The global molding compounds market size was US$ 10.1 billion in 2021. The global molding compounds market size is estimated to reach US$ 16.3 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.5% during the forecast period from 2022 to 2030.
Request To Download Sample of This Strategic Report :-https://reportocean.com/industry-verticals/sample-request?report_id=bwcc17179
Molding compounds are combined materials that include phenolic, epoxy resins, polyester, silica, pigments, and others. They have different characteristics such as tenacity, heat resistance, high strength, and corrosion, and are dimensionally stable owing to such procedures, which are utilized in different end-use sectors such as automotive, electrical, and electronics, used in aerospace and industrial production.
Factors Influencing Market Growth
• Molding compounds are broadly used as a replacement for metals in many end-use industries such as construction and building and automotive, due to their lightweight, resistance to corrosion, land better insulation properties. Thus, these advantages drive the overall market growth.
• The increase in the concentration of producers, availability of feedstock at lowered costs, and the appearance of regional players have led producers to present molding compounds at low costs. These elements are accountable for the growth of the overall market.
• Molding compounds have a high initial price and careful design demands to produce using molding compounds improve complexity, which creates difficulties in manufacturing industries and thus, hinders the overall market growth.
Effect of the COVID-19 Pandemic
COVID-19 had an adverse impact on the overall market growth due to the disorders in the supply chain for different industrial products. The COVID-19 pandemic resulted in the shutdown of different production plants for a lengthy time, particularly in Asia-Pacific and Europe, due to which producers have encountered a lack of workforce and manufacturing losses. This hinders the overall market growth.
Regional Insights
The Asia-Pacific is expected to increase at the highest CAGR during the analysis period. This is due to the increasing demand for steel and iron from different end-use industries such as construction infrastructure, industrial, automotive, and others. This has led iron and steel manufacturers to expand their manufacturing abilities where molding compounds are broadly utilized for temperature stability purposes.
Get a Sample PDF copy of the report :-https://reportocean.com/industry-verticals/sample-request?report_id=bwcc17179
Leading Competitors
The prominent players in the global molding compounds market are:
• Henkel Adhesives
• Starfire Systems
• CAPLINQ Corporation
• IDI Composites International
• Sumitomo Bakelite
• SBHPP
• Hitachi Chemical
• Hexion
• BASF SE
• Mar-Bal
• Others
Segmentation Analysis
The global molding compounds market segmentation focuses on Resin Type, Application, and Region.
Segmentation on the basis of Resin type
• Phenolic
• Epoxy
• Polyester
• Others
Segmentation on the basis of Application
• Electrical and Electronics
• Aerospace
• Automotive
• Others
Browse Premium Research Report with Tables and Figures at :-https://reportocean.com/industry-verticals/sample-request?report_id=bwcc17179
Segmentation on the basis of Region
• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America
Key questions answered in the global market report are:
— How does a global company acquire markets?
— What are its core strategies and policies?
— What factors will influence the market over the forecast period?
— What are the factors driving and restraining the market?
— What are the leading competitors in the global market?
— Which region is growing at a higher pace in the global market?
Full Report Description, TOC, Table of Figure, Chart, etc.-https://reportocean.com/industry-verticals/sample-request?report_id=bwcc17179
About Report Ocean:
We are the best market research reports provider in the industry. Report Ocean believes in providing quality reports to clients to meet the top line and bottom line goals which will boost your market share in today’s competitive environment. Report Ocean is a ‘one-stop solution’ for individuals, organizations, and industries that are looking for innovative market research reports.
Get in Touch with Us:
Report Ocean:
Email:sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, Illinois 60611 – UNITED STATES Tel: +1 888 212 3539 (US – TOLL FREE)
Website:https://www.reportocean.com/