Tooling Board Market Report
Tooling Board Market is Segmented by End-Use Industry Type (Transportation, Aerospace, Wind Energy, Marine, and Others), by Product Type (Epoxy Tooling Board and Polyurethane Tooling Board), by Application Type (Composite Applications and Non-Composite Applications [Design & Styling, Model & Tooling, and Others]), by Density Type (600-800 kg/m3, 800-1000 kg/m3 and above 1000 kg/m3), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
Tooling Board Market is Segmented by End-Use Industry Type (Transportation, Aerospace, Wind Energy, Marine, and Others), by Product Type (Epoxy Tooling Board and Polyurethane Tooling Board), by Application Type (Composite Applications and Non-Composite Applications [Design & Styling, Model & Tooling, and Others]), by Density Type...
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
Tooling boards are generally made from polymer-filled materials, when these boards are bonded together, they shape larger blocks which are used to produce molds, prototypes, and master models. There are mainly two types of tooling boards widely used across industries, namely epoxy tooling boards and polyurethane tooling boards.
The impact of the COVID-19 pandemic on the demand for tooling boards varies from industry to industry. The transportation and aerospace industries, the two major markets, witnessed hefty declines amid the pandemic, whereas the wind energy and marine industries, relatively small markets, witnessed lesser declines over the same period. Overall, the global tooling board market experienced a low double-digit decline in 2020, reaching a value below US$ 0.3 billion.
An expected recovery in the economy coupled with the surge in vehicle productions is among the key factor signaling towards the industry’s take-off to a healthy recuperation, helping the market stakeholders to recoup at a promising rate of 6.1% to reach US$ 0.4 Billion in 2026.
Based on the end-use industry type, the tooling board market is segmented as transportation, aerospace, wind energy, marine, and others. Despite a massive nosedive in 2020, transportation is expected to remain the largest segment of the market during the forecast period. The wide usage of tooling boards for making composite tools, parts, and molds for automotive and motorsports have led to a huge dominance of the segment in the total market. The aerospace industry also holds a sizeable market demand with substantial usage of epoxy tooling boards in the industry for composite applications.
Based on the application type, the market is segmented as composite applications and non-composites applications. Non-Composite application is expected to remain the larger segment of the market during the forecast period in the wake of their wide use in tooling applications. The non-composite application segment is further divided into the use type as design & styling, model & tooling, and others. Among non-composite applications, the model & tooling segment holds a significant dominance and will continue to dominate due to its suitability for making master models and molds for different end-use industries. Composite tooling board holds a smaller share but represents strong growth potential during the forecast period.
Based on the density type, the market is segmented as 600-800 kg/m3, 800-1000 kg/m3, and above 1000 kg/m3. The 600-800 kg/m3 segment is likely to maintain its dominance during the forecast period due to its suitability towards a wide range of temperatures for making master models and patterns in different end-use industries, making it the most suitable tooling board segment.
In terms of regions, Europe is expected to remain the largest market for tooling boards during the forecast period. On the other hand, Asia-Pacific is rich with lucrative growth opportunities over the forecast period as China and India are the key emerging countries with soaring demand for tooling boards. Different regions are dominant in different market segments. For instance, the aerospace and marine market segments are dominated by the North American region, whereas the transportation (including motorsports) market segment is dominated by the European region.
The market for tooling boards is highly consolidated with the presence of a handful number of players. Furthermore, there has been a continuous consolidation in the market with the big fish acquiring the smaller ones. For instance, Polytek Development Corporation, Inc., a leading global supplier of tooling boards for a wide range of industries, acquired BCC Products, Inc. After the acquisition, Polytek Development Corporation successfully leaped ahead in the market with the added capabilities and expansion of its product portfolio.
The supply chain of this market comprises several nodes including raw material suppliers, tooling board manufacturers, distributors, tier players, and OEMs. The following are the key players in the tooling board market.
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s tooling board market realities and future market possibilities for the forecast period of 2021 to 2026. After a continuous interest in our tooling board market report from the industry stakeholders, we have tried to further accentuate our research scope to the tooling board market in order to provide the most crystal-clear picture of the market. The report segments and analyses the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a 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. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
The tooling board market is segmented into the following categories.
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Transportation is expected to remain the largest segment in the tooling board market during the next five years.
The tooling board market is estimated to grow at a healthy CAGR of 6.1% by 2026.
AIP Aerospace, Inc. (American Industrial Partners), Trelleborg AB (Trelleborg applied technologies), Base Group, Rampf Group, Inc., Huntsman Advanced Materials, Sika Axson, Polytek Development Corporation (BCC)., Guangzhou Lihong, Alchemie Ltd, Elantas (Part of Atlanta), and Coastal Enterprises (Precision Board) are the leading players in the tooling board market.
Europe is estimated to remain dominant in the tooling board market in the foreseen future.
Non-Composite application is expected to remain the larger segment in the tooling board market in the coming years.
The 600-800 kg/m3 segment is expected to remain dominant in the tooling board market during the forecast period.