The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The global tooling board market is expected to reach USD 14.31 billion by 2025, according to a new report by Grand View Research, Inc. Prototyping techniques are witnessing an increase in demand owing to the advent of advanced technologies that utilize minimal resources and create prototypes that are highly similar to the final or desired product.
Tooling board are used for creating durable bonds, prototypes, models, reusable tools and patterns with the help of CNC machines. Implementation of stringent performance and safety standards across the automotive, aerospace, manufacturing, and other industrial sectors has generated high demand for durable prototypes that can actually withstand conditions of the final product.
These factors, along with favorable product characteristics, such as the excellent dimensional stability, high temperature resistance, and durability of rigid PU foam& epoxy have made the material an ideal choice for prototyping. Polyurethane are widely used for manufacturing prototypes, models, composting tooling, laminating, fixtures, molds & plugs and several other industrial products.
Manufacturers are always challenged to cut costs and reduce expenses through lower tooling costs while still providing a quality product to their customers. Manufacturers are attempting to lower aircraft weight and even testing models created using tooling boards to comply with stringent regulations and testing standards.
Further key findings from the report suggest:
- The global tooling board demand was worth USD 9,318.8 million in 2016 and is expected to grow at a CAGR of 5.0% from 2017 to 2025
- Polyurethane emerged as the dominant product segment in 2016 and is estimated to generate revenue over USD 9,563.1 million by 2025. Excellent dimensional stability and good aesthetics of polyurethane allow it to be formed into various shapes using minimal effort
- Europe is expected to observe the significant regional segment over the next eight years with an estimated CAGR in terms of revenue of around 4.7% from 2017 to 2025
- Huntsman Corp. has made a critical tooling technology breakthrough with the initiate of a new PU resin system that cures quickly and allows the production of high heat stable tooling, modeling, and prototyping boards
- Epoxy was the second largest product segment and accounted for 22% of the overall revenue in 2016
- Epoxy is used for prototyping application owing to its unique combination of excellent surface finish and high temperature resistance. They also offer lower cost solutions, low coefficient of thermal expansion, quick mold preparation and compatible with tooling prepreg in an inert surface
- OBO-Werke announced its plan to acquire Huntsman’s European tooling board and tooling paste materials business
- Key players including Huntsman Corp., Axson Technologies, Trelleborg AG and Curbell Plastics Inc. dominated the global tooling board market accounting for significant share of the total volume in 2016