The composite tooling market size reached USD 493 million in 2022. Demand for composite tooling is likely to witness USD 525 million in 2023. In the forecast period between 2023 and 2033, demand is poised to exhibit a 4.9% CAGR.
Revenue is anticipated to cross around USD 847.4 million by the end of 2033. Increasing adoption of automated manufacturing processes such as robotic lay-up and 3D printing for composite tooling, enhance precision and efficiency.
Automated manufacturing processes require precise and repeatable tooling solutions. Composite tooling has a high ability to be customized for intricate shapes and high dimensional accuracy. It becomes essential for ensuring efficient production in automated systems.
Automated manufacturing often involves creating complex, lightweight, and strong parts. Composite tooling enables the production of intricate designs and geometries that are difficult to achieve with traditional tooling materials.
Composite tooling can be manufactured relatively quickly compared to traditional metallic tooling. This reduction in lead times aligns with the efficiency goals of automated manufacturing.
Automated manufacturing relies on minimizing manual labor and maximizing production throughput. Composite tooling's lightweight nature can reduce the wear and tear on robotic systems and decrease energy consumption, resulting in cost savings over the long term.
Composites offer a high strength-to-weight ratio and can be tailored to specific mechanical properties. Automated manufacturing can benefit from such lightweight yet strong materials, leading to enhanced performance and reduced material waste.
Automation strives for consistent output with minimal variability. Composite tooling, when designed and manufactured accurately, contributes to achieving high-quality, uniform parts in automated processes.
Composite tooling's resistance to corrosion, heat, and wear can lead to reduced maintenance needs in automated manufacturing systems. It results in less downtime and improved overall efficiency.
As the demand for automated manufacturing grows across sectors, there's an increased need for innovative tooling solutions. Composite materials allow for flexibility in design and can adapt to various manufacturing techniques, enabling novel applications.
Composite tooling is particularly suited for producing lightweight components crucial for fuel efficiency and high-performance applications. As sustainability becomes a priority, composite materials offer eco-friendly alternatives.
Composite tooling can be recycled and produces less waste compared to traditional tooling materials. This aligns with the sustainability goals of automated manufacturing. There has been a notably growing use of high-performance materials such as carbon fiber-reinforced composites for tooling, improving durability, and reducing weight.
High-performance materials, such as carbon fiber composites, require precision and specialized tools for manufacturing due to their complex properties. This drives the demand for advanced composite tooling to ensure accurate and efficient production.
High-performance materials are used in applications with extreme temperatures and pressures. Composite tooling needs to withstand these conditions. This has led to a need for more durable and heat-resistant tooling solutions.
| Attributes | Key Insights |
|---|---|
| Composite Tooling Market Estimated Size (2023E) | USD 525 million |
| Projected Market Valuation (2033F) | USD 847.4 million |
| Value-based CAGR (2023 to 2033) | 4.9% |
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The market for composite tooling experienced growth at 7.1% CAGR in the historical period 2018 to 2022. In the forecast period, sales are likely to accelerate at 4.9% CAGR. It reached a value of USD 493 million in the base year 2022.
Businesses are now exploring innovative manufacturing techniques such as additive manufacturing (3D printing) for high-performance materials. There's a need for specialized composite tooling that can accommodate these advanced processes.
The aerospace and automotive sectors increasingly use high-performance materials to improve fuel efficiency and overall performance. This trend drives the demand for composite tooling to create lightweight, strong, and aerodynamic components.
High-performance materials are also crucial in renewable energy infrastructure, such as wind turbine blades and solar panels. The demand for these materials creates a parallel demand for precision composite tooling.
High-performance materials often demand tight tolerances and precision during manufacturing. Composite tooling, designed to meet these requirements, becomes essential to ensure consistent quality and performance.
Increasing demand for customized tooling solutions to meet specific manufacturing needs, leading to the development of tailored composite tooling options. Customized solutions often require intricate and complex designs. Composite tooling, with its ability to create intricate molds and patterns, becomes essential to accurately reproduce these designs.
Customized solutions often involve prototyping and iterative design processes. Composite tooling allows for faster and more cost-effective production of prototypes and iterations compared to traditional methods.
Composite tooling enables faster manufacturing cycles, reducing lead times for customized products. This is particularly beneficial in business where rapid product development is crucial.
Customized solutions may target specific performance requirements, including weight reduction. Composite materials offer high strength-to-weight ratios, making them desirable for sectors such as aerospace and automotive. Composite tooling offers better control over dimensional accuracy and surface finish, resulting in higher quality end products.
Composite tooling is versatile and can accommodate several manufacturing techniques such as resin infusion, prepreg layup, and compression molding. This versatility is advantageous for producing a wide range of customized products.
Composite tooling materials are often durable and can withstand multiple production cycles. This durability is crucial for meeting the demands of producing customized products over extended periods.
Customized solutions are required across multiple sectors, from aerospace to consumer goods. The demand for composite tooling is set to soar as customization becomes prevalent across these sectors.
Integration of digital twin technology has been initiated to simulate and optimize composite tooling designs, reducing trial-and-error iterations and minimizing costs.
Utilization of additive manufacturing techniques for producing intricate tooling designs, offering fast prototyping and reduced lead times has taken hold in the market.
Integration of Industry 4.0 concepts, such as IoT sensors and data analytics, to monitor tooling performance and predict maintenance requirements is a major trend.
Rising focus on sustainability is driving the adoption of eco-friendly materials and processes in composite tooling manufacturing.
Development of multifunctional composite tooling is being focused on, that can incorporate features such as heating elements, sensors, and integrated vacuum systems.
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Achieving the desired shapes and features in composite tooling can be limited by the manufacturing process capabilities.
Concerns about the environmental impact of composite materials and their disposal at the end of their lifecycle can affect their adoption.
Compliance with industry regulations and standards can add complexity to the development and use of composite tooling.
Integrating composite tooling processes with automation and robotics can be challenging due to the need for precise control and customization.
The United States composite tooling market is expected to showcase a CAGR of 4.9% during the forecast period 2023 to 2033. It is set to reach a valuation of USD 170.2 million by the end of 2033.
The composite tooling in the United States finds applications across different sectors such as aerospace, automotive, wind energy, and others. The creation of composite tooling is now more precise and efficient. This is largely because of the market's trend toward modern manufacturing techniques. It includes automated processes and additive manufacturing.
Growing demand for high-quality tooling systems is primarily driven by the aerospace sector in the United States. It also serves as a primary driver behind the composite tooling market during the forecast period. Rising usage of lightweight materials to improve fuel efficiency and performance in the automotive sector has also contributed to the growth of the composite tooling industry.
China is likely to exhibit a CAGR of 4.8% during the projection period. It is likely to top a market value of USD 171.5 million by 2033.
China has been witnessing substantial growth due to the increasing demand for lightweight and durable materials. It is used in different sectors, including aerospace, automotive, marine, wind energy, and sports equipment manufacturing. These are key factors driving the market's expansion.
The automotive sector’s shift towards electric vehicles and the need for improved fuel efficiency has led to great adoption of composites. This has boosted the demand for composite tooling. The aerospace sector continuously pushes for lightweight components to enhance fuel efficiency and performance. It has significantly contributed to the expansion of the composite tooling market in China.
China's increasing investments in wind energy and infrastructure projects have resulted in high demand for composite materials and, consequently, composite tooling. Advances in manufacturing technologies, such as automated layup and 3D printing, have improved the efficiency and quality of composite tooling production in China.
China's growing expertise in composite tooling is making it a significant player in the global market, attracting attention from international companies seeking partnerships or collaborations.
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Based on type, the epoxy segment holds a lion’s share in the market. It is likely to exhibit a CAGR of 4.8% in the assessment period.
Epoxy-based composite tooling materials offer excellent mechanical properties, including high strength and durability. It makes them suitable for different applications that require robust tooling solutions.
Epoxy resins exhibit minimal shrinkage during curing, leading to accurate and precise tooling production. This property is crucial in sectors such as aerospace and automotive, where precision is paramount.
Epoxy-based composite tooling materials often have good resistance to high temperatures, making them suitable for applications that involve high-temperature curing processes.
Epoxy resins have strong chemical resistance, protecting the tooling from potential damage caused by chemicals used in several manufacturing processes. Epoxy-based tooling materials maintain their shape and dimensional stability over time. It helps in contributing to consistent and reliable performance during repeated use.
Epoxy composites are generally simple to deal with, making it possible to rapidly produce intricate forms and patterns. Epoxy resins can be easily customized to satisfy specific specifications, enabling manufacturers to create composite tooling materials that are tailored to their unique requirements.
Epoxy resins provide good adherence to a variety of substrates, facilitating effective bonding between various composite material layers and boosting overall structural integrity. Composite tooling materials based on epoxy provide a good weight-to-strength ratio, which helps create lightweight yet durable tooling solutions.
As per the study, the automotive division is expected to hold mammoth share in the global composite tooling market. It is likely to register a CAGR of 4.7% over the forecast period.
The automobile sector's growing emphasis on being lightweight is to increase fuel economy and reduce emissions. It has increased the need for composite components, which in turn is driving need for composite tooling.
Composite materials are appealing for automotive uses that need both structural integrity and decreased weight. They have good strength-to-weight ratios and might be customized to individual performance requirements.
The automobile sector's ongoing research for cost-effective solutions is in line with composite tooling. It might decrease manufacturing expenses by simplifying production processes, reducing material waste, and enhancing efficiency.
Composite tooling allows for complex shapes and designs, enabling automotive manufacturers. It creates aerodynamic, stylish, and innovative vehicle designs that stand out in the market. The shift towards electric vehicles is accelerating, and composite materials are crucial in developing lightweight EV components to extend battery range. This trend further propels the automotive sector demand for composite tooling.
Composite tooling allows for customization of parts, which is important for luxury and high-performance automotive uses that often require unique and tailored components.
As the automotive sector strives to become eco-friendly, the use of composite materials in vehicles aligns with sustainability goals. They can be recycled and have a low environmental impact compared to traditional materials.
The automotive sector's substantial demand for composite tooling might lead to innovation in supply chain processes, driving advancements in manufacturing techniques and cost reduction.
Key manufacturers focus on developing advanced composite tooling technologies to enhance precision, efficiency, and durability in the production process. Key manufacturers are offering customizable tooling solutions to cater to specific business needs, ensuring better fit and optimized performance.
They are expanding their product portfolios to address a broad range of sectors. It includes aerospace, automotive, marine, and wind energy, to reduce dependency on a single market segment.
Recent developments:
| Attribute | Details |
|---|---|
| Estimated Market Size (2023) | USD 525 million |
| Projected Market Valuation (2033) | USD 847.4 million |
| Value-based CAGR (2023 to 2033) | 4.9% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | Value (USD million/billion) and Volume (MT) |
| Key Regions Covered | Latin America; North America; Europe; South Asia; East Asia; Oceania; and Middle East & Africa |
| Key Countries Covered | United States, Mexico, Brazil, Chile, Peru, Argentina, Germany, France, Italy, Spain, Canada, United Kingdom, Belgium, Nordic, Poland, Russia, Japan, South Korea, China, Netherlands, India, Thailand, Malaysia, Indonesia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Central Africa, and others |
| Key Market Segments Covered | Type, Application, and Region |
| Key Companies Profiled | Airtech International Inc.; Ascent Aerospace; Formaplex; Gurit Holding AG; Hexcel Corporation |
Revenue is anticipated to reach an industry valuation of USD 847.4 million by 2033.
The demand is likely to register a CAGR of 4.9% during the forecast period
The global composite tooling industry expanded at a CAGR of 7.1% between 2018 and 2022.
The United States is likely to lead the composite tooling industry growth with a CAGR of 4.9% during the forecast period.
The global composite tooling industry value is projected to reach USD 525 million by 2023.
The epoxy segment is set to exhibit at 4.8% CAGR during the forecast period.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Resin Type 5.1. Epoxy 5.2. BMI 5.3. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Automotive 6.2. Aerospace & Defense 6.3. Wind 6.4. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Airtech International Inc 17.2. Ascent Aerospace 17.3. Formaplex 17.4. Gurit Holding AG 17.5. Hexcel Corporation 17.6. Hydrojet, Inc. 17.7. Janicki Industries, Inc 17.8. Machinists, Inc. 17.9. Royal Ten Cate NV 17.10. Solvay S.A 18. Assumptions & Acronyms Used 19. Research Methodology
Chemicals & Materials
February 2023
REP-GB-167
325 pages
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Composite Tooling Market
