The global tooling resin market is forecast to grow at a CAGR of 6.9% from 2017 to 2022. Tooling resin is used to make tooling boards and composites molds. The major driver of growth for this market is the increasing demand for tooling boards used for prototypes of automotive and aerospace parts.
Emerging trends, which have a direct impact on the dynamics of the tooling resin industry, include increased demand for high temperature polyurethane resin to manufacture tooling boards.
On the basis of its comprehensive research, the report forecasts that the transportation and wind energy segments are expected to show above average growth during the forecast period.
Within the global tooling resin market, transportation is expected to remain the largest market by volume and value consumption. Growing demand for lightweight materials in the automotive industry is expected to spur growth for this market over the forecast period.
Europe is expected to remain the largest region because major automotive and aerospace parts manufacturers are located in there. Furthermore, the demand for tooling boards is growing for developing prototypes for formula one cars, motorsports vehicles, lightweight passenger vehicles, and in the aerospace industry.
Cytec Solvay Group
DOW Chemical Company
RAMPF Tooling Solutions GmbH and Co. KG
Key Topics Covered:
1. Executive Summary
2. Market Background and Classifications
3. Market Trends and Forecast Analysis from 2011 to 2022