Press release
Sheet Molding Compound Market is Forecasted to Reach US$ 3.6 billion in 2026, Says Stratview Research
Stratview Research, a global market research firm has launched a report on the global Sheet Molding Compound Market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
Click here to get a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/2496/sheet-molding-compound-market.html#form
Report Highlights:
Market Size in 2026: US$ 3.6 billion
Growth (CAGR): 5.0% during 2021-2026
Forecast Period: 2021-2026
Trend Period: 2015-2019
Base Year: 2020
Number of Segments Covered: 5
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20
Segment Insights on the Sheet Molding Compound Market:
The global Sheet Molding Compound Market is segmented end-use industry type, fiber type, resin type, density type & region
Based on the end-use industry type: The market is segmented as transportation, construction, consumer goods, electrical & electronics, and others. The transportation segment is further divided into light vehicles and MHCVs. Transportation is expected to remain the biggest demand generator for SMCs in terms of both value and volume during the forecast period. SMC is considered an ideal material for fabricating class-A body panels. SMC offers excellent part finish, excellent corrosion resistance, superior mechanical performance, and greater electrical insulation and heat resistance properties, addressing several market requirements. Furthermore, automakers can produce 150,000-200,000 parts per annum from SMCs, perfectly aligned with the 2-5-minute cycle time of the industry. Construction, another noticeable market for SMCs, is likely to be the fastest-growing market in the coming five years.
Based on the fiber type: The market is segmented as glass composites and other composites. Glass fiber remains the perennial choice of material for making SMCs in the foreseen future. Glass fiber offers numerous advantages over other fibers at the lowest cost, justifying its applicability in a large number of applications. All the major markets including transportation, construction, consumer goods, and electrical & electronics, extremely rely on glass fiber-reinforced SMCs. Carbon fiber, a lightweight material, is rapidly gaining market traction in the wake of its advantages suited to the industry-burning challenges. The material type is gaining more traction in Europe and North America, especially in electric and premium vehicles.
To know the most attractive segments, click here for a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/2496/sheet-molding-compound-market.html#form
Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests Asia-Pacific is expected to remain the largest market for SMCs over the next five years. This growth outlook is majorly attributed to the following-
• Growing penetration of SMCs in automobiles paired with greater production of vehicles. China, Japan, Korea, and India are the leading producers of automobiles.
• There has been an increase in the use of composite materials, more specifically compounds, in the region's automotive industry over the eons, making the region the biggest demand generator among all regions.
• Furthermore, the region is the largest market for the construction, consumer goods, and electrical & electronics industries. North America and Europe are the other major markets for SMCs in the wake of high usage of their vehicles.
Sheet Molding Compound Market Drivers:
The Sheet Molding Compound Market is driven by several key factors, including:
Superior Material Properties - SMC offers excellent mechanical strength, corrosion resistance, thermal resistance, weight reduction, electrical performance, and low emissions, making it a preferred material across various industries.
Growing Demand in Automotive & Construction - The increasing use of lightweight and high-performance materials in the automotive and construction industries is driving the demand for SMC.
Recovery from the Pandemic - The post-pandemic economic recovery has led to a resurgence in demand for SMC, particularly in key industries like automotive and construction.
Top 10 Companies in the Sheet Molding Compound Market:
Stratview Research has identified the following companies as the top market players:
• The Polytec Group
• IDI Composites International
• Polynt S.P.A.
• Premix Inc.
• Lorenz-Kunststofftechnik GmbH
• Menzolit GmbH
• Huayuan Advanced Materials Co., Ltd. (HAMC)
• Core Molding Technologies, Inc
• Continental Structural Plastics
• Changzhou City Jiangshi Composite Technology Co. Ltd.
What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Sheet Molding Compound Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?
For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com
Related Reports:
• Sheet and Bulk Molding Compound Market: https://www.stratviewresearch.com/594/sheet-and-bulk-molding-compound.html
• Bulk Molding Compound Market: https://www.stratviewresearch.com/2499/bulk-molding-compound-market.html
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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.
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