Lucintel anticipates that Europe will be the fastest growing region in tooling resin market
Added: (Wed Jan 09 2019)
Pressbox (Press Release) -
According to a new market report published by Lucintel, the future of the global tooling resin market is attractive with opportunities in the end use industries such as aerospace and defense, transportation, marine, wind energy, and others. The global tooling resin market is forecast to grow at a CAGR of 6.9% from 2017 to 2022. Tooling resin is used to make tooling boards and composites molds. The major driver of growth for this market is the increasing demand for tooling boards used for prototypes of automotive and aerospace parts.
In this market, aerospace and defense, transportation, marine, and wind energy are the major end use industries. On the basis of its comprehensive research, Lucintel forecasts that the transportation and wind energy segments are expected to show above average growth during the forecast period.
Within the global tooling resin market, transportation is expected to remain the largest market by volume and value consumption. Growing demand for lightweight materials in the automotive industry is expected to spur growth for this market over the forecast period.
By material type, polyurethane and epoxy are the major tooling resins used to manufacture molds and tooling boards. Polyurethane resin is expected to be the largest market by value and volume. Excellent surface finish, shorter cycle time, and low coefficient of thermal expansion are the properties that will drive the growth of polyurethane resin.
Europe is expected to remain the largest region because major automotive and aerospace parts manufacturers are located in there. Furthermore, the demand for tooling boards is growing for developing prototypes for formula one cars, motorsports vehicles, lightweight passenger vehicles, and in the aerospace industry.
Asia Pacific is expected to experience above average growth over the forecast period by virtue of growth in the transportation and aerospace industry.
Emerging trends, which have a direct impact on the dynamics of the industry, include increased demand for high temperature polyurethane resin to manufacture tooling boards. Momentive, Huntsman Corporation, Dow chemical, Cytec (Solvay), Hexcel, and Gurit are among the major suppliers of the tooling resin market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global tooling resin market by product type, material type, application, and region, and has come up with a comprehensive research report, entitled Growth Opportunities in the Global Tooling Resin Market 2017-2022: Trends, Forecast, and Opportunity Analysis. The Lucintel report serves as a catalyst for growth strategy, as it provides a comprehensive data and analysis on trends, key drivers, and directions.
The study includes a forecast for the global tooling resin market by application, by product type, material type, and region, as follows:
By application type (Value ($M) and Volume (M lbs) shipment analysis from 2011 2022):
Transportation
Aerospace
Marine
Wind Energy
Others
By product type (Value ($M) and Volume (M lbs) shipment analysis from 2011 2022):
Mold
Tooling Board
Tooling Paste
By resin type (Value ($M) and Volume (M lbs) shipment analysis from 2011 2022):
Epoxy
Polyurethane
Others
By region (Value ($M) and Volume (M lbs) shipment analysis from 2011 2022):
North America
Europe
Asia Pacific
Rest of the World
This 167-page 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 helpdesk@lucintel.com. Lucintel offerings include Advanced Materials Reports, Composite Materials Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT Analysis.
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers following 11 key questions:
Q. 1. .What are some of the most promising, high-growth trends in the global tooling resin market by product (molds, tooling boards, and tooling paste), by material (epoxy, polyurethane, and others), by application (aerospace, transportation, wind energy, marine, and others), and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2. Which product segments will grow at a faster pace and why?
Q. 3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers and challenges in the market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are the changing demands of customers in the market?
Q.8. What are the new developments in the market and which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10. What are some of the competitive products in this market and how great of a threat do they pose for loss of market share through product substitution?
Q. 11. What M&A activities have transpired in the last 5 years in this market and what impact have they had on the industry?