Sheet and Bulk Molding Compound Market to offer a healthy CAGR of 8.2% during 2020-25
February 17, 2020
Sheet and Bulk Molding Compound Market Overview:
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.
Report Overview:
This new report from Stratview Research analyses the Sheet and Bulk Molding Compound Market over the trend period from 2014 to 2019 and forecast period from 2020 to 2025. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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Sheet and Bulk Molding Compound Market Segment Insights:
Fiber Type: glass fiber and carbon fiber
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.
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Resin Type: polyester and others
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.
Application Type: transportation, electrical & electronics and others
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.
A highly/moderately/fragment consolidated Market
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.
Region: Asia-Pacific is the largest consumer of SMC and BMC respectively
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.
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