Press release
World Analysis and forecast of Sheet Molding Compound and Bulk Molding Compound Market by 2021
Sheet Molding Compound (SMC) is a fiber protected polymer matrix composite material which 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. Glass fiber is expected to hold the maximum market share of USD 589.5 million by 2021, growing at a CAGR of 6.7%. The global sheet molding compound and bulk molding compound market is expected to and reach USD 3,531.1 Million at the end of the forecasted period and is expected to show a staggering growth at CAGR of 6.5% from 2016 to 2021.
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Key Players
The key players of global Sheet Molding Compound and Bulk Molding Compound Market report include- 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., and Royal Tencate.
Regional Analysis of Global Sheet Molding Compound and Bulk Molding Compound Market
APAC will expand at a CAGR 7.2% over the forecast period with largest market size of USD 1,885.2 million by 2021. 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.
However Europe is expected to acquire a market share of USD 923.7 million and will expand at a CAGR 4.9% by 2021. It is followed by U.S.
Segments
Global Sheet Molding Compound and Bulk Molding Compound market is segmented on the basis of Type, Application, and Region. On the basis of type it is segmented as glass fiber and carbon fiber. On the basis of application it is segmented as transportation, electrical and construction. Additionally on the basis of region, it is segmented as North America, Europe, APAC and Rest of the World.
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