The Tooling Board Market is segmented by End-Use Industry Type (Transportation, Aerospace, Wind Energy, Marine, and Others), Product Type (Epoxy Tooling Board and Polyurethane Tooling Board), Application Type (Composite Applications and Non-Composite Applications [Design & Styling, Model & Tooling, and Others]), Density Type (600-800 kg/m3, 800-1000 kg/m3 and above 1000 kg/m3), and Region (North America, Europe, Asia-Pacific, and the Rest of the World).

Market Driver

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.

Segment Analysis

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.

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.

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.

Regional Analysis

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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