Zion Market Research, the market research group announced the analysis report titled ‘Sheet-Molding Compound and Bulk-Molding Compound Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024‘
Global Sheet-Molding Compound and Bulk-Molding Compound Market by Overview: Sheet-molding compounds (SMC) are used in various applications in the automotive sector such as hoods, deck-lids, bonnets, front ends, and spoilers. However, bulk-molding compounds (BMC) are used in several automotive parts such as ignition parts, headlight liners, and valve covers. Sheet-molding compounds and bulk-molding compounds offer immense superior features compared to other traditional compounds, which are made up of iron and steel. These compounds are highly demanding in the automotive sector for fuel-efficient vehicles.
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Global Sheet-Molding Compound and Bulk-Molding Compound Market by Growth Factors: The global market is experiencing higher growth owing to increasing automation, integration of entire value chain of the process industries, and technological advancements. Moreover, growth in the transportation industry is anticipated to fuel the global sheet-molding compound and bulk-molding compound market growth in the future. Increasing urbanization further enhances the global market. The sheet-molding compound and bulk-molding compounds are highly utilized in the transportation application due to properties such as lightweight and good mechanics. Moreover, the escalating demand for fuel-efficient vehicles also acts as a crucial component in the growth of the global sheet-molding compound and bulk-molding compound market. These compounds comprise properties such as good electrical insulation, high corrosion resistance, fire & flame resistance, and high strength and rigidity, which provide ample growth opportunities in the global sheet-molding compound and bulk-molding compound market. Increasing consumer awareness regarding the flow control and growth in urbanization may propel the global market growth in the next few years.
Global Sheet-Molding Compound and Bulk-Molding Compound Market by Segmentation: The glass fiber is the dominating segmented in the global sheet-molding compound and bulk-molding compound market. However, transportation is expected to hold largest market chunk in the global sheet-molding compound and bulk-molding compound market. This trend is followed by electrical and construction application and is expected to continue its dominance in the future.
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Global Sheet-Molding Compound and Bulk-Molding Compound Market by Regional Analysis: Asia Pacific is the dominating region for sheet-molding compound and bulk-molding compound market. However, China contributed for a major market, which is expected to witness significant growth in the global sheet-molding compound and bulk-molding compound market. China has the presence of a large number of electrical and automobile manufacturers due to low raw material prices.
Global Sheet-Molding Compound and Bulk-Molding Compound Market by Competitive Players: Key players in the global sheet-molding compound and bulk-molding compound market include Changzhou Runxia Fiberglass Products Co., Ltd., Menzolit GmbH, Continental Structural Plastics Inc., and IDI Composite International. Other major players in the global market are Core Molding Technologies Inc., Royal Tencate, Citadel Plastics Holding Inc., Showa Denko K.K., and Point S.P.A.
Global Sheet-Molding Compound and Bulk-Molding Compound Market by Regional Segment Analysis: North America (U.S.); Europe(UK, France, Germany); Asia-Pacific(China, Japan, India); Latin America(Brazil); The Middle East and Africa
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