Epoxy Tooling Board Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Key Highlights

• The global epoxy tooling board market is estimated to record a CAGR of approximately 5% during the forecast period.
• Epoxy tooling board manufacturers are boards for a distinct range of applications, including creating product prototypes and assembly fixtures. Epoxy is used for prototyping applications due to its unique combination of excellent surface finish and high-temperature resistance. 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 applications due to its unique combination of excellent surface finish and high resistance to temperature. Rising demand for the prototypes of formula one car and aircraft is one of the major factors driving the market. They are designed to exhibit high strength, dimensionally stable board for tooling jigs, and building precise patterns and models. High compression resistance, thermic resistance, chemical stability, low thermic expansion, and easy to polish are some of the other features offered by epoxy tooling board manufacturers. The demand within the global market for epoxy tooling board has been increasing on account of developments in the field of industrial tooling. Epoxy boards help in 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.

Key Market Trends

Use of Epoxy Tooling Board in Wind Blade Manufacturing has Increased

The growing demand for epoxy resins in the fabrication of blades in wind turbines is increasing the growth of the epoxy tooling board market. Manufacturers are offering epoxy tooling boards for wind turbines to simplify fabrication of modules, models, and tools. Also, with the increasing development of large wind turbines, epoxy resins are rapidly replacing polyester and are emerging as the matrices of wind blade composites and offering better advantages over polyester resins. Epoxy tooling board is used for making prototypes for various end-use industries, Manufacturers are focusing on offering wind blade mold with quality, better dimensional control, and at an affordable rate. Recently, there has been a rise in tooling boards demand, and hence, few companies are developing a wide variety of tooling boards with various densities that are suitable for designing models, prototype, and production fixtures. Companies are also developing large size and smooth surface epoxy tooling boards to make them compatible with standard epoxy adhesives.

Rising in Development of Prototype for Race Cars, Aerospace, and Motorsports Vehicles

Tooling boards are ideal for prototype production, but they are also being utilized for vacuum forming, machining, prepreg composite layup tools, pattern making, high-temperature curing prepreg, and other limited-run tooling applications in the aerospace and automotive industries. Usage of 3D printing is increasing in prototype and it increased to 55% in 2018. 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 along with cost-efficiency. Hence, there is a growing demand for epoxy tooling board offering rapid tooling technique. Manufacturers in the aerospace and automotive industries are focusing on prototype 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.

Competitive Landscape

The report covers the major players operating in the global epoxy tooling board market. The market is fragmented in nature with the presence of large global players and small- and medium-sized local players, with quite a few players who occupy the market share.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support