Report : Europe SMC BMC Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Resin Type (Polyester, Others); Fiber Type (Glass Fiber, Carbon Fiber); End-Use Industry (Automotive and Transportation, Aerospace, Electrical and Electronics, Building and Construction, Others)
Growth of construction industry is projected to escalate the European SMC BMCmarket growth at a CAGR of 6.6% during 2019–2027
According to our latest market study on “European SMC BMC Market Forecast to 2027– Covid-19 Impact and Analysis by Resin Type (Polyester, Others); Fiber Type (Glass Fiber, Carbon Fiber); End-Use Industry (Automotive and Transportation, Aerospace, Electrical and Electronics, Building and Construction, Others); and Country,” the European SMC BMC market was valued at US$ 619.72 million in 2018 and is projected to reach US$ 1,095.82 million by 2027; it is expected to grow at a CAGR of 6.6% during the forecast period. The report highlightskey factors driving the market growth, and prominent players and their developmentsin the market.
Sheet molding composite (SMC) or sheet molding compound is known as a ready to mold glass-fiber-reinforced with polyester material primarily used in compression molding. The sheet is provided by the manufacturers in the form of rolls weighing up to 1000 kg. Alternatively, the resin coupled with related materials can be mixed on-site, according to the requirement to gain control over the chemistry and filler. This is manufactured by dispersing long strands of chopped fiber, basically glass fibers or carbon fibers on a bath of thermoset resin, such as polyester resin, vinyl ester resin, and epoxy resin. The longer fibers present in SMC results in better strength compared to sheet and bulk molding compounds (BMC) products. There are several applications of SMC, such as demanding electrical applications, corrosion resistant needs, structural components at low cost, automotive, and transit. Bulk molding compound is a ready-to-mold, glass-fiber reinforced thermoset polymer material used in compression molding, along with injection molding and transfer molding.
Construction is considered to be one of the most dynamic industrial sectors which are significantly related to the evolution of better societies across the world. The emerging trends which have a direct impact on the construction industry includes growing demand for green construction to minimize the impact of carbon footprint, use of advanced materials and fiber-reinforced polymer composites for the rehabilitation of aging structures. Along with the growth of construction industry, the demand for lightweight and strong materials has propelled, which has a positive impact on the demand for sheet and bulk molding compounds. These compounds are preferred over other traditional materials such as iron, aluminum, and steel and are considered to be an important market in the field of fiber-reinforced plastics. Moreover, they can be ideally used to suit the dynamic requirements of the processing industry.
Light weight, long life, better mechanical properties, resistance to fire, corrosion & chemical, low smoke emission, and good abrasion resistant surface are some of the notable properties of the SMC and BMC compounds. Combining several properties could offer better design, which makes them better material than metals. The building and construction sector uses SMC and BMC in the production of panels for building façades, sports stadiums seats, water tanks, door skins, access chambers, manhole covers, cable trays, etc. With the increase in investment in research and development activities along with diversification in application base, the demand for SMC and BMC is expected to expand in building and construction industry.
Impact of COVID-19 Pandemic on SMC BMC Market
COVID-19 outbreak first began in Wuhan (China) in December 2019, and since then it has spread across the globe at a fast pace. China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US are among the worst affected countries in terms of positive cases and confirmed deaths as of March 2020. The COVID-19 outbreak has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The overall market breakdown due to COVID-19 is also affecting the growth of the SMC BMC market due to shutting down of factories, obstacle in supply chain, and downturn in world economy.
ASTAR S.A., Core Molding Technologies, IDI Composites International, Toray TCAC Holding B.V., MENZOLIT, PolyntSpA, Showa Denko K.K., HGGC, LLC., Continental Structural Plastics Inc., and LORENZ are among the well-established playersin the European SMC BMC market.
European SMC BMC Market Breakdown—by Region, 2018
The report includes the segmentation of the European SMC BMC market as follows:
By Resin Type
- Polyester
- Other Resin Type
By Fiber Type
- Glass Fiber
- Carbon Fiber
By End-Use Industry
- Automotive and Transportation
- Aerospace
- Electrical and Electronics
- Building and Construction
- Other End-Use Industries
By Region
- Europe
- Germany
- UK
- France
- Russia
- Rest of Europe
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