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Sheet Molding and Bulk Molding Compounds Market to Observe Strong Development Worldwide by 2021
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Sheet molding compound is primarily composed of polymerized risen or cross linked risen reinforcement filler, fiber and other various additives. 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. Injection molding of bulk molding compound is generally used to produce complex components such as car components, electrical equipment, housings for electrical tools and electrical equipment in large industrial volumes. Reinforcement content usually ranges between 15 and 20 percent however; it can reach up to 25 percent for the highest performance.
On the basis of application, the global sheet molding and bulk molding compounds market is segmented as transportation, electrical, and construction. As per MRFR analysis, transportation is estimated to be the most prominent application of sheet molding and bulk molding compound followed by other applications such as electrical and construction
The global sheet molding and bulk molding compounds market is estimated to witness moderate growth rates over the forecast period. Market is slated to exhibit CAGR of 4.9% over the forecast period.
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The market is primarily driven by increasing automotive production across the globe. The penetration of such compounds is increasing along with the increasing automotive production. Moreover, the automotive industry has been gradually incorporating composite and FRP materials into cars to improve efficiency, reliability as well as customer appeal. Some of the key players active in the global sheet molding and bulk molding compounds market are IDI Composite International (U.S.), Citadel Plastics Holding Inc., Menzolit GmbH
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