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

Key Developments

• In 2023, Toray industries, a multinational corporation developed Rapid Integrated Molding Technology for carbon fiber reinforced polymer (CFRP) mobility components.
• In 2022, Evonik unveiled its latest innovation, the Pure Performance Battery, representing a new generation of battery packs designed specifically for electric vehicles (EVs). This cutting-edge solution is notable for its lightweight construction and is produced using advanced synthetic sheets.
• In 2021, GE Renewable Energy’s grid solutions business and Hitachi ABB Power Grids Ltd. announced a strategic partnership to combine their efforts in developing and implementing SF7 gas, an innovative alternative to sulfur hexafluoride (SF6) for use in heavy machinery applications. This collaboration aims to enhance the sustainability and efficiency of grid solutions.
• In 2020, Toray International, a leading global materials company, announced that it had signed an agreement with Astar, a U.K.-based company, for the supply of Continuous Sheet Molding Compound (CSMC) material in the U.K.