Tooling Market to Reach US$ 1,558.7 million in 2023

Stratview Research has published a new research report on Tooling Market. This extensive report by Stratview Research analyses the growth of Tooling Market over the trend period of 2012 to 2017 and forecast period of 2018 to 2023 under the following segments -
· by End-Use Industry Type (Aerospace & Defense, Wind Energy, Marine, Transportation, Construction and Others),
· by Application Type (Invar, Aluminum, Other Metals, Tooling Prepreg, Infusion,and Others),
· by Usage Type (Unidirectional and Fabrics),and
· by Region (North America, Europe, Asia-Pacific, and Rest of the World)

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Tooling Market for the Composites Industry: Highlights & Drivers
The tooling market for the composites industry is likely to offer attractive growth opportunities over the next five years to reach an estimated value of US$ 1,558.7 million in 2023. Increasing penetration of composite materials, especially in the aerospace & defense and transportation industries with the purpose to enhance fuel efficiency and to reduce carbon emissions and an advancement in composite technologies, such as high-pressure resin transfer molding are the primary growth drivers of the market.

Tooling prepreg is expected to remain the largest material segment
Based on the material type, the global tooling market for the composites industry is segmented as Invar, Aluminum, Tooling Prepreg, Infusion, Other Metals, and Other Materials. Tooling prepreg is expected to remain the largest material segment of the tooling market for the composites industry over the next five years. The material type (tooling prepreg) is also projected to witness the highest growth for the same period, propelled by increasing usage in high-growth markets, owing to its excellent coefficient of thermal expansion property.
Aerospace & Defense is projected to remain the largest segment
Based on the end-use industry type, Aerospace & Defense is projected to remain the largest segment of the tooling market in the composites industry during the forecast period of 2018 to 2023. Increasing production rates of composites rich aircraft, such as B787 and A350XWB; an advancement in composite technologies, such as AFP and ATL; and increasing usage of resin transfer molding process in fabricating aero-engine components are the key growth drivers of segment’s market. The transportation industry is likely to exhibit the highest growth for the same period, driven by an increasing penetration of composites in the electric and premium vehicles to enhance the fuel efficiency or to curb the carbon emissions in order to meet the stringent government regulations, such as CAFÉ standards.
North America is estimated to remain the largest tooling market
Based on the regions, North America is estimated to remain the largest tooling market for the composites industry. The region is the manufacturing capital of the aerospace & defense industry with the presence of several small- to large-sized composite part manufacturers. There is also a healthy demand for tooling products from other end-use industries, such as transportation, marine, and wind energy in the region. Asia-Pacific is likely to grow at the highest rate for the same period, driven by growing composites industry. China and India are the growth engines of the Asia-Pacific’s market.

Top Key players
AIP Aerospace Inc, Airtech Advanced Materials Group, Gurit Holding AG, Hexcel Corporation, Kaman Aerosystems, and Janicki Industries are the major tooling manufacturers for the composite applications. New product development and long-term contracts with customers are the key strategies adopted by major tooling product manufacturers to gain a competitive edge in the market.
Why Stratview Research
Our report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
● Tooling Market overview, industry life cycle analysis, supply chain analysis
● Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
● Market trend (2012 – 2017) and forecast analysis (2018-2023) of each segment.
● Competitors’ market share, product portfolio and new launches.
● Growth opportunities in each segment.
● Emerging trends which will decide the future course of development.
● Strategic growth opportunities for the existing and new players
● Key success factors.

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This release was published on openPR.