Bulk moulding and sheet moulding compounds are favoured by manufacturers and major players due to their minimal weight and durability. For instance, a lightweight SMC is preferred in the Mercedes-AMG GT C Roadster. Additionally, glass sheet moulding compound was used in Lexus in 2018 to address weight-related difficulties.
Additionally, these elements will cause the worldwide moulding compound and bulk moulding compound market to have a consistent CAGR (compound annual growth rate), offering excellent possibilities for market participants to seize.
With the introduction of bulk moulding and sheet moulding compounds of higher quality, that are lighter and more durable, the global market for these materials is anticipated to grow. Numerous top manufacturers are progressively using these compounds due to their better line throughputs and cheaper production costs. The market for sheet moulding compound and bulk moulding compound offers considerable growth prospects as an increasing number of high-tech autos and luxury brands use SMC components.
The Mercedes-AMG GT C Roadster, for instance, has a lightweight boot lid made of SMC. The 2018 Lexus LC 500 uses glass sheet moulding compound to save weight in a similar way. The CRFP sheet moulding compound is used to create the interior panels for the trunk and doors of the car.
Impact of COVID-19
The COVID-19 outbreak has altered the growth expectations for several industries and companies. After the epidemic struck, the analysts at TMR Research diligently surveyed the markets. The paper contains the smart and thoroughly studied thoughts of the analysts. The stakeholders can better design their strategy with the help of the opinions. Market for Bulk and Sheet Molding Compounds Worldwide: Overview
Modern applications use Sheet Molding Compound (SMC), a ready-to-mold polymer matrix composite material with glass fibre protection. This is possible because it can be shaped into intricate patterns. On the other side, bulk moulding compound (BMC) is a mixture of cut glass strands and resin that is delivered in bulk or log form. BMC can be used for injection or compression moulding. Electrical, automotive, transportation, aerospace, construction, marine, and consumer industries are a few end-use industries that use SMCs and BMCs.
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Drivers and Trends in the Global Sheet Molding Compound and Bulk Molding Compound Market
Bulk and sheet moulding materials are both lightweight and robust. They provide good electrical insulation and are resistant to fire, corrosion, and stains. SMC and BMC are favoured over conventional materials like steel, iron, and aluminium due to their numerous distinctive perceived benefits. They are being used more frequently in the expanding automotive industry. Automobile bonnets, hoods, front ends, decklids, and spoilers, for instance, are made of sheet moulding compounds. Additionally, bulk moulding materials are employed in a number of vehicle components, including headlight liners, ignition components, and valve covers. The market will experience significant growth in the coming years as a result of the rapid sale of vehicles, particularly those that are fuel-efficient. The world is becoming increasingly urbanised.
Regional Outlook for the Global Sheet Molding Compound and Bulk Molding Compound Market
Due to the region’s strong demand for automobiles and quick industrialization, Asia Pacific currently dominates the worldwide sheet moulding compound and bulk moulding compound markets. The market is expected to grow more quickly in the near future due to the same characteristics. In fact, China-driven growth in the Asia Pacific region is expected to outstrip that of all other significant geographic regions in the next years. China has become a major role in the Asia Pacific region thanks to the abundance of electrical and vehicle manufacturers, which is a result of lower raw material prices. It is the region’s top producer and user of SMC and BMC.
In the market for sheet moulding compound and bulk moulding compound, Asia Pacific is ahead of Europe. North America, which is driven by the U.S. as the primary driver of economic growth, is next.
Businesses Listed in the Report
The report includes company profiles for Menzolit GmbH, IDI Composite International, Showa Denko K.K., Citadel Plastics Holding Inc., Continental Structural Plastics Inc., Polynt S.P.A., Core Molding Technologies Inc., and Royal Tencate in order to provide an in-depth analysis of the competition present in the global sheet moulding compound and bulk moulding compound market.
Key Market Players
Some of key players 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, and among others.
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- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa