The global tooling board market revenue is expected to expand at a lucrative CAGR over the forecast period. Rising demand for tooling board in end-use industries such as automotive, construction & architecture, and aerospace & defense industries owing to its properties such as high dimensional stability and cost-effective is expected to be a major factor driving revenue growth of the market.
The global tooling board market report has been segmented on the basis of material, application, and region.
On the basis of the material, the global tooling board market has been segmented into polyurethane, epoxy resin, and others. The epoxy resins segment is expected to grow at high CAGR over the forecast period owing to properties such as high surface finish, high strength, dimensionally stable, and high-temperature resistance.
On the basis of application, the global target market has been segmented into automotive, aerospace & defense, marine, wind energy, and others. The automotive segment is expected to witness higher growth rate over the forecast period. Growing production of automobiles in countries such as India, China, Argentina, Germany, Thailand, and Vietnam is expected to augment revenue growth of segment over the forecast period.
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On the basis of region, the global tooling board market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific market is expected to grow at a steady rate over the forecast period. Growing production of automobiles in the region is expected to support revenue growth of Asia Pacific tooling board market. Moreover, the growing manufacturing industry in China and India is expected to drive revenue growth of Asia Pacific tooling board market.
Key players operating in the global tooling board market include Huntsman Advanced Materials LLC, Goldenwest Manufacturing Inc., General Plastics Manufacturing Company, Coastal Enterprises, Inc., Axson Technologies, Trelleborg AB, Curbell Plastics, Inc., Sika AG, RAMPF Holding GmbH & Co. KG, and Base Group.