A recent report published by Infinium Global Research on tooling composite market provides an in-depth analysis of segments and sub-segments in the global as well as regional tooling composite market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional tooling composite market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global tooling composite market. According to the report, the global tooling composite market is projected to grow at a CAGR of 7.12% over the forecast period of 2019-2025.
The usages of the composite materials range from simple household to light-to-heavy industrial purposes including oilfield applications. Composite tools are made using similar materials and procedures as composites production. These tools are in form of fabric and prepreg and the majority of the manufacturers offer composite tooling in the form of prepreg in the range of reinforcement such as carbon and glass as per the requirement. The tooling composites in 3D printing is the latest trend for gaining momentum in the market. 3D printing in tooling composites has brought substantial changes in tooling composite. The rising demand from the automotive, aerospace and other application sectors needs the fast delivery of components and the customs building of composites. This is leading to demand for alternative methods for faster manufacturing.
The growing focus on lightweight design by end-use industries is the major driving factor for the tooling composite market. Furthermore, factors such as increasing penetration of composite materials and advancement in composite technologies such as high-pressure resin transfer molding are other driving factors for the market growth. The demand is rising in aerospace & defense and transportation industries with the purpose to enhance fuel efficiency and to reduce carbon emissions. The need for lightweight parts with higher strength in racing cars is fueling the growth of the market. However, high susceptibility to wear and high competition from other materials is restraining the growth of tooling composite market. Moreover, the adoption of 3d printing in composite tooling is expected to provide growth opportunities to the market players.
Geographically, North America dominates the global tooling composites market owing to the growing demand for the use of composites in the aerospace, automotive, wind energy, military, and marine industries in this region. Asia-Pacific is expected to grow at the highest CAGR in the forecasted period due to the growing composites industry.
The report on global tooling composite market covers segments such as fiber reinforcement type, resin type, form, and applications. On the basis of fiber reinforcement type, the sub-markets include carbon fiber, and glass fiber. On the basis of resin type, the sub-markets include bismaleimide (BMI), epoxy, and other resin types. On the basis of form, the sub-markets include fabric, and prepreg. On the basis of applications, the sub-markets include automotive, aerospace, defense, wind energy, and other applications.
The report provides profiles of the companies in the market such as Koninklijke Ten Cate bv, Hexcel Corporation, Gurit Holding, Airtech Advanced Materials Group, Solvay S.A., Janicki Industries, Inc., AIP Aerospace, LLC, Formaplex, Hydrojet, Inc., Machinists, Inc., and other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of tooling composite market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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