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Tooling Market Report | Covid-19 Impact Analysis
Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues has gone down in 2020 and may resume an uptrend gradually form 2021. Companies optimizing their operation and statergy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
This report, from Stratview Research, studies the global tooling market for the composites industry over the trend period of 2012 to 2017 and the forecast period of 2018 to 2023. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities in the market.
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.
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.
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 700 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. We conduct usually more than10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
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 into 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:
The global tooling market for the composites industry is segmented into the following categories.
Global Tooling Market for the Composites Industry by End-Use Industry Type:
Global Tooling Market for the Composites Industry by Material Type:
Global Tooling Market for the Composites Industry by Usage Type:
Global Tooling Market for the Composites Industry by Region:
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected]
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