31-Aug-2021 | Zion Market Research
Major companies in Sheet-Molding Compound and Bulk-Molding Compound market are Continental Structural Plastics, Core Molding Technologies Inc., Astar, Citadel Plastics Holdings Inc., IDI Composites International, Menzolit GmbH, Royal Tencate, Showa Denko K.K., Shubhada Polymers Products Pvt. Ltd., AMOD GROUP, Crest Speciality Resins Pvt Ltd, Mahindra CIE,
According to analysts at Zion Market Research, the Sheet-Molding Compound and Bulk-Molding Compound market accounted for more than USD 3.3 Billion in 2020 and is expected to reach more than USD 5.8 Billion by 2028, growing at a CAGR of 7.2% from 2021 to 2028.
This review is based on a report by Zion Market Research, titled “Sheet-Molding Compound and Bulk-Molding Compound Market By Fiber Type (Glass Fiber, Carbon Fiber), By Resin Type (Unsaturated Polyester, Vinyl-Ester, and Others), By End-Use Industry (Transportation, Electrical, Construction, Automotive, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.”
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Sheet-molding compounds (SMC) are used in various applications in the automotive sector such as hoods, deck-lids, bonnets, front ends, and spoilers. However, bulk-molding compounds (BMC) are used in several automotive parts such as ignition parts, headlight liners, and valve covers. Sheet-molding compounds and bulk-molding compounds offer immense superior features compared to other traditional compounds, which are made up of iron and steel. These compounds are highly demanding in the automotive sector for fuel-efficient vehicles.
Global- Sheet-Molding Compound and Bulk-Molding Compound -Market
The global market is experiencing higher growth owing to increasing automation, integration of entire value chain of the process industries, and technological advancements. Moreover, growth in the transportation industry is anticipated to fuel the global sheet-molding compound and bulk-molding compound market growth in the future. Increasing urbanization further enhances the global market. The sheet-molding compound and bulk-molding compounds are highly utilized in the transportation application due to properties such as lightweight and good mechanics. Moreover, the escalating demand for fuel-efficient vehicles also acts as a crucial component in the growth of the global sheet-molding compound and bulk-molding compound market. These compounds comprise properties such as good electrical insulation, high corrosion resistance, fire & flame resistance, and high strength and rigidity, which provide ample growth opportunities in the global sheet-molding compound and bulk-molding compound market. Increasing consumer awareness regarding the flow control and growth in urbanization may propel the global market growth in the next few years.
Presence of Big Players In The Region Support North American Dominance
Asia Pacific dominated the global Sheet molding compound & bulk molding compound market in 2018 because the region comprises relatively developing countries that require cost-effective manufacturing facilities and low labor cost. The automotive sectors, along with the other sector, proved to be the major consumers of these Sheet molding compound & bulk molding compound. The Asia Pacific region is expected to grow the market during the forecast period. China, Singapore, South Korea, Japan, and India are considered the main industrial hubs and offer tremendous growth opportunities for the Sheet molding compound & bulk molding compound market in this region.
Browse the full “Sheet-Molding Compound and Bulk-Molding Compound Market By Fiber Type (Glass Fiber, Carbon Fiber), By Resin Type (Unsaturated Polyester, Vinyl-Ester, and Others), By End-Use Industry (Transportation, Electrical, Construction, Automotive, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.” Report at https://www.zionmarketresearch.com/report/sheet-molding-compound-bulk-molding-compound-market
The Sheet-Molding Compound and Bulk-Molding Compound market is segmented as follows:
By Fiber Type
By Resin Type
By End-Use Industry
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