The hybrid fabric market is projected to register a CAGR of 16.0%, in terms of value, between 2019 and 2024
NEW YORK, March 11, 2019 /PRNewswire/ -- "The hybrid fabric market is projected to register a CAGR of 16.0%, in terms of value, between 2019 and 2024.''
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The hybrid fabric market size is estimated at USD 197 million in 2019 and is projected to reach USD 415 million by 2024, at a CAGR of 16.0% between 2019 and 2024. Hybrid fabric offers various benefits such as non-corrosiveness, high stiffness, non-conductivity, flexibility, low maintenance, durability, design flexibility, and cost saving. Owing to these properties, hybrid fabric is used in various end-use industries such as aerospace & defense, automotive & transportation, sporting & recreational, wind energy, and consumer goods. The balance in cost and performance offered by the hybrid fabric is a major factor driving this market. However, high technology cost associated with the manufacturing of hybrid fabric is restraining the growth of this market.
"The composite application form segment is projected to dominate the hybrid fabric market, between 2019 and 2024.''
The hybrid fabric market is segmented into two application forms, namely, composite form and non-composite form.In the composite application form, a resin is used as a matrix with carbon, glass, natural, and aramid hybrid fabric.
For reinforcement material to be used in composites, these reinforcements should possess properties such as high modulus, high strength, high flexibility, high aspect ratio, and higher elasticity. The hybrid fabric is used extensively in the composite application form to cater to the demands of various end-use industries such as aerospace & defense, automotive & transportation, wind energy, and others.
"The automotive & transportation end-use industry segment is projected to hold the highest market share, between 2019 and 2024.''
Hybrid fabric has major applications in the automotive & transportation industry.This has helped the automotive & transportation segment to hold the largest market share in the global hybrid fabric market in 2019, in terms of both value and volume.
The use of hybrid fabric helps in achieving cost-effective and lightweight solutions in the automotive & transportation industry.
"The hybrid fabric market in APAC is projected to register the highest CAGR, in terms of value and volume, between 2019 and 2024.''
The hybrid fabric market in APAC is projected to register the highest CAGR during the forecast period, in terms of value and volume.This growth can be attributed to the increasing demand from the automotive & transportation, wind energy, sports & recreational, and consumer goods end-use industries.
The increasing focus toward large automotive manufacturing is a key factor that is helping the market grow in the region.Europe holds the largest market share in the hybrid fabric market.
This largest share is due to the demand for hybrid fabric from the automotive & transportation end-use industry in Europe.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the hybrid composites market.
• By Company Type: Tier 1 - 37%, Tier 2 - 42%, and Tier 3 - 21%
• By Designation: C level - 30%, Director level - 25%, and Others - 45%
• By Region: Europe - 40%, APAC -27%, North America - 20%, Latin America - 7%, and MEA - 6%
The hybrid fabric market comprises major solution providers, such as Royal DSM N.V. (Netherlands), SGL Group (Germany), Gurit (Switzerland), Hexcel Corporation (US), Exel Composites (Finland), Solvay (Belgium), Textum Inc. (US), BGF Industries, Inc. (US), HACOTECH GmbH (Germany), and Arrow Technical Textiles Pvt. Ltd. (India). The study includes an in-depth competitive analysis of these key players in the hybrid fabric market, with their company profiles, recent developments, and key market strategies.
Research Coverage
The study covers the hybrid fabric market.It aims at estimating the market size and the growth potential of this market, across different segments, such as fiber type, application form, end-use industry, and region.
Porter's Five Forces analysis and the market dynamics, such as drivers, restraints, challenges, and opportunities, influencing the market, have been discussed in the report. The report also provides company profiles and competitive benchmarking of major players operating in the market.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall hybrid fabric market and the subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
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