The rapid industrialization in developing economies followed by increasing composite materials demand is expected to provide potential opportunities for the composite tooling industry.
The global composite tooling market size was valued at >USD 450 million in 2019. In addition, it is projected to gather a CAGR of above 7.5% over the forecast years 2020-2028. The composite tooling market is rising at a significant pace due to driving factors such as increased demand for lightweight parts across industries such as transportation, mining, automotive , aerospace and wind power generators.it are likely to boost demand for the composite tooling market in the years to come. Carbon fibre-composite tools render complex composite shapes simpler to build. Competition due to invar and other materials may generate some market hindrance, for the most part. The introduction of 3D printed tools would however provide the composite tooling industry with opportunities.
The global composite tooling market report summaries the various characteristics of the global composite tooling industry by assessing the market from porter’s five forces analysis, PESTEL analysis, and value chain analysis. Moreover, the composite tooling market report comprises various qualitative parts such as market restraints, important market drivers, and opportunities. Furthermore, the report provides a complete assessment of the market through company profiling and the competitiveness of the local as well as global companies.
The composite tooling market has high competition amongst the already well-known and new composite tooling manufacturers. Also, the composite tooling manufacturers are chasing possible markets to grab a competitive edge among the other players operating in this industry by forming new product development, technological upgradation, investment in research & development, mergers & acquisitions, partnerships, and facility expansion strategies.
North America dominated composite tooling market in 2019. Presence of well-established automotive and aerospace manufacturers followed by increasing composite materials production over the past few years is expected to open new opportunities for composite tooling industry in this region. Asia Pacific region is expected to be the fastest growing region in this industry by virtue of rapid industrialization followed by increasing wind industry in China, Japan, India, and Southeast Asia.
The global composite tooling industry is competitive in nature as large number of well-established manufacturers are operating in this industry. Some key players engaged in this industry are Gurit Holding AG, Royal Tencate N.V., Hexcel Corporation, Airtech Advanced Materials Group, Solvay S.A. (Cytec Industries, Inc.), Janicki Industries, Inc., Formaplex, Hydrojet, Inc., Machinists, Inc., and AIP Aerospace, LLC. Manufacturers operating in this industry are adopting mergers & acquisitions, new product development, research & development, and facility expansion strategies in order to strengthen their geographical presence and market concentration.
Key Segments of the Global Composite Tooling Market
Resin Type Overview, 2018-2028 (USD Million) (Tons)
Fiber Type Overview, 2018-2028 (USD Million) (Tons)
- Glass Fiber
- Carbon Fiber
End User Overview, 2018-2028 (USD Million) (Tons)
Regional Overview, 2018-2028 (USD Million) (Tons)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America