Nov 6, 2020   SOURCE: BusinessWire

Worldwide Bulk Molding Compound Industry to 2027 - Adoption of Sustainable Materials Presents Opportunities - ResearchAndMarkets.com

The "Bulk Molding Compound (BMC) Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Resin Type (Polyester, Vinyl Resin, and Others), Fiber Type (Glass Fiber and Carbon Fiber), and Application (Electrical Industry, Automotive Industry and Others), and Geography" report has been added to ResearchAndMarkets.com's offering.

According to this report the market was valued at US $1,167.64 million in 2019 and is projected to reach US $1,650.58million by 2027; it is expected to grow at a CAGR of 4.6% during 2020-2027. The report highlights key driving factors and prominent market players with their developments in the market.

Bulk molding compound (BMC) is a ready-to-mold, glass-fiber reinforced thermoset polymer material used in compression molding, along with injection molding and transfer molding. BMC is manufactured by mixing unsaturated thermoset resin-like polyester resin, vinyl ester resin, or epoxy resin together with strands of chopped glass fibers, styrene, an initiator, and a filler in a mixer. The mixing for the preparation of BMC is done at room temperature and stored at low temperature to slow down curing before molding. The concentration of the mixture varies according to the application.

Demand for lightweight materials with high tensile strength is rising among several sectors, such as automotive, aerospace, and construction. The use of lightweight materials directly impacts the overall dynamics and structure of components in which they are used. BMC is a one such compound material, manufactured with the help of thermosetting polymeric matrices. The material possesses several properties such as good mouldability, high dimensional stability, excellent mechanical and electrical properties, and resistance from chemical and corrosion. Also, it is lightweight and quite economical, which makes it an ideal component to be used across several applications. The demand for BMC has considerably increased across the automotive and aerospace industries owing to rising advancements and innovations in these industries.

The COVID-19 outbreak was first reported in Wuhan (China) in December 2019, and since then, it has spread at a fast pace across the world. Many governments have imposed lockdowns, travel bans, and business shutdown measures to prevent the spread of infection. These norms restrict supplies of consumer goods, floriculture and horticulture products. Various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia, and North America are affecting the business collaborations and partnerships opportunities. All these factors are anticipated to affect the industries in a negative manner and thus act as restraining factor for the growth of various markets related to this industry in the coming months.

Reasons to Buy

  • Highlights key business priorities to assist companies realign their business strategies.
  • Features key findings and crucial progressive industry trends in the global Bulk Molding Compound (BMC) market, thereby allowing players to develop effective long-term strategies.
  • Develops/modifies business expansion plans by using substantial growth offering from developed and emerging markets.
  • Scrutinizes in-depth market trends as well as key market drivers and restraints.
  • Enhances the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.

Market Dynamics

Drivers

  • Rising demand for lightweight, high strength, and fire resistance materials
  • Growth of construction industry

Restraints

  • High Cost of Raw Materials in Comparison With Traditional Materials

Opportunities

  • Adoption of sustainable materials

Trends

  • Technological Innovations related to Bulk Molding Compounds (BMC) Market

Companies Mentioned

  • ASTAR S.A.
  • Core Molding Technologies
  • IDI Composites Internationa
  • Toray TCAC Holding B.V.
  • MENZOLIT
  • PolyntSpA
  • SHOWA DENKO K.K.
  • DASYC S.A
  • Lorenz Kunststofftechnik GMBH.
  • HGGC, LLC.

For more information about this report visit https://www.researchandmarkets.com/r/1yjqe9