Press release
Lucintel Forecasts Sheet Molding Compound Market to Reach $4.0 billion by 2031
Key data points: The market size in 2024 = $2.9 billion, growth forecast = 4% annually for the next 7 years. Scroll below to get more insights. This market report covers trends, opportunities, and forecasts in the sheet molding compound market to 2031
According to the recent study the sheet molding compound market is projected to reach an estimated $4.0 billion by 2031 from $2.9 billion in 2024, at a CAGR of 4.0% from 2024 to 2031. Growth in this market is primarily driven by increasing use of lightweight materials in transportation, and performance benefits, such as lower corrosion in construction and higher thermal resistance in E&E industries.
Browse 140 figures / charts and 97 tables in this 205 -page report to understand trends, opportunities and forecast in sheet molding compound market by end use (transportation, electrical and electronics, construction, and others), fiber type (glass fiber and carbon fiber), resin type (polyester, vinyl ester and others), density (low density, and mid and high density), and region (North America, Europe, Asia Pacific and the Rest of the World).
Lucintel forecasts that in this market, electrical and electronics will remain the largest end use segment due to its excellent insulating properties and flame resistance.
Glass fiber based SMC will remain the largest segment over the forecast period supported by its high performance characteristics and it is also expected to witness the highest growth over the forecast period.
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Asia Pacific is expected to remain the largest market by value and volume. ROW is expected to witness the highest growth over the forecast period because of growing demand from construction and other end uses.
Teijin Limited, Polytec Group, IDI Composites International, Polynt Group, Lorenz, Menzolit GmbH, Ningbo HAMC Group, Core Molding Technologies, Changzhou Jiang's Composite Materials Technology Co., Ltd., LyondellBasellare the major suppliers in the sheet molding compound market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com To get access of more than 1000 reports at fraction of cost visit Lucintel's Analytics Dashboard.
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact: Roy Almaguer Lucintel Dallas, Texas, USA Email: roy.almaguer@lucintel.com Tel. +1-972-636-5056
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