At 12.5% CAGR, the Europe Hybrid Composites Market is projected to be worth US$ 540.72 million by 2028, says Business Market Insights

According to Business Market Insights research, the Europe hybrid composites market was valued at US$ 300.08 million in 2023 and is expected to reach US$ 540.72 million by 2028, registering a CAGR of 12.5% 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 Europe hybrid composites market expansion.

Nanocomposites are materials that incorporate nanosized particles into a matrix of standard material. To overcome the limitation of different engineering materials, nanocomposites act as a beneficial alternative. Nanocomposites can be classified based on their dispersed matrix and dispersed phase materials. Polymeric nanocomposites are materials incorporating nanosized inclusions into the polymer matrices. They exhibit excellent mechanical properties, flame retardancy, enhanced modulus and dimensional stability, improved scratch resistance, superior thermal and processing properties, reduced warpage of components, and enhanced impact resistance, making them suitable to replace metals in various industrial applications. These nanocomposites are widely used in medical, electronics, automotive, food packaging, and sport equipment applications. They are also used in aeronautics and spaceflight due to their ability to withstand tension and extreme temperatures. The growing research and development is also increasing the applications of nanocomposites. In August 2020, Sheffield Hallam University (UK), in collaboration with AIM Altitude—an aerospace company—developed a nanocomposite suitable for aircraft interiors based on poly (furfuryl alcohol) (PFA), which has been developed using renewable and bio-based sources. Hence, the rising demand for nanocomposites and associated research and development activities are expected to offer lucrative opportunities for the Europe hybrid composites market growth during the forecast period.

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

Based on fiber type, the Europe 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 48.1% share of Europe hybrid composites market in 2023, amassing US$ 144.44 million. It is projected to garner US$ 278.84 million by 2028 to expand at 14.1% CAGR during 2023–2028.

Based on resin, the Europe hybrid composites market is segmented into thermoset and thermoplastic. The thermoset segment held 51.0% share of Europe hybrid composites market in 2023, amassing US$ 153.17 million. It is projected to garner US$ 266.89 million by 2028 to expand at 11.7% CAGR during 2023–2028.

Based on application, the Europe hybrid composites market is segmented into automotive, aerospace, marine, wind energy, sporting goods, and others. The automotive segment held 30.5% share of Europe hybrid composites market in 2023, amassing US$ 91.41 million. It is projected to garner US$ 165.96 million by 2028 to expand at 12.7% CAGR during 2023–2028.

Based on country, the Europe hybrid composites market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that Germany captured 28.2% share of Europe hybrid composites market in 2023. It was assessed at US$ 84.59 million in 2023 and is likely to hit US$ 151.05 million by 2028, exhibiting a CAGR of 12.3% during the forecast period.      

Key players operating in the Europe hybrid composites market are Avient Corp, Gurit Holding AG, Hexcel Corp, Lanxess AG, Mitsubishi Chemical Holdings Corp, 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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