San Francisco, California, May 25, 2017: The global sheet molding compound (SMC) and bulk molding compound (BMC) market is prognosticated to advance at an impressive degree of growth on the back of lower production cost and higher line throughput. In a report by TMR Research, titled “Sheet Molding Compound and Bulk Molding Compound Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025,” the analysts foresee a majority of prominent manufacturers to increasingly prefer the compounds on account of several favorable potentials. The global SMC and BMC market could account for a larger growth with the introduction of more durable, lightweight, and superior quality offerings.
The authors of the report project a few factors that could hold the progress of the world SMC and BMC market. However, participants operating in the world SMC and BMC market are expected to encounter some bankable opportunities to make profits during tough times. Luxury automobile brands manufacturing advanced offerings could increase the demand in the world SMC and BMC market because of an increasing deployment of the compounds. For instance, the 2018 Lexus LC 500 features the deployment of glass SMC for reducing weight and carbon fiber reinforced plastic (CFRP) SMC on the inner panels of its doors and trunk.
Industry competitors are prophesied to adopt the strategies of ramping up their product portfolios and setting up new production facilities to cement their profits in the world SMC and BMC market. A. Schulman, Inc., for instance, will be looking to satisfy the demands of its European clients by establishing a new inventory facility in Slovenia. Another brand Jushi Group Ltd. has already been employing BMC and SMC Class A chopped strands to bolster its portfolio. The report could also unveil the nature and other vital aspects of the competition in the world SMC and BMC market while profiling other players such as Continental Structural Plastics Inc., Citadel Plastics Holding Inc., Showa Denko K.K., IDI Composite International, and Menzolit GmbH.
Players operating in the international SMC and BMC market are envisaged to find well-paying business opportunities in the emerging region of Asia Pacific owing to its rapid industrialization rate and strong automobile demand. On the basis of growth rate, Asia Pacific could outpace all other regions in the international SMC and BMC market while riding on the probable dominance of China. The weighty demand in China is forecasted to be attributed to lesser prices of raw materials fortifying the presence of a significant count of electrical and automobile manufacturers. Followed by North America, Europe could trail Asia Pacific in the international SMC and BMC market.