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The SMC and BMC market is estimated to grow from USD 2.36 Billion in 2015 to USD 3.26 Billion by 2020, at a compound annual growth rate (CAGR) of 6.69% from 2015 to 2020. The report aims at estimating the market size and future growth potential of the Sheet Molding Compound & Bulk Molding Compound Market across different segments such as application, fiber type, resin type, and region. The base year considered for the study is 2014 and the market size is forecast from 2015 to 2020. A shift in the trend from traditional materials such as iron, aluminum, and steel toward the usage of lightweight SMC and BMC is witnessed. SMC and BMC offer properties such high strength, corrosion resistance, fire & flame resistance, good electrical insulation, and a few others resulting in increased demand of the thermoset compounds. Usage of lightweight SMC and BMC in the transportation application is expected to substantially increase the growth of the market during the forecast period.
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Sheet Molding Compound Market & Bulk Molding Compound Market: Research Design The report "Sheet Molding Compound and Bulk Molding Compound Market by Resin Type (Polyester and Others), Fiber Type (Glass Fiber and Carbon Fiber), Application (Transportation, Electrical & Electronics, Construction and Others) and Region - Global Forecasts to 2020", The global SMC and BMC market is projected to grow from USD 2.36 Billion in 2015 to USD 3.26 Billion by 2020, at a compound annual growth rate (CAGR) of 6.69% during the same period. SMC and BMC materials are used in large volumes due to its superior features as compared to other traditional materials made from iron and steel. The increase in the demand for light and superior mechanical properties of SMC and BMC coupled with high demand for fuel-efficient vehicles is the factor driving the global market. Browse 71 market data Tables and 41 Figures spread through 102 Pages and in-depth TOC on "Sheet Molding Compound and Bulk Molding Compound Market by Resin Type (Polyester and Others), Fiber Type (Glass Fiber and Carbon Fiber), Application (Transportation, Electrical & Electronics, Construction and Others) and Region - Global Forecasts to 2020" Download Full PDF Brochure @ http://bit.ly/2vLXjI0 Early buyers will receive 10% customization on reports. Increasing demand for lightweight and superior mechanical properties of SMC and BMC will drive the market in transportation application The major factor driving the SMC and BMC market is the usage of these materials in the transportation application due to its lightweight and good mechanical properties. High demand for fuel-efficient vehicles is also acting as a crucial factor for the growth of the SMC and BMC market. These products offer superior properties including high corrosion resistance, high strength and rigidity, fire & flame resistance, and good electrical insulation. Transportation application: one of the key segments in the SMC and BMC market The transportation application will be the fastest-growing segment of the SMC market during the forecast period, whereas electrical & electronics application is expected to propel the growth of the BMC market. SMC finds various applications in the automotive industry, which includes deck-lids, front ends, spoilers, bonnets, and hoods. BMC is also used in automotive parts such as headlight liners, valve covers, and ignition parts. BMC possesses good electrical insulation properties, therefore it is majorly used in the electrical & electronics parts such as motor and anchor insulators, fuses, and switchgear. Asia-Pacific is the largest market for SMC and BMC China contributes a major market share in the Asia-Pacific region, whereas the U.S. constitutes the major market of the North American region. High growth in China is attributing to the large presence of automobile and electrical manufacturer in the country due to low raw material prices. Increasing urbanization and growth in the transportation industry are some of the factors that are expected to propel the growth of the SMC and BMC market in this region. The major players in the SMC and BMC market include: IDI Composite International (U.S.) Citadel Plastics Holding Inc. (U.S.) Continental Structural Plastics (U.S.) Core Molding Technologies Inc. (U.S.) Menzolit GmbH (Germany) Showa Denko K.K. (Japan)
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