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Sheet Molding Compound and Bulk Molding Compound Market to Undertake Strapping Growth 6.5 % CAGR Worldwide by 2021
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The market has been segmented on the basis of classification such as glass fiber and carbon fiber to provide a clear picture of the industry. The global market for SMC & BMC has witnessed continued demand during the last few years and is projected to grow at a CAGR of 6.5 % from 2016 to 2021. Growing Demand of from application segment and increasing need of SMC and BMC compound are likely to drive the global SMC & BMC market.
On the basis of classification, Glass Fiber accounts for the largest market share of more than half of the global SMC & BMC market in 2015. This growth is attributed to the rising need for bio-based materials and growing demand for light weight and fuel efficient vehicles across the regions.
Market Research Future predicts that over the past few years, the global sheet molding compound and bulk molding compound market has witnessed a remarkable growth and as per the analysis, the global growth remains continue. The over growth of the market is attributed towards the continuously increasing growth of the application industries such as transportation, electrical and construction. The growth of global transportation and electrical market has resulted in increasing production of sheet molding compound and bulk molding compound.
Access Report Details @ https://www.marketresearchfuture.com/statistical-reports/sheet-molding-compound-and-bulk-molding-compound-market-2679
Market Research future through this report aims to provide understanding of the global sheet molding compound and bulk molding compound market on the basis of classification, and also assists identification of ongoing trends along with anticipated growth during the forecasted period. For this report, extensive primary research was conducted to gain a deeper insight of the market performance. Various industry experts and Key Opinion Leaders (KOLs) were contacted and interviewed to get an idea of global color master batch market.
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We are thankful for the support and assistance from Sheet Molding Compound and Bulk Molding Compound Market by Classification chain related technical experts and marketing experts during Research Team survey and interviews.
About Market Research Future:
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.
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Akash Anand,
Market Research Future
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Email: akash.anand@marketresearchfuture.com
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