Global Sheet Molding Compound and Bulk Molding Compound Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2027

Global Sheet Molding Compound and Bulk Molding Compound Market Introduction:

“The global Sheet Molding Compound and Bulk Molding Compound Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

Sheet-molding compounds (SMC) are used in wide range of applications in automotive sector such as deck-lids, front ends, hoods, bonnets, and spoilers. Bulk-molding compounds (BMC) are used in various automotive parts such as headlight liners, ignition parts, and valve covers. The sheet-molding compounds and bulk-molding compounds offer immense excellent features compared to other conventional compounds, that are made up of steel and iron.

These compounds are highly needed in the automotive sector for fuel-efficient vehicles. Sheet molding compound and bulk molding compound composites that are based on the polyester resin offers flame and fire resistance properties, and thus, are being used in the electrical & electronics applications.

Dynamics

Increasing demand for sheet molding compounds and bulk molding compounds across various end-use industries such as automotive and construction is a major factor expected to drive growth of the target market over the next 10 years. In addition, increasing scope of its application in electrical and electronics industry is another key factor expected to support revenue growth of the global market over the next few years.

Various features offered by these composite materials such as flame and fire resistance, and others is another key factor estimated to fuel adoption of these products, which in turn is expected to fuel growth of the target market over the forecast period. Moreover, sheet molding compounds and bulk molding compounds have various applications in various industrial sectors, which in turn anticipated to drive growth of the global

Region Analysis

Asia Pacific sheet molding compound and bulk molding compound market is expected to account for significant share in terms of revenue in the global market. In addition, Asia Pacific market is also anticipated to register fastest growth in terms of revenue over the next few years, owing to increasing demand from automotive and construction industries in countries in this region.

In addition, increasing investments by various automotive manufacturers in various countries such as China and India in Asia Pacific, and rising demand for the products from various end-use industries are other key factors projected to drive growth of the Asia Pacific market in the next 10 years. The market in India is projected to account for significant share in terms of revenue in the Asia Pacific market.

Growing awareness regarding various properties offered by these composite materials among manufacturers in countries in this region are other factors expected to drive growth of end-use industries, which in turn is anticipated to support revenue growth of the target market in this region.

Global Market Segmentation:

Segmentation by fiber type:

• Glass Fiber
• Carbon Fiber

Segmentation by resin type:

• Polyester
• Others (vinyl ester, epoxy, phenolic, and PEEK resins)

Segmentation by application:

• Automotive & Transportation
• Electrical & Electronics
• Construction
• Others (industrial, medical, household appliances, and renewable energy)

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa