Lucintel Blog: Lucintel Forecasts Composite Materials in the Global Tooling Market to Reach $509.1 Million by 2027

Monday, October 30, 2023

Lucintel Forecasts Composite Materials in the Global Tooling Market to Reach $509.1 Million by 2027

According to the recent study the Composite Materials in the Global Tooling Market is projected to reach an estimated $509.1 million by 2027 from $250.1 million in 2021, at a CAGR of 12.6% from 2021 to 2027. 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 83 figures/charts and 57 tables in this 137-page report to understand trends, opportunities and forecast in composite materials in the global 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).

Download sample report by clicking on below link:

https://www.lucintel.com/composite-materials-in-tooling-market.aspx

“Wind energy market is expected to remain the largest segment during the forecast period.”

Based on application, the composite materials in the global tooling market is segmented into transportation, marine, wind energy, aerospace, construction, consumer goods, and others. Lucintel forecasts that the wind energy market is expected to remain the largest segment due to increasing wind MW installation in US and Asia Pacific region and increase in length of blade.

“Within the composite materials in the global tooling market, the glass Fiber segment is expected to remain the largest raw material.”

Based on raw material the glass Fiber segment is expected to witness the highest growth over the forecast period.

“North America will dominate the composite materials in the global tooling market in near future.”

North America is expected to remain the largest region over the forecast period due to growth in wind energy, aerospace, and marine industry.

Download Brochure of this report by clicking on https://www.lucintel.com/composite-materials-in-tooling-market.aspx.

Major players of composite materials in the global 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. Toray Industries Inc., Hexcel Corporation, Trelleborg AB, Cytec Solvay Group, Airtech Advanced Materials Group are among the major composite materials in the global 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/composite-materials-in-tooling-market.aspx or helpdesk@lucintel.com.

About Lucintel

At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times. For further information, visit www.lucintel.com.

Contact:
Roy Almaguer

Director of Client Engagements

Lucintel

Dallas, Texas, USA

Cell: 210-878-7693

roy.almaguer@lucintel.com

Related Reports

Recycled Carbon Fiber Market:

For more details click here https://www.lucintel.com/recycled-carbon-fiber-market.aspx

Brazilian Composites Market:

For more details click here https://www.lucintel.com/brazilian-composites-market.aspx

Unsaturated Polyester Resin Market:

For more details click here https://www.lucintel.com/unsaturated-polyester-resin-market.aspx