Press release
Sheet Molding Compound Market | Molymer SSP Co., Ltd. , Menzolit , Zhejiang Sida New Materials Co., Ltd. , Huayuan Advanced Materials Co., Ltd
Sheet Molding Compound Market
Key Players:
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).
Market Overview:
Sheet Molding Compound Market is poised to touch a valuation of USD 2,042.4 million by 2023, as per the latest report by Market Research Future (MRFR). It was previously worth USD 1,550.8 million in 2017. Sheet molding compound is a ready-to-mold composite material which finds use in numerous applications. Increasing demand for SMC in automotive and electronic sectors is expected to propel market demand from 2018 to 2023 (forecast period).
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.
The expanding construction industry is expected to induce demand for SMC in the forthcoming years owing to high usage of carbon fiber and glass grids in modern projects. Use of sustainable materials is projected to bode well for th SMC market over the forecast period.
Factors fueling market growth include continuous sales of electric and commercial vehicles, demand for fuel-efficient vehicles, and lightweight materials in the construction sector. Stringent policies related to emissions is likely to influence market growth over the forecast period. Development of composite materials to be used in concrete structures for meeting sustainability goals can portend high growth for the SMC market in the forthcoming years.
But issues regarding the recyclability of SMC continue to pose a challenge to the market.
Segments:
The Sheet Molding Compound 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 Full Report Details @ https://www.marketresearchfuture.com/reports/sheet-molding-compound-smc-market-6625
Regions:
The worldwide Sheet Molding Compound 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 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.
Contact Us:
WantStats Research and Media Pvt. Ltd.
Office No. 528, Amanora Chambers
Pune - 411028
Maharashtra, India
Sales: +1 628 258 0071(US) +44 2035 002 764(UK)
Human Resource: +91 20-48532201
Mail : info@marketresearchfuture.com
About Us:
information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and also about what action to take based on these aspects.
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 | Molymer SSP Co., Ltd. , Menzolit , Zhejiang Sida New Materials Co., Ltd. , Huayuan Advanced Materials Co., Ltd here
News-ID: 2204455 • Views: …
More Releases from MRFR
U.S. Offshore Wind Market: Scaling Clean Power Along the Coasts with Floating an …
The U.S. Offshore Wind Market is entering a transformative era as federal and state governments, energy developers, and technology providers unite to harness the vast wind energy potential of the Atlantic and Pacific coastlines. Once lagging Europe and Asia, the United States is now rapidly building momentum with bold policy support, multibillion-dollar investments, and ambitious renewable energy targets.
With an estimated technical potential exceeding 2,000 GW-nearly double the nation's current electricity…
U.S. Smart Gas Meter Market: Digitizing Utility Networks for Safety, Accuracy, a …
The U.S. Smart Gas Meter Market is experiencing a strong surge as utilities across the country upgrade traditional gas meters with intelligent, connected solutions. These advanced meters enable real-time monitoring, data analytics, and remote management of gas usage, aligning with broader trends in smart grid development, customer engagement, and infrastructure modernization.
As the U.S. energy landscape evolves with an emphasis on efficiency, transparency, and sustainability, smart gas meters are playing an…
Brazil Solar Inverter Market: Driving Clean Energy Access with Smart Solar Solut …
As one of the largest renewable energy producers in Latin America, Brazil is rapidly embracing solar power as a key component of its clean energy mix. At the heart of this transformation lies the solar inverter-a critical technology that converts direct current (DC) from photovoltaic (PV) panels into usable alternating current (AC). The Brazil Solar Inverter Market is growing steadily, driven by supportive government policies, grid modernization, and increasing demand…
Renewables Blade Repair & Maintenance Market: Extending Wind Turbine Lifespan Th …
The global shift to clean energy has made wind power a cornerstone of sustainable electricity generation. As wind installations expand globally, the importance of maintaining and repairing turbine components-especially blades-has grown significantly. The Renewables Blade Repair & Maintenance Market has emerged as a critical segment in ensuring long-term performance, safety, and return on investment for both onshore and offshore wind assets.
Request To Free Sample of Report: https://www.marketresearchfuture.com/sample_request/43415
Key Companies in the…
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…
