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 (North America, Europe, Asia-Pacific, Middle East and Africa and South America), The Sheet Molding Compound (SMC) and Bulk Molding Compound (BMC) Market size is projected to reach a CAGR of 5.9% to 2028.
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Sheet Molding Compound (SMC) is a fiber protected polymer matrix composite material that offers a range of beneficial properties that are demanded by various modern applications. Bulk Molding Compound (BMC) is any combination of cut-glass components and resin in the form of a bulk pre-preg. Bulk molding compound is mainly suitable either for compression or injection molding. Transportation, electrical, construction and other applications such as aerospace, automotive, marine and consumer industries are increasing using sheet molding compound to take better advantage of its performance.
An increase in the worldwide economic growth rate is the major factor that has supported long-term expansion for Sheet Molding Compound (SMC) and Bulk Molding Compound (BMC) Market.
Top Key Players of 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.
· Continental Structural Plastics Inc.
· Showa Denko K.K.
· Changzhou Runxia Fiberglass Products Co., Ltd.
· Royal Tencate
Regional Analysis of Sheet Molding Compound and Bulk Molding Compound Market:
Asia-Pacific is likely to witness the highest growth in the market during the forecast, the share is attributed to the growing transportation and electrical & electronics industries in this region. China stands on the top most position as producers and consumer which account the total of around 50% of the global market.
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Recent Developments
February 2021- Japan-based company, Teijin, has announced plans to deploy a composite compression molding line at the firm’s automotive composites business, Benet Automotive s.r.o. The plant is based in Milovice, Czech Republic. Teijin is set to invest over USD12 million in the latest glass-fiber sheet molding compound (GF-SMC) line. The latest product line facility will be fully operational by autumn 2022, with the main target to fulfill the strong demand for the company’s composite formulations across the European market.
The Report helps to identify the opportunities in Global Regions:
· North America (the United States, Canada, and Mexico)
· Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
· Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
· South America (Brazil etc.)
· The Middle East and Africa (North Africa and GCC Countries)
Reasons to Acquire
· Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
· Gain authentic and granular data access for Sheet Molding Compound (SMC) and Bulk Molding Compound (BMC) Market so as to understand the trends and the factors involved behind changing market situations
· Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
· In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns
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Key Features of Global Market Report:
· Analyze competitive developments like expansions, deployments, new product launches, and acquisitions.
· Identify growth opportunities for stakeholders by pinpointing high-growth segments.
· Study global industries status and forecast, focusing on key regions.
· Conduct an in-depth analysis of product segments and applications, offering strategic recommendations for competitive advantage.
· Provide a comprehensive analysis of key regions, including SWOT and Porter's Five Forces analyses.
· Assist in making strategic business decisions and investment plans.
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