BULK MOLDING COMPOUND (BMC) MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Market Concentration and Competitive Landscape

Close-monitor your Competitor's Move, Request sample copy

Increasing demand for electric and hybrid vehicles

Increasing demand for electric and hybrid vehicles is significantly driving the growth of the global bulk molding compound (BMC) market. Electric vehicles require complex circuitry and efficient battery modules to store and discharge electricity efficiently. BMC provides properties like strength, rigidity and thermal resistance that are ideal for housing such intricate precision components. As BMC can be easily molded into complex shapes needed for compact packaging, it is increasingly being used by automakers to manufacture casings and housings for electric vehicle batteries, electric motors, chargers and other electrical control units.

There is a growing momentum towards sustainable clean energy driven transportation globally. Many countries have outlined targets and timelines to shift a significant portion of their vehicle fleet to electric. For instance, countries like China, USA, UK, France and Germany have set goals for electric vehicle sales targets between 30-50% of total vehicles sold by 2030. This policy push is translating to huge investments by automakers in developing electric models. According to the International Energy Agency, electric car stock globally increased by 43% to 10 million in 2021 alone. Their projections estimate electric car sales could rise to over 145 million by 2030. The growing electric vehicle fleet will undoubtedly fuel greater demand for advanced materials like BMC from the automotive industry in coming years.

• 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
• Utek Composite