DETROIT, Feb. 07, 2017 (GLOBE NEWSWIRE) -- Stratview Research announces the addition of a new market research report on Global Tooling Market for Composites Industry by Material Type (Invar, Aluminum, Other Metals, Tooling Prepreg, Infusion, and Others), by End-Use Industry (Aerospace & Defense, Wind Energy, Marine, Transportation, Construction, and Others), by Use Type (Prototype and Serial Production), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2017 – 2022.
The Global Tooling Market for Composites Industry: Highlights
As per Stratview Research, the global tooling market for composites industry is expected to offer an impressive growth of 7.1% CAGR during the forecast period of 2017 to 2022 and reach US $1.5 billion in 2022, which offers an opportunity to the composites industry players to align themselves with the market growth.
There are several factors bolstering the growth of tooling market in the composites industry. The author of the report cited 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 material, tooling prepreg is expected to remain the largest type in the tooling market for composites industry over the next five years. The material type (tooling prepreg) is projected to witness the highest growth in the same period, propelled by increasing use in high growth markets owning to its excellent coefficient of thermal expansion property.
As per the study, aerospace & defense is projected to remain the largest end-use market for tooling in composites industry during the forecast period driven by increasing production rates of composites rich aircraft, such as B787 and A350XWB, advancement in composite technologies, such as AFP and ATL, and increasing use of resin transfer molding process in the aircraft engines. However, transportation industry is likely to exhibit the highest growth in the same period, driven by increasing penetration of composites in the electric and premium vehicles.
In terms of region, North America is estimated to remain the largest tooling market for composites industry. The region is the manufacturing capital of aerospace & defense industry with the presence of several small to large composites part manufacturers. Asia-Pacific is likely to grow at the highest rate during the forecast period, driven by growing composites industry. China and India are the growth engines of the Asia-Pacific market.
AIP Aerospace Inc, Airtech Advanced Materials Group, Gurit Holding, Hexcel Corporation, Kaman Aerosystems, and Janicki Industries are some of the major tooling manufacturers in the composites industry.
Report Features
This industry research report from Stratview Research provides market intelligence in the most comprehensive manner. The report structure has been kept such that it offers maximum business value. It provides critical insights on 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 research report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
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