Global Tooling Board Market Report and Forecast 2024-2032

Global Tooling Board Market Outlook

The global tooling board market reached a value of about USD 11.02 billion in 2023. The market is further expected to grow at a CAGR of 4.5% in the forecast period of 2024-2032 to reach a value of approximately USD 16.35 billion by 2032.

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Increasing Demand for Polyurethane tooling board to Augment the Tooling Board Industry Growth

Based on product, the polyurethane segment accounts for a significant share in the tooling board industry. Polyurethane-based materials are commonly used because they can be used at lower temperatures in comparison to epoxy-based products. Furthermore, as opposed to epoxy tooling boards, the former is less costly, more durable, and simpler to cut and treat. In addition, the increasing utilisation of polyurethane in CNC machined plugs and moulds in the composites industry and the growing shift towards low density polyurethane due to its moisture barrier properties are expected to further boost the market growth.

North America to Provide Enhanced Growth Opportunities to the Tooling Board Industry

Region-wise, North America, led by the United States, is expected to grow steadily as a result of technical advances in the automotive and aerospace industries. The stringent legislation aimed at improving vehicle performance, combined with a need for environmentally friendly products, could spur regional industry development. Additionally, the increasing demand for sustainable and recyclable materials for producing these goods, along with an increase in consumers' living standards, is expected to further drive the market growth in the forecast period.

Tooling Board: Market Segmentation

Tooling boards are composed of polymer-filled materials. When these boards are bonded together, they shape larger blanks and blocks that are used to produce models of CNC-machined tooling. Tooling boards are in high demand due to their various applications. To mention a few uses, tooling boards are used for light metal bending, CNC hold downs, fixtures, RTM equipment, templates, designs, and master tooling. Tooling boards can be used in a variety of fields, including automobile, aerospace, and packaging, as well as FRP shops, metal stamping shops, and sign manufacturing, due to their many practical applications.

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By product, the market is divided into:

• Polyurethane
• Epoxy 
• Others

The market is divided based on application into:

• Aerospace and Defence
• Automotive
• Marine
• Wind Energy
• Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Increasing Demand in Major Application Sectors and the Rapid Technological Advancements to Throttle the Growth of the Tooling Board Industry

The global tooling industry has been driven by the growing demand for tooling board in major application sectors, including automotive, maritime, and aerospace, among others to create prototypes, patterns, and reusable tools. The growing need to reduce manufacturing cost and increase production rates in different industries is further enhancing the product demand. The potential of epoxy or polyurethane tooling boards to provide reduced autoclave curing time needed for manufacturing advanced composites parts and moulds, especially in the aerospace industry, is also propelling the market. The production of mined mineral composites, on the other hand, may prove to be a constraint for the tooling board industry.

Over the forecast period, the development of technologically advanced vehicles with higher fuel economy, lighter weight, high performance, and perfect streamlining as well as an increase in R&D investment and an increase in sales volume of cars, are expected to positively affect the industry growth.

Key Industry Players in the Global Tooling Board Market

The report gives a detailed analysis of the following key players in the global tooling board market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Huntsman International LLC
• General Plastics Manufacturing Company 
• Curbell Plastics, Inc. 
• Alchemie Ltd.
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report