The sheet molding compound (SMC) market will reach an estimated valuation of USD 2.65 billion by 2028, while registering this growth at a rate of 5.40% for the forecast period of 2021 to 2028. Sheet molding compound (SMC) market report analyses the growth, which is currently being growing due to the increasing use of lightweight materials in transportation along with their performance benefits, such as lower corrosion in construction industries.
The sheet molding compound is a glass-fibre reinforced polyester material ready to be molded, which is primarily used in compression molding. It is generally used for larger components where greater mechanical strength is required. A fibre reinforced thermoset material is a sheet molding compound. The most important advantage of sheet moulding compound is its light weight when compared to other substances, such as metals and even other polyesters such as bulk molding compound.
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Increasing consumption in modern construction projects, rising demand for commercial and passenger vehicles which are enveloped by stringent emission regulations, increasing penetration of carbon fiber for the development of low-density SMCs, growing demand for bio-based materials and compounds, various industries are adopting sheet moulding compounds as a measure towards product weight reduction are some of the major as well as vital factors which will likely to augment the growth of the sheet molding compound (SMC) market in the projected timeframe of 2021-2028. On the other hand, growing the product sales in the automotive and transportation industry along with expansion of construction industry which will further contribute by generating massive opportunities that will lead to the growth of the sheet molding compound (SMC) market in the above mentioned projected timeframe.
High cost associated with the usage of product along with rising complications and issues of recycling which will likely to act as market restraints factor for the growth of the sheet molding compound (SMC) in the projected timeframe mentioned above. Easy availability of product substitutes which will become the biggest and foremost challenge for the growth of the market.
Competitive Landscape and Sheet Molding Compound (SMC) Market Share Analysis
Sheet molding compound (SMC) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to sheet molding compound (SMC) market.
The major players covered in the sheet molding compound (SMC) market report are POLYTEC Holding AG; IDI Composites International.; Polynt; TEIJIN LIMITED.; Premix Group; MENZOLIT; Huayuan Advanced Materials Co.,Ltd; Core Molding Technologies.; Changzhou City Jiangshi Composite Technology Co.,Ltd.; Koninklijke Ten Cate bv.; SHOWA DENKO K.K.; China International Composites Industrial Technical Expo; ASTAR; Magna International Inc; Continental Structural Plastics Inc.; ISCOPE GmbH; Devi Polymers Private Limited; Mitsui Chemicals, Inc.; MCR Mixt Composites Recyclables; ZOLTEK; among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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This sheet molding compound (SMC) market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on sheet molding compound (SMC) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Sheet Molding Compound (SMC) Market Scope and Market Size
Sheet molding compound (SMC) market is segmented on the basis of fiber type, resin type, density, type and end use. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of fiber type, the sheet molding compound (SMC) market is segmented into glass fiber, and carbon fiber.
- Based on resin type, the sheet molding compound (SMC) market is segmented into polyester, vinylester, and others.
- On the basis of density, the sheet molding compound (SMC) market is segmented into low density, mid and high density.
- Based on type, the sheet molding compound (SMC) market is segmented into general purpose, flame resistance, corrosion resistance, electronic insulators, and others.
- On the basis of end use, the sheet molding compound (SMC) market is segmented into automotive, electrical and electronic, aviation and defence, construction, consumer goods, healthcare, and marine.
- Regional Analysis: The report further examines the Sheet Molding Compound (SMC) market in the key regions of the world with regard to production and consumption patterns, import/export, supply and demand ratio, revenue generation, market share and size, and presence of prominent players in the regions. The Sheet Molding Compound (SMC) report also covers the expansion plans undertaken by companies in the regions under the regional analysis section. The regional analysis of the market comprises of production volume information, consumption volume and patterns, revenue, and growth rate for the forecast period.
According to the regional analysis, the market is primarily spread over key geographical regions as follows:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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