Global Epoxy Tooling Board Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Global Epoxy Tooling Board Market Analysis
During the time frame of the forecast, the global epoxy tooling board market is expected to register a CAGR of about 5%.
Manufacturers of epoxy tooling boards make boards that can be used for a wide range of tasks, such as making product prototypes and assembly fixtures. Epoxy is used for prototyping because it has a unique combination of a smooth surface and the ability to stand up to high temperatures. The global epoxy tooling board market looks attractive, with opportunities in the automotive, aerospace, marine, and other industries.
Epoxy tooling board is used for prototyping because of its smooth surface and high-temperature resistance, which make it a unique material. One of the main things driving the market is the rising demand for Formula One cars and airplane prototypes. They are made to be strong and stable in size, which makes them perfect for making jigs and building accurate patterns and models. Epoxy tooling board manufacturers also offer high resistance to compression, resistance to heat, chemical stability, low thermal expansion, and an easy-to-polish surface. Because industrial tooling has been getting better, the demand for epoxy tooling boards has been going up in the world market. Epoxy boards help with accurate molding, which helps in the manufacture of master molds and other similar products. The industrial sector has been expanding at a healthy rate, and the need for improved tools has become essential.
The leaders in the epoxy tooling board market are putting in place new growth strategies like joint ventures and new facilities to expand their reach around the world. For Instance, Huntsman Corporation, a company based in the United States, opened a new factory in Vietnam. The main focus of the building will be on research and development, a service center, and making advanced materials and polyurethanes. New business growth strategies by market leaders can have a positive impact on the growth of the epoxy tooling board market in the upcoming years.
Global Epoxy Tooling Board Market Trends
Use of Epoxy Tooling Board in Wind Blade Manufacturing has Increased
The market for epoxy tooling boards is growing because more and more wind turbine blades are being made with epoxy resins. Epoxy tooling boards are being made by manufacturers for wind turbines to make it easier to make modules, models, and tools. Also, as large wind turbines become more common, epoxy resins are quickly replacing polyester as the matrix of wind blade composites. This is because epoxy resins are better than polyester resins in many ways. Epoxy tooling board is used for making prototypes for various end-use industries. Manufacturers are focusing on offering wind blade molds with quality, better dimensional control, and at an affordable rate. Recently, there has been a rise in demand for tooling boards, and hence, a few companies are developing a wide variety of tooling boards with various densities that are suitable for designing models, prototypes, and production fixtures. Companies are also developing large-size and smooth-surface epoxy tooling boards to make them compatible with standard epoxy adhesives.
In 2021, the total amount of wind power installed around the world was about 837 gigawatts. Most of the wind power capacity that year, about 780 gigawatts, came from onshore wind farms. The largest wind power market in the world is China, with a capacity of over 237 gigawatts of installed wind power. China has a large land mass and a long coastline, which makes it a great place for wind power. At first, China set ambitious goals for adding offshore wind capacity. However, offshore development has moved slower than expected because many domestic turbine manufacturers lack experience.
Rising in Development of Prototype for Race Cars, Aerospace, and Motorsports Vehicles
Tooling boards are great for making prototypes, but they are also used in the aerospace and automotive industries for vacuum forming, machining, prepreg composite layup tools, pattern making, high-temperature curing prepreg, and other limited-run tooling applications. The use of 3D printing has increased in recent years. Epoxy tooling boards are used on a large scale in developing prototypes for race cars, vehicles used in motorsports, and in the aerospace industry. Lightweight and more economical than aluminum and steel have increased the popularity of epoxy tooling boards across industries. Rapid prototyping is gaining traction across the automotive and aerospace industries to simplify and shorten the product development cycle while also improving cost efficiency. Hence, there is a growing demand for epoxy tool boards offering rapid tooling techniques. Manufacturers in the aerospace and automotive industries are focusing on prototypes throughout the process with epoxy molds as these are fast, as compared to machine molds, and they are also creating an inexpensive way to create a prototype in the aerospace and automotive industries. Due to the strict regulations by governments, manufacturers are focusing on lightweight aircraft and testing models created using tooling boards, which is driving the demand for epoxy tooling boards while offering a low-cost solution and quick mold preparation.
Global Epoxy Tooling Board Industry Overview
There are both big global players and small and medium-sized local players in the market, and quite a few of them have a big share of the market. Some of the major players are Trelleborg AB, RAMPF Tooling Solutions, Huntsman Corporation, Sikaaxson, and Guangzhou LiHong Mold Material Co., etc.
Global Epoxy Tooling Board Market Leaders
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Trelleborg AB
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RAMPF Tooling Solutions
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Huntsman Corporation
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Sikaaxson
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BCC Products Inc.
*Disclaimer: Major Players sorted in no particular order
Global Epoxy Tooling Board Market News
- August 2022: Trelleborg AB, a Swedish engineering company, agreed to pay USD 1 billion in cash to buy Minnesota Rubber and Plastics, which is owned by KKR. In 2018, KKR bought Minnesota Rubber and Plastics from Norwest Equity Partners, which was also a private equity firm.
- August 2022: Huntsman Corporation said it had reached a final agreement with Archroma, a company owned by SK Capital Partners, to sell its Textile Effects division. The total enterprise value of the deal is about USD 718 million. This includes USD 125 million in net underfunded pension liabilities as of December 31, 2021, which will be taken on by the buyer.
Epoxy Tooling Board Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Increased demand for bio-based materials
- 4.2.2 Advanced Manufacturing
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4.3 Market Restraints
- 4.3.1 Establishing efficient distribution networks to meet global demand while minimizing transportation costs is a logistical challenge.
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 By Density
- 5.1.1 600-800 kg/m3
- 5.1.2 800-1000 kg/m3
- 5.1.3 Above 1000 kg/m3
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5.2 By Application
- 5.2.1 Aerospace
- 5.2.2 Automotive
- 5.2.3 Marine
- 5.2.4 Wind Energy
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5.3 Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Mexico
- 5.3.1.4 Rest of North America
- 5.3.2 Europe
- 5.3.2.1 Germany
- 5.3.2.2 United Kingdom
- 5.3.2.3 France
- 5.3.2.4 Russia
- 5.3.2.5 Spain
- 5.3.2.6 Rest of Europe
- 5.3.3 Asia-Pacific
- 5.3.3.1 India
- 5.3.3.2 China
- 5.3.3.3 Japan
- 5.3.3.4 Rest of Asia-Pacific
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.5 Middle East
- 5.3.5.1 United Arab Emirates
- 5.3.5.2 Saudi Arabia
- 5.3.5.3 Rest of the Middle East
6. COMPETITIVE LANDSCAPE
- 6.1 Vendor Market Share
- 6.2 Mergers and Acquisitions
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6.3 Company Profiles
- 6.3.1 Trelleborg AB
- 6.3.2 RAMPF Tooling Solutions
- 6.3.3 Huntsman Corporation
- 6.3.4 Sikaaxson
- 6.3.5 Guangzhou LiHong Mould Material Co.
- 6.3.6 BCC Products Inc
- 6.3.7 Base Group
- 6.3.8 Curbell Plastics
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityGlobal Epoxy Tooling Board Industry Segmentation
Epoxy Tooling Board is a commonly used material, which produces highly accurate moulds and patterns, often using CNC machining. Epoxy is normally chosen for high-temperature applications where dimensional stability is essential, as it won't inhibit the cure of prepregs.
The global epoxy tooling board market is segmented by density (600-800 kg/m3, 800-1000 kg/m3, and Above 1000 kg/m3), application (aerospace, automotive, wind energy, and marine), and geography. North America (United States, Canada, Mexico, Rest of North America), Europe (Germany, United Kingdom, France, Russia, Spain, Rest of Europe), Asia-Pacific (India, China, Japan, Rest of Asia-Pacific), South America (Brazil, Argentina), Middle East (United Arab Emirates, Saudi Arabia, Rest of the Middle East). The report offers market size and forecast values in (USD) for all the above segments.
| By Density | 600-800 kg/m3 | |
| 800-1000 kg/m3 | ||
| Above 1000 kg/m3 | ||
| By Application | Aerospace | |
| Automotive | ||
| Marine | ||
| Wind Energy | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Rest of North America | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Russia | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | India |
| China | ||
| Japan | ||
| Rest of Asia-Pacific | ||
| Geography | South America | Brazil |
| Argentina | ||
| Geography | Middle East | United Arab Emirates |
| Saudi Arabia | ||
| Rest of the Middle East |
Epoxy Tooling Board Market Research FAQs
What is the current Global Epoxy Tooling Board Market size?
The Global Epoxy Tooling Board Market is projected to register a CAGR of less than 5% during the forecast period (2024-2029)
Who are the key players in Global Epoxy Tooling Board Market?
Trelleborg AB, RAMPF Tooling Solutions, Huntsman Corporation, Sikaaxson and BCC Products Inc. are the major companies operating in the Global Epoxy Tooling Board Market.
Which is the fastest growing region in Global Epoxy Tooling Board Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Epoxy Tooling Board Market?
In 2024, the Europe accounts for the largest market share in Global Epoxy Tooling Board Market.
What years does this Global Epoxy Tooling Board Market cover?
The report covers the Global Epoxy Tooling Board Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Epoxy Tooling Board Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Global Epoxy Tooling Board Industry Report
Statistics for the 2024 Global Epoxy Tooling Board market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Global Epoxy Tooling Board analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
