by The Bulk Molding Compound (BMC) is a ready-to-mold glass-filled thermoset composite material which is widely adopted to fabricate molded automobile body panels and exterior parts. BMC provides excellent manufacturability, good surface appearance, and enhanced mechanical properties which helps in creating lightweight but strong components. It has superior corrosion resistance and fatigue strength compared to conventional materials like metals.
The global Bulk Molding Compound (BMC) market is estimated to be valued at US$ 3.82 billion in 2024 and is expected to exhibit a CAGR of 4.5% over the forecast period between 2024 to 2031.
Key Takeaways
Key players operating in the Bulk Molding Compound (BMC) market are IDI Composites International, Toray Advanced Composites, SDK (Showa Denko K.K.), Polynt, Mar-Bal, Inc., Huayuan Group, Yueqing SMC&BMC, Polmix, Changzhou Fonda, Kyocera, Jiangshi Composite, Jinchuangyi Electric, Astar, Cuyahoga Plastics, CME (Composite Materials Engineering), Shimada, Wah Hong Industrial Corp., Retterbush Fiberglass Corporation, Beijing Red Sun Composite Material, and Utek Composite.
Bulk Molding Compound (BMC) Market trends include the growing demand from the automotive industry for lightweight and durable materials, which is a major factor driving the growth of the BMC market. Automakers are increasingly adopting BMC to manufacture various exterior automotive parts owing to its advantages like heat resistance, impact resistance, and surface finish. The increasing production of electric vehicles worldwide is further propelling the demand for BMC as it is an ideal material for EV components
Geographically, the Asia Pacific region dominates the global BMC market and the trend is expected to continue owing to rapid industrialization and growing automotive production volumes in major economies like China and India. Leading BMC manufacturers are expanding their production facilities in the Asia Pacific region to leverage the growth opportunity and strengthen their geographical presence. North America and Europe are other major markets for BMC driven by automotive, electrical and aerospace applications.
Market Key Trends
One of the key trends gaining traction in the BMC market is the development of hybrid composites integrating BMC with other materials like carbon and glass fiber. Such hybrid composites help achieve the perfect balance of physical, mechanical and electrical properties as per application requirements. They also improve recyclability. Leading players are focusing on R&D to widen the application scope of BMC hybrids in structural automotive parts, wind turbine blades, medical devices and more.
Porter’s Analysis
Threat of new entrants: New companies find it difficult to enter the BMC industry as it requires huge investments in setting up manufacturing facilities.
Bargaining power of buyers: Large buyers have significant bargaining power over manufacturers due to the consolidating nature of the BMC industry.
Bargaining power of suppliers: There are numerous resin suppliers for the BMC industry, giving buyers opportunities to source materials from various suppliers.
Threat of new substitutes: Alternative materials like carbon fiber reinforced plastic pose a threat to BMC, though BMC still holds advantage in terms of price.
Competitive rivalry: Bulk Molding Compound (BMC) Market Challenges and Opportunities include the high competitive rivalry in the industry due to many large players offering similar products
Geographical Regions
North America dominates the global BMC market in terms of value due to high demand from various end-use industries like automotive and electrical & electronics. The United States accounts for the largest share of the North American BMC market.
Asia Pacific exhibits the fastest growth in the global BMC market supported by developing nations like China and India. Being the largest automotive producer globally, China represents the major demand for BMC in the Asia Pacific region. Increasing exports of Chinese automotive components to other regions also support the BMC market growth.
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*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya
Ravina Pandya,Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. LinkedIn
