Global Epoxy Tooling Board Market: Global Opportunity Analysis and Industry Forecast, 2023-2030 Market

Epoxy tooling boards are used to generate accurate patterns and molds. Epoxy is a basic component of epoxy resins. This system is used in industries for the tooling process to produce fixtures, molds, castings, master molds, and more. These boards can be made out of materials like polyurethane, epoxy resins, and others. These can be manufactured using two basic operations that are laminating and casting. These products offer various features like excellent surface finish, heat resistance, thermic resistance, low thermic expansion, easy to polish, and high compression resistance. They hold major applications in industries like wind energy, aerospace, marine, transportation, and others.

COVID-19 Scenario analysis:

• Coronavirus has affected the import and export of construction materials. China is the largest exporter of construction materials globally. Negative trends in the economy of China are anticipated to reduce the global import and export throughout the globe.
• Demand for new construction materials have witnessed a massive negative shift since the corona outbreak in December 2019, with manufactures and investors fearing an excessively receding economic growth.
• Travel prohibitions around the globe have affected the trade of construction materials. Thus, the supply and demand for construction materials are almost halted throughout the globe.
• Construction materials manufacturing companies located in China, are the major sufferers of from the virus outbreak, owing to lockdown and unavailability of logistics in the region.
• The major hindrance for the global construction materials market comes from the orders of home quarantine by respective governments, which has led to the discontinuing of production of construction materials.
• Decreased consumer demand and consumption has led to reduction and slow down of sales of construction materials all over the globe over the course of the current economic year.
• Therefore, the global epoxy tooling board market is expected to be negatively affected in 2020.

Drivers, restraints, and opportunities

The rising need for higher production rates and less manufacturing costs in different industries like aerospace, marine, and automotive is a key factor that is expected to be a major driver for the global epoxy tooling board market due to its flawless material properties and cost-effectiveness. Besides, these systems offer a unique property that is minimized autoclave curing time for producing advanced molds and composite parts. This is another factor that can significantly boost the growth of the epoxy tooling board market in the next few years. Notable growth in end-use industries like aerospace and automotive industry is anticipated to create a positive impact on the growth of the epoxy tooling board market during the forecast period. However, emerging mined mineral composite materials is a restraining factor that can hamper the growth of the epoxy tooling board market. On the contrary, business expansion strategies by market leaders to increase their market reach in different countries can provide plenty of growth opportunities for the epoxy tooling board market in the upcoming years.

Trends in global epoxy tooling board market

New product offerings by market leaders to flourish the market

Epoxy tooling boards are the best viable option for the production of prototypes. The breathtaking speeds of race cars are attained with the aid of advanced tooling block technologies and rigorous testing and experimentation on their prototypes. The major objective of race car engineers is to manufacture cars that are lighter and stronger. To cite an instance, Trelleborg A.B, a U.K. based company offers seven types of tooling blocks. Among all the types of products, the TB650 is adopted by nearly 75 percent of the F1 teams due to its low density and dimensional stability. Also, the company launched its new dust-free eco-friendly tooling board named TC760X in 2020. The feature that makes this product unique is its ability to provide dust free machining process which results in fewer machine repairs that can enhance the efficiency of production and reduce costs. Such new product offerings with advanced features by market leaders can create a significant positive impact on the growth of the epoxy tooling board market in the upcoming years.

New business expansion strategies by market leaders

Market leaders in the epoxy tooling board market are implementing new growth strategies to increase their global reach through new joint ventures and new facilities. For instance, Huntsman Corporation, a U.S. based company inaugurated its new manufacturing facility in Vietnam in 2018. The facility will primarily emphasize advanced materials and polyurethanes including R&D, service center, and manufacturing. New business growth strategies by market leaders can create a positive impact on the growth of the epoxy tooling board market in the upcoming years. 

Key benefits of the report:

• This study represents the analytical representation of the global epoxy tooling board market combined with the ongoing trends and future predictions to determine investment opportunities.
• The present market is thoroughly analyzed to enlighten the global epoxy tooling board market growth.
• The report gives information regarding the important drivers, restraints, and opportunities provided with an in-depth analysis of the global epoxy tooling board market.
• Segmentation details of the global epoxy tooling board market.
• The report gives a comprehensive global epoxy tooling board market analysis based on competitiveness and how the performance of the competitors will take shape in the coming years. 

 Global Epoxy Tooling Board Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights