Press release
Sheet Molding Compound Market 2018-2023 Key Players | Notable participants in the sheet molding compound (SMC) market include IDI Composites International (U.S.), Menzolit (Germany), Polynt (Italy), Continental Structural Plastics Inc. (U.S.), Zoltek Corp
Sheet Molding Compound (SMC) Market
Market Synopsis
The global sheet molding compound (SMC) market is expected to exhibit a 4.79% CAGR, on the basis of value, from 2018 to 2023 (forecast period), as per the latest report by Market Research Future (MRFR). SMC is a carbon-fiber reinforced thermoset or glass-fiber manufactured with the compression molding process.
Rising demand for lightweight materials for production of parts is expected to bolster market demand in the forthcoming years. This is further substantiated by the demand for commercial and passenger vehicles which are enveloped by stringent emission regulations. Furthermore, growing electric vehicle sales can positively impact the market.
Competitive Dashboard:
Key players operating in the sheet molding compound (SMC) market include Molymer SSP Co., Ltd. (Japan), Menzolit (Germany), Zhejiang Sida New Materials Co., Ltd. (China), Huayuan Advanced Materials Co., Ltd. (China), Zoltek Corporation (U.S.), Devi Polymers Private Limited (India), Zhejiang Yueging SMC & BMC Manufacture Factory (China), Beijing New Friend Insulation Material Co., Ltd. (China), Changzhou Tianma Group Co., Ltd. (China), Continental Structural Plastics Inc. (U.S.), Polynt (Italy), Jiangsu Zhaojun New Material Co., Ltd. (China), IDI Composites International (U.S.), DIC Corporation (Japan), Changzhou City Jianghsi Composite Technology Co., Ltd. (China), Core Molding Technologies (U.S.), and Showa Denko K.K. (Japan).
Receive Sample Report @ https://www.marketresearchfuture.com/sample_request/6625
egmentation Analysis:
The sheet molding compound (SMC) market is segmented on the basis of type and application.
By type, the market is segmented into electronic insulators, flame resistance, corrosion resistance, general purpose, and others. The flame resistance segment accounted for 30% share of the SMC market in 2017, followed by electronic insulators (24.6%), corrosion resistance (19.9%), general purpose (15.2%), and others (10.3%). Flame resistance type can reach a valuation of USD 607.7 million by 2023 at a CAGR of 4.66% during the forecast period owing to high demand for SMCs in transportation and realty sectors. Electronic insulators can grow at the highest CAGR of 5.21% during the forecast period to touch a value of USD 513.6 million by 2023.
Major applications comprise automotive, electrical & electronics, building & construction, and others. The automotive segment accounted for USD 537.3 million in 2017. It is predicted to touch USD 722.3 million by 2023. Stringent environmental regulations coupled with rising production of lightweight vehicles is anticipated to fuel the segment growth till the end of the forecast period. The electrical & electronics application is predicted to accrue USD 504.6 million by 2023. This can be attributed to demand for carbon fiber reinforced plastic (CFRP) or glass reinforced fibers derived products.
Access Report Details @ https://www.marketresearchfuture.com/reports/sheet-molding-compound-smc-market-6625
Regional Analysis:
The worldwide sheet molding compound (SMC) market covers the latest trends and opportunities across Latin America, North America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The APAC region accounted for nearly 34% share in 2017. It is expected to touch a size of USD 716.5 million by 2023. Rising demand for automobiles coupled with improved living standards can boost the market volume exponentially till 2023. Increasing production of electric vehicles in China is touted to positively impact the market. The APAC SMC market can accumulate demands totaling 631.9 KT by 2023 at a 5.06% CAGR over the forecast period.
North America assumed the second position in the SMC market with 29% share in 2017, followed by Europe (24.4%). The North American region is expected to contribute to market revenue owing to high demand for automobiles. The need for luxury cars coupled with inclination towards electric vehicles is likely to spur the sheet molding compound (SMC) market by 2023. Europe can perform well owing to stringent emission policies outlined by regulatory bodies in the region. The inclination of consumers towards composite materials is expected to favor the market till the end of the forecast period.
The Latin America region is driven by needs of consumers in Brazil and Mexico. Changing lifestyles of consumers coupled with increased disposable income levels can expedite the demand for SMCs in the region. New infrastructural projects by nations can also create opportunities. The MEA market can expand at a 4.99% CAGR over the forecast period to touch a valuation of USD 110.3 million by 2023. It is forecasted to command a market volume of 96.7 KT in the same year.
Analysis Period
Base Year - 2017
Projection Period - From 2018 to 2023
Market Denomination - USD Million
Conversion Rate - Considered as per the respective financial years
Intended Audience
Sheet molding compound manufacturers
Suppliers and distributors
Potential investors
Raw material suppliers
Associations
Government
End Use Industries
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune - 411028
Maharashtra, India
+1 646 845 9312
Email: sales@Market research future.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Sheet Molding Compound Market 2018-2023 Key Players | Notable participants in the sheet molding compound (SMC) market include IDI Composites International (U.S.), Menzolit (Germany), Polynt (Italy), Continental Structural Plastics Inc. (U.S.), Zoltek Corp here
News-ID: 1459175 • Views: …
More Releases from Market Research Future (MRFR)
Tofu Market to Reach USD 2.7 Billion by 2032 at 9.01% CAGR Driven by Rising Plan …
The global tofu market is poised for substantial growth over the next decade, projected to reach an impressive valuation of USD 2.7 billion by 2032. This expansion reflects a compound annual growth rate (CAGR) of 9.01% from 2024 to 2032, fueled by a surge in consumer demand for plant-based foods and an evolving global food culture. As more consumers seek healthier and sustainable alternatives to animal-based protein sources, tofu has…
Plant-Based Food Ingredients Market to Hit USD 40.2 Billion by 2035 at 7.96% CAG …
The global plant-based food ingredients market is witnessing remarkable growth, propelled by an increasing shift in consumer preferences toward healthier and more sustainable food options. According to recent market research by Market Research Future, the market was valued at USD 16.03 billion in 2023 and is projected to reach an impressive USD 40.2 billion by 2035. This growth trajectory is expected to continue at a compound annual growth rate (CAGR)…
Semolina Market to Reach USD 2.57 Billion by 2032 at 2.31% CAGR, Driven by Healt …
The global semolina market is poised for steady growth over the coming decade, with its valuation expected to reach USD 2.57 billion by 2032. According to the latest Market Research Future analysis, the market was valued at USD 2.12 billion in 2023 and is projected to expand from USD 2.14 billion in 2024 to USD 2.57 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 2.31% during the…
Ginger Extract Market to Reach USD 2.18 Billion by 2034 at 5.4% CAGR Driven by D …
The global ginger extract market is poised for substantial growth in the coming decade, with a projected valuation of USD 2.18 billion by 2034. According to the latest analysis from Market Research Future, the market was valued at USD 1.29 billion in 2024 and is expected to grow at a compound annual growth rate (CAGR) of 5.4% from 2025 to 2034. This robust growth trajectory is largely fueled by increasing…
More Releases for SMC
SMC Announces LOI to Acquire Chaintrade LTD.
Image: https://www.getnews.info/wp-content/uploads/2024/05/1715186178.png
Boca Raton, Florida - May 8, 2024 - SMC Entertainment, Inc. ("SMC" or the "Company") (OTC: SMCE), an incubator company focused on acquisition and support of commercialized financial services and technology (Fintech) companies, is excited to announce they have signed an LOI to acquire Chaintrade LTD, an AI Fintech company. Chaintrade has developed an AI Powered Asset Trading Platform that allows users to trade any Equity, ETF, Commodity, and…
SMC Announces Marketing Agreement with Plato Technologies. Inc.
Image: https://www.getnews.info/wp-content/uploads/2024/04/1713502652.png
BOCA RATON, FL - April 19, 2024 - SMC Entertainment, Inc. ("SMC" or the "Company") (OTC PINK: SMCE) SMC / (PINK:SMCE [https://www.marketscreener.com/quote/stock/SMC-ENTERTAINMENT-INC-7964681/]) is pleased to announce a marketing agreement and collaboration with Plato Technologies Inc.
Plato Technologies specializes in AI content disruption and AI management systems. The collaboration will enable the Company to market Plato's platform directly to web and content development teams. The companies have agreed on a revenue…
Rodless Actuators Market 2022 Strategic Assessment - Hunt Valve Company, Norgren …
This report studies the Rodless Actuators Market with many aspects of the industry like the market size, market status, market trends, and forecast, the report also provides brief information of the competitors and the specific growth opportunities with key market drivers. The report offers valuable insight into the Rodless Actuators market progress and approaches related to the Rodless Actuators market with an analysis of each region. The report goes on…
SMS Machine Automation announce deals with ABB and SMC
27th November 2019
Yorkshire based automation provider finish year on a high, signing separate deals with international industrial giants ABB and SMC.
SMS Machine Automation (SMS) are celebrating two trade partnership deals that will provide further opportunities for development and expansion in 2020 and beyond in the field of process automation and motion control.
In short the deals not only open more doors for SMS but also add credence to what they do…
Electrostatic Eliminator Market 2017 - Simco, SMC, KEYENCE, Sunje, HDion
A market study based on the "Electrostatic Eliminator Market" across the globe, recently added to the repository of Market Research, is titled ‘Global Electrostatic Eliminator Market 2017’. The research report analyses the historical as well as present performance of the worldwide Electrostatic Eliminator industry, and makes predictions on the future status of Electrostatic Eliminator market on the basis of this analysis.
Get Free Sample Copy of Report Here : https://goo.gl/5U1WYI
Top Manufacturers…
Special Materials Company (SMC) Subsidiary Opens In Switzerland
July 29, 2011. Special Materials Company (SMC) announces the opening of a European subsidiary in Switzerland, and appoints Christoph Mielke to the post of Global Managing Director of Phosphorous Derivatives.
Mielke’s background includes over 15 years of sales and marketing functions at the CECA/Arkema Group prior to becoming the Managing Director of the new SMC Swiss office.
With this European entity; Special Materials Company (SMC) is committed to expand its business activities…
