Sheet Molding Compound and Bulk Molding Compound Market 2022-2030 : Growth Trends, Forecast and Competitive Analysis
Global Sheet Molding Compound and Bulk Molding Compound Market – Overview
The demand for sheet molding compound has been on the rise recently
due to the growing need for higher mechanical strength applications. Market
reports associated with the chemicals and
materials sector made accessible by Market Research Future along with published
reports on other sectors have been lately put out along with a report on this
industry. The market is likely to achieve
revenues worth USD 3,531.1 Million while growing at a CAGR of 6.5%
approximately in the forecast period.
The application of the sheet
molding compound for compression or injection molding has seen significant
improvement which is contributing to the overall development of the market. Its application in transportation, electrical,
construction sectors is anticipated to provide an additional boost to the expansion
of the market. The versatility of the sheet molding compound is likely to
contribute to its overall growth over the forecast period.
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Competitive Analysis
The extended feasibility of the market is
extremely dependent on the techniques and the strategic roadmaps that are involved
by market players. The dynamic combination of supply chain management is repeatedly
enhancing the development of the market. The critical success factors in the
market are effortlessly attained in the market leading to an elevated pace of
development in the forecast period. The improved level of importance on the
variation of products is raising the number of customers in the market
considerably. The making of products and services in the markets will alter the progression of the market
markedly. The market appeal and competitors’ tendencies are conspicuously
improved by the strategies that are being exploited by market players. The
market is significantly elevated by the advances that are happening in the
market.
The notable contenders in the Sheet Molding Compound and Bulk
Molding Compound Market are Citadel Plastics Holding Inc., IDI Composite
International, Polynt S.P.A, Menzolit GmbH, Core Molding Technologies Inc., Changzhou
Runxia Fiberglass Products Co., Ltd., Continental Structural Plastics Inc.,
Showa Denko K.K., and Royal Tencate.
Segmental Analysis
The segmentation of the sheet molding compound and bulk molding
compound market is carried out on the basis of
type, application, and region. On the basis of
type, the market segmentation includes carbon fiber and glass fiber. On the basis of application, the market is segmented into electrical, transportation, and
construction. Additionally, on the basis of
region, the market is segmented as APAC, North America, Europe, and Rest of the
World.
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Detailed
Regional Analysis
The regional analysis of the market perceives
that the APAC region will increase at a CAGR of 7.2%
over the forecast period with a market size of USD 1,885.2 million by 2021. The
market share of the region is attributed
to the rising transportation and electrical & electronics industries in
this region. China stands on the highest position as the producers and consumer
segment which accounts for a total of 50% approximately of the global market. However,
the European region is anticipated to obtain a market share of USD 923.7
million and will increase at a CAGR 4.9% by 2021.
Industry Updates:
July 2018 FACC will begin supplying materials for the entrance area for the
A320 aircrafts. This contains the whole lining of the entrance area as well as the
door area together with the ceiling panels in the middle, front and rear
sections of the aircraft. The contract which is
valued at an additional EUR 230 million, is based on FACC’s investment of some
million euros in new sheet molding compound (SMC) technology and an exceptionally
automated production line.
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