The Europe SMC BMC market is growing along with the Chemicals and Materials industry, but the market is likely to slow down its growth due to the shortage of skilled professionals, suggests the Business Market Insights report.
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 result 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.The properties of SMC and BMC compounds such as light weight, long life, better mechanical properties, resistance to fire, corrosion & chemical, low smoke emission, and good abrasion resistant surface are the key factors propelling the SMC BMC market growth in the European region. Moreover, adoption of sustainable materials in various industries further offers ample opportunity for the key players to expand their business in the Europe SMC BMC market.
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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.
These factors are expected to offer broad growth opportunities in the Chemicals and Materials industry and this is expected to cause the demand for Europe SMC BMC in the market.
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Europe SMC BMC Market – MARKET SEGMENTATION
SMC BMC Market – By Resin Type
- Other Resin types
SMC BMC Market – By Fiber Type
- Glass Fiber
- Carbon Fiber
SMC BMC Market – By End-Use Industry
- Automotive and Transportation
- Electrical and Electronics
- Building and Construction
- Other Applications
- ASTAR S.A.
- Core Molding Technologies
- IDI Composites International
- Toray TCAC Holding B.V.
- SHOWA DENKO K.K.
- HGGC, LLC.
- Continental Structural Plastics Inc.
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