LONDON, May 12, 2016 /PRNewswire/ -- "Increasing demand for lightweight, high strength, and fire & temperature resistance materials to propel the growth of SMC and BMC market"
The growth of SMC and BMC is largely associated with the increasing demand for lightweight and strong composite materials, which are used in various end-use industries such as transportation, electrical & electronics, construction, and among others. Lightweight and good mechanical properties are a pre-requisite for the parts that are to be used in the transportation sector. Weight is an important factor for the performance of a vehicle. A slight reduction in weight can have a major effect on the performance of a vehicle, which offers scope regarding the usage of SMC and BMC materials in the transportation industry. Due to their excellent electrical insulation, good mechanical properties, and surface appearance, SMC and BMC materials are preferred over other traditional materials such as iron, aluminum, and steel regarding their usage in end-use industries.
"Transportation and electrical & electronics application to drive the SMC and BMC market during the forecast period"
Composites are becoming a core strategic material for automotive OEMs for structural and non-structural components. The transportation application is expected to contribute the largest market share during the forecast period. SMC and BMC possess properties such as high strength, dimensional stability, and corrosion resistance, which make them an ideal material to be used in trucks and automotive exterior and interior parts. Moreover, the BMC market in electrical & electronics application is estimated to witness growth in the coming five years. This is due to the increasing usage of BMC materials because of properties exhibited by them such as fire & flame resistance, dimensional stability, and so on.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted as follows:-
- By Company Type: Tier 1 (50%), Tier 2 (37%), and Tier 3 (13%)
- By Designation: C-level (46%), Director Level (33%), and other (21%)
- By Region: North America (34%), Europe (31%), Asia-Pacific (23%), and RoW (12%)
Various key players profiled in the report are as follows:
1. IDI Composite International (U.S.),
2. Citadel Plastics Holding Inc. (U.S.),
3. Menzolit GmbH (Germany),
4. Polynt S.p.A. (Italy),
5. Core Molding Technologies Inc. (Italy) ,
6. Continental Structural Plastics Inc. (Michigan),
7. Royal Tencate N.V. (Netherlands),
8. Showa Denko K.K. (Japan),
9. Changzhou Runxia Fiberglass Products Co., Ltd. (China), and
10. Astar S.A. (Spain).
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the SMC and BMC market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand the competitor and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers & acquisitions.
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