(MENAFN- GlobeNewsWire - Nasdaq) The Global Epoxy Tooling Board market Size was Valued at USD 8964.4 Million in 2023 and the Worldwide Epoxy Tooling Board Market Size is Expected to Reach USD 12364.4 Million by 2033, according to a research report published by Spherical Insights & Consulting. Companies covered: Huntsman Corporation, Axson Technologies, Trelleborg AB, General Plastics manufacturing Company, RAMPF Group Inc, Base Group, Alro Plastics, Coastal Enterprises Inc, Demacq Recycling Company., Sikaaxson, BCC Products Inc., Stevik, Guangzhou LiHong Mould Material Co., Ltd, Curbell Plastics Inc., and other key companies.
New York, United States, July 07, 2024 (GLOBE NEWSWIRE) -- The Global Epoxy Tooling Board Market Size is to Grow from USD 8964.4 Million in 2023 to USD 12364.4 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 3.27% during the projected period.
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Molds, prototypes, and patterns are commonly made in manufacturing processes using a specialized substance called epoxy tooling board. Phenol is the main component of epoxy resins. This method is used in several industrial industries to make fixtures, master molds, castings, molds, and more. These boards are made from a variety of materials, including polyurethane and epoxy resins. Two basic procedures that can be used to make them are laminating and casting. These products have many benefits, including strong compression resistance, easy polishing, heat and thermic resistance, low thermic expansion, and excellent surface finish. The automotive, marine, and aerospace industries all commonly use epoxy tooling boards. The epoxy tooling board business developed as a result of these industries' development and expansion. These tooling boards offer several benefits more traditional materials like metal and wood. They offer excellent dimensional stability, a low coefficient of thermal expansion, strong temperature resistance, and are very well machinable. These qualities make them more appealing to manufacturers seeking accurate and durable tooling systems. However, epoxy tooling boards are more expensive when compared to other conventional tooling materials like steel, aluminum, or wood. They are not as extensively employed as they can be, particularly in smaller-scale projects or industries with more limited resources.
Browse key industry insights spread across 228 pages with 110 Market data tables and figures & charts from the report on the " Global Epoxy Tooling Board Market Size, Share, and COVID-19 Impact Analysis, By Type (Polyurethane (PU), Epoxy, and Others), By Density (600-800 kg/m3, 800-1000 kg/m3, and Above 1000 kg/m3), By Application (Aerospace and Défense, Automotive, Wind Energy, and Marine), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033. "
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The polyurethane segment is anticipated to hold the greatest share of the global epoxy tooling board market during the projected timeframe.
On the basis of type, the global epoxy tooling board market is divided into polyurethane (PU), epoxy, and others. Among these, the polyurethane segment is anticipated to hold the greatest share of the global epoxy tooling board market during the projected timeframe. Many industries use polyurethane for model and prototype applications due to its exceptional machinability, safety in workshop environments, and temperature stability. This widespread use is expected to have a favourable effect on product demand.
The 600-800 kg/m3 segment is anticipated to grow at the fastest pace in the global epoxy tooling board market during the projected timeframe.
On the basis of density, the global epoxy tooling board market is divided into 600-800 kg/m3, 800-1,000 kg/m3, and above 1,000 kg/m3. Among these, the 600-800 kg/m3 segment is anticipated to grow at the fastest pace in the global epoxy tooling board market during the projected timeframe. It can be used at a wide variety of temperatures to make master models and patterns in many end-use industries, resulting in most appropriate tooling board segment.
The aerospace and defense segment are predicted to grow at the highest pace in the global epoxy tooling board market during the estimated period.
On the basis of application, the global epoxy tooling board market is divided into aerospace and defense, automotive, wind energy, and marine. Among these, the aerospace and defense segment are predicted to grow at the highest pace in the epoxy tooling board market during the estimated period. The growing need for economically priced, dimensionally stable, high-temperature resistant tooling boards that may replace more costly metal and wooden molds is one of the main factors projected to drive product demand.
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North America is expected to hold the largest share of the global epoxy tooling board market over the forecast period .
North America is expected to hold the largest share of the global epoxy tooling board market over the forecast period. A major factor in the region's requirement for rapid prototyping is its focus on contemporary manufacturing technology. North America leads the world in epoxy tooling board market share. The industrial sectors in the US and Canada are well-established, especially in the automobile and aerospace sectors.
Asia Pacific is predicted to grow at the fastest pace in the global epoxy tooling board market during the projected timeframe. Asia Pacific's epoxy tooling board market is growing rapidly due to rapid industrialization and robust growth in the electronics and automotive production sectors. The region's dynamic market conditions make it a prominent player in the global platform.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Epoxy Tooling Board Market Include Huntsman Corporation, Axson Technologies, Trelleborg AB, General Plastics Manufacturing Company, RAMPF Group Inc., Base Group, Alro Plastics, Coastal Enterprises Inc., Demacq Recycling Company, Sikaaxson, BCC Products Inc., Stevik, Guangzhou LiHong Mould Material Co., Ltd, Curbell Plastics Inc., and other key companies.
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Recent Developments
In 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.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global epoxy tooling board market based on the below-mentioned segments:
Global Epoxy Tooling Board Market, By Type
Polyurethane (PU) Epoxy Others
Global Epoxy Tooling Board Market, By Density
600-800 kg/m3 800-1000 kg/m3 Above 1000 kg/m3
Global Epoxy Tooling Board Market, By Application
Aerospace Automotive Wind Energy Marine
Global Virtual Warehousing Market, By Regional
North America Europe Germany UK France Italy Spain Russia Rest of Europe
Asia Pacific China Japan India South Korea Australia Rest of Asia Pacific
South America Brazil Argentina Rest of South America
Middle East & Africa UAE Saudi Arabia Qatar South Africa Rest of the Middle East & Africa
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