Lucintel Forecasts the Global Composites Tooling Market to Reach $861 Million by 2030
Lucintel Forecasts the Global Composites Tooling Market to Reach $861 Million by 2030
Blog Article
According to a market report by Lucintel, the future of the global composites tooling market looks promising with opportunities in the wind energy, automotive, aerospace, marine, consumer goods, and construction industry. The global composites tooling market is expected to reach an estimated $861 million by 2030 from $580 million in 2023 at a CAGR of 6% from 2023 to 2030. The major drivers for this market are increase in demand for light weight tools, decrease in lead time for part manufacturing, and increasing penetration of composite tooling in various end use industries.
Browse 133 figures/charts and 128 tables in this 200-page report to understand trends, opportunity and forecast in composites tooling market to 2030 by application (transportation, marine, wind energy, aerospace, construction, consumer goods, and others), raw material (glass fiber, carbon fiber, epoxy, BMI, and others), material form (fabric and prepreg), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecasts that wind energy will remain the largest application and it is also expected to witness highest growth over the forecast period due to increasing wind MW installation in US and Asia Pacific region and increase in length of blade.
Composite tools for aerospace application is expected to witness the highest growth over the forecast period. Composite tools provide lightweight, dimensionally accurate, and affordable tooling for various applications in aerospace, such as primary and secondary structure.
North America is expected to remain the largest region over the forecast period due to growth in wind energy, aerospace, and marine industry. ROW is expected to witness highest growth over the forecast period.
Toray Industries Inc., Hexcel Corporation, Trelleborg AB, Cytec Solvay Group, Airtech Advanced Materials Group are the major suppliers in the composites tooling market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected]. To get access of more than 1000 reports at fraction of cost visit Lucintel's Analytics Dashboard.
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Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: [email protected]
Tel. +1-972-636-5056