Bulk Molding Compound (BMC) Market Size, Trends and Growth Analysis by 2027

The global market for bulk molding compounds (BMC) was valued at approximately US$ 1,167.64 million in 2019 and is anticipated to grow to US$ 1,650.58 million by 2027, reflecting a compound annual growth rate (CAGR) of 4.6% from 2020 to 2027.

BMC is produced by combining unsaturated thermoset resins, such as polyester, vinyl ester, or epoxy resins, with chopped glass fibers, styrene, an initiator, and fillers in a mixer. The mixing process occurs at room temperature, and the mixture is stored at lower temperatures to delay curing until molding is required. In recent years, sustainability has emerged as a critical consideration in advanced manufacturing. The growing emphasis on environmental responsibility, coupled with the introduction of improved sustainable materials, is expected to further enhance the demand for eco-friendly products. BMC products are recognized for their lower environmental impact compared to traditional materials like metals, thermoplastic polymers, and concrete. They offer advantages such as reduced manufacturing impact, lighter weight during use, extended lifespan, and recyclability of BMC components. Consequently, the overall life cycle impact of BMC is significantly lower than that of alternative materials. Additionally, while styrene, a key component of BMC, can make the material brittle, it is deemed safe for the environment and poses no harm to human health. BMC also exhibits low emissions and does not produce hazardous byproducts during manufacturing. Furthermore, the BMC sector adheres to regulations outlined in the REACH agreement, making it suitable for greener applications, including green energy production and the manufacturing of lightweight electric vehicles. The increasing adoption of sustainable materials across various sectors, driven by a shift towards a greener future, is likely to propel the demand for BMC in multiple industries.

The BMC market is categorized by resin type into polyester, vinyl resin, and others, with the latter further divided into vinyl ester and epoxy resin. Epoxy compounds, which include glycidyl esters, diglycidyl esters, and glycidyl amines, serve as reactive diluents added to base resins to modify performance characteristics. In 2019, the polyester segment led the market. Polyester resins are created through the reaction of polyols, such as glycol or ethylene glycol, with dibasic acids like phthalic or maleic acid. These unsaturated resins are combined with hardeners or catalysts that alter the molecular structure of the resulting compound while generating heat. An example of such a hardening agent is methyl ethyl ketone peroxide (MEKP). Vinyl ester resins are produced by reacting epoxy resin products with ethylenically unsaturated carboxylic acids. These thermoset resins, based on epoxy, share properties with unsaturated polyester resins and are considered a viable alternative in composite materials, including BMC.

Geographically, the BMC market is segmented into North America, Europe, Asia Pacific (APAC), South America (SAM), and the Middle East and Africa (MEA). In 2019, the Asia Pacific region held the largest share of the global BMC market, followed by North America and Europe. Companies in this sector are continually improving their business processes to better meet customer demands. BMC finds extensive applications across various industries, including automotive, aerospace, home appliances, and electrical and electronics. The growth of these sectors is expected to drive the demand for BMC in the United States. In Canada, the rising demand for BMC is fueled by increasing purchasing power and disposable income, which have indirectly stimulated growth in the automotive and construction industries. Mexico's economy has shown resilience in recent years, largely due to its robust manufacturing sector, with free trade policies boosting industrial manufacturing, production, and assembly activities in the country.

The COVID-19 pandemic, which began in Wuhan, China, in December 2019, has rapidly spread worldwide, significantly impacting countries like the US, India, Brazil, Russia, Spain, Mexico, and Argentina, as of September 2020. The pandemic has disrupted economies and industries due to lockdowns, travel restrictions, and business closures, adversely affecting the global chemicals and materials sector. These challenges have hindered the growth of the BMC market.

Key players in the global BMC market include Astar S.A., Core Molding Technologies, IDI Composites International, Toray TCAC Holding B.V., MENZOLIT, Polynt SpA, SHOWA DENKO K.K., Dasyc S.A., Lorenz Kunststofftechnik GMBH, and HGGC, LLC.

The overall size of the global BMC market has been determined through both primary and secondary research methods. The research process began with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the market. Additionally, numerous primary interviews were conducted with industry participants and experts to validate the data and gain further analytical insights. Participants typically included industry professionals such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants like valuation experts, research analysts, and key opinion leaders specializing in BMC.