Tooling Market for the Composites Industry is Likely to Reach US$ 1,558.7 million Over the Next Five Years

Stratview Research has launched a new research report on Tooling Market for the Composites Industry report segments the market in five ways to provide a 360-degree holistic view.
The forecast of the market has been segmented by-
• by End-Use Industry Type: (Aerospace & Defense, Wind Energy and Others),
• By Material Type: (Invar, Aluminum and Others),
• by Usage Type: (Prototype and Serial Production),
• Region
o North America
o Europe
o Asia – Pacific
o Rest of the World

The objective of this report is to identify the Trend, Forecast, Competitive Analysis, and Growth Opportunity of Tooling Market for the Composites Industry.
Years considered for this report -
• base year 2018
• trend period 2012 – 2017
• forecast period 2018 - 2023

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The Global Tooling Market for the Composites Industry: Highlights
The global 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.

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.

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.

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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.

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.

Report Features
This 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:
• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors.

Research Methodology
This report studies the market, keeping in mind the interest of all the stakeholders across the value chain. The rich quality of insights is outcome of -
• Extensive secondary research,
• Rigorous primary interviews with more than 10 industry stakeholders across the value chain.
• Validation and triangulation of data with Stratview Research’s internal database and statistical tools.
• More than 1000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data.

Stratview Research has several high value market reports in the chemicals and materials industry. Please refer to the following link to browse through our reports:
Click Here for Other Reports from Stratview Research in the Chemicals & Materials Industry: https://www.stratviewresearch.com/market-reports/Advanced-Materials.html

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This release was published on openPR.