RAIPUR, India, January 18, 2022 /PRNewswire/ — Stratview Research Announces Launch of New Thermoset Molding Compounds Market Research Report by type of end-use industry (Transportation, Construction, Consumer Goods, Electrical & Electronics, and Others), by Compound Type (SMC and BMC), by type of fiber (Glass Composites and Other Composites), by type of resin (polyester composites and other composites), and by region (North America, Europe, Asia Pacific, and Rest of the World), Trends, Forecasts, Competitive Analysis, and Growth Opportunities: 2021-2026.
This Strategic Assessment Report, from Stratview Research, provides a comprehensive analysis that reflects the current thermoset molding compounds market realities and future market possibilities for the forecast period of 2021 to 2026.. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market players as well as investors in identifying the low hanging fruits available in the market as well as in formulating growth strategies.
Thermosetting molding compound Market: Highlights
Thermosetting molding compounds include sheet molding compound (SMC) and bulk molding compound (BMC). BMCs are more preferred in the development of small intricate parts, mainly through the injection molding process, while SMCs are more preferred in large parts that are less complex in nature.. SMCs and BMCs are largely reinforced with fiberglass. However, in some cases, carbon fibers are also chosen based on the requirement of strength and ability to bear the highest cost.
COVID-19 outbreak has disrupted the growth trajectory of the thermoset molding compounds market. The crisis has led countries to impose lockdowns, restrict international movement of non-essential goods and resources, which ultimately has curbed manufacturing activities of various industries that are creating gargantuan demand for thermoset molding compounds. The transportation industry is the main demand generator for these materials; therefore, any movement in automobile production has a similar reflection on the demand for thermoset compounds.
Although some manufacturers had to temporarily halt some of their activities, others were able to continue as normal. The gradual reopening of manufacturing facilities with strict cleaning and safety practices, coupled with the collective efforts of OEMs and other industry stakeholders to mitigate the risks associated with COVID-19, signals a healthy and rapid recovery, helping The market is expected to grow at a forecast CAGR of 4.9% during the period 2021-2026 to reach US$4.6 billion in 2026.
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According to type of end-use industry, transportation is expected to remain the largest demand driver for thermoset compounds in terms of value and volume during the forecast period. Industry type is also the largest demand driver for thermoplastic compounds (SFT, LFT, and GMT). Class A panels are preferably made from thermosetting compounds worldwide. Also, different end-use industries are dominated by the type of thermosetting compound. For example, transportation is the key market for SMCs while electrical and electronics are for BMCs.
Depending on the type of fiber, fiberglass remains the material of choice for manufacturing SMCs and BMCs. The fiber type dominates in all regions largely due to its excellent strength coupled with its low cost. Carbon fiber, a relatively insignificant material in this market, is likely to grow at an excellent rate in the coming years, mainly gaining ground in electric and high-end vehicles.
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At the regional level, Asia Pacific is expected to remain the largest market over the next five years. This can largely be attributed to the rapid expansion of the transportation, O&M and construction industries in the region. The growth in Asia Pacific is mainly led by China, where the price of raw materials is relatively low. Despite difficult market environments amid the pandemic, the Chinese market has recovered well from the 2n/a half of 2020 and recorded overall growth during this year.
North America and Europe are also significant markets in terms of the demand generated for SMCs and BMCs. Both regions saw a huge decline in 2020 amid the pandemic and have already started to rebound from 2021. There is a relatively high penetration of SMCs and BMCs compared to other materials in vehicles in both regions compared to Asia Pacific.
The supply chain of this market consists of multiple nodes including raw material suppliers, SMC and BMC manufacturers, tier one players, OEMs, and end users. Following are the key players in the Thermoset Molding Compounds market:
- Continental Structural Plastics (Teijin Group)
- Polytech group
- Core Molding Technologies, Inc
- IDI Composites International
- Polynt SPA
- Premix Inc.
- Lorenz-Kunststofftechnik GmbH
- Menzolit GmbH
- Huayuan Advanced Materials Co., Ltd. (CHAM)
- Changzhou City Jiangshi Composite Technology Co.Ltd.
Market players are working hard, aiming to develop application-oriented products for industry-specific demands. For example, products with exceptional flame and track resistance, electrical insulation, corrosion and stain resistance are under development.
This report provides market insights in the most comprehensive way. The structure of the report has been kept to provide maximum business value. It provides essential insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those looking to enter the market. Here are the main features of the report:
- Market Structure: Overview, Industry Life Cycle Analysis, Supply Chain Analysis.
- Market Environment Analysis: Growth Drivers and Restraints, Porter’s Five Forces Analysis, SWOT Analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: market shares, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for existing and new players.
- Key factors of success.
This report studies the global Thermoset Molding Compounds market and has segmented the market in five ways, keeping in mind the interest of all stakeholders in the value chain. Here are the five ways the market is segmented:
Thermoset Molding Compounds Market, By End-Use Industry Type
- Transport (Regional analysis: North America, Europe, Asia Pacific, and grip)
- Construction (Regional analysis: North America, Europe, Asia Pacific, and grip)
- Consumer goods (Regional analysis: North America, Europe, Asia Pacific, and grip)
- Electrical and Electronic (Regional analysis: North America, Europe, Asia Pacific, and grip)
- Others (Regional analysis: North America, Europe, Asia Pacific, and grip)
Thermoset Molding Compounds Market, By Compound Type
- Sheet molding compounds (Regional analysis: North America, Europe, Asia Pacific, and grip)
- Bulk molding compounds (Regional analysis: North America, Europe, Asia Pacific, and grip)
Thermoset Molding Compounds Market, By Reinforcement Type
- Glass composites (Regional analysis: North America, Europe, Asia Pacific, and grip)
- Other composites (Regional analysis: North America, Europe, Asia Pacific, and grip)
Thermosetting Molding Compounds Market, By Resin Type
- Polyester composites (Regional analysis: North America, Europe, Asia Pacific, and grip)
- Other composites (Regional analysis: North America, Europe, Asia Pacific, and grip)
Thermoset Molding Compounds Market, By Region
- North America (Country analysis: the United States, Canada, Mexico)
- Europe (Analysis by country: Germany, France, Great Britain, Russia, and Rest of Europe)
- Asia Pacific (Analysis by country: China, Japan, India, and Rest of Asia Pacific)
- Rest of the world (Analysis by country: Brazil, Saudi Arabia, and others)
Stratview Research has several high value market reports in the advanced materials industry. Please refer to the following link to browse our reports: https://www.stratviewresearch.com/market-reports/composites.html
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