Global Tooling Composites Market 2017-2021

This industry research report identifies Airtech Advanced Materials Group, Hexcel, Koninklijke Ten Cate, Solvay, Sika, and TEIJIN as the key vendors in the global tooling composites market. This industry research report also presents a detailed analysis of the market by application (aerospace, automotive, construction, wind energy, military and marine, and others), by raw material (polyester, glass fiber, vinyl esters, epoxies, and others), and by geography (the Americas, APAC, and EMEA).

Overview of the global tooling composites market

Research analysis on the global tooling composites market identifies that the increasing demand from aerospace and automotive industry will be one of the major factors that will have a positive impact on the growth of the market. The rising demand from developing countries and the rising spending capacity among the end users has led to the demand for cars. The need for lightweight parts with higher strength in racing cars will generate demand for the use of tooling composites in the automotive industry. Additionally, the aerospace industry is also witnessing growth due to the rise in defense budgets, low oil prices, and the rise in demand for air travel that has led to the demand for commercial aircraft. This will subsequently increase the demand for tooling composites. Technavio’s market research analysts predict that in terms of volume, this market will grow at a CAGR of almost 8% by 2021.

In terms of geography, the Americas accounted for the highest revenue share during 2016. The increasing demand for the use of composites in the aerospace, automotive, wind energy, military, and marine industries in the region led to the growth of the tooling composites market. The vendors in the market are expanding their business through strategic alliances and new product offerings with OEMs of automotive and aircraft manufacturers.

Competitive landscape and key vendors

Owing to the presence of a considerable number vendors, the tooling composites market is highly competitive. The vendors in the composite tools market are competing based on the advanced technology, innovative product, durability and performance. Additionally, the composite tooling material vendors are also investing heavily in R&D to improve their products for new applications.

The leading vendors in the market are -

• Airtech Advanced Materials Group
• Hexcel
• Koninklijke Ten Cate
• Solvay
• Sika
• TEIJIN

The other prominent vendors in the market are BASF, Celanese, Formaplex, GKN Aerospace, Gurit Holding, Honeywell, HYOSUNG, Kaman Aerosystems, KOLON, Magna International, PRF Composite Materials, TPI Composites, The Dow Chemical, and SGL Group.

Segmentation by application and analysis of the tooling composites market

• Aerospace
• Automotive
• Construction
• Wind energy
• Military and marine

During 2016, the aerospace segment accounted for the major shares of the tooling composites market. There is an increasing demand of tooling composites to manufacture components of spacecraft, military jets, and commercial aircraft. The rise in the demand for high strength, affordable, lightweight and fuel-efficient materials in the aerospace industry will propel the demand for tooling composite.

Segmentation by raw material and analysis of the tooling composites market

• Polyester
• Glass fiber
• Vinyl esters
• Epoxies

The polyester segment will contribute the highest revenue share of the composite tools market in the coming years due to its wide application as a feedstock. It is used along with carbon fibers and glass fibers to sandwich core materials. The rising demand for lightweight and high-performance materials will drive the demand for polyester composites in the tooling composites market during the forecast period.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global tooling composites market?
• What are the key market trends impacting the growth of the global tooling composites market?
• What are the challenges to market growth?
• Who are the key vendors in the global tooling composites market?
• What are the market opportunities and threats faced by the vendors in the global tooling composites market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global tooling composites market?

Technavio also offers customization on reports based on specific client requirement.