Stratview Research announces the launch of a new research report on Tooling Board Market 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), Forecast, Competitive Analysis, and Growth Opportunity: 2021-2026.
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 to provide the most crystal-clear picture of the market. The report segments and analyses the market in the most detailed manner 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 formulate growth strategies.
Tooling Board Market: Highlights
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. Transportation and aerospace industries, the two major markets, witnessed hefty declines amid the pandemic, whereas 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 rebound at a promising CAGR of 6.1% to reach US$ 0.4 billion in 2026.
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Based on the end-use industry, 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, 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 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.
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The global 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 players 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. Key players in the tooling board market are
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 on 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:
This report studies global tooling board market and has segmented the market in five ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the five ways in which the market is segmented:
Tooling Board Market Size, Share & Forecast, by End-Use Industry Type
Tooling Board Market Size, Share & Forecast, by Product Type
Tooling Board Market Size, Share & Forecast, by Application Type
Tooling Board Market Size, Share & Forecast, by Density Type
Tooling Board Market Size, Share & Forecast, by Region
Rest of the World (Country Analysis: Brazil, and Others)