Portland, OR -- (SBWIRE) -- 07/27/2017 -- Molding Compounds are used for larger parts where higher mechanical strength is needed. Superior mechanical properties, surface appearance, excellent electrical insulation make molding compounds ideal for automotive body panels, high-strength electrical parts, business equipment cabinets, personal watercraft, and various other structural components.

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The major forces driving the molding compounds market are replacement of traditional materials with molding compound based products. These products offer superior properties including corrosion resistance, heat resistance, and dimensional stability. Lightweight and increase in fuel efficiency have always been the most important drivers for using molding compounds in the automotive industry. The benefits of reducing the weight of a passenger car or a heavy duty vehicle include lower fuel consumption and operating costs, resulting in fewer emissions as well.

This market is majorly dominated by the electrical application. They are widely used in automotive and aerospace applications, as they are flexible and can be molded into complex shapes and sizes. The increase in the demand for corrosion a heat resistant products, improved electrification and need for safety at home and commercial building, encourages use of reliable components such as molding compounds in electricals that are heat resistant and thermally stable and availability of new innovative products are the factors driving the molding compounds market.

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MOLDING COMPOUNDS MARKET SEGMENTS:

Market by Resin Type

-Phenolic
-Epoxy
-Polyester
-Others

Market by Application

-Electrical
-Automotive
-Aerospace
-Others

Market by Geography

North America
-U.S.
-Canada
-Mexico

Europe
-UK
-Germany
-France
-Italy
-Rest of Europe

Asia-Pacific
-China
-India
-Japan
-Indonesia
-Rest of Asia-Pacific

LAMEA
-Brazil
-Turkey
-South Africa
-Rest of LAMEA