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Hybrid Composites Market by Fiber Type, Resin, End-Use Industry And Region - Global Forecast to 2023

Hybrid Composites Market: Global Forecast until 2023

  • November 2018
  • 118 pages
  • ID: 5619607
In this report:
North America leads the consumption of hybrid composite in the other end-use industries segment with a market size of ##.## tons in 2018, which is projected to reach ##.## tons by 2023, at a CAGR of ##.##%.
The consumption of hybrid composites in sporting goods segment in North America was ##.##tons in 2017 and is projected to reach ##.## tons by 2023, at a CAGR of ##.##%.

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''The hybrid composites market is expected to record a CAGR (Compound annual growth rate) of 15.00 percent, in terms of value concern, between 2018 and 2023.''

The hybrid composites market size is projected at $436.0M in 2018 and is projected to extend $876.0M by 2023, at a compound annual growth rate (CAGR) of 15.00 percent between 2018 and 2023. Hybrid composites offer different benefits including non-corrosiveness, high stiffness, non-conductivity, flexibility, low maintenance, durability, design flexibility, and cost saving. Due to these properties, hybrid composites are used in several end-use industries including aerospace & defense, transportation, sporting goods, and wind energy. The balance in cost and performance provided by the hybrid composites are top factors driving this sector. Nevertheless, high technology cost combined with the manufacturing of hybrid composites is restraining the increase of this market.

''The thermoset resin segment is estimated to dominate the hybrid composites market, between 2018 and 2023.''

The hybrid composites market is broken down into two based on the resin used, that is, thermoset and thermoplastic resin.Thermoset resins are known for their excellent mechanical, electrical, and heat resistance properties.

They are also available in a wide range of curing-agent variations. Also, these resins have better physical and adhesion properties, and lower shrinkage than the other resins, due to which they account for the biggest share in this industry.

''The automotive & transportation end-use industry segment is forecasted to hold the more considerable market share in the hybrid composites market, between 2018 and 2023.''

Hybrid composites have main applications in the automotive & transportation market.This has helped the automotive & transportation segment to hold the largest part of market share in the overall hybrid composites market in 2018 in terms of value and quantity.

The use of hybrid composites helps in achieving the strong demand for cost-effective and lightweight solutions in the automotive & transportation sector.

''The hybrid composites market in Asia-Pac is expected to record the highest CAGR (Compound annual growth rate), in terms of value significance and quantity, between 2018 and 2023.''

The hybrid composites market in Asia-Pacific is expected to register the highest compound annual growth rate (CAGR) during the outlook period, in terms of value importance and quantity.This increase can be accredited to the growing demand from the automotive & transportation, wind energy, sporting goods, and marine end-use sectors.

The rising focus of the APAC area toward big automotive manufacturing is a main aspect that is helping the hybrid composites market grow in the territory.Europe (EU) maintains the biggest market share in the hybrid composites market.

This biggest share is due to the demand for hybrid composites from the automotive & transportation end-use market in EU.

Comprehensive interviews were managed with Chief Executive Officers, marketing directors, other innovation and technology directors, and executives from numerous main institutions operating in the hybrid composites market.

• By Company category: Tier 1 - 27.0 percent, Tier 2 - 46.0 percent, and Tier 3 - 27.0 percent

• By Description: C-suite - 27.0 percent, D-level - 37.0 percent, and Others - 36.0 percent

• By Area: North America continent - 18.0 percent, Europe (EU) - 37.0 percent, Asia-Pac -27.0 percent, Middle East (ME) & African continent - 9.0 percent, and Latin America area - 9.0 percent

The hybrid composites market comprises main solution providers, including Royal DSM N.V., SGL Group, Gurit, Hexcel Corporation, Teijin Limited, Solvay, General Electric (NYSE:GE), Exel Composites, PlastiComp, Incorporated, Innegra Technologies, Limited liability company, STRUCTeam Ltd., and QUANTUMETA. The report includes an detailed competitive review of these top actors in the hybrid composites market, with their company descriptions, recent evolutions, and key industries strategies.

Segment Research

The market research includes the hybrid composites market.It aims at evaluating the market value and the increase potential of this market, across several segments, including fiber type, resin, end-use sector, and area.

Porter's Five Forces analysis and the top market dynamics, including drivers, industry restraints, opportunities, and possibilities, influencing the industry, have been discussed in the industry report. The study also offers company descriptions and competitive benchmarking of main actors operating in the sector.

Main highlights

The analysis will facilitate the market top players/new sector entrants in this sector with data on the best approximations of the revenue data for the global hybrid composites market and the sub-segments.This industry report will facilitate partners distinguish the competitive landscape and obtain additional insights to better option their businesses and to plan suitable go-to-market approaches.

The market research also benefits partners comprehend the pulse of the sector and offers them with info on main market drivers, market restraints, opportunities, and alternatives.

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