Bulk Molding Compound Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Resin Type, Fiber Type, and Application, and Geography

Bulk Molding Compound Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Resin Type, Fiber Type, and Application, and Geography

  • September 2020 •
  • 177 pages •
  • Report ID: 5978055 •
  • Format: PDF
The global bulk molding compounds (BMC) market was valued at US$ 1,167.64millionin 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.

Bulk Molding Compound (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 temperatures and stored at low temperatures toslowdown curing before molding.

Sustainability has become an important factor in the advanced manufacturing set-up industry. The increased focus toward environment along with introduction of improved and sustainable form of materials is further expected to boost the demand for sustainable materials.BMC based products are known to have a comparatively lower environmental impact than the conventional materials, such as metals, thermoplastic polymers and concrete. Theyofferminimal impact in the manufacturing of the base material, less weight in service, better lifetime, and the ability to recycle BMC parts. Therefore, the total life cycle impact of BMC is quite lower than the other materials. Further, the presence of styrene which make BMC brittle, is a significant component BMC, is also considered safe for the environment, andit has no effect on the human body. Also, BMC has comparatively low rate of emissions; it does not generate hazardous byproducts from the production processes. Further, the BMC industry complies with the legislation stated under the REACH agreement. Due to such properties, they are increasingly being deployed in greener applications, such as production of green energy, manufacturing of small and light E-car and many other applications. Rising adoption of sustainable materials across several applications due to inclination toward green future is anticipated to drive the demand of BMC in various industries.

Based on resin type, the bulk molding compounds (BMC) market is further segmented intopolyester, vinyl resin, and others.The others segment is subsegmented into vinyl ester and epoxy resin.

Epoxy or glycidyl compounds include glycidyl esters, diglycidyl esters, and glycidyl amines as other types of epoxy compounds which are considered as reactive diluents and are added to basic resins so as to adjust performance features. In 2019, the polyester segment dominated the market.Polyester resins are formed by the reaction between polyols, such as glycol or ethylene glycol, and dibasic acids, such as phthalic acid or maleic acid. These unsaturated resins are combined with other chemicals called hardeners or catalysts, which changes the molecular structure of the resulting compound along with generation of heat. Methyl ethyl ketone peroxide (’MEKP’) is an example of such ’hardening’ agent. Vinyl ester resins are manufactured by reacting products of epoxy resins with ethylenically unsaturated carboxylic acids. Such thermoset resins are based upon epoxy and their properties are similar to those of the unsaturated polyester resins. Vinyl ester (VE) resins are considered as an attractive alternative used in composite materials,such as BMC.

In terms of geography, the bulk molding compounds (BMC) market is further segmented into North America, Europe, AsiaPacific (APAC), South America (SAM), andthe Middle East and Africa (MEA).In 2019, Asia Pacific held the largest share of the global bulk molding compounds (BMC) market, followed by North America and Europe.

The companies are continuously enhancing the overall business processes to meet the customers demand in the best possible way.BMC is extensively used in various industries such as the automotive and transportation industry, aerospace, home appliances, and electrical and electronic.

The growth in these industries is projected to propel the usage and demand for BMC in the US.The demand for BMC in Canada is rising with increasing purchasing power along with rising disposable income which have,indirectly, propelled the growthof theautomotive and building and construction industries.

Economy of Mexico has performed relatively well in recent years, mainly due to its thriving manufacturing sector. Mexico’s propensity for free trade enabled a rise in industrial manufacturing, production, and assembly in the country.

COVID-19 outbreak started in Wuhan (China) in December 2019 and has rapidly spread around the globe. The US, India, Brazil, Russia, Spain, Mexico, and Argentinaare among the most-affected nations in terms of COVID-19 confirmed cases and pronounced deaths, as of September 2020.COVID-19 pandemic has affected economies and undertakings due to lockdowns, travel bans, and business shutdowns. The global chemicals and materials is one of the major businesses witnessing the negative impact. These factors have affected the growth of the global bulk molding compounds (BMC) market.

Astar S.A., Core Molding Technologies, IDI Composites International., Toray TCAC Holding B.V., MENZOLIT, PolyntSpA, SHOWA DENKO K.K, Dasyc S.A, Lorenz Kunststofftechnik GMBH, and HGGC, LLC.are among the major players operating in the global bulk molding compounds (BMC) market.

Overall size of the global bulk molding compounds (BMC) market size has been derived in accordance with both primary and secondary sources.To begin the research process begins exhaustivesecondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data as well as to gain more analytical insights into the topic. The participants typically involved in the process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specialized in the bulk molding compounds (BMC).
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