The market size of hybrid composite is expected to grow from USD 436 million in 2018 to USD 876 million by 2023, at a CAGR of 15.0% during the forecast period. The major drivers of the hybrid composites market are balanced cost and performance characteristics offered by these composites.

Europe is estimated to account for the largest share of the market in 2018. The region is considered the most advanced region in terms of technology adoption and infrastructure development. Europe is home to some of the major automotive and aerospace & defense equipment manufacturers, which create demand for hybrid composites in the region. The wide presence of the key industry players offering hybrid composites for automotive & transportation and aerospace & defense is the main driving factor for the growth of the hybrid composites market.

Get PDF Brochure for Research Insights at: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=130364217

The major hybrid composites manufacturers includes Royal DSM N.V. (Netherlands), SGL Group (Germany), Gurit (Switzerland), Hexcel Corporation (US), Teijin Limited (Japan), General Electric (US), Exel Composites (Finland), Innegra Technologies, LLC (US), Solvay (Belgium) and PlastiComp, Inc. (US). These players have adopted various growth strategies, such as mergers & acquisitions, expansions, and new product launches, to further expand their presence in the hybrid composites market. Merger & acquisitions and new product launches have been the most dominating strategies adopted by major players, from 2016 to 2018, which helped them innovate their offerings and broaden their customer base.

In line with the rising demand for hybrid composites, Exel Composites has been working to deliver high-quality hybrid composites to the automotive and other end-use industries. The company focuses on building long-term strategic partnerships with companies that are leaders in the hybrid composites market. This strategy has helped Exel Composites develop new solutions and market them faster. In May 2018, the company acquired Diversified Structural Composites (US), which manufactures hybrid composites using a combination of glass and carbon. The acquisition has helped Exel Composites strengthen its business in North America.

Get the Latest Version of the Report and ahead from Your Competitors: https://www.marketsandmarkets.com/RequestNewVersion.asp?id=130364217

Royal DSM N.V. has secured a strong position in the European market. It is also establishing itself in North America and APAC and is now focusing on the Latin American market. DSM is a strong market player in the hybrid composites market. It has a strong focus on R&D and has, thus, developed a new thermoset hybrid composite. In October 2016, the company has developed a product named Dyneema Carbon hybrid composites. This development has helped the company maintain its market position and provide innovative products to its customers.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their pain points around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 Micro Quadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]