Tooling Market for the Composites Industry to reach US$ 1,558.7 million during the coming years (2018-2023)

Addressing the most sought-after questions that occupy the minds of entrepreneurs and decision makers, the new report of "Stratview Research" on the Tooling Market for the Composites Industry, answers all the important questions.

Getting to the bare bones of the issues and factors which are sculpturing the market, Stratview Research brings out the best actionable market intelligence for the global Tooling Market for the Composites Industry.

The analysts have scrupulously studied the trend and cautiously forecasted the future market developments for 2018-2023.
The important questions the report answers are:
1. What will be the market growth rate in the near future?
2. What are the major developments in the market wrt regulations, acquisitions and innovations?
3. What are the growth drivers as well as the constraints?
4. What are the regional growth hotspots?
5. What are the segmental growth forecasts?

These questions and many more, big and small, are all discussed in the report in great detail.

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.

The strategic Market dissection
The dissection of the market is done to enlighten the aspects which are of interest to firms across the value chain.

Dissection by Segments
• 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
• by Region : North America, Europe, Asia-Pacific, and RoW

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Market Segments
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.
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.
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.

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.

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This release was published on openPR.