North America Hybrid Composites Market Forecast to 2028

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)

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Description

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.

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At 12.1% CAGR, the North America Hybrid Composites Market is speculated to be worth US$ 342.07 million by 2028, saysthe research team

According tothe research team Market research, the North America hybrid composites market was valued at US$ 193.51 million in 2023 and is expected to reach US$ 342.07 million by 2028, registering a CAGR of 12.1% from 2023 to 2028. Growing demand for lightweight materials in aerospace & defense industry and rising use of hybrid composites in wind energy and automotive industries are the critical factors attributed to the North America hybrid composites market expansion.

Rapid developments in material technology continue to support variations in the structure of wind turbines. Many of these variations were primarily introduced to reduce the prices of turbines. Factors such as corrosion resistance, fatigue resistance, toughness, rigidity, weight, and appearance of wind turbines significantly impact their operations. Glass fiber-reinforced plastics (GRPs) are the most used type of composite material in wind turbine manufacturing. The major benefits of using GRPs include hybrid mechanical properties, high corrosion resistance, high-temperature tolerance, simplified manufacturing, and favorable costs. In 2023, the US Congress announced the launch of coordinated actions to develop new floating offshore wind platforms and clean energy technology. The government aims to deploy offshore wind platforms to generate 30 gigawatts (GW) of energy by 2030, sufficient to power 10 million homes with clean energy; these initiatives support 77,000 jobs and stimulate private investments in the supply chain. Such favorable government initiatives are increasing the demand for hybrid composites in the wind energy industry. Lightweight materials offer excellent potential for increasing vehicle efficiency as their acceleration requires less energy than heavier ones. According to the Office of Energy Efficiency & Renewable Energy, a 10% decrease in vehicle weight can improve fuel economy by 6–8%. Substituting cast iron and traditional steel components with lightweight materials, such as high-strength steel, aluminum (Al) alloys, magnesium (Mg) alloys, carbon fiber, and polymer composites, can reduce the weight of a vehicle body and chassis by up to 50%, thereby reducing the fuel consumption of a vehicle. The application of hybrid composites in the automotive sector is growing at a significant pace. In this sector, plastics are used in large quantities to produce composites. Hybrid composites have excellent acoustic and thermal properties, which makes them ideal for vehicle interior parts. Furthermore, they are suitable for the manufacturing of nonstructural interior components, including seat fillers, seat backs, headliners, interior panels, and dashboards. Therefore, the growing demand for hybrid composites from the automotive industry for the manufacturing of fuel-efficient, lightweight vehicles such as electric vehicles (EVs) is driving the hybrid composites market.

On the contrary, high cost and recyclability issues of hybrid composites hampers the North America hybrid composites market.

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 50.4% share of North America hybrid composites market in 2023, amassing US$ 97.57 million. It is projected to garner US$ 183.66 million by 2028 to expand at 13.5% CAGR during 2023–2028.

Based on resin, the North America hybrid composites market is segmented into thermoset and thermoplastic. The thermoset segment held 53.8% share of North America hybrid composites market in 2023, amassing US$ 104.04 million. It is projected to garner US$ 179.79 million by 2028 to expand at 11.6% CAGR during 2023–2028.

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 33.7% share of North America hybrid composites market in 2023, amassing US$ 65.16 million. It is projected to garner US$ 116.04 million by 2028 to expand at 12.2% CAGR during 2023–2028.

Based on country, the North America hybrid composites market is segmented into the US, Canada, and Mexico. Our regional analysis states that the US captured 75.0% share of North America hybrid composites market in 2023. It was assessed at US$ 145.10 million in 2023 and is likely to hit US$ 253.00 million by 2028, exhibiting a CAGR of 11.8% during the forecast period.

Key players operating in the North America hybrid composites market are 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, among others.

In 2023, Avient Corporation acquired DSM Protective Materials (Dyneema brand) and announced its plan to explore sale option for its Avient Distribution business. In 2023, Lanxess AG launched sustainable product variants to its Tepex brand composite range.

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TABLE OF CONTENTS

1. Introduction
1.1 Study Scope
1.2 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
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)

The List of Companies – North America Hybrid Composites Market

– Avient Corp
– Gurit Holding AG
– Hexcel Corp
– Lanxess AG
– Mitsubishi Chemical Holdings Corp
– PGTEX China Co Ltd
– SGL Carbon SE
– Solvay SA
– Teijin Ltd
– Toray Industries Inc

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