Forecast To 2028 (Kilo Tons)
Figure 19. Ultra High Molecular Weight Polyethylene (UHMWPE)/ Carbon: North America Hybrid Composites Market – Revenue and Forecast To 2028 (US$ Million)
Figure 20. Ultra High Molecular Weight Polyethylene (UHMWPE)/ Carbon: North America Hybrid Composites Market – Revenue and Forecast To 2028 (Kilo Tons)
Figure 21. Others: North America Hybrid Composites Market – Revenue and Forecast To 2028 (US$ Million)
Figure 22. Others: North America Hybrid Composites Market – Volume and Forecast To 2028 (US$ Mn)
Figure 23. North America Hybrid Composites Market Revenue Share, By Resin (2022 and 2028)
Figure 24. Thermoset: North America Hybrid Composites Market – Revenue and Forecast To 2028 (US$ Million)
Figure 25. Thermoplastic: North America Hybrid Composites Market – Revenue and Forecast To 2028 (US$ Million)
Figure 26. North America Hybrid Composites Market Revenue Share, By Application (2022 and 2028)
Figure 27. Automotive: North America Hybrid Composites Market – Revenue and Forecast To 2028 (US$ Million)
Figure 28. Aerospace: North America Hybrid Composites Market – Revenue and Forecast To 2028 (US$ Million)
Figure 29. Marine: North America Hybrid Composites Market – Revenue and Forecast To 2028 (US$ Million)
Figure 30. Wind Energy: North America Hybrid Composites Market – Revenue and Forecast To 2028 (US$ Million)
Figure 31. Sporting Goods: North America Hybrid Composites Market– Revenue and Forecast To 2028 (US$ Million)
Figure 32. Others: North America Hybrid Composites Market – Revenue and Forecast To 2028 (US$ Million)
Figure 33. North America Hybrid Composites Market, by Key Country– Revenue (2022) (US$ Million)
Figure 34. North America Hybrid Composites Market Revenue Share, by Key Country (2022 and 2028)
Figure 35. US: North America Hybrid Composites Market –Revenue and Forecast to 2028 (US$ Million)
Figure 36. US: North America Hybrid Composites Market –Volume and Forecast to 2028 (Kilo Tons)
Figure 37. Canada: North America Hybrid Composites Market–Revenue and Forecast to 2028 (US$ Million)
Figure 38. Canada: North America Hybrid Composites Market–Volume and Forecast to 2028 (Kilo Tons)
Figure 39. Mexico: North America Hybrid Composites Market–Revenue and Forecast to 2028 (US$ Million)
Figure 40. Mexico: North America Hybrid Composites Market–Volume and Forecast to 2028 (Kilo Tons)


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