The changing dynamics in Tooling Market for the Composites Industry with covid-19 impact assessment
The unexpected shifts in the global markets
because of the sudden outbreak of the COVID-19 virus have brought many major
and minor tremors to industries of all sizes including the Tooling Market for the Composites Industry.
It was estimated prior to this unanticipated
outbreak that the Tooling Market for the
Composites Industry
will reach US$ 1558.7 million in 2023. However,
the gradual slowing down of industries will undoubtedly impose limits on the
previously estimated growth rate.
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impact on the Tooling Market for the Composites
Industry, request a
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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 high 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, 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 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.
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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 high rate for the same period,
driven by growing composites industry. China and India are the growth engines
of the Asia-Pacific’s market.
Key Players:
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.
Features of the Report
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.
The Tooling Market for the Composites Industry analysis report
discusses the following heads in great detail:
- Market structure:
Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact
Assessment
- 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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