Opportunities for composite materials in the global tooling market is expected to grow at a CAGR of 5.2% by 2025

According to a new market report published by Lucintel, the future of composite materials in the global tooling market looks promising with opportunities in the wind energy, automotive, aerospace, marine, consumer goods, and construction industry. Composite materials in the global tooling market are forecast to grow at a CAGR of 5.2% from 2020 to 2025. The major drivers for this market are 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.

In this market, composite tools are made either from glass fiber or carbon fiber mixed with a suitable matrix (resin), such as epoxy, BMI, and others. On the basis of its comprehensive research, Lucintel forecasts that the glass fiber based composites tools will remain the largest material segment and it is also expected to witness the highest growth over the forecast period.

Within this market, wind energy will remain the largest application for composites tools market due to increasing wind MW installation in US and Asia Pacific region and increase in length of blade. Composite tools for aerospace application is 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 remain the largest region and it is also expected to witness the highest growth over the forecast period due to growth in wind energy, aerospace, and marine industry.

An emerging trend, which has a direct impact on the dynamics of the industry, includes increased use of metal/composites combination materials for tooling.  Gurit, Solvey cytec, Hexcel Corporation, Airtech Advanced Materials Group, and Toray are among the major manufacturers of the composite materials for global tooling market.

Lucintel, a leading global strategic consulting and market research firm, has analyzed composite material in the global tooling market by application, by raw material, by material form, and region, has come up with a comprehensive research report entitled “Growth Opportunities of Composite Materials in the Global Tooling Market 2020-2025: Trends, Forecast, and Opportunity Analysis”. The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast  of composite Materials in the global tooling market by application, raw material, material form, and region as follows:

By Application [Volume (M lbs) and Value ($ Million) from 2014 to 2025]:

•          Transportation
•          Marine
•          Wind Energy
•          Aerospace
•          Construction
•          Consumer Goods
•          Others

By Raw Material Type [Volume (M lbs) and Value ($ Million) from 2014 to 2025]:

•          Glass Fiber 
•          Carbon Fiber
•          Epoxy Resin
•          BMI Resin
•          Others

By Material Form [Volume (M lbs) and Value ($ Million) from 2014 to 2025]:

•          Fabric
•          Prepreg

By Region [Volume (M lbs) and Value ($ Million) from 2014 to 2025]:

•          North America
•          Europe
•          Asia Pacific
•          ROW 

This 150-page 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 helpdesk@lucintel.com. Lucintel offerings include advanced materials reports, composite materials market report, strategic growth consulting, market research due diligence and business strategy consulting.

About Lucintel

Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

This report answers following 11 key questions:

Q1. What are some of the most promising, high-growth areas of 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)?

Q2. Which application segments will grow at a faster pace and why?

Q3. Which region will grow at a faster pace and why?

Q4. What are the key factors affecting market dynamics? What are the drivers and challenges in the market?

Q5. What are the business risks and competitive threats in this market?

Q6. What are emerging trends in this market and the reasons behind them?

Q7. What are some changing demands of customers in the market?

Q8. What are the new developments in the market and which companies are leading these developments?

Q9. Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?

Q10. What are some of the competitive products in this market and how great of a threat do they pose for loss of market share through product substitution?

Q11. What M & A activities have transpired in the last 5 years in this market and how have they affected the industry?