Sheet and Bulk Molding Compound Market to experience an impressive growth of 8.2 % during 2020-2025
February 03, 2020
Sheet and bulk molding compound market is likely to witness an impressive CAGR of 8.2% during the forecast period. The global SMC and BMC market registered significant growth in the earlier few years, bearing high claim for lightweight and remarkable mechanical properties material, in the U.S., Germany, and emerging economies, such as Brazil, the Middle East, and China. The burgeoning transportation and electrical & electronics sectors in these countries are driving the growth of the sheet and bulk molding compound market globally.
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Sheet and Bulk Molding Compound Market Segment Insights:
By Fiber Type:
Based on the fiber type, the market is segmented as glass fiber and carbon fiber. The glass fiber segment leads the market, owing to its cost-effectiveness and easy availability. The mechanical characteristics of SMC and BMC are chiefly governed by the category of reinforcement. Carbon fiber is generally employed as reinforcement where elevated strength and sturdiness are demanded. Owing to the greater cost of carbon fiber, it is used in smaller amount.
By Resin Type:
Based on the resin type, the market is segmented as polyester and others. The polyester segment is estimated to account for a larger share of the market in the coming five years. Further, polyester resins are expected to be the faster-growing segment during the forecast period. The growth is attributed to their unique properties, such as excellent dimensional stability, corrosion resistance, and chemical confrontation properties, which augment the durability of SMC and BMC materials. SMC and BMC composites based on polyester resin display superb fire- and flame-resistant characteristics, hence, they are being employed in electrical & electronics application.
By Application Type
Based on the application type, the market is segmented as transportation, electrical & electronics, construction, and others. The transportation application segment is estimated to be the fastest-growing segment during the forecast period for SMC, while the electrical & electronics segment is expected to be the fastest-growing segment in the coming five years for BMC. The growth is attributed to their exceptional properties, such as remarkable electrical insulation, surface appearance, along with outstanding mechanical properties, which make them the preferred choice over conventional materials in various end-use industries.
By Region:
In terms of regions, presently, Asia-Pacific is the largest consumer of SMC and BMC respectively. China, Germany, and Brazil are the growth engines of the region. The Asia-Pacific region is estimated to depict the highest growth during the forecast period. The market in the Middle East within the RoW region is anticipated to burgeon with the highest growth in the coming five years. The market is driven by the development of transportation and electrical & electronics sectors, which has led to the high demand for SMC and BMC in the region. North America and Europe are also expected to offer considerable growth opportunities during the forecast period.
By Key Players:
Some of the major players in the sheet and bulk molding compound market are Astar S.A., Citadel Plastics Holdings Inc., Core Molding Technologies Inc., Continental Structural Plastics Inc., Changzhou Runxia Fiberglass Products Co., Ltd., IDI Composites International, Menzolit GmbH, Polynt S.P.A, Royal Tencate N.V., and Showa Denko K.K.
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- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
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- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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