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Global Sheet Molding and Bulk Molding Compounds Market is Expected to Experience Immense Growth During 2018 – 2021
Sheet Molding and Bulk Molding Compounds Market
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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. 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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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. 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. 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. Regionally, the global sheet molding and bulk molding compounds market is divided into three regions namely, Europe, Asia-pacific and the U.S. Among the aforementioned regions, Asia-Pacific accounted for the highest market share in terms of value and volume in 2015, followed by Europe and the U.S. The exclusive application of sheet molding and bulk molding compounds across industries such as, automotive, electrical, construction and aerospace among other industries can be attributed to the increased demand of sheet molding and bulk molding compounds in the above mentioned regions. With substantial industrial and infrastructure growth in the developing market viz., Asia-Pacific, the sheet molding and bulk molding compounds market in the region is expected to register a healthy single digit growth rate over the forecast period.
Market Research future through this report aims to provide understanding of the global sheet molding and bulk molding compounds market on the basis of region, and also assists identification of ongoing trends along with anticipated growth during the forecasted period. For this report, extensive primary research was conducted to gain a deeper insight of the market performance. Various industry experts and Key Opinion Leaders (KOLs) were contacted and interviewed to get an idea of global sheet molding and bulk molding compounds market
Browse Full Report @ https://www.marketresearchfuture.com/statistical-reports/sheet-molding-and-bulk-molding-compounds-market-one-2680 .
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