Global in-mold coatings market to reach $273.8 million by 2027

New York, Y – Reportlinker.com announces the release of the report Global In-Mold Coatings Industry. In the changed post COVID-19 business landscape, the global market for In-Mold Coatings estimated at US$196.9 Million in the year 2020, is projected to reach a revised size of US$273.8 Million by 2027, growing at a CAGR of 4.8% over the analysis period 2020-2027. Sheet Molding Compounds, one of the segments analyzed in the report, is projected to record a 5.5% CAGR and reach US$120.5 Million by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Thermoplastics segment is readjusted to a revised 4.3% CAGR for the next 7-year period.

The U.S. Market is Estimated at $54.2 Million, While China is Forecast to Grow at 8.2% CAGR

The In-Mold Coatings market in the U.S. is estimated at US$54.2 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$55.7 Million by the year 2027 trailing a CAGR of 8.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.5% and 4.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.3% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$35.7 Million by the year 2027.

Bulk Molding Compounds Segment to Record 4.8% CAGR

In the global Bulk Molding Compounds segment, USA, Canada, Japan, China and Europe will drive the 4.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$28.3 Million in the year 2020 will reach a projected size of US$38.4 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 5.2% CAGR through the analysis period.