The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Epoxy Tooling Board Market.
It was estimated prior to this unanticipated outbreak that the Epoxy Tooling Board Market was expected to grow at a CAGR of 5.9% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
For a more detailed breakdown of the COVID-19 impact on the Epoxy Tooling Board Market, request a free sample of the report here:
Epoxy tooling board is used to develop prototypes and moulds with high accuracy. It is used for developing master models of different parts in the aerospace industry, automotive die models, lay-up tools for low and medium temperature curing epoxy prepregs and lightweight core materials.
Epoxy tooling board offers excellent dimensional stability even under high temperature conditions, superior surface finish, chemical compatibility with tooling prepregs.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Based on the end-use industry type, the market is segmented as transportation, wind energy, aerospace, marine, and others. The transportation industry held the largest share of the market in 2019, and is expected to remain dominant during the forecast period. The wind energy segment is expected to grow at the highest CAGR during the forecast period, owing to increasing demand for epoxy tooling board for wind blade application.
Based on the density type, the epoxy tooling board market is segmented as 600-800 kg/m3, 800-1000 kg/m3, and above 1000 kg/m3. The 600-800 kg/m3 segment dominates the market as they are widely used in various end-use industries.
In terms of regions, Europe is expected to be the dominant, whereas Asia-Pacific is estimated to be the fastest-growing market for epoxy tooling board during the coming five years. The highest growth of the Asia-Pacific region is attributed to the high growth of transportation and aerospace industries in the region. North America and Asia-Pacific are also likely to offer substantial growth opportunities during the forecast period.
Some of the major epoxy tooling board manufacturers are-