According to the research report titled ‘Global Hybrid Fabrics Market Size study, by Fiber (Glass/Carbon, Carbon/Uhmwpe, Glass/Aramid, Carbon/Aramid), Application Form (Composite and Non-Composite), End-use Industry (Automotive & Transportation, Aerospace & Defense, Wind Energy) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global hybrid fabrics market was valued at approximately USD 228.93 billion in 2020 and is anticipated to reach 647 million by the end of the forecast timeframe 2021-2027, registering a steady CAGR of more than 16% throughout.
 

As per the findings of the report, surging demand for textiles in automotive & transportation, wind energy industries, and sports & leisure industries serves as a major propeller for worldwide hybrid fabrics market growth. Benefits such as economical price and efficiency primarily fuel the product demand.
 

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Notably, hybrid fabrics have the ability to minimize product weight and possess resilience, leading to high product demand especially in sports equipment. Adoption of hybrid textiles for several applications, as well as the demand of these fabrics in emerging economies is set to fuel the market growth.
 

Experts cite that expensive nature of carbon/aramid and lack of low-cost alternatives such as carbon/glass or glass/aramid will limit market progress between 2021-2027. However, rising raw material costs are causing producers to switch to natural substitutes like cotton, wool, and polyester fabrics which are cost-effective and widely available.
 

From a regional perspective, as per the report, global hybrid fabrics market size is fragmented into North America (U.S., Canada), Europe (UK, Germany, Spain, France, Italy, Rest of Europe), Asia Pacific (Japan, China, South Korea, India, Rest of APAC), and Latin America (Mexico and Brazil).
 

Europe holds the world's largest market share due to the presence of prominent companies such as DSM, Solvay SA, SGL Group, Kordcarbon AS, and Gurit Holding AG. Meanwhile, Asia-Pacific is likely to grow rapidly over the analysis period owing to customer rising inclination towards lightweight, high-strength fabrics for automotive applications.

Considering the competitive landscape, Arrow Technical Textiles Pvt. Ltd., Hacotech GmbH, BGF Industries Inc., Textum Weaving Inc., Solvay SA, Exel Composites Oyj, Hexcel Corp., Gurit Holding, SGL Carbon SE, and Koninklijke DSM NV are among the major companies influencing the global hybrid fabrics market trends.