Apr 16,2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Invar Tooling in Global Composites Market.
It was estimated prior to this unanticipated outbreak that the Invar Tooling in Global Composites Market was expected to grow at a CAGR of 7.6% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
For a more detailed breakdown of the COVID-19 impact on the Invar Tooling in Global Composites Market, request a free sample of the report here:
Invar is a nickel–iron alloy extensively used for its uniquely low coefficient of thermal expansion property. Invar tooling is used to manufacture composites as it offers higher production capacities.
The key factor driving the demand for invar tooling is mainly the growing usage of composite materials in various end-use industries, such as automotive and aerospace, which in turn, is underpinning the growth of the market.
Invar tooling is used to produce composite parts for various end-use applications. For instance; invar tooling is used for the production of flight-critical composite parts and structures for next-generation aircraft and spacecraft.
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Based on the end-use industry type, the invar tooling in global composites market is segmented as automotive, consumer goods, aerospace, medical, and others. The aerospace industry segment dominates the market, as invar offers a closer coefficient of thermal expansion that matches the carbon fibre composites. Further, invar tooling can withstand thousands of autoclave cure cycles, due to which its application in the aerospace industry is increasing.
In terms of regions, North America is estimated to be the largest market during the forecast period, with the USA, Canada, and Mexico being the major countries with lucrative growth opportunities. The dominance of the market in the region is mainly due to the wider acceptance of invar tooling in various end-use industries for product manufacturing and mass customization.
Some of the major invar tooling manufacturers in the global composites market are-
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Invar Tooling in Global Composites Market analysis report discusses the following heads in great detail: