SAN FRANCISCO, Aug. 25, 2021 — A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “Composite Tooling – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 9; Released: April 2021
Executive Pool: 433
Companies: 44 – Players covered include Airtech International Inc; Ascent Aerospace; Formaplex; Gurit Holding AG; Hexcel Corporation; Hydrojet, Inc.; Janicki Industries, Inc.; Machinists, Inc.; Royal Ten Cate NV; Solvay S.A and Others.
Coverage: All major geographies and key segments
Segments: Application (Aerospace & Defense, Wind, Automotive, Other Applications); Resin Type (Epoxy, BMI, Other Resin Types)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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Global Composite Tooling Market to Reach $682.3 Million by 2026
Amid the COVID-19 crisis, the global market for Composite Tooling estimated at US$471.9 Million in the year 2020, is projected to reach a revised size of US$682.3 Million by 2026, growing at a CAGR of 6.1% over the analysis period. Epoxy, one of the segments analyzed in the report, is projected to record a 6.5% CAGR and reach US$232 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the BMI segment is readjusted to a revised 6.5% CAGR for the next 7-year period.
The U.S. Market is Estimated at $136.7 Million in 2021, While China is Forecast to Reach $141.9 Million by 2026
The Composite Tooling market in the U.S. is estimated at US$136.7 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$141.9 Million by the year 2026 trailing a CAGR of 9.4% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.3% and 5.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.9% CAGR.
By Application, Aerospace & Defense Segment to Reach US$127.3 Million by the year 2026
In the global Aerospace & Defense (Application) segment, USA, Canada, Japan, China and Europe will drive the 5.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$63.6 Million in the year 2020 will reach a projected size of US$101.6 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$15.7 Million by the year 2026, while Latin America will expand at a 7.5% CAGR through the analysis period. More
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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.