Global Sheet Molding Compound (SMC) Market, By Fiber Type (Glass Fiber, Carbon Fiber), Resin Type (Polyester, Vinylester, Others), Density (Low Density, Mid and High Density), Type (General Purpose, Flame Resistance, Corrosion Resistance, Electronic Insulators, Others), End Use (Automotive, Electrical and Electronic, Aviation and Defence, Construction, Consumer Goods, Healthcare, Marine), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
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.
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 substitute which will become the biggest and foremost challenge for the growth of the market.
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.
Sheet Molding Compound (SMC) Market Country Level Analysis
Sheet molding compound (SMC) market is analysed and market size, volume information is provided by country, fiber type, resin type, density, type, and end use as referenced above.
The countries covered in the sheet molding compound (SMC) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
China dominates the Asia-Pacific sheet molding compound (SMC) market due to the prevalence of large number of electrical and automobile manufacturers along with availability of low raw material prices in the region. Europe region is expected to hold the largest growth rate due to the increasing growth of the consumer goods as well as automotive industry in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
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.