Global Molding Compound Market Size By Resin Type, By Application, By Geographic Scope And Forecast
Molding Compound Market Size And Forecast
Molding Compound Market was valued at USD 9.87 Billion in 2019 and is projected to reach USD 15.24 Billion by 2027, growing at a CAGR of 5.6% from 2020 to 2027.
Global Molding Compound Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and restraints are intrinsic factors
whereas opportunities and challenges are extrinsic factors of the market.
The increasing requirements for the highly efficient resistance to heat and corrosion components in the automotive, aerospace, electrical, and other sectors are the primary factor propelling the growth of the market. In addition, the growing demand for the lightly weighted and fuel-efficient compounds is another factor contributing to accelerate market growth. Furthermore, the benefit of manufacturing the small and complex parts is imposing a positive outlook on the market growth. However, the high cost associated with raw materials is hampering the growth of the market.
Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The Global Molding Compound Market is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market.
Global Molding Compound Market Competitive Landscape
The Global Molding Compound Market study report will provide a valuable insight with an emphasis on global market including some of the major players such as Huntsman International LLC., Kolon Industries Inc., Ashland Inc., Evonik Industries, Kukdo Chemical Co. Ltd., Hexion Inc., BASF SE, Kyocera Chemical Corporation, Hitachi Chemical Co., and Eastman Chemical Co.
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