According to the recent study the composites materials in tooling market is projected to grow at a CAGR of 3.4% from 2020 to 2025. Growth in this market is primarily driven by increase in demand for light weight tools, decrease in lead time for part manufacturing, and increasing penetration of composite tooling in various end use industries.
Browse 82 figures / charts and 58 tables in this 150 -page report to understand trends, opportunities and forecast in composites materials in tooling market by application (transportation, marine, wind energy, aerospace, construction, consumer goods, and others), raw material (glass fiber, carbon fiber, epoxy, BMI, and others), material form (fabric and prepreg), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Glass fiber market is expected to remain the largest segment during the forecast period.”
Based on raw material type, the composites materials in tooling market is segmented into glass fiber, carbon fiber, epoxy, BMI, and others. Lucintel forecasts that the glass fiber market is expected to remain the largest segment and is expected to experience the highest growth during the forecast period.
“Within the composites materials in tooling market, the wind energy segment is expected to remain the largest application.”
Based on application the wind energy segment is expected to witness the largest application growth over the forecast period due to increasing wind MW installation in US and Asia Pacific region and increase in length of blade. Composite tools for aerospace application are expected to witness the highest growth over the forecast period. Composite tools provide lightweight, dimensionally accurate, and affordable tooling for various applications in aerospace, such as primary and secondary structure.
“North America will dominate the Composites materials in tooling market in near future.”
North America is expected to be the largest region with the highest growth over the forecast period due to growth in wind energy, aerospace, and marine industry.
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Major players of composites materials in tooling market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Gurit, Solvey cytec, Hexcel Corporation, Airtech Advanced Materials Group, and Toray and other are among the major Composites materials in tooling providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/composites-tooling-market.aspx or helpdesk@lucintel.com.
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