Stratview Research has launched a new report, titled Bulk Molding Compound (BMC) Market is Segmented by End-Use Industry Type (Transportation, Construction, Consumer Goods, Electrical & Electronics, and Others), by Reinforcement Type (Glass Composites and Other Composites), by Resin Type (Polyester Composites and Other Composites), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
Covid-19 Impact Analysis:
Covid-19 has highly impacted the market dynamics, competition, and supply chain of almost all industries. The revenues have gone down in 2020 and are expected to resume an uptrend gradually from 2021 and continue to grow further. The report covers all the segments that were affected by the pandemic.
According to the report, BMCs remain the choice of material for certain applications, such as circuit breakers and automotive headlamps. Over the eons, the penetration of BMCs has been soaring up in these applications, citing the advantages that the material brings to the table. The major end-use markets, such as transportation, consumer goods, and electrical & electronics, underwent immense pressure due to the onset of the pandemic and recorded a massive decline. The market for BMCs followed a similar trajectory and decline a bit in the year 2020. However, the long-term demand for sustainability remains vibrant in the wake of an incessant penetration of BMCs over their arch-rivals paired with the expected recovery of end-use markets. Overall, the BMC market is likely to grow at a CAGR of 4.6% during 2021-2026 to reach the figure of US$ 1.0 Billion in 2026.
Market Segments' Analysis
Based on the end-use industry type, the market is segmented as transportation, construction, consumer goods, electrical & electronics, and others. Electrical & Electronics is expected to remain the biggest demand generator of BMCs among all the end-use industries in terms of both value and volume during the forecast period. BMC is considered an ideal material for fabricating some of the electrical parts, such as circuit breakers and encapsulation. BMC exhibits brilliant flow characteristics, dielectric property, and flame resistance. They are well-suited for applications that demand precision in detail and dimensions along with high performance. Transportation also generates a sizeable demand for BMCs across the region. The headlight is the biggest application of BMCs in the transportation industry.
Based on the resin type, the market is segmented as polyester composites and other composites. Polyester is projected to remain the choice of materials in the BMC market in the foreseen future. Polyester offers good performance at the lowest cost, allowing BMC and tier players to compete with other materials, such as plastics and metals. In BMC, polyester is the most dominant material across the end-use industries. Epoxy, currently securing a diminutive share, is likely to grow at a healthy pace in the years to come. Driven by a greater acceptance of BMCs in high-temperature electrical applications.
In terms of regions, Asia-Pacific is expected to remain the largest market over the next five years. Countries, like China, Japan, Taiwan, South Korea, and India are the preferred destinations of either electrical & electronics or transportation or both industries. A large number of companies are located in these countries, serving local as well as the global demand for products. This assures a healthy demand for reinforced compounds including BMCs in the region. North America and Europe also offer healthy growth opportunities in the short run, mainly governed by the expected recovery in the demand for composite materials across markets.
Key Players
The following are the key players in the Bulk Molding Compound (BMC) Market.
· Schulman (BMCI)
· Core Molding Technologies, Inc.
· IDI Composites International
· Polynt S.p.A.
· Premix Inc.
· Menzolit GmbH
· Showa Denko K. K.
· Astar S.A.
· Toray Advanced Composites
Frequently Asked Questions –
This report provides vital information and valuable insights, enabling the users to identify the strategic growth opportunities in the market. The report aims at answering the following key questions:
- What is the current and future market size of Bulk Molding Compound (BMC) Market?
- How has the COVID-19 pandemic impacted the market? How fast is it expected to recover?
- What will be the short and long-term effects of the pandemic?
- How are other market factors affecting the market dynamics?
- Which segments offer high-growth opportunities in the long run?
- How fierce is the Bulk Molding Compound (BMC) Market competition?
- What are the key emerging trends and unmet needs in the present market?
- What are the strategic growth opportunities and key success factors?
Read the full report: https://www.stratviewresearch.com/2499/bulk-molding-compound-market.html
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bulk molding compound market
