Global Sheet Moulding Compound Market to 2026: Rising Demand for Lightweight, Fuel-Efficient and Electric Vehicles Drives Growth

DUBLIN, April 11, 2023 /PRNewswire/ -- The "Sheet Moulding Compound Market Size by Product Type Coverage, by Application, By Region, Competitive Strategies and Segment Forecasts, 2016-2026" report has been added to  ResearchAndMarkets.com's offering.

The Sheet Moulding Compound (SMC) industry is projected to surpass USD 1.5 billion by the end of 2019 and is expected to grow at a CAGR of 4% during the forecast period.

SMC is a pre-reinforced carbon or glass fiber polyester material used for compression molding. This process involves heating a preheated material in an open, heated cavity, which is then compressed to produce a product high in strength. SMC can produce parts in multiple lengths, thicknesses, and complexities, making it useful in many industries.

SMC is available in the form of sheet rolls, weighing up to 1000 kg, and is manufactured by distributing long strands of chopped glass fibers or carbon fibers over a wide area filled with polyester resin, vinyl ester resin, or epoxy resin.

SMCs are commonly used in electrical applications, low-cost structural components, and the automotive industry. Electrical products such as air conditioners, televisions, toasters, and irons use SMCs. The transportation segment will continue to dominate the market due to the growing production of the automotive industry and the increasing need for lightweight materials. Pickup trucks, bumpers, fenders, and hoods are some of the major applications of SMCs in the automobile industry.

The increasing demand for lightweight materials in transportation, low corrosion in construction purposes, and high thermal resistance in the E&E industry are the major driving factors for the growing demand of SMCs. The construction segment is expected to experience the highest growth during the forecast period.

By fiber type, glass fiber-based SMC will remain the highest segment due to its value and volume, but carbon fiber-based SMC will see robust growth in the forecast period due to its higher mechanical performance. The Asia Pacific region is expected to continue to dominate the market during the forecast period.

Some of the key findings from our Sheet Moulding Compound market forecast report

This report presents an analysis of the Sheet Moulding Compound (SMC) industry, providing insights into its potential for growth. The report uses data from 2016 and 2017 to estimate trends from 2019 to 2026, with 2018 as the base year. The industry is divided into segments based on type, such as General Purpose SMC, Flame Resistance SMC, Electronic Insulators SMC, Corrosion Resistance SMC, and application, including Automotive & Commercial Vehicle, Electrical & Energy, Construction, and others.

The report evaluates the size, share, demand, trends, gross profit, total earnings, and revenue of these segments, as well as the competition among key players in the global sector. It also identifies the sectors of the industry that are expected to undergo significant developments in the predicted years, helping readers to determine the most profitable areas for their business. Additionally, the report highlights future areas of the industry that show significant potential for investment.

Global Sheet Moulding Compound market overview

According to the findings of this study, the global Sheet Moulding Compound (SMC) industry is expected to experience steady growth in the coming years. The report examines various factors that have a significant impact on the industry's revenue, including market size, demand, and key players.

Market Dynamics

Drivers

• Rising demand lightweight, fuel-efficient, and Electric Vehicles (EVs)

Restraints

• Fluctuating raw material prices

Companies Mentioned

• IDI Composites International
• Magna
• Menzolit
• Continental Structural Plastics
• Premix
• Polynt
• Molymer SSP
• ASTAR
• Core Molding Technologies
• Lorenz
• MCR
• Zhenshi Group Huamei New Materials
• Yueqing SMC & BMC
• Changzhou Tianma Group
• Jiangshi Composite Technology Co.
• Huayuan Group
• JIANGSU BI-GOLD New Materials
• Changzhou Rixin Group
• SIDA Composites
• Devi Polymers

Market Segmentation

By Type:

• General Purpose SMC
• Flame Resistance SMC
• Electronic Insulators SMC
• Corrosion Resistance SMC

By Application:

• Automotive & Commercial Vehicle
• Electrical & Energy
• Construction
• Others

By Country/Region:

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America

For more information about this report visit https://www.researchandmarkets.com/r/mupaf9

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