Global Tooling Composite Market 2016-2020
About Tooling Composite
Composite materials are made of two or more constituents that have different physical or chemical properties. These combined materials produce a different material with features that are different from the original components.
The components remain separate and distinct within the finished structure. These composite materials are preferred in many applications for as they are stronger, lighter, and cheaper than traditional materials.
The tooling molds can be made from carbon fiber or epoxy, solid graphite, castable graphite, ceramics, or metals — aluminum or steel.
Technavio’s analysts forecast the global tooling composites market to grow at a CAGR of 7.43% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global tooling composites market for 2016-2020. The report considers the revenue generated from the use of tooling composites in transportation, construction, aerospace, and consumer goods to calculate the market size.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Tooling Composite Market 2016-2020
Technavio recognizes the following companies as the key players in the Global Tooling Composite Market: Airtech International, Cytec, Hexcel, Sika, and TenCate.
Other Prominent Vendors in the market are: BASF, Celanese, Composites One, DuPont, GKN Aerospace, Honeywell International, Hyosung, Kolon, Magna International, Teijin, and Valeo.
Commenting on the report, an analyst from Technavio’s team said: “Green infrastructures can be a cost-effective approach to improve the energy sustainability efficiently and helps communities to expand their infrastructure investments further by providing environmental, economic, and community benefits. These infrastructures contribute to reduce the initial construction costs and life-cycle costs including, planning, design, installation, operation and maintenance, and replacement costs.”
According to the report, the rising demand for eco-friendly products is increasing the use of fiberglass composites. Global players in automotive, construction and aerospace sectors are increasingly looking for composite materials that can be used to create cheaper and energy-efficient products that are lightweight and durable. These materials find applications in the manufacture of automotive components and hoods.
Further, the report states that restrictions on the supply or increase in the prices of raw materials, including epoxy, aluminum foil, carbon fiber, phenolic resins, fiberglass yarns, and aramid paper will affect the profit margins of the vendors.
Airtech International, Cytec, Hexcel, Sika, TenCate, BASF, Celanese, Composites One, DuPont, GKN Aerospace, Honeywell International, Hyosung, Kolon, Magna International, Teijin, Valeo.