A report by TMR Research conveys essential information about the global market for sheet molding compound and bulk molding compound, which are also known as thermoset compounds.
Albany, NY -- (SBWIRE) -- 03/01/2017 -- Sheet Molding Compound (SMC) is a ready-to-mold, glass fiber protected polymer matrix composite material that finds use in different modern applications. This is because it can be molded into complex shapes. Bulk Molding Compound (BMC), on the other hand, is an amalgamation of cut glass strands and resin that is supplied in bulks or logs. BMC is suitable for either compression or injection molding. Some of the end-use industries utilizing SMCs and BMCs are electrical, automotive, transportation, aerospace, construction, marine, and consumer industries.
Raw materials used in manufacturing SMC and BMC are resins and fibers. Depending upon the type of fiber, the market can be segmented into glass fiber and carbon fiber. Currently, glass fiber is widely used in the global sheet molding compound and bulk molding compound market. Depending upon the resin type, the market can be segmented into polyester, vinyl ester, and others. The glass fiber is the dominating segment in the global sheet-molding compound and bulk-molding compound market.
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A report by TMR Research conveys essential information about the global market for sheet molding compound and bulk molding compound, which are also known as thermoset compounds. It furnishes a granular analysis of the various factors promoting or hindering the market's growth in the near future and also provides information on the important players in the market.
Global Sheet Molding Compound and Bulk Molding Compound Market: Drivers and Trends
Sheet molding compound and bulk molding compounds are lightweight yet strong. They are fire, corrosion, and stain resistant and exhibit excellent electrical insulation. As a result of so many unique perceived benefits, SMC and BMC are being preferred over traditional materials such as steel, iron, and aluminum. They are being increasingly utilized in the burgeoning automotive sector. Sheet molding compounds, for example, are used in bonnets, hoods, front ends, decklids, and spoilers in automobiles. Bulk molding compounds too are used in various automotive parts, namely valve covers, ignition parts, and headlight liners. In the years to come, the growing urbanization worldwide, leading to the swift sale of vehicles, especially fuel-efficient vehicles, will drive the market substantially.
Other factors benefitting the global sheet molding compound and bulk molding compound market are the increasing automation, integration of the complete value chain of the process industries, and rapid technological progress.
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Global Sheet Molding Compound and Bulk Molding Compound Market: Regional Outlook
At present, Asia Pacific holds a sway over the global sheet molding compound and bulk molding compound market on account of the robust demand for automobiles and rapid industrialization in the region. The same factors are slated to propel the market further in the near future. In fact, Asia Pacific, powered by China, is slated to outpace all other major geographic segments in terms of growth rate in the years ahead. Presence of a copious number of electrical and automobile manufacturers, which is a result of lesser raw material prices, has made China a key player in the Asia Pacific region. It is both a leading producer and consumer of SMC and BMC in the region.
Europe trails Asia Pacific in the global sheet molding compound and bulk molding compound market. It is followed by North America, which is propelled by the U.S. – the main contributor to its growth.
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Companies Mentioned in Report
To present an in-depth assessment of the competition prevailing in the global sheet molding compound and bulk molding compound market, the report profiles companies such as 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.
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