Global Tooling Board Market

Global Tooling Board Market Size, Share, Growth Analysis, By Product(Polyurethane, Epoxy), By Application(Aerospace and defense, Automotive) - Industry Forecast 2024-2031

Report ID: SQMIG15A2243 | Region: Global | Published Date: March, 2024
Pages: 184 | Tables: 65 | Figures: 75

Global Tooling Board Market Dynamics

Tooling Board Market Drivers

Rise in Prototype Demand

  • The growing demand for prototypes across industries like aerospace, defense, automotive, and more is a significant driver for the tooling board market. These boards are used extensively in the production of prototypes, leading to increased demand.

Substitution of Traditional Materials

  • Tooling boards, particularly polyurethane and epoxy variants, are replacing traditional materials like metal and wood due to their advantageous properties, including dimensional stability, machinability, and temperature resistance.

Tooling Board Market Restraints

Limited Customization

  • While tooling boards offer precise machinability, there might be limitations in terms of intricate design customization compared to some other materials.

Material Characteristics

  • Certain specific applications might require properties that are not optimally provided by tooling boards, such as extreme high-temperature resistance or unique chemical compatibility.
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FAQs

Global Tooling Board Market size was valued at USD 11.25 billion in 2022 and is poised to grow from USD 11.7 billion in 2023 to USD 16.01 billion by 2031, growing at a CAGR of 4% during the forecast period (2024-2031).

The tooling board market on a global scale is characterized by intense competition, where a small number of prominent contenders dominate the field. Noteworthy names among these leaders are Huntsman International LLC, General Plastics Manufacturing Company, Curbell Plastics, Inc., Alchemie Ltd., and Sika AG. These corporations boast robust product portfolios, extensive distribution networks, and a worldwide presence. 'Huntsman Corporation', 'Trelleborg AB', 'Sika AG', 'General Plastics Manufacturing Co.', 'Axson Technologies (now part of Sika AG)', 'Alro Steel Corporation', 'Coastal Enterprises Co.', 'RAMPF Group, Inc.', 'CMT Materials, Inc.', 'Alchemie Limited', 'Carbon-Core Corp.', 'REN Shape Solutions (part of Avient Corporation)', 'Urethane Services, Inc.', 'Technifoam', 'Jinan Chenghao Technology Co., Ltd.', 'OBO-Werke GmbH & Co. KG', 'BCC Products, Inc.', 'Tekcast Industries', 'Argosy International Inc.', 'Northern Composites'

The growing demand for prototypes across industries like aerospace, defense, automotive, and more is a significant driver for the tooling board market. These boards are used extensively in the production of prototypes, leading to increased demand.

Shift towards Lightweight Solutions: With the increasing emphasis on lightweighting in various industries, there's a trend toward using lower density polyurethane and epoxy tooling boards to achieve cost savings and improved efficiency.

Europe exerted its dominance over the market, commanding more than 34.0% of the global volume in 2022. This ascendancy is attributed to Germany and Belgium, which stand as the foremost producers of polyurethane as a raw material. Furthermore, the region operates within a framework of rigorous regulations and legislation, compelling manufacturers to meticulously adhere to stringent guidelines, thus ensuring comprehensive sustainable development.

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Global Tooling Board Market

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