Attractive Features of Molding Compounds and Bulk Moldings Compound bolster Demand

San Francisco, California, August 31, 2018 –The massive drive that the demand for sheet molding compounds (SMC) and bulk molding compounds (BMC) over the past few years stems from their rising applications for making light-weight automotive vehicles. The prominent trend of light-weighting in the automotive industry across the globe with an aim to produce fuel-efficient vehicles will keep this demand lucrative. The extensive uptake of the compounds in production of high-end cars in the coming years is expected to boost the market.

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The global SMC and BMC market is increasingly driven by the advent of advanced production technologies for these compounds, which enable manufactures develop superior quality and durable compound. A report by TMR Research takes a closer look at various such factors and trends shaping the current contours and emerging dynamics. The study is titled “Sheet Molding Compound and Bulk Molding Compound Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025”.

The easier moldability of SMC components into complex shapes is a potentially important factor spurring its demand in a range of end-use industries such as the electrical, transportation, aerospace, construction, and marine industries. A host of other unique properties of these compounds also make their demand attractive. Key among them are remarkable electrical insulation and fire, noticeable corrosion resistance, amazing flow characteristics and good dielectric properties. This has fueled the uptake of the compounds in the production of several industrial compounds.

The burgeoning demand for fuel-efficient vehicles among urbanized populations all over the world is bolstering the application of sheet molding compounds and bulk molding compounds. This is especially observed in emerging economies such as of Asia Pacific. The rapid pace of industrial automation in numerous developing and developed economies is a factor favoring the expansion of the market.

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Some of the prominent players operating in the sheet molding compounds and bulk molding compounds market are Koninklijke Ten Cate, Core Molding Technologies Inc., Polynt S.p.A., Continental Structural Plastics Inc., Citadel Plastics Holding Inc., Showa Denko K.K., and IDI Composite International.

Sheet Molding Compound and Bulk Molding Compound Market Key Players involved during 2017- 2025

Global Sheet Molding Compound and Bulk Molding Compound Market: Snapshot

The global market for sheet molding compound and bulk molding compound is expected to advance with the launch of superior quality, lightweight, and more durable bulk molding and sheet molding compounds. By virtue of their higher line throughputs and lower production costs, these compounds are increasingly preferred by several leading manufacturers. As an augmenting number of advanced automobiles and luxury brands are deploying sheet molding compound (SMC) components, the market for sheet molding compound and bulk molding compound promises significant growth opportunities.

For instance, the Mercedes-AMG GT C Roadster features a light-weight boot-lid that is made from SMC. Similarly, the 2018 Lexus LC 500 deploys glass sheet molding compound to curb weight. The inner panels of the trunk and doors of the vehicle are made using CRFP sheet molding compound.

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Several prominent market players have set their eyes on global presence, for which they have been expanding their capacities through new production facilities in new regions. For instance, in March 2017, Jushi Group Ltd. announced its plans to set up a production facility in Suez, Egypt by the second half of 2017. It has also been ramping up its product portfolio with the addition of SMC Class A and BMC chopped strands. Another leading firm, A. Schulman, Inc. announced in October 2016 its intention to expand its compounding capacity via the addition of a new sheet molding compound production site in Germany. Another new inventory facility, situated in Slovenia, will cater to the demands of its European customer base.

Global Sheet Molding Compound and Bulk Molding Compound Market: Overview

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.

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.

Sheet Molding Compound and Bulk Molding Compound Win Customer Preference

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.