Tooling Resin Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

Widely consumed by manufacturers of composite molds and tooling boards, tooling resin is currently witnessing notably growing demand in tooling boards manufacturing segment that prominently serves companies designing prototypes of automotive and aerospace parts and components. The advent of additive manufacturing and widespread penetration of 3D printing technology also advocate for positive revenue growth prospects of tooling resin market.

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In addition to a strong impetus by thriving automotive and aerospace manufacturing industries, tooling resin continues to enjoy elevating demand from the spectacularly expanding electronic products industry. Exponentially growing demand for tooling resin as a high-performance potting and encapsulating compound for electronic device components will remain one of the most significant push factors associated with the revenue growth of tooling resin marker over the foreseeable future.

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Competition Analysis: Global Tooling Resin Market

While the competitive landscape of global tooling resin market appears to be fairly fragmented, a majority of strategic developments remain concentrated at the top ranking companies in tooling resin market. Product innovations and new launches are observed to be among the key strategies adopted by a number of players active across the tooling resin market structure.

Several manufacturers of tooling resins are also increasing their R&D investments in innovative formulations with an intent to achieve functional superiority over conventional tooling resin types, which points to widening scope of growth for the global tooling resin market.

Solvay S.A. recently signed an agreement with Boeing over the materials supply for the 777X Airplane Production Program. The company has recently entered strategic partnership with Composites One LLC, North America’s leader in composites material distribution. While this regional distribution network agreement is supposed to enhance the former’s ability in terms of serving the entire composites landscape, it will prominently focus on strengthening distribution network for tooling product lines (including tooling prepreg and thereby tooling resins) and process materials across North America.
Huntsman Corporation recently acquired the Hampshire-based Miralon manufacturer - Nanocomp Technologies Inc. With this deal, the former intends to extend their existing specialty chemicals portfolio that prominently includes tooling resins. More recently, Huntsman Advanced Materials Americas LLC announced increase in the prices of their entire epoxy resins line.
Sika AG announced the new name of their SikaAxon business unit - Sika Advanced Resins. The company has taken this step to reposition the brand in global specialty chemicals and tooling marketplaces. Sika with this deal aspires a leading position across the competitive landscape of high-performance polyurethane and epoxy tooling resins that would also reflect substantial consumption potential across other segments including dielectrics and composites.
In response to the challenges related to future primary structures facing OEMs, Hexcel Corporation recently launched a novel trademark lineup of next-generation tooling resins - HiFlow™ Resins. These high performance-reinforcing liquid resins that prominently find high applicability in manufacturing of aerospace structures are also designed to cater to application demands of automotive, marine, and wind energy segments.

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Automotive, aerospace, & wind energy storing major opportunities

In addition to significant growth of automotive and aerospace manufacturing industries, growing use of tooling resin by the wind turbine manufacturing industry is prompting at a positive revenue growth outlook of the tooling resin market. Elevating production of composite materials, coupled with a flourishing outlook of the automotive production, is spurring demand for protective, anti-corrosive tooling resins in vehicle manufacturing applications. In recent years, escalating resin consumption has been observed in applications for wind turbine blades manufacturing.

Epoxy tooling resins gathering manufacturing interests

While tooling resin remains a preferred choice among manufacturers attributed to its excellent bonding ability with a host of materials including wood, glass ceramics, metals, stone & concrete, and leather, research affirms that the non-toxic attribute remains a major competitive benefit for the types of tooling resin. Epoxy-based tooling resin especially makes an excellent manufacturing material that has exceptional tensile, mechanical, flexural, and compressive strength; the resultant applicability in an extensive range of end use verticals thus accounts for the growth of tooling resin market.

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