Sheet Molding Compound Market Size to Reach US$ 3.6 Billion in 2026

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RAIPUR, India, Feb. 9, 2022 /PRNewswire/ -- Stratview Research, a leading market research firm has launched a report on the Sheet Molding Compound market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.

Click Here to get the free sample pdf: https://www.stratviewresearch.com/Request-Sample/2496/sheet-molding-compound-market.html#form

How is the Report Helpful?

The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.

Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.

What are the Top Market Drivers?

According to the report, the Sheet Molding Compound market is driven by a host of factors, some of which are noted below:

• Increasing automotive fleet size, since SMC is considered an ideal material for fabricating class-A body panels.
• The increase in demand for materials with properties like excellent surface finish, excellent mechanical strength, corrosion resistance, etc. across industries like automotive, consumer goods, construction, and electrical & electronics.          

The report also includes growth rate estimates based upon the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.

Sheet Molding Compound Market Segmentation:

Stratview Research has segmented the market in the following 5 ways which fulfil the market data needs of multiple stakeholders across the industry value chain.

• End-Use Industry Type (Transportation [Light Vehicles and MHCV], Construction, Consumer Goods, Electrical & Electronics, and Others)
• Fiber Type (Glass Composites and Other Composites)
• Resin Type (Polyester Composites and Other Composites)
• Density Type (Medium-High Density SMCs and Low-Density SMCs)
• Region (North America, Europe, Asia-Pacific, and Rest of the World)

Sheet Molding Compound Market Insights

Market Trends by End-use industry type:

Based on the end-use industry type, the market is segmented as transportation, construction, consumer goods, electrical & electronics, and others. The transportation segment is further divided into light vehicles and MHCVs. Transportation is expected to remain the biggest demand generator for SMCs in terms of both value and volume during the forecast period. SMC is considered an ideal material for fabricating class-A body panels. SMC offers excellent part finish, excellent corrosion resistance, superior mechanical performance, and greater electrical insulation and heat resistance properties, addressing several market requirements. Furthermore, automakers can produce 150,000-200,000 parts per annum from SMCs, perfectly aligned with the 2-5-minute cycle time of the industry. Construction, another noticeable market for SMCs, is likely to be the fastest-growing market in the coming five years.  

Market Trends by Fiber type:

Based on the fiber type, the market is segmented as glass composites and other composites. Glass fiber remains the perennial choice of material for making SMCs in the foreseen future. Glass fiber offers numerous advantages over other fibers at the lowest cost, justifying its applicability in a large number of applications. All the major markets including transportation, construction, consumer goods, and electrical & electronics, extremely rely on glass fiber-reinforced SMCs. Carbon fiber, a lightweight material, is rapidly gaining market traction in the wake of its advantages suited to the industry-burning challenges. The material type is gaining more traction in Europe and North America, especially in electric and premium vehicles.

Which region offers the best opportunity and growth?

In terms of regions, 

Asia-Pacific is expected to remain the largest market for SMCs over the next five years

 owing to the growing penetration of SMCs in automobiles paired with greater production of vehicles. China, Japan, Korea, and India are the leading producers of automobiles. There has been an increase in the use of composite materials, more specifically, compounds, in the region's automotive industry over the eons, making the region the biggest demand generator among all regions. Furthermore, the region is the largest market for the construction, consumer goods, and electricals & electronics industries. 

North America and Europe are the other major markets for SMCs in the wake of high usage in their vehicles. 

COVID-19 Impact on the Sheet Molding Compound Market

COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.

To know more about the covid-19 impact, get a free sample report, here:

https://www.stratviewresearch.com/Request-Sample/2496/sheet-molding-compound-market.html#form

Who are the Top Market Players?

After a thorough analysis of the market, the experts have listed few key players and discussed company profiles of below-given players -

• The Polytec Group
• IDI Composites International
• Polynt S.P.A.
• Premix Inc.
• Lorenz-Kunststofftechnik GmbH
• Menzolit GmbH
• Huayuan Advanced Materials Co., Ltd. (HAMC)
• Core Molding Technologies, Inc
• Continental Structural Plastics
• Changzhou City Jiangshi Composite Technology Co. Ltd.

What deliverables will you get in this report?

-  In-depth analysis of the Sheet Molding Compound Market.

-  Detailed market segmentation.

-  Competitive-landscape analysis.

-  Historical, present, and future market size analysis.

-  Industry trends, technologies, and advancements.

-  Growth and operation strategies adopted by key players.

-  Potential segments/regions offering promising growth.

-  Geographical presence of the key players.

Related reports which might be useful:

1. Thermoset Molding Compound Market
    https://www.stratviewresearch.com/2495/thermoset-molding-compound-market.html
2. Bulk Molding Compound Market
   https://www.stratviewresearch.com/2499/bulk-molding-compound-market.html

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