Report : Europe Bulk Molding Compound (BMC) Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Resin Type (Polyester, Vinyl Resin, and Others), Fiber Type (Glass Fiber and Carbon Fiber), and Application (Electrical Industry, Automotive Industry, and Others)
Polyester Segment to Dominate Europe Bulk Molding Compound (BMC) Market during 2020–2027
According to The Insight Partners market research study on “Europe Bulk Molding Compound (BMC) Market Forecast to 2027 – Covid-19 Impact and Analysis - By Resin Type (Polyester, Vinyl Resin, and Others); Fiber Type (Glass Fiber and Carbon Fiber); and Application (Electrical Industry, Automotive Industry, and Others)”, the market is expected to reach US$ 340.02 million by 2027 from US$ 239.60 million in 2019; it is estimated to grow at a CAGR of 4.6% from 2020 to 2027. The report provides trends prevailing in the Europe bulk molding compound market, and the drivers and restraints pertaining to the market growth. There is an increase in demand for lightweight, high strength, and fire resistance materials from various industrial sectors as well as the growth of construction industry are the major factors driving the growth of the Europe bulk molding compound market. However, in comparison with traditional materials the cost of raw materials is considered to be high is one of the main reason that is hindering the growth of bulk molding compound market in developing countries in Europe.
The bulk molding compound market in Europe is segmented into resin type, fiber type and application. Based on resin type, the market is segmented into polyester, vinyl resin and others. In 2019, the polyester segment held the largest share of the Europe bulk molding compound market. BMC composites are made up of polyester resin coupled with various fibers. Fibers manufactured from polyesters are made up of stable and strong ion molecules, filament, tow, and fiberfill are the four basic forms of polyester. These composites are used in various end-use industries including automotive, construction, electronics, and many others. However, the outbreak of COVID-19 and lockdown imposed by the governments across Europe is anticipated to have a huge disruption in the growth of various industries across Europe. The governments across Europe are taking measure like travel bans, business shutdowns, and lockdown, which is expected to hamper the anticipated revenue generation and growth opportunities for coming months.
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 leading companies in the Europe bulk molding compound market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
The Report Segments the Europe Bulk molding compound Market as Follows:
Europe Bulk Molding Compound Market, by Resin Type
Europe Bulk Molding Compound Market, by Fiber Type
Europe Bulk Molding Compound Market – by Application
Europe Bulk Molding Compound Market – by Country