Sheet Molding and Bulk Molding Compound Market: The Importance of Collaboration in Innovation
The global sheet molding and bulk compound market size is expected to reach USD 5.90 billion by 2030, registering a CAGR of 6.39% from 2024 to 2030, according to a new report by Grand View Research, Inc.
Sheet molding compound (SMC) is widely used in transportation applications because of its excellent mechanics and lightweight nature. They have electrical insulation and are resistant to fire, corrosion, and stains. Traditional materials such as steel, iron, and aluminum are being supplanted by SMC and BMC due to their distinct perceived benefits. Automobile makers are probably going to rely less on steel and more on sheet molding compound (SMC) as the market for lightweight materials and solid compounds grows.
The report “Sheet Molding And Bulk Molding Compound Market Size, Share & Trends Analysis Report By Resin Type (Epoxy, Polyester), By Fiber Type (Glass Fiber, Carbon Fiber), By Application, By Region, And Segment Forecasts, 2024 – 2030” is available now to Grand View Research customers and can also be purchased directly
In addition to the intrinsic limits of metals and their rising costs, a number of firms are substituting metal for thermoset composites in high-performance applications. This is helping to drive the expansion of the sheet molding compound (SMC) market. Many firms now favor lightweight materials because of the direct correlation between fuel usage and the weight of the materials used in manufacturing.
The market offers a lot of room for expansion and innovation, especially in the area of environmentally friendly and sustainable composites development. Global attention to sustainability and minimizing environmental effect has led to an increase in demand for recyclable or renewable materials. Producers are allocating resources to R&D in order to develop recyclable composites and bio-based resins that preserve the performance attributes of conventional SMC and BMC. Moreover, the growing utilization of these materials in developing sectors including infrastructure construction and renewable energy presents fresh opportunities for market participants to flourish.
Sheet Molding And Bulk Molding Compound Market Report Highlights:
- Based on fiber type, glass fiber held the market with the largest revenue share of 63.07% in 2023. Glass fiber is the most commonly used reinforcement material in SMC and BMC due to its excellent mechanical properties, cost-effectiveness, and versatility
- Based on application, automotive & transportation held the market with the largest revenue share of 31.23% in 2023. The automotive & transportation sector is a major driver of market growth, as SMC and BMC materials are increasingly used for manufacturing lightweight and high-strength components, such as body panels, bumpers, and structural parts
- North America holds a substantial share of the market, driven by robust demand from the automotive and aerospace industries. The U.S., in particular, is a major contributor, with its strong manufacturing base and technological innovation
Order your free sample copy of “Sheet Molding And Bulk Molding Compound Market Report 2024 - 2030, published by Grand View Research
Sheet Molding And Bulk Molding Compound Market Segmentation
Grand View Research has segmented the global sheet molding and bulk molding compound market based on resin type, fiber type, application, and region:
Sheet Molding And Bulk Molding Compound Resin Type Outlook (Volume, Kilotons; Revenue, USD Million, 2018 – 2030)
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- Epoxy
- Polyester
Sheet Molding And Bulk Molding Compound Fiber Type Outlook (Volume, Kilotons; Revenue, USD Million, 2018 – 2030)
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- Glass Fiber
- Carbon Fiber
Sheet Molding And Bulk Molding Compound Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 – 2030)
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- Automotive & Transportation
- Aerospace
- Electrical & Electronics
- Building & Construction
- Domestic Appliances
- Others
Sheet Molding And Bulk Molding Compound Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 – 2030)
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- North America
-
-
- U.S.
- Canada
- Mexico
-
-
- Europe
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-
- Germany
- UK
- France
- Spain
- Italy
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-
- Asia Pacific
§ China
§ India
§ Japan
§ Australia
§ South Korea
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- Central & South America
§ Brazil
§ Argentina
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- MEA
§ South Africa
§ Saudi Arabia
§
List of Key Players in the Sheet Molding And Bulk Molding Compound Market
- IDI Composites International
- National Composites
- MENZOLIT
- Polynt (Polynt-Reichhold)
- Continental Structural Plastics Inc. (TEIJIN)
- ZOLTEK (Toray Group)
- Mitsui Chemicals
- TORAY INTERNATIONAL
- Core Molding Technologies
- Devi Polymers Private Limited
- Zhejiang Yueqing SMC & BMC Manufacture Factory
- Huayuan Advanced Materials Co., Ltd.
- Resonac Holdings Corporation
About Grand View Research:
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies, ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials, and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit www.grandviewresearch.com
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Email: sales@grandviewresearch.com
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