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.
U.S. tooling board market
revenue by product, 2014 - 2025 (USD Million)
Browse full research report on
Tooling Board Market: http://www.grandviewresearch.com/industry-analysis/tooling-board-market
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
Access Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-tooling-board-market
About Grand View Research, Inc:
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more information: http://www.grandviewresearch.com
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