SMC is a mixture of inert fillers, resins, and fiber reinforcements. It is a fiber-reinforced polymer composite. It is often used in applications such as transportation, construction, among others, pertaining to its high strength to density ratio and corrosion resistance. The low cost of SMC makes it favorable over other traditional materials, for instance, iron and steel. BMC is also a mixture of inert fillers, fiber reinforcements, and resins. BMC is generally produced by the injection molding process, whereas SMC is mainly produced by the compression molding process. The SMC and BMC market is estimated to grow from USD 2.36 Billion in 2015 to USD 3.26 Billion by 2020, at a compound annual growth rate (CAGR) of 6.69% from 2015 to 2020.

The major applications of SMC and BMC are transportation, electrical & electronics, construction, and others. Other applications include industrial, medical, household appliances, renewable energy, and so on. Transportation is estimated to be the fastest-growing application for SMC, whereas electrical & electronics to be the fastest-growing market for BMC during the forecast period. 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. Depending upon the end use application SMC and BMC are formulated to achieve strength, stiffness, corrosion resistance, flame resistance, and high dimensional stability.

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Increasing demand for lightweight and superior mechanical properties of SMC and BMC will drive the market in transportation application

The major factor driving the SMC and BMC market is the usage of these materials in the transportation application due to its lightweight and good mechanical properties. High demand for fuel-efficient vehicles is also acting as a crucial factor for the growth of the SMC and BMC market. These products offer superior properties including high corrosion resistance, high strength and rigidity, fire & flame resistance, and good electrical insulation.

Transportation application: one of the key segments in the SMC and BMC market

The transportation application will be the fastest-growing segment of the SMC market during the forecast period, whereas electrical & electronics application is expected to propel the growth of the BMC market. SMC finds various applications in the automotive industry, which includes deck-lids, front ends, spoilers, bonnets, and hoods. BMC is also used in automotive parts such as headlight liners, valve covers, and ignition parts. BMC possesses good electrical insulation properties, therefore it is majorly used in the electrical & electronics parts such as motor and anchor insulators, fuses, and switchgear.

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The major resins used for the manufacturing of sheet molding compound and bulk molding compound are polyester and other resins. The polyester-based SMC and BMC have the largest market share in the global SMC and BMC market. Polyester resins show good corrosion resistance, dimensional stability, and chemical resistance properties, which enhance the longevity of SMC and BMC materials. SMC and BMC composites based on polyester resin exhibit good fire and flame resistance properties, thus, they are being used in electrical & electronics application. Retention of electrical properties even at elevated temperatures has made polyester insulators the materials of choice in many applications. Polyester resins are generally reinforced with glass fibers to impart strength and stiffness to the composite materials. Polyester resin-based SMC and BMC are the fastest-growing resins in the SMC and BMC market. Other resins includes vinyl ester, epoxy, phenolic, and PEEK resins

Target Audience

SMC and BMC manufacturers
Resin manufacturers
Raw material suppliers
Distributors & suppliers
Industry associations
By Fiber Type:

Glass Fiber
Carbon Fiber
By Resin Type:

Polyester
Others
By Application:

Transportation
Electrical & Electronics
Construction
Others
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