The sheet molding compound and bulk molding compound is a fiber protected polymer matrix composite material which offers a range of beneficial properties that are demanded by various modern applications. Market Research Future predicts the market is projected to reach USD 3,531.1 million by 2021 with 6.5% CAGR during review period of 2016-2021.
The final products are used in many end-user industries like automotive, electrical, electronics, sanitary ware, furniture and other structural components. SMC’s are used in Aircraft and military components, down hole components for oil & gas, and high strength electrical parts. BMC’s are majorly used in the applications like power control in electrical industry, and light vehicle headlamp reflectors in automobile industry. The growth of global transportation and electrical market has resulted in increasing production of sheet molding compound and bulk molding compound.
Geographically, Asia-Pacific is one of the major revenue generator as well as producer of sheet molding compound and bulk molding compound however, for the manufacturer there will be an extreme opportunity to invest or increase the production capacity. China stands on the top most position as producers and consumer which account the total of around 50% of the global market.
The leading market players in the global sheet molding compound and bulk molding compound market primarily include IDI Composite International (U.S.), Citadel Plastics Holding Inc (U.S.), Menzolit GmbH (Germany), Polynt S.P.A. (Italy), Core Molding Technologies, Inc. (U.S.), Continental Structural Plastics Inc.(U.S.), and Showa Denko (Japan).
Study Objectives of Sheet molding compound and bulk molding compound Market
- To provide detailed analysis of the market structure along with forecast for the next 5 years of the various segments and sub-segments of the Global Sheet molding compound and bulk molding compound Market
- Upcoming technologies, high growth geographies and countries were identified
- Regional and country specific demand and forecast for sheet molding compound and bulk molding compound were studied
- Key segments covered in the report are: application, classification, and region
- Under aircraft type, both commercial and military aircraft is taken into consideration
- Average selling price for all different classification was finalized; same was referred for forecasting, keeping few assumptions into factor
- For all the regions: forecast demand for all applications were identified and then with historical figure, data collected through primary and annual reports were triangulated to derive the regional market size
- Component and Raw Material Suppliers
- Service Suppliers
- Potential Investors
- Key executive (CEO and COO) and strategy growth manager
- In 2015, the Asia-Pacific had the largest share of 45% in the market and is expected to lead the market by 2021
- APAC is likely to be the fastest growing market, due to the significant increase in the number of aircraft in the region
- Growing demand of power control, and light vehicle headlamp reflectors are the driving factors for sheet molding compound and bulk molding compound market
- IDI Composite International, Citadel Plastics Holding Inc., Menzolit GmbH, Polynt S.P.A., Core Molding Technologies, Inc. are the major vendors of sheet molding compound and bulk molding compound market
- By 2021, Glass Fiber is likely to have the market share of around 82%
Regional and Country Analysis of Sheet molding compound and bulk molding compound Market
As per the MRFR analysis, the Asia-Pacific Sheet molding compound and bulk molding compound market is poised to reach $XX billion in 2021, to grow at a CAGR of around 7% during the forecasted period. Europe and North America will grow at a CAGR of approximately 5% and 7% respectively.
The reports also cover country level analysis:
- North America
- ·Rest of Europe
- Asia – Pacific
- ·Australia/New Zealand
- ·Rest of Asia-Pacific