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.
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.
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.
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.
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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